NEWARK, Del, Nov. 01, 2023 (GLOBE NEWSWIRE) -- By the end of the year 2022, the net worth of the total marine peptides sold worldwide was around US$ 246.5 million. Sales of marine peptides are expected to rise at a 5.8% CAGR over the coming ten years, between 2023 and 2033, worldwide. The global marine peptides industry value is anticipated to increase from US$ 273.8 million in 2023 to US$ 481.7 million by 2033.
As natural collagens have been shown to have potential health advantages, there is a corresponding demand for marine peptides that promote wellness and healthy aging. The pharmaceutical industry's interest in marine peptides and bioactive compounds has expanded the overall market by manifolds in the last few years.
Growing awareness regarding several health benefits of functional foods containing marine peptide supplements has led to the commercialization of the product. Moreover, the broader availability of marine peptide ingredients over online retail channels has recently strengthened the market. However, growing interest in plant-based alternatives with the growing trend of vegan and vegetarian diets could limit the desirability of marine peptides in the long run.
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Key Takeaways from the Global Marine Peptides Market Study Report
- In 2023, the demand for marine peptides in the United States market is projected to acquire a global market share of around 19.8%.
- In Europe, the use of marine peptides in the United Kingdom is much higher, and it is likely to develop at 9.8% CAGR through 2033.
- China is the leading market for the production of marine peptides in Asia, and it is expected to witness an annual growth rate of 13.5% till 2033.
- India is another remarkably growing market for marine peptide applications, and its domestic market is poised to follow an 11.7% CAGR from 2023 to 2033.
- The fish segment is expected to remain dominant in the coming days due to its high production capacity among the different marine peptide sources.
- Based on end use, marine peptide applications in the cosmetics industry create the most demand and form the leading segment.
“As products made from natural or organic sources are becoming more popular, the marine peptide source would play a significant role in market development. Marine peptide industries' competitive edge rests on their capacity to differentiate themselves and meet customer expectations in food, pharmaceutical, and cosmetics applications,” – Nandini Roy Choudhury, Client Partner at Future Market Insights.
Competitive Landscape for Market Players
Because peptides derived from the sea are widely available, numerous large and small industries have diversified the overall market.
Marine peptide producers and suppliers will probably face competition from various bioactive substances and supplements sourced from other animals.
Key Companies Profiled are
- Amicogen Inc.
- Cargill Inc.
- China Peptides
- Darling Ingredients
- Gelita AG
- Guangzhou Honsea Sunshine Bio Science & Technology
- Lapi Gelatine
- Nippi Collagen
- Nitta Gelatin
- PB Gelatins or PB Leiner
- Rousselot (Peptan)
- Trobas Gelatine B.V.
- Vital Proteins LLC.
- Weishardt Gelatines
- Wellnex
Recent Developments by the Market Players
The Tessenderlo Group officially launched PB Leiner (Hainan) Biotechnology Ltd. in March 2023 to produce and market fish collagen peptides. PB Leiner's technology is now a global leader in the production of gelatin and collagen solutions and delivers a comprehensive line of premium SOLUGEL fish collagen peptide products.
Rousselot Company introduced a new collagen peptide component into the skincare and cosmetics industry market in January 2021. This new product line, 'Peptan Marine' offers superior nutri-cosmetics and dietary supplements that are sustainably derived, helping beauty and nutrition firms to strengthen their position.
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Key Segments Covered by Marine Peptides Industry Survey Report
By Product Type:
- Fish peptides
- Shellfish peptides
- Seaweed peptides
- Sponge peptides
- Squid peptides
- Other Product Types
By End-use Applications:
- Food and Beverages
- Cosmetics
- Pharmaceuticals
- Nutraceuticals
- Animal Feed
- Biotechnology
- Other End Use
By Region:
- North America Market
- Latin America Market
- Europe Market
- East Asia Market
- South Asia and Pacific Market
- The Middle East and Africa (MEA) Market
Author:
Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives. She has exceptional analytical skills and often brings thought leadership to the table.
Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.
Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor’s Degree in Electrical Engineering from Nagpur University, India. Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.
Explore FMI’s Extensive Coverage on Food & Beverage Domain:
- As per the latest market research conducted by FMI, the global marine enzymes market is likely to record a CAGR of 6.8% from 2023 to 2033.
- The global marine extract market size is set to reach a valuation of US$ 6,054.4 million in 2023. It is anticipated to attain a valuation of around US$ 10,117.5 million by 2033. From 2023 to 2033, the global marine extract sales are likely to soar at 5.3% CAGR.
- The global marine minerals market is anticipated to exhibit an exponential CAGR of 34% during the forecast period (2022-2032).
- The global marine collagen market is expected to reach a market valuation of USD 782.3 Mn by the year 2022, accelerating with a CAGR of 6.8% by 2022-2032.
- The global collagen peptide market is estimated to grow by US$ 705 million in 2023. It is estimated to grow at a promising CAGR of 5.7% during the forecast period, anticipated to reach more than US$ 1227.24 million by the end of 2033.
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