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Mussel Oil Market Size
Mussel Oil Market size exceeded USD 37.5 million in 2020 and is estimated to grow at over 5.5% CAGR between 2021 and 2027. Supporting regulatory norms by EU commission regarding approval of mussel oil in functional food in the region should have a positive influence on the demand of mussel oil in functional food along with the dietary supplements industry over the forecast period. In addition, mussel oil contains GLMO, vitamin E, and olive oil helps treat arthritis, including rheumatoid arthritis & osteoarthritis, inflammation and asthma.
Nutraceutical products have come to be regarded as essential products during the COVID 19 pandemic resulting in a substantial rise in demand. However, there has been disruptions in supply chain, owing to the imposition of nationwide lockdowns. Rising incorporation of mussel oil in processed food should drive the product demand. As, fear of buying has affected the demand for processed packaged food due to its long-shelf life. People have started to buy huge amounts of shelf?stable products upwards coupled with their nutritional value. whereas in the past few months, demand for packaged food has decreased due to the unlocking and adoption of new normal among the consumers.
| Report Attributes | Details |
|---|---|
| Base Year: | 2020 |
| Market Size in 2020: | USD 37.61 Million |
| Forecast Period: | 2021 to 2027 |
| Forecast Period 2021 to 2027 CAGR: | 5.5% |
| 2027 Value Projection: | USD 54.54 Million |
| Historical Data for: | 2016 to 2020 |
| No. of Pages: | 185 |
| Tables, Charts & Figures: | 228 |
| Segments covered: | Grade, End-Use, Sales Channel |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Stringent environmental policies regarding fish catches mainly in Peru and China, which are the largest fishing nations should hamper market growth. For instance, big boats are restricted to catch fishes within 10 miles of the shore along Peru central and northern coast as the species population has shrunk to 40% in a year. Restrictions on the number of fish catches to maintain the ecological balance may negatively impact industry growth. Decreasing fish production and catches mainly in Nordic countries along with contamination of the oil by the environmental contaminants may hamper industry profitability. however, increasing demand for dietary supplements should balance the demand for product in the market.
Mussel Oil Market Analysis
The food grade mussel oil market is anticipated to surpass USD 30 million by 2027. The global food industry has witnessed healthy growth over the last ten years, and this is expected to continue over the coming years as well owing to population growth and rising investments. This is being seen, not just in the more mature retail markets in the US and Europe, but also in fast growing emerging markets in Asia Pacific and the Middle East & Africa. Therefore, this growth of the food industry worldwide is likely to fuel the market demand over the forecast timeframe.
Dietary supplements application segment of mussel oil market surpassed USD 20 million in 2020 and is anticipated to register over 5.5% CAGR in between 2021 and 2027. Rising consumer preference towards high quality supplement products due to hectic and stressful lifestyle may propel the market share. Dietary supplement comprising of mussel which provides the vitamins and minerals required to maintain overall wellness and health. Research indicates that Americans spend a significant amount of their income on dietary supplements products consisting of fish oils, vitamins & minerals. Rising awareness among consumers to reduce the risk of illness and maintain their health should favor industry landscape.
Online sales channel segment is anticipated to surpass USD 18 million by 2027 and is anticipated to grow at a CAGR of over 6.5% between 2021 and 2027. The rising adoption of digitalisation among consumers has brought about an increased focus on online sale channel. In recent years the Internet has gained much traction among both, the consumers as well as the manufacturers, it is not only used for marketing of products & services online, but to aid to sell the product worldwide. In addition, rising literacy rate should help support the growth of online sales channel. Along with changing lifestyle, busy schedule, and convenience of online purchasing of products should fuel the demand from online sales channel in the predicted timeframe.
The Asia Pacific mussel oil market is projected to register over 3.5% CAGR from 2021 to 2027 owing to the presence of a large cosmetic and personal care industry. Changing consumer behavior, increasing spending on cosmetic & personal care products, and rising demand for natural and organic products should support the regional market statistics. The presence of a substantial millennial population who have significant purchasing power and greater awareness of different cosmetic ingredients should further accelerate market demand.
Mussel Oil Market Share
Global mussel oil market is highly consolidated owing to the low presence of players in the market. The key player in the market includes :
- Waitaki Bio
- BioMer Ltd
- Nature’s Range
- Aroma NZ Ltd
- Great HealthWorks
- Blackmores Group
- Henry Blooms Health Products
- MOXXOR LLC
- Lovely Health Ltd.
- Xtend-Life
The key market participants are implementing various strategies includes research & development activities, technology advancement, new product launches, acquisitions and mergers in order to increase market share and to tap the growth opportunities in the market.
For instance, Aroma NZ Ltd use Flash-drying technology to dehydrate heat-sensitive products such as slurries, bioactive proteins, granules, and powders. It allows the use of high temperatures and guarantees the highest quality of finished product. This process helps the company to develop GlycOmega mussel powder in 5 minutes, without loss of any Omega-3 lipids and bioactive proteins.
Global mussel oil market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in Tons, and revenue in USD Million from 2016 to 2027 for the following segments:
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By Grade
- Food Grade
- Pharmaceutical Grade
- Cosmetics Grade
By End Use
- Processed Food
- Cosmetics and Personal Care
- Biopharmaceutical
- Dietary supplements
- Pet food & Veterinary
By Sales Channel
- Hypermarket/Supermarket
- Specialty stores
- Online Stores
- Others (Drugstore, Nutrition & Health Food Store)
By Region
- North America
- U.S
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Russia
- Rest Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Australia
- Malaysia
- Thailand
- Rest Asia Pacific
- Latin America
- Brazil
- Rest of Latin America
- Middle East and Africa
- Saudi Arabia
- UAE
- South Africa
- Rest of Middle East and Africa
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