USD 5.8 billion
Marine Biotechnology Market Size, Share, Growth Analysis, By Product(Marine animal-derived products, marine plant-derived products, and marine microbial-derived products), By Application(Healthcare and cosmetics, food and agriculture, industrial products, and research and development), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35H2077 |
Region:
Global |
Published Date: March, 2024
Pages:
219
|Tables:
64
|Figures:
75
Marine Biotechnology Market Insights
Global Marine Biotechnology Market size was valued at USD 5.8 billion in 2022 and is poised to grow from USD 6.19 billion in 2023 to USD 10.49 billion by 2031, growing at a CAGR of 6.80% during the forecast period (2024-2031).
The global marine biotechnology market is a rapidly growing industry that is focused on utilizing the vast resources of the world's oceans for the development of new products and solutions in various fields such as medicine, agriculture, and energy. The purpose of this market is to harness the unique and diverse properties of marine organisms to create novel biotechnological products, including therapeutics, nutraceuticals, and biofuels, among others. The market is driven by the increasing demand for sustainable and eco-friendly products, the rising prevalence of chronic diseases, and the need for alternative sources of energy. Despite the vast potential of marine biotechnology, there are also several key restraints that limit its growth, such as the high cost of research and development, limited access to marine resources, and regulatory hurdles. However, recent advancements in biotechnology and genomics, as well as the increasing number of collaborations between industry players and research organizations, are expected to drive the growth of this market in the coming years. One of the key trends in the market is the growing use of marine-derived enzymes in various industrial applications, such as food processing, pulp and paper manufacturing, and biofuel production. In addition, there is also an increasing focus on marine biomaterials, which have a wide range of potential applications in areas such as medicine, tissue engineering, and regenerative medicine. As the global population continues to grow and the demand for sustainable products increases, the marine biotechnology market is expected to present numerous opportunities for growth and innovation.
US Marine Biotechnology Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Marine animal-derived products
Fastest Growth
Marine animal-derived products
Growth Rate
6.80% CAGR
Global Marine Biotechnology Market 2021-2030 ($ Bn)
Country Share for North America Region- 2021 (%)
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Marine Biotechnology Market Segmental Analysis
Global Marine Biotechnology Market is segmented on the basis of product, application, and region. By product, the market is segmented marine animal-derived products, marine plant-derived products, and marine microbial-derived products. By application, the market is segmented into healthcare and cosmetics, food and agriculture, industrial products, and research and development. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Marine Biotechnology Market Analysis By Product
Marine animal-derived products dominated the global marine biotechnology market. This segment includes enzymes, proteins, and other bioactive compounds derived from marine animals. Enzymes derived from marine animals have a wide range of applications in industries such as food, pharmaceuticals, and cosmetics. For example, chitinase, an enzyme derived from marine crustaceans, is used in the production of chitosan, a biopolymer with a wide range of applications in wound healing, drug delivery, and agriculture.
The fastest-growing segment in the global marine biotechnology market is marine microbial-derived products. This segment includes enzymes, proteins, and other bioactive compounds derived from marine microorganisms such as bacteria, fungi, and algae. Marine microorganisms are a rich source of novel enzymes and other bioactive compounds with potential applications in industries such as healthcare, food, and agriculture. For example, marine microorganisms have been used to develop novel antibiotics and anticancer agents, as well as enzymes with applications in food processing and waste treatment.
Marine Biotechnology Market Analysis By Application
Healthcare and cosmetics dominated the global marine biotechnology market by application. This segment includes products such as drugs, supplements, and cosmetics that are derived from marine organisms. Marine-derived products have shown promising results in the treatment of diseases such as cancer, Alzheimer's, and inflammation. For example, marine organisms such as sponges and tunicates have been used to develop anticancer drugs, while marine algae have been used to develop supplements with antioxidant and anti-inflammatory properties. In addition, marine-derived compounds such as collagen and elastin are used in cosmetics to promote skin health and elasticity.
The fastest-growing segment in the global marine biotechnology market by application is food and agriculture. This segment includes products such as food additives, animal feed, and fertilizers that are derived from marine organisms. Marine-derived products have shown potential in improving crop yield, soil fertility, and animal nutrition. For example, seaweed extracts have been used as natural fertilizers to improve crop yield and soil fertility, while marine proteins and lipids have been used as feed additives to improve animal growth and health. In addition, marine-derived enzymes have shown potential in the production of food additives such as flavor enhancers and emulsifiers.
Global Marine Biotechnology Market Size By Product 2021(%)
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Marine Biotechnology Market Regional Insights
North America dominated the global marine biotechnology market, owing to its well-developed infrastructure and favorable government initiatives to promote the use of marine resources in biotechnology research. The United States is the largest market in this region, with a significant number of marine biotechnology companies and research organizations.
The Asia Pacific region is expected to be the fastest-growing region in the global marine biotechnology market, with a projected CAGR of 7.2% from 2022 to 2030. This is due to the increasing focus on research and development of marine biotechnology products in countries such as Japan, China, and South Korea. Additionally, the availability of abundant marine resources in the region and the growing demand for sustainable products are further driving the growth of the marine biotechnology market in Asia Pacific.
Global Marine Biotechnology Market Size By Geography, 2021-2030
- Largest
- Fastest
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Marine Biotechnology Market Dynamics
Marine Biotechnology Market Drivers
Growing Demand for Eco-Friendly Products
- With the increasing awareness of environmental concerns and sustainability, there is a growing demand for eco-friendly products across various industries. Marine biotechnology offers a range of sustainable and eco-friendly solutions, such as marine-derived enzymes for industrial applications, biofuels, and bioplastics. For instance, a company called Algix produces bioplastic materials from algae, which are biodegradable and sustainable alternatives to traditional plastic materials.
Increasing Prevalence of Chronic Diseases
- Chronic diseases such as cancer, Alzheimer's disease, and diabetes are on the rise globally, leading to a growing need for new and innovative treatments. Marine biotechnology offers a potential source of new therapeutics and drug compounds, as marine organisms have unique and diverse properties that can be used for medicinal purposes. For example, a drug called Yondelis, derived from a sea squirt found in the Mediterranean Sea, is used to treat soft-tissue sarcoma and ovarian cancer.
Marine Biotechnology Market Restraints
High Cost of Research and Development
- The development of marine biotechnology products involves extensive research and development, including the identification and cultivation of marine organisms, as well as the extraction and purification of bioactive compounds. The high costs associated with these processes can limit the growth and commercialization of marine biotechnology products. For example, the cultivation and extraction of a single marine-derived compound, such as a natural product, can cost several hundred thousand dollars.
Limited Access to Marine Resources
- The availability of marine resources for research and development is a key limitation in the marine biotechnology industry. The exploration and harvesting of marine organisms is often subject to complex regulatory frameworks, which can limit the access of researchers and companies to these resources. For example, the collection of marine organisms in protected areas or in areas with limited access can be restricted or prohibited.
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Marine Biotechnology Market Competitive Landscape
Global Marine Biotechnology Market is highly competitive, with a number of key players operating in the market. Some of the major players in the market are focusing on various strategies such as partnerships, collaborations, mergers and acquisitions, and new product launches to gain a competitive edge in the market. For instance, in February 2021, Lonza Group Ltd. acquired HansaBioMed Life Sciences Ltd. to expand its capabilities in the development and production of biological therapeutics. Moreover, several research institutions and universities are also actively involved in marine biotechnology research and development, leading to the creation of new companies and startups in the market. The growing number of research activities in the field is expected to drive innovation and competitiveness in the market.
Top Player’s Company Profiles in Marine Biotechnology Market
- BASF SE (Germany)
- CP Kelco (US)
- Cyanotech Corporation (US)
- DowDuPont Inc. (US)
- FMC Corporation (US)
- Lonza Group AG (Switzerland)
- Marinova Pty Ltd (Australia)
- New England Biolabs Inc. (US)
- Novozymes A/S (Denmark)
- PML Applications Ltd (UK)
- PharmaMar S.A. (Spain)
- Seppic (France)
- Solutex GC (Spain)
- Sonneborn LLC (US)
- The Lubrizol Corporation (US)
- The Scottish Association for Marine Science (UK)
- Thermo Fisher Scientific Inc. (US)
- Tiger Brands Limited (South Africa)
- Unilever NV (Netherlands)
- Xiamen Kingdomway Group Co. Ltd. (China)
Marine Biotechnology Market Recent Developments
- In March 2022, GlaxoSmithKline and LifeMine Therapeutics signed a contract worth USD 70 million for the development of three drug candidates using LifeMine's unique fungi-based drug discovery engine. This partnership is expected to lead to the discovery of new therapeutics for a range of diseases.
- In September 2021, the US Food and Drug Administration (FDA) approved tisotumab vedotin-tftv (branded as Tivdak), a drug derived from marine organisms, for the treatment of recurrent or metastatic cervical cancer in adult patients who have experienced disease progression after chemotherapy. This drug is a tissue factor-directed antibody and microtubule inhibitor conjugate that has shown promising results in clinical trials.
Marine Biotechnology Key Market Trends
- Marine Biomaterials - The use of marine-derived biomaterials is an emerging trend in the marine biotechnology market, with numerous potential applications in the fields of medicine, tissue engineering, and regenerative medicine. For instance, marine collagen has been shown to have superior properties compared to mammalian collagen and is being explored as a potential biomaterial for use in wound healing and tissue regeneration.
- Genomics and Biotechnology - Recent advancements in genomics and biotechnology are driving innovation and growth in the marine biotechnology market. The use of advanced technologies such as CRISPR/Cas9 gene editing and synthetic biology is enabling the creation of novel marine biotechnology products with enhanced properties and functionality. For example, researchers are using gene editing techniques to produce algae with higher lipid content, which can be used as a more efficient source of biofuel.
Marine Biotechnology Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our Global Marine Biotechnology Market analysis, the market is expected to experience significant growth in the coming years, driven by factors such as the increasing demand for new and effective drugs, rising awareness of marine biodiversity, and the growing need for sustainable food sources. Furthermore, technological advancements in marine biotechnology, such as the development of high-throughput screening techniques and the use of genetic engineering, are expected to further fuel market growth. However, regulatory hurdles and high costs associated with research and development may act as a restraint on the market's growth. The Asia-Pacific region is expected to be the fastest-growing market, owing to the presence of a large number of marine biotechnology companies, government support for research and development activities, and a rich biodiversity of marine organisms in the region.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 5.8 billion |
| Market size value in 2031 | USD 10.49 billion |
| Growth Rate | 6.80% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Marine Biotechnology Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Marine Biotechnology Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Marine Biotechnology Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Marine Biotechnology Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Marine Biotechnology Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Marine Biotechnology Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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