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Marine biotechnology is generally referred in use of marine organisms, at the whole cell or molecular level which helps in providing technologies, products and processes that will be beneficial for the society. The major factor which drives the global marine biotechnology market is raising demand of consumers towards natural products. The global Marine Biotechnology Market was anticipated to grow around $4.1 billion in 2015 and it is forecasted to reach around $ 5.9 billion by 2022 growing at 6.8 % CAGR during 20162022. The report focuses on the application of the marine biotechnology in various industries and the factors leading to growth and development of the industry. Rising support of key players towards providing sustainable products helps in boosting the global marine biotechnology market.
Rising demand of marine biotechnology in cosmetics industry would be the key factor which drives the growth of global marine biotechnology market. The marine biotechnology market is forecasted to grow at higher rate in future due to rapid growth and rising healthcare industry in all over the world. Another major factor which drives this global marine biotechnology market is due to rising end users applications like industrial products, cosmetic, pharmaceutical etc. also helpful in boosting this market. Wide usage of applications in global marine biotechnology market is another factor which helps in fuelling this global marine biotechnology market. The other major factor which helps in boosting this market is the key players investing huge amount in research and development for developing sustainable products according to the consumer demand. In region, Asia Pacific is expected to be the fastest growing region in near future due to increasing healthcare industries and cost effective solutions in the regional market. Although there are many factors which drive the market and still there are various restraints which are faced by the market such as complexities with discoveries and innovations and increasing demand for commodities leads to shortage of supply. The major factor which restraint the market growth are fluctuations in prices of crude oil which directly affects the production cost in recent times, and it is going to be key factor hampering the growth of the market. There are also challenges which are faced by global marine biotechnology market are high research and development cost and lack of technical expertise etc.
The global marine biotechnology market is segmented on the basis of product, end user applications and by geography. On the basis of product the market is segmented into bio material and bio active substance and others. Among the products, bio material would be the fastest growing market due to rising demand for sustainable and high quality products in the market which also helps in boosting the global marine biotechnology market. On the basis of applications, the global marine biotechnology market is segmented into industrial products, healthcare or biotechnology products, consumer's products, public service and infrastructure and others. Among all applications, cosmetics industries would be the fastest growing industries in all over the world due to rising investment by key players and other factors like healthy and dietary supplements because they are rich in amino acids, proteins, vitamins, and minerals etc. On the basis of geography, Europe, Asia Pacific North America, and ROW are the major segments of this global marine biotechnology market. North America is the leading markets in marine biotechnology due to rising demand for marine ingredients which also increases the number of raw material suppliers specializing in such products. North America region holds the largest market share in marine biotechnology due to rising focus on the production of algaederived biotechnology. However, Asia would be the fastest growing market in marine biotechnology. The major reason behind the success of this region is hydrocolloid and aquaculture segments. European region is considered as leading region for Marine Biotechnology Market during the forecasted period due to growing support of EU research policy for various collaborative projects in marine biotechnology. Therefore, this segment is also considered as major factors that drive this global marine biotechnology market.
Some of the major players of the market include Aker BioMarine, Basf SE, Biolume Inc., Biotech Marine, CP Kelco, Cyanotech Corporation, FMC Health and Nutrition, Lonza Group Ltd., Marinova, New England Biolands inc., Nutrex Hawaii and so on. Mergers, product launches, Innovation and expansion are some of the key strategies adopted by the market players. On 11th March'2016, Aker biomarine launches its new technology which also called as Flexitech TM in the natural product westengreda show. This patented technology helps the company in expansion as well as it also bring more innovations to the krill oil market. More specifically, this technology allows Aker biomarine to concentrate on krill oil various beneficial components like omega 3s and also helps in removing the salts in krill oil that leads to off taste and odors. These mergers, product launches and acquisition helps in boosting the growth of global marine biotechnology market.
Bioscience - any of the sciences that deal with living organisms. The study of the nature, behavior, and uses of living organisms as applied to biology. Any of the branches of natural science dealing with living things, such as their structure, b...
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