Global Marine Biotechnology Market 2024-2028

Global Marine Biotechnology Market 2024-2028

Technavio has been monitoring the marine biotechnology market and is forecast to grow by USD 4716.4 mn during 2023-2028, accelerating at a CAGR of 9.83% during the forecast period. Our report on the marine biotechnology market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by increase in demand for biofuel, increased demand for secondary metabolites from marine microorganisms, and rising demand for natural compounds in the cosmetic industry.

Technavio's marine biotechnology market is segmented as below:

By Application

• Healthcare products
• Energy and environment management products
• Food and cosmetics products

By Type

• Bio active substance
• Bio materials
• Others

By Geographical Landscape

• North America
• Europe
• Asia
• Rest of World (ROW)

This study identifies the increasing concern about climate change as one of the prime reasons driving the marine biotechnology market growth during the next few years. Also, increasing application of seaweeds in various products and increasing growth strategies of market players will lead to sizable demand in the market.

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters. Our report on the marine biotechnology market covers the following areas:

• Marine biotechnology market sizing
• Marine biotechnology market forecast
• Marine biotechnology market industry analysis

Technavio's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading marine biotechnology market vendors that include Air Liquide SA, Aker BioMarine ASA, AlgaEnergy SA, Archer Daniels Midland Co., BASF SE, CoDo International Ltd., Cyanotech Corp., FMC Corp., Geomarine Biotechnologies, Glyco Mar Ltd., J M Huber Corp., KD Pharma Group, Lonza Group Ltd., Marinomed Biotech AG, Marinova Pty Ltd., Marshall Marine Products, New England Biolabs Inc., PharmaMar SA, and Prolume Ltd.. Also, the marine biotechnology market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. Technavio's market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.