Global Marine Biotechnology Market to Reach $5 Billion by 2026

SAN FRANCISCO, March 21, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Marine Biotechnology - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

FACTS AT A GLANCE
Edition: 19; Released: February 2022
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 S.A; Prolume Ltd; Royal DSM N.V; Sea Run Holdings, Inc.; SEPPIC; Tequesta BioVentures and Others.
Coverage: All major geographies and key segments
Segments: Product (Bio Active Substances, Bio Material, and Other Products); Technology (Isolation & Cultivation of Microorganisms, and Culture-Independent Techniques); Application (Aquaculture & Food Products, Environmental & Human Health, Drug Discovery, and Other Applications); End-Use (Food Industry, Pharmaceutical & Biotech, Chemical, Energy, and Other End-Uses)
Geographies: World; USA; 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 World.

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ABSTRACT-

Global Marine Biotechnology Market to Reach $5 Billion by 2026
Marine biotechnology deploys genetic engineering as well as different cultivation techniques for mass producing valuable marine compounds, all while ensuring that there is least negative impact to the precious marine ecosystem. Growth in the global market is set to be driven by driven by the rise of "circular economy". Increasing use of marine ingredients in food, agriculture and cosmetic industries is fostering growth in the market. The global bioplastics and biopolymers market is increasingly looking towards new advances made in marine biotechnology to develop completely new class of biodegradable biopolymers. New research has revealed the ability to process crabs, shrimp, and prawn biowastes into naturally occurring biopolymers "chitin" and "chitosan". The development of new ways to produce microbial energy and microbial energy conversion holds immense promise in utilizing available forest biomass inventory for generating electricity. Ongoing advances, emerging technologies like bio-processing and phenomics, and nutritional and sustainability benefits are expected to play a vital role in pushing overall adoption of microalgae in the food supplement and nutraceuticals industries. New discoveries and development of marine peptides will drive growth of peptide therapeutics in the coming years.

Amid the COVID-19 crisis, the global market for Marine Biotechnology estimated at US$3.7 Billion in the year 2022, is projected to reach a revised size of US$5 Billion by 2026, growing at a CAGR of 5.8% over the analysis period. Bio Active Substances, one of the segments analyzed in the report, is projected to record a 6.7% CAGR and reach US$1.9 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Bio Material segment is readjusted to a revised 5.1% CAGR for the next 7-year period. Biotechnological tools and techniques play a vital role in cultivation and isolation of bioactive compounds found in seaweed. Bioactive marine compounds developed so far include Alkaloids, Lactones, Hydroxybenzene, Quinones, Peptides, Sterides, Aether, and Ketal.

The U.S. Market is Estimated at $1.1 Billion in 2022, While China is Forecast to Reach $481.8 Million by 2026
The Marine Biotechnology market in the U.S. is estimated at US$1.1 Billion in the year 2022. China, the world`s second largest economy, is forecast to reach a projected market size of US$481.8 Million by the year 2026 trailing a CAGR of 9.7% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.4% and 5.7% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4.6% CAGR. The US represents the largest market, backed by increasing emphasis on marine technology, and the huge investments in marine research centers that specialize in marine biotechnology. Growing demand for marine ingredients is also driving the market growth. Europe is also a major region, driven by increased support for collaborative projects to conduct research in marine biotechnology.

Bio Material Segment to Reach $2.1 Billion by 2026
Marine-derived polysaccharides hold enormous potential directly in the form of biomaterials. Given their amenability to chemical modification, marine-derived polysaccharides are capable of providing a higher degree of flexibility in designing products such as novel alginate co-polymers that hold enormous promise as drug delivery systems. In the global Bio Material segment, USA, Canada, Japan, China and Europe will drive the 5.2% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$1.3 Billion will reach a projected size of US$1.8 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$202.6 Million by the year 2026.

Attractive Pockets of Growth Emerge
Over the years, bioremediation of marine ecosystems has been widely practiced, as seen in the clean ups carried out after major oil spills. In several instances, removal of contaminants has been undertaken through the use of natural processes, which involve degradation of microbes by the activity of endogenous hydrocarbon compound. Biostimulation is a process that is used for breaking down further the residual oil, in the event of oil spills. In the biostimulation process, fertilizers such as nitrogen and phosphorous are added so as to improve microbial communities' activities and accelerate the process of natural recovery. In particular, biostimulation holds the potential to reduce recovery times to around 2-5 years in shorelines severely affected by oil spills. In comparison, natural recovery time averages at about 5 to 10 years for shorelines that are not subjected to any treatment.

Marine biotechnology is also known to facilitate better management of marine resources, which has been seen in instances involving the use of DNA-based methods. This is used in case of whales and for marine mammals. In this process, the technology necessitates characterization of specific molecular markers as well as multiplex PCR or routine PCR. For identifying species of marine organisms such as salmon, tuna, crab, seals, abalone, and rockfish, as well as shellfish and other types of microalgae, DNA-based methods have been developed. DNA markers are used for identifying the sample, and determining if it comes from stable or threatened population of marine species. Marine biotechnology is being assessed for its ability to restore specific types of marine habitats such as coastal wetlands, seagrass beds, and coral reefs. Another issue is related to reducing impact of aquaculture on environment and minimizing impact of aquaculture's risk on human health. Fish disease control is among the key issues needed to be addressed during marine aquaculture management, particularly in open environments wherein antibiotics usage enhances the risk of antibioresistance of bacterial pathogens. Such increase in antibioresistance could lead to multi-drug resistance bacteria, which could have adverse implications for both fish and human health.

Marine biotechnology also has a significant role to play in ensuring sustainable use of marine environments. Marine biotechnology has diverse range of environmental applications including biofouling control, bioremediation/ natural resource and environment management, environmental monitoring of ecosystem, and marine habitat restoration. Oceans are a huge resource for biomolecules, organisms, and genetic resources in oceans. However, developments in this area have been relatively less, due primarily to the high level of complexity associated with marine ecosystems and huge gap existing between developing commercial assays/products and marine genomic approaches.

Biofouling refers to accumulation of organisms on surfaces within the aquatic environment, such as platforms, pipes, and equipment for monitoring and defense purposes. Biofouling poses severe implications for the safety and economy of sectors such as aquaculture and shipping. Marine biotechnology is playing a critical role in development of anti-fouling strategies. Though there are several promising results from various research studies, development of cost-effective commercial paint products with functional biological ingredients capable of preventing biofouling is still far away from being realized. This is primarily due to the fact that most of the actives feature fine chemical structures, which cannot be bulk-produced for use in commercial applications. More

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