Marine biotechnology is the creation of products and processes from marine organisms through the application of biotechnology, molecular and cell biology, and bioinformatics. It is the field of science that deals with ocean exploration for development of new pharmaceutical drugs, chemical products, enzymes, and other products and processes. Marine biotechnology involves the study and utilization of marine organisms including microorganisms, algae, and marine animals to develop new products and processes that can address various challenges and meet the growing demands of the marine products. The marine environment is a rich source of bioactive compounds with unique properties and functionalities. These compounds have shown immense potential in the development of novel drugs, functional ingredients, and sustainable solutions. Increasing demand for natural and eco-friendly products, coupled with advancements in biotechnology and genomics, is expected to drive the global marine biotechnology market.

Market Dynamics:

The marine biotechnology market is a rapidly growing sector that harnesses the potential of marine organisms and their derivatives for various applications in industries such as pharmaceuticals, cosmetics, food and beverages, and agriculture. The market growth is driven by factors such as the rising prevalence of chronic diseases, the need for sustainable and eco-friendly solutions, and the growing demand for natural and organic products. The exploration of unexplored marine habitats and the discovery of new species and their bioactive compounds are expected to create lucrative opportunities for the market growth.

However, the market also faces certain challenges including the high cost of research and development, regulatory complexities, and the limited availability of marine resources. Moreover, the ethical and environmental concerns associated with the extraction and utilization of marine organisms pose challenges to the sustainable growth of the market.

Key features of the study:

• This report provides in-depth analysis of the global marine biotechnology market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2023–2030), considering 2022 as the base year
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends,  regional outlook, and competitive strategies adopted by key players
• It profiles key players in the global marine biotechnology market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
• Key companies covered as a part of this study include 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
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
• Global marine biotechnology market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global marine biotechnology market

Marine Biotechnology Market Detailed Segmentation:

• By Product Type
  • Functional Food
  • Feed Additives
  • Nutraceuticals
  • Cosmetics & Personal Care
  • Pharma & Biotech
• By Application
  • Food & Beverages
  • Animal & Aquaculture Feed
  • Cosmetics & Personal Care
  • Pharmaceuticals
  • Nutraceuticals & Dietary Supplements
• By Source
  • Microalgae
  • Macroalgae
  • Cyanobacteria
  • Diatoms
  • Sponges
• By End User
  • Pharmaceutical Companies
  • Biotechnological Companies
  • Cosmetic Companies
  • Nutraceutical Companies
  • Others
• By Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East
  • Africa

Key Players

• 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