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The marine biopolymer market size is estimated to grow at a CAGR of 9.07% between 2022 and 2027. The market size is forecast to increase by USD 1,411.84 million. The growth of the market depends on several factors such as the emerging applications from end-user industries, the increasing demand for bioplastic packaging from the food and beverage industry, and the increasing focus on sustainable polymer solutions.
This marine biopolymer market report extensively covers market segmentation by end-user (water treatment, food and beverage, cosmetics, pharmaceutical and biomedical, and others), source (shrimps, prawns, crabs, and others), and geography (APAC, North America, Europe, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Increasing demand for bioplastic packaging from the food and beverage industry is the key factor driving the growth of the market. The two most important aspects of food packaging are to preserve its quality and to ensure that it is bacteriologically safe. In terms of biodegradability, recycling ability, biocompatibility, and reusability, plastic packaging has limitations, which has led to a rise in the popularity of biodegradable packaging.
Moreover, bioplastics can be made from biocompatible, renewable, and sometimes cheaper biopolymers. Furthermore, much research is underway trying to meet consumer demand for such packaging, which, together with global environmental legislation, is driving the creation of new and sustainable food packaging materials. Hence, the growing demand for bioplastic packaging from the food and beverage industry will boost the growth of the market during the forecast period.
Increasing application of marine biopolymers in theranostic applications is the primary trend in the market. Theranostics is a combination of terms used to describe medicines and diagnostics. Recently, marine biopolymers have been extensively applied in the production of nanomaterials for biomedical applications as a result of their significant properties such as biodegradability and biocompatibility. For example, polymeric nano particles have been helpful in the detection and treatment of numerous types of cancer because they are biocompatible with medicinal products as well as immunotherapies.
Furthermore, new nanoparticles are being developed coated with marine biopolymers to combine therapeutic and diagnostic (therapeutic) applications due to their highly improved absorption and scattering properties in the NIR regions. Hence, the rising use of marine biopolymers in therapeutic applications will fuel the growth of the global marine biopolymers market during the forecast period.
Difficulties related to the production of marine biopolymers is a challenge that affects the growth of the market. Acid and alkali treatments are chemical steps in the production of marine biopolymers, which are hazardous to the environment. To address these limitations, ultrasonic and microwave technology should be used instead of traditional chemical and enzymatic processes, which further increases the cost of producing marine biopolymers.
Furthermore, one of the main problems with the production of biopolymers is the non-standardized nature of the production technology, which is still in its development stage. Hence, such difficulties in the production of marine biopolymers will impede the growth of the mentioned market during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Marine Biopolymer Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Acadian Seaplants Ltd.: The company offers marine biopolymer for use in the nutraceutical and medical markets.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The water treatment segment is estimated to witness significant growth during the forecast period. For the removal of metal ions, organic dyes, and oils from industrial wastewater it is advisable to use biological biopolymers and their derivatives. These materials are capable of providing a possible replacement for petroleum-derived materials in the treatment of wastewater. The biopolymers of the sea have a number of characteristics, including excellent biodegradability, hydrophilicity, biocompatibility, and nontoxicity.
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The water treatment segment was the largest segment and was valued at USD 830.10 million in 2017. With the growing concern about toxic chemical discharge and toxic metal pollution due to rapid industrialization and modernization, the demand for biopolymers, such as marine biopolymers is increasing to treat wastewater. Marine biopolymers also remove high concentrations of zinc and copper from wastewater. The production of water treatment methods is increasing from end-use industries, such as pulp and paper, dairy, metals and chemicals, dyes and pigments, and textiles, as well as the need to treatment os wastewater will drive demand for marine biopolymers during the forecast period.
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APAC is estimated to contribute 36% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Growing demand for food and beverage products, pharmaceuticals and biomedicines, and cosmetics is driving the growth of the market in the region. APAC is the largest producer of marine biopolymers and derivatives due to the abundant availability of raw materials such as shrimp and crab in China, Vietnam, Japan, and Thailand.
Moreover, the high acceptance rate of marine biopolymers, especially in the wastewater treatment and cosmetics industries, is the main reason for the increasing demand for marine biopolymers in APAC. Furthermore, due to low-cost labor and favorable government policies and investments, the APAC region has become the largest producer of food and beverages such as fresh meat. Therefore, such investments in the food and beverage sector will further increase the demand for bio-based packaging solutions in the region, driving the growth of the APAC marine biopolymer market during the forecast period.
In 2020, the COVID-19 pandemic negatively affected the marine polymers market in the APAC region. However, in 2021, the initiation of large-scale vaccination drives?lifted the lockdown restrictions, which led to the resumption of the marine biopolymer market in the region. For packaging applications, marine biopolymers are anticipated to be in high demand from the food and beverage industry. Thus, such factors will fuel the growth of the regional marine biopolymer market during the forecast period.
The marine biopolymer market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
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Marine Biopolymer Market Scope |
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Report Coverage |
Details |
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Page number |
172 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 9.07% |
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Market growth 2023-2027 |
USD 1,411.84 million |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
8.55 |
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Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 36% |
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Key countries |
US, China, Japan, Germany, and UK |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Arkema Group, BASF SE, Bio on SpA, Biome Bioplastics Ltd., Cargill Inc., Corbion nv, Danimer Scientific Inc., Givaudan SA, Ingredion Inc., J M Huber Corp., Koninklijke DSM NV, Marinova Pty Ltd., Mitsubishi Chemical Corp., Novamont S.p.A., Oceanium Ltd., Rodenburg Biopolymers B.V., Seagarden AS, Seaweed Solutions AS, Tate and Lyle PLC, and Acadian Seaplants Ltd. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by End-user
6 Market Segmentation by Source
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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