Marine Derived Proteins Market Size
Market Outlook:
Base Year Value (2023)
USD 7.53 Billion
CAGR (2024-2032)
10.3%
Forecast Year Value (2032)
USD 18.2 Billion
Historical Data Period
2019-2023
Largest Region
North America
Forecast Period
2024-2032
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Market Dynamics:
Growth Drivers & Opportunity:Marine Derived Proteins Market is expected to experience significant growth due to the rising demand for natural and sustainable protein sources. With the increasing awareness of the health benefits associated with marine proteins, consumers are increasingly opting for products derived from marine sources.
Another major growth driver for the Marine Derived Proteins Market is the expanding aquaculture industry. As the aquaculture sector continues to grow, the demand for feed ingredients such as marine proteins is also expected to increase. This presents a lucrative opportunity for players in the marine derived proteins market to capitalize on this growing segment.
The growing trend of clean label and plant-based products is also expected to drive the growth of the Marine Derived Proteins Market. Consumers are looking for more natural and clean label ingredients in their food products, and marine proteins fit the bill perfectly. This trend is expected to further boost the demand for marine derived proteins in the coming years.
Industry
Report Scope
| Report Coverage | Details |
|---|---|
| Segments Covered | Source, Form, Distribution Channel |
| Regions Covered | • North America (United States, Canada, Mexico) • Europe (Germany, United Kingdom, France, Italy, Spain, Rest of Europe) • Asia Pacific (China, Japan, South Korea, Singapore, India, Australia, Rest of APAC) • Latin America (Argentina, Brazil, Rest of South America) • Middle East & Africa (GCC, South Africa, Rest of MEA) |
| Company Profiled | Aker BioMarine, Corbion, Cargill, DSM, Kerry Group, Lonza, Neptune Wellness Solutions, Nippon Suisan Kaisha, Royal Greenland, SkyBiometry, Aquaculture Protein, Biomega Group, Cellulac, Epax, FMC |
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Despite the promising growth prospects, the Marine Derived Proteins Market faces certain restraints that could hinder its growth. A significant limitation is the stringent regulations governing the extraction and processing of marine proteins. Compliance with these regulations can be costly and time-consuming, which may deter some players from entering the market.
Moreover, a hindrance to the Marine Derived Proteins Market is the limited availability of raw materials. The sourcing of marine proteins can be challenging, as it is dependent on factors such as weather conditions and fishing quotas. This can result in fluctuations in the supply of marine proteins, which could impact the market negatively.
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