Marine Ingredients Market is projected to register a substantial CAGR of 9.4% in the forecast period of 2019 to 2026. The new market report contains data for the historic year 2017, the base year of calculation is 2018 and the forecast period is 2019 to 2026.
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Drivers: Global Marine Ingredients Market
- Increased health benefits of marine ingredients
- Growing application of marine ingredients in different sectors
Restraints:
- Fish products allergies
- High cost of products
Opportunity:
- Awareness amongst consumers
Challenge:
- Availability of substitute product
Market Trends:
Global Marine Ingredients Market is segmented into six notable segments which are product type, ingredients, form, raw material, source and application.
- On the basis of product type, the market is segmented into fish meal, fish oil, marine proteins, marine peptides, marine collagen, fish bone and others. In 2019, fish meal segment is expected to dominate the market with the largest market share because of its higher demand and use in animal and aquaculture feed as well as pet food worldwide. The demand is higher in feed because it fulfils the nutritional demand of animal, aqua species among others.
- On the basis of ingredients, the market is segmented into protein, ash, fatty acids, vitamins, fat, enzymes and others.
- On the basis of form, the market is segmented into liquid and powder. In 2019, powder segment is expected to dominate the market with the largest market share due to the huge demand of ingredient in powder for which has usage in animal and aquaculture feed.
- On the basis of raw material, the market is segmented into whole fish and by-product.
- On the basis of source, the market is segmented into krill, algae, fish, squid and others. In 2019, fish segment is expected to dominate the market with the largest market share because fish is the huge source of nutrition such as protein, omega 3, vitamin, fatty acids which fulfils the nutritional requirement of animal as well as human and extraction of these nutrition are easy and hence it may grow in future.
- On the basis of application, the market is segmented into animal and aquaculture feed, pet food, dietary supplements, food & beverages, pharmaceutical, personal care and cosmetics and others.
Major Players: Global Marine Ingredients Market
Some of the major players operating in global marine ingredients market are Cargill, Incorporated, Symrise, KD Pharma Group, Omega Protein Corporation, Abyss Ingredients, Algaia, American Seafoods Company LLC, Bio-marine Ingredients Ireland Ltd., COBIOSA, Gonmisol, Hofseth BioCare, Kodiak Fishmeal Company, Nutrifish, OLVEA, Pacific Seafood, Pelagia AS, TerraMar Ingredients, Sea Pride LLC, The Scoular Company, Vesteraalens AS among others.
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