The Market Growth Can be Ascribed to the Growing Demand for Natural Products from Marine-Derived Like Seaweed-Related Products and Increasing Investments in the Development of Sustainable and Natural Products.
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Growing Demand from Energy Sector
Increasing demand for energy supply across the globe is a major factor for market growth, and marine biotechnology can make an important contribution to energy production in very different ways. Microbial Enhanced Oil Recovery is a bio-based product to enhance the recovery efficiency of fossil oil reserves and can help to increase the life of mature oil reservoirs. Microalgae cultivation for bio-energy generation is a major issue and one of marine biotechnology's main goals. Thus, owing to these factors are expected to boost the market growth during the forecast period. In 2021, U.S. ethanol production totaled about 15 billion gallons, and combined biodiesel/renewable diesel production totaled about 2.5 billion gallons. Also, expanding knowledge and understanding of marine resources due to recent advances in science and technology has driven the growth of the market during the forecasted year.Growing usage in food, cosmetics, and other industry
Increasing usage of marine products in food, cosmetics, and agriculture industries propels market growth during the forecast period. Ingredients derived from marine biotechnology provide a unique and instant solution to classic beauty concerns. Marine microorganisms are useful, and enzyme secretion by them is more beneficial than other enzymes which are used in the creation of cosmetic products like Vitamin C, moisturizers and anti-aging creams, etc. Increasing developments in medication research, fisheries, and aquaculture are expected to propel the market growth during the forecast period. Ongoing advances, emerging technologies like bioprocessing and phenomics, and nutritional and sustainability benefits are expected to play a vital role in pushing the overall adoption of microalgae in the food supplement and nutraceutical industries. New discoveries and the development of marine peptides will drive the growth of peptide therapeutics in the coming years. The beauty and personal care market in the United States is worth approximately $84 billion. As such, the United States accounts for 22% of the value of the global cosmetics industry.Market Segmentation
The Global Marine Biotechnology Market can be segmented by type, technology, application, end-user industry, and by region. Based on type, the market can be divided into Bioactive substances and Biomaterials. Based on technology, the market can be divided into Isolation and Cultivation of Microorganisms and Culture-Independent Techniques. Based on application, the market can be grouped into Aquaculture and Food Products, Environment & Human Health, Drug Discovery, and Others. Based on End User Industry, the market can be differentiated into Biotechnology & Pharmaceuticals, Chemicals, cosmetics, and Others. Regionally, North America dominated the market among Asia Pacific, Europe, Middle East & Africa, and South America. Among the different countries, the United States dominated The Global Marine Biotechnology Market on account of the growing usage of marine products in the food and cosmetics industry in the country.Market Players
Lonza Group AG, Sea Run Holdings Inc, PharmaMar S.A., Cyanotech Corporation, New England Biolabs Inc., Qingdao Codo International Ltd, Nutrex Hawai Inc., Royal DSM N.V., Prolume Ltd., CP Kelco US Inc. are some of the leading players operating in the Global Marine Biotechnology Market.Recent Development
- For instance, in July 2021, a team of scientists from the National Institute of Ocean Technology, India, developed an anti-aging ingredient for making cosmetics with the help of deep-sea bacteria.
- For instance, Bluu Biosciences, a biotech company with headquarters in Germany, got around EUR 7 million in March 2021 to develop premium, sustainable fish products from cell cultures.
Report Scope:
In this report, global marine biotechnology market has been segmented into the following categories, in addition to the industry trends, which have also been detailed below:Marine Biotechnology Market, By Type:
- Bioactive Substance
- Biomaterials
Marine Biotechnology Market, By Technology:
- Isolation and Cultivation of Microorganisms
- Culture-Independent Techniques
Marine Biotechnology Market, By Application:
- Aquaculture and Food Products
- Environment & Human Health
- Drug Discovery
- Others
Marine Biotechnology Market, By End User Industry:
- Biotechnology & Pharmaceuticals
- Chemicals, Cosmetic
- Others
Marine Biotechnology Market, By Region:
- North America
- United States
- Canada
- Mexico
- Europe
- France
- Germany
- United Kingdom
- Italy
- Spain
- Asia Pacific
- China
- India
- Japan
- South Korea
- Australia
- South America
- Brazil
- Argentina
- Colombia
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
Competitive landscape
Company Profiles: Detailed analysis of the major companies present in Global Marine Biotechnology Market.Available Customizations:
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Table of Contents
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Lonza Group AG
- Sea Run Holdings Inc
- PharmaMar S.A.
- Cyanotech Corporation
- New England Biolabs Inc.
- Qingdao Codo International Ltd
- Nutrex Hawai Inc.
- Royal DSM N.V.,
- Prolume Ltd.
- CP Kelco US Inc.