Global Marine Biotechnology Market is expected to reach US$ 10.8 Bn by 2030, from US$ 6.4 Bn in 2023, exhibiting a CAGR of 7.8% during the forecast period.
Marine biotechnology involves the application of biotechnology techniques that uses marine bio resources like microbes, plants, and animals or their derived constituents for beneficial applications. It has applications across pharmaceuticals, cosmetics, nutraceuticals, agriculture, renewable energy, and bioremediation industries. The key drivers include growing demand for marine ingredients and enzymes as well as rising R&D in this emerging field.
Global marine biotechnology market is segmented by product type, application, source, end user, and region. By product type, the market is segmented into functional food, feed additives, nutraceuticals, cosmetics & personal care, and pharma & biotech. The nutraceuticals segment is expected to witness growth significantly due to increasing consumer demand for omega-3 supplements derived from fish and algal oils.
Global Marine Biotechnology Market- Regional Insights
- North America is expected to be the largest market for marine biotechnology market during the forecast period, accounted for over 43.1% of the market share in 2022. The growth of the market in North America is due to significant R&D investments and presence of major biotech firms in the region.
- The Europe market is expected to be the second-largest market for marine biotechnology market, accounted for over 23.3% of the market share in 2022. The growth of the market in Europe is due to growing nutraceutical and cosmeceuticals industries.
- The Asia Pacific market is expected to be the fastest-growing market for marine biotechnology market, with a CAGR of 7.1% during the forecast period. The growth of the market in Asia Pacific is due to expanding pharmaceutical and agricultural industry.
Figure 1. Global Marine Biotechnology Market Share (%), By Region, 2023
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Analyst’s View on Global Marine Biotechnology Market
The global marine biotechnology market holds significant growth potential over the coming years. Marine biotechnology is an emerging field that explores the vast diversity of marine species for novel compounds which can be used in various industries. One of the main drivers for the market is the increasing demand for new drugs from the pharmaceutical sector. The untapped genetic resources from oceans can provide solutions to many complex diseases. Marine ecosystems contain an enormous repository of bioactive compounds with applications in medicine, cosmetics, agriculture and industrial sectors. Marine organisms such as sponges, corals, tunicates and bacteria have evolved unique adaptations that make them a promising source for new drugs.
Global Marine Biotechnology Market- Drivers
- Increasing demand for marine-derived pharmaceuticals and nutraceuticals: The discovery of novel marine-derived bioactive compounds has led to development of new pharmaceuticals and nutraceuticals from marine sources. Marine organisms such as sponges, algae, fish, and mollusks are rich sources of structurally diverse bioactive compounds with potential pharmaceutical applications. According to National Institutes of Health, over 28,000 marine natural products have been isolated so far and hundreds of patents have been filed for marine-derived drugs.
- Development of marine-derived cosmeceuticals: The bioactive compounds obtained from marine organisms like algae, fish and microorganisms have excellent anti-aging and skin rejuvenating properties. Marine bioactives contain antioxidants, moisturizing agents, and skin-whitening agents that are increasingly being used in cosmeceuticals products.
- Increasing agreement among key market players: Marine organisms are a rich source of diverse novel enzymes that have potential industrial applications. Increasing adoption of inorganic growth strategies such as agreement is expected to drive the market growth. For instance, in October 2022, Oculis, a clinical stage biopharmaceutical company, announced agreement with European Biotech, group of biotech companies in Europe. Under the agreement, Oculis acquired European Biotech for further research and development activities.
- Need for sustainable marine ingredients in animal feed: Rising consumer demand for organic animal products has highlighted the importance of sustainable marine ingredients in animal feed. Fishmeal and fish oil derived from sustainable fisheries are excellent sources of high-quality protein, healthy fats and essential nutrients required for growth and development in livestock and aquaculture species.
Marine Biotechnology Market Report Coverage
| Report Coverage |
Details |
|---|
| Base Year: |
2022 |
Market Size in 2023: |
US$ 6.4 Bn |
|---|
| Historical Data for: |
2018 to 2021 |
Forecast Period: |
2023 - 2030 |
|---|
| Forecast Period 2023 to 2030 CAGR: |
7.8% |
2030 Value Projection: |
US$ 10.8 Bn |
|---|
| Geographies covered: |
- North America: U.S. and Canada
- Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
- Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
- Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
- Middle East: GCC Countries, Israel, and Rest of Middle East
- Africa: South Africa, North Africa, and Central Africa
|
| Segments covered: |
- By Product Type: Functional Food, Feed Additives, Nutraceuticals, Cosmetics & Personal Care, and Pharma & Biotech
- By Application: Food & Beverages, Animal & Aquaculture Feed, Cosmetics & Personal Care, Pharmaceuticals, and Nutraceuticals & Dietary Supplements
- By Source: Microalgae, Macroalgae, Cyanobacteria, Diatoms, and Sponges
- By End User: Pharmaceutical Companies, Biotechnological Companies, Cosmetic Companies, Nutraceutical Companies, and Others
|
| Companies covered: |
BASF, CP Kelco, Cyanotech Corp., Kerry Group, Corbion, FMC Corp, Marine Biotech, Royal DSM, TransGen Biotech Co., Ltd., Olmix Group, Ittinsect, BRAIN Biotech AG, Biotech Marine
|
| Growth Drivers: |
- Increasing demand for marine-derived pharmaceuticals and nutraceuticals
- Development of marine-derived cosmeceuticals
- Increasing agreement among key market players
- Need for sustainable marine ingredients in animal feed
|
| Restraints & Challenges: |
- Sustainability concerns about marine exploitation
- High cost of marine biotech R&D
|
Global Marine Biotechnology Market- Opportunities
- Adoption of marine biotech applications in renewable energy sector: Marine biotechnology can make key contributions in the renewable energy sector in terms of providing sustainable feedstocks and optimized biofuel production processes. Marine biomass like macro and microalgae can be converted into biofuel through thermochemical and biochemical methods.
- Expanding application of marine-derived polysaccharides: Marine organisms produce a variety of complex polysaccharides like chitin, ulvans, carrageenan and fucoidan that have emerged as valuable biotech products. Owing to their anti-inflammatory, anti-coagulant and anti-microbial properties, the application of marine polysaccharides is growing across the food, pharmaceutical and biomedical sectors.
- Leveraging marine genomics big data: The field of marine genomics has advanced rapidly, leading to a vast accumulation of genomic big data. Metagenomics analysis of marine microbial samples has revealed complex marine microbiomes with millions of new genes, enzymes and metabolites.
Global Marine Biotechnology Market- Trends
- Adoption of marine biotechnology in food processing: Marine biotechnology is making significant impact in the food processing industry, with marine-derived compounds, enzymes and microorganisms finding diverse applications ranging from food processing to preservation
- Marine conservation biotechnology: Growing awareness about the impacts of climate change, pollution and overfishing on marine ecosystems is boosting efforts to develop conservation biotechnologies. Application of genetics, genomics, captive breeding and bioremediation are gaining interest for marine conservation.
- Integration of marine biotechnology with nanotechnology: The interface between marine biotechnology and nanotechnology is an emerging trend with far-reaching impacts. Marine bioactive compounds coupled with smart nanocarriers offer new possibilities in drug delivery and nutraceuticals.
Global Marine Biotechnology Market- Restraints
- Sustainability concerns about marine exploitation: While marine biotechnology offers lucrative opportunities, there are rising concerns regarding the ecological sustainability of bioprospecting marine ecosystems. Excessive trawling and collection of marine flora and fauna for biotechnology research can impact vulnerable marine habitats.
- High cost of marine biotech R&D: Marine biotechnology R&D involves high costs pertaining to marine expeditions for sample collection, technological infrastructure for bioinformatics analysis, offshore cultivation systems and sophisticated analytical instrumentation. Thus, key market players focused on providing more cost efficient product
Figure 2. Global Marine Biotechnology Market Share (%), By Product Type, 2023
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Global Marine Biotechnology Market- Recent Developments
- On May 29, 2023, Blue Bio Value, a biotech organizations, introduced the Blue Bio Value Acceleration Programme 2023. This programme aims to fast-track startups operating within the value chain of marine bioresources, specifically in the blue biotechnology sector, that offer sustainable services or products contributing to a healthier use of ocean resources.
- On February 20, 2023, Ittinsect, a Italy-based biotech startup company, announced its first investment round of US$ 792.3 in which CDP Venture Capital, through the Accelerators Fund, Katapult Ocean, Indico Capital Partners, LVenture Group and two angel investors participated to develop a sustainable alternative to aquaculture feed
- In December 2022, TransGen Biotech Co., Ltd., a biotechnology company, announced the launch of Uracil-DNA Glycosylase, a recombinant protein derived from psychrophile marine bacteria that have been modified to be expressed in Escherichia coli
Acquisition and Collaboration
- On July 10, 2023, Olmix Group, a global specialist of natural solutions for agriculture, announced the acquisition of Yes Sinergy, a Brazil-based biotech company that specializes in natural additives for animal nutrition and welfare
- In November 2021, BRAIN Biotech AG, a biotech company, and the Scottish Association for Marine Science (SAMS) announced a research collaboration to make marine compounds more sustainable and cost effective, for Marine Science (SAMS)
Top companies in Global Marine Biotechnology Market
- BASF
- CP Kelco
- Cyanotech Corp.
- Kerry Group
- Corbion
- FMC Corp
- Marine Biotech
- Royal DSM
- TransGen Biotech Co., Ltd.
- Olmix Group
- Ittinsect
- BRAIN Biotech AG
- Biotech Marine
Definition: Marine biotechnology refers to the application of molecular biology techniques to marine biosources such as fish, plants, microbes or marine invertebrates to create beneficial products and services. It involves bioprospecting the ocean’s biodiversity for novel genes, bioactive compounds or microorganisms that have applications in biotechnology across pharmaceuticals, nutraceuticals, cosmetics, renewable energy and food industries. Marine biotechnology is enabling exploration of marine organisms to develop new drugs, enzymes, biomaterials, nutritional and healthcare products in a sustainable way.
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