Marine ingredients consist of bioactive ingredients such as omega-3, hydrolyzed proteins, amino acids, enzymes and other active ingredients which are predominantly derived from the by-products of other marine products. The demand for marine ingredients continues to grow due to the demand for natural ingredients in fortified food and cosmetics and personal care products. The ever-increasing quest for marine ingredients which are highly efficient and have offered consumer satisfaction drives the marine ingredients market towards a dynamic environment of research and technological competence.Currently, lucrative markets for marine ingredients are Brazil, China, Europe and U.S.
The marine ingredients market is characterized by a number of mergers & acquisitions amongst the key market participants. Marine ingredients are sourced from a wide variety of wild marine flora and fauna, either farmed or freshly caught. Marine ingredients are rich in their nutritional value and have a broad range of applications within the nutrition segment.
Opportunities for Marine Ingredients Market Participants
Sourcing the raw materials for marine ingredients can have a negative bearing on the marine ecosystem and hence steps must the enforced to ensure a sustainable supply of raw materials in the future. For instance, The International Seafood Sustainability Foundation is rigorously focusing to develop acoustic technology for better fishing methods which minimize unnecessary killing to marine fauna. Sustainably sourced marine ingredients hugely impact the consumer buying decisions. The inclusion of adequate information with respect to the ingredients are essential for manufacturers to strengthen their consumer base. Developing specific and customized value-added products such as skincare dietary supplements by the fortification of marine ingredients will also help to boost the growth of the marine ingredients market.
Reasons for Covering this Title
The constant focus of research and development activities in the marine by-products industry in an attempt to use the vast underutilized resource of bioactive marine ingredients has led to an expansion of the marine ingredients portfolio. The benefits and applications of the fishes which are easy to catch and which are available in vast quantities can be delivered in a convenient form to the food, feed and cosmetic industry manufacturers through the marine ingredients. On the other hand, consumer trust is highly influenced by the support of scientific consents concerning marine ingredients, made by the manufacturers. The quality and sustainability of the marine ingredients sourced from the marine resources are also likely to influence the consumer buying decisions for the end use products and may affect the growth of the marine ingredients market. Also, there have been constant price fluctuations in the raw materials from where the marine ingredients are sourced. Many well-positioned ingredient manufacturers are establishing their footprint in the cosmetic segment and also strengthening their biotechnology and R&D activities through the acquisitions of companies operating in marine ingredients or marine biotechnology businesses.
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Competitive Landscape of the Marine Ingredients Market
Some of the market participants in the global marine ingredients market identified across the value chain include KD Pharma Group, Cargill Inc., Bio-Marine Ingredients Ireland, LESSONIA, Thai Union, Yashaswi, Barnhardt Manufacturing Company, SHANGHAI JBICHEM INTERNATIONAL TRADING CO.,LTD., Seagarden AS, AKER BIOMARINE ANTARCTIC AS, Silvaco A/S, TropicalBiomarine and Arctic Nutrition amongst others.