Global marine biotechnology market to reach $ 5 billion by 2026
SAN FRANCISCO, August 5, 2021 / PRNewswire / – A new market research published by Global Industry Analysts Inc., (GIA), the leading market research firm, today released its report titled “Marine biotechnology – Trajectory and analysis of the world market”. The report presents new perspectives on the opportunities and challenges in a dramatically transformed post-COVID-19 market.
FACTS AT A GLANCE
Editing: 18; Posted: May 2021
Executive pool: 6614
Companies: 62 – Players covered include Aker BioMarine AS; Aqua Bio Technology ASA; BASF SE; BioLume, Inc .; Biotech Marine; CP Kelco; Cyanotech Corp .; GlycoMar Ltd. ; Lonza Group Ltd. ; Marinova Pty Ltd; New England Biolabs Inc; NovaMatrix; Nutrex Hawaii Inc.,; oceanBASIS GmbH; PharmaMar SA; Prolume LtÃ©e; Royal DSM SA; Sea Run Holdings, Inc .; SEPPIC; Tequesta BioVentures and others.
Blanket: All major geographies and key segments
Segments: Product (bioactive substances, biomaterial and other products); Technology (isolation and culture of microorganisms and techniques independent of culture); Application (aquaculture and food products, environmental and human health, drug discovery and other applications); End use (food industry, pharmaceutical and biotechnology, chemical, energy and other end uses)
Geographies: World; United States; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia Pacific; Australia; India; South Korea; Rest of Asia Pacific; Latin America; Rest of the world.
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Global marine biotechnology market to reach $ 5 billion by 2026
Marine biotechnology deploys genetic engineering as well as different cultivation techniques to mass produce valuable marine compounds, while ensuring the least negative impact on the precious marine ecosystem. The growth of the global market is expected to be driven by the rise of the âcircular economyâ. The increasing use of marine ingredients in the food, agricultural and cosmetic industries is driving the growth of the market. The global bioplastics and biopolymers market is increasingly turning to new advancements in marine biotechnology to develop a whole new class of biodegradable biopolymers. New research has revealed the ability to transform organic waste from crabs, shrimp and shrimp into natural “chitin” and “chitosan” biopolymers. The development of new ways of producing microbial energy and converting microbial energy holds great promise in using the forest biomass inventory available to generate electricity. Ongoing advancements, emerging technologies such as bioprocessing and phenomena, as well as nutritional and sustainability benefits are expected to play a critical role in the global adoption of microalgae in the dietary supplement and nutraceutical industries. New discoveries and the development of marine peptides will drive the growth of peptide therapies in the years to come.
Amid the COVID-19 crisis, the global marine biotechnology market estimated at US $ 3.7 billion in 2020, is expected to reach a revised size of US $ 5 billion by 2026, with a CAGR of 5.8% over the analysis period. Bioactive substances, one of the segments analyzed in the report, are expected to register a CAGR of 6.7% and reach US $ 1.9 billion at the end of the analysis period. After a thorough analysis of the business implications of the pandemic and the induced economic crisis, the growth of the Bio Material segment is readjusted to a revised CAGR of 5.1% for the next 7 year period. Biotechnological tools and techniques play an essential role in the cultivation and isolation of bioactive compounds present in algae. Bioactive marine compounds developed so far include alkaloids, lactones, hydroxybenzene, quinones, peptides, sterides, ether, and ketal.
The US market is estimated at $ 1.1 billion in 2021, when China is expected to reach $ 481.8 million by 2026
The marine biotechnology market in the United States is estimated at US $ 1.1 billion in 2021. China, the world’s second-largest economy, is expected to reach a projected market size of US $ 481.8 million by 2026, with a CAGR of 9.7% over the analysis period. Other notable geographic markets include Japan and Canada, each forecasts growth of 4.4% and 5.7% respectively over the analysis period. In Europe, Germany is expected to grow by about 4.6% CAGR. The United States is the largest market, supported by the growing emphasis on marine technology and huge investments in marine research centers specializing in marine biotechnology. The growing demand for marine ingredients is also driving the growth of the market. Europe is also a major region, driven by increased support for collaborative research projects in marine biotechnology.
Organic material segment to be reached $ 2.1 billion by 2026
Polysaccharides of marine origin hold enormous potential directly in the form of biomaterials. Due to their ability to chemically modify, marine polysaccharides are able to provide a higher degree of flexibility in the design of products such as new alginate copolymers which show tremendous promise as delivery systems. drugs. In the global biomaterials segment, United States, Canada, Japan, China and Europe will drive the estimated 5.2% CAGR for this segment. These regional markets representing a combined market size of US $ 1.3 billion in 2020 will reach a projected size of US $ 1.8 billion at the end of the analysis period. China will remain among the most dynamic of this group of regional markets. Led by countries such as Australia, India, and South Korea, the market of Asia Pacific should reach US $ 202.6 million by 2026. Following
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