Global Marine Biotechnology Strategic Industry Report 2024-2030: U.S. Market is Estimated at $2 Billion, While China is Forecast to Grow at 11.9% CAGR

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Feb 21, 2024, 13:00 ET

DUBLIN, Feb. 21, 2024 /PRNewswire/ -- The "Marine Biotechnology - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.

Global Marine Biotechnology Market to Reach $13.1 Billion by 2030

The global market for Marine Biotechnology estimated at US$6.7 Billion in the year 2022, is projected to reach a revised size of US$13.1 Billion by 2030, growing at a CAGR of 8.7% over the analysis period 2022-2030. Biomaterials, one of the segments analyzed in the report, is projected to record a 9.4% CAGR and reach US$6.6 Billion by the end of the analysis period. Growth in the Bioactive Substances segment is estimated at 8.5% CAGR for the next 8-year period.

The report delves into the advancements in marine biotechnology, particularly in the development of wellness products. Against the backdrop of a shifting global economic landscape, characterized by efforts to manage the ongoing COVID-19 pandemic and geopolitical tensions such as the Russia-Ukraine war, the report provides insights into the marine biotechnology market.

It examines the impact of COVID-19 on the marine biotechnology sector and analyzes the competitive landscape, detailing the market presence of 230 players worldwide in 2023. Despite challenges, the global marine biotechnology market is projected to experience healthy growth, with developed regions currently dominating but developing countries poised for rapid expansion.

The report explores various applications of marine biotechnology, including the production of biomaterials, bioactive substances, marine enzymes for pharmaceutical applications, lipid and biofuel production, and bioremediation. It also highlights recent market activities and profiles select global brands in the marine biotechnology industry.

The U.S. Market is Estimated at $2 Billion, While China is Forecast to Grow at 11.9% CAGR

The Marine Biotechnology market in the U.S. is estimated at US$2 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$1.3 Billion by the year 2030 trailing a CAGR of 11.9% over the analysis period 2022 to 2030.

Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 5.9% and 8.1% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 8% CAGR.

MARKET TRENDS & DRIVERS

Industry Witnesses a Rise in Sea Farming Operations
Artificial Intelligence (AI) Emerging to be a Critical Tool for Marine Biology
Data Science and Big Data Step In to Simplify Marine Biotech Processes
Active Participation of Investors to Steer Marine Biotechnology Sector
Select Recent Start-ups in the Marine Biotechnology Space
Focus on Biofuels as the Future Energy Security Solution Drives Strong Demand
Innovative Technologies and Strategies Fuel Demand for Algal Fuel
Healthcare: A Fast Growing Avenue
Select Marine Bio-Products Commercially Available
Health-Promoting Benefits of Marine Algal Proteins
Sea Anemone Toxins: Opportunities in the Pharma Sector
Marine Worm: Potential Role in Medical Applications
Biopharmaceutical Companies Shift Focus to Marine Natural Products
Technology Advancements Aid Research Activities
Research Focus Entrenched on Marine Drugs
Anti-Cancer Drugs Dominate Drug Development Pipeline
Select List of Marine-Sources-Isolated Compounds with Potential Anticancer Effect
Cardiovascular Marine Products
An Overview of Select Cardiovascular Marine Products
Cardiovascular Marine Products by Marine Source
Coral Reefs Offer Abundant Opportunities
Rise in Application of Seaweeds
Marine Microalgae: Promising Potential in Varied Industries
Commercially Cultivated Marine Microalgae Species and their Applications
Major Applications of Marine Microalgae Biomass or their Extracts
Polysaccharides from Marine Microalgae Hold Significant Potential
Select Marine Microalgae Species Producing Polysaccharides
Carotenoids of Marine Origin Find Increased Application as Natural Colorants in Supplements and Foods
Major Commercially Available Carotenoids
Carotenoids of Marine Origin and Growing Opportunities in Cosmetics
Select Carotenoids and their Functional Benefits in Nutricosmetics Market
Research on Rise for Marine Ingredients for Bonding Applications
Underwater Geolocation Charting Gains Ground
Partnerships: Vital for Development of Marine Biotechnology Research
R&D ACTIVITY IN MARINE BIOTECHNOLOGY - A REVIEW
Overview
R&D Initiatives, Programs & Research Priorities for Marine Biotechnology
COST Action Ocean4Biotech: A Blue Technology Effort to Tap Hidden Wealth of Oceans
COST Action Ocean4Biotech to Advance Marine Biotechnology
COST Action Ocean4Biotech: Primary Goals
Europe to Stay at Forefront of Global Marine Biotechnology Market
Recent Technological Breakthroughs in Marine Science and Conservation
A REVIEW OF END-USE MARKETS/APPLICATIONS
Consumer Products
Marine Biotechnology for Sustainable Production of Healthy Food Products
Aquaculture
How Marine Biotechnology is Helping in Modernizing Traditional Aquaculture?
Marine Resources as Functional Food Ingredients
Health Benefits of Few Marine-derived Functional Food Ingredients
Marine-Derived Nutraceuticals
Major Marine Nutraceutical Products: A Glance
Cosmetics: An Important Growth Market
Focus Shifts to Sustainable Sourcing of Marine Ingredients in Cosmetics Industry
Marine Biotechnology Application in Industrial Processing
Marine Microbial Enzymes
Marine-Derived Biopolymers & Biomaterials
Marine Micro & Macro Algae
Chitin & Chitosan
Marine Bacteria
Extremozymes Hold an Edge
Marine-Derived Pharmaceuticals
Major Marine Sources for Drugs
Applications of Marine Products in the Pharmaceutical Industry
Key Challenges in Discovery of Marine-derived Drugs
Marine Biotechnology for Energy Supply
Marine Biotechnology for Protecting Marine Ecosystems
Key Innovative Technologies Contributing in Saving the Ocean

FOCUS ON SELECT PLAYERS (Total 230 Featured)

Aker BioMarine AS
Aqua Bio Technology ASA
BASF SE
CP Kelco
Cyanotech Corp.
GlycoMar Ltd.
Marinova Pty Ltd
Nutrex Hawaii Inc.,
oceanBASIS GmbH
PharmaMar S.A
Royal DSM N.V
SEPPIC

For more information about this report visit https://www.researchandmarkets.com/r/8b58gb

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