Mussel Oil Powder Industry Overview
The global mussel oil and powder market size was valued at USD 159.70 million in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 5.3% from 2021 to 2028.
This is attributed to the increasing demand for mussel oil and powder from the food and nutrition sector worldwide. According to Harvard Business Review, the global population has quadrupled over the last century. The rising population, along with increasing income in the developed economies, has caused dietary changes such as the consumption of more protein and meat, which is driving the demand for food globally. The demand for food is expected to increase by 59% to 98% by 2050.
Gather more insights about the market drivers, restrains and growth of the Global Mussel Oil Powder Market
The dietary supplements segment was the largest application segment in 2020 and is likely to maintain its lead over the forecast period. Health benefits associated with mussel oil and powder such as improved cardiovascular health, lung potency, and bone strength foster the product demand in the dietary supplements.
Mussel oil and powder also possess antioxidant properties. The increasing health awareness amongst consumers and rising marketing efforts by the manufacturers on social media platforms and e-commerce websites regarding the benefits of consuming supplements are likely to augment the demand for dietary supplements, which, in turn, is anticipated to have a positive impact on the market growth.
The biopharmaceuticals application segment is projected to expand at the highest revenue-based CAGR of 5.9% in the forecast period. The product helps cure several health issues such as rheumatoid arthritis, osteoarthritis, asthma, inflammatory problems in the stomach, and attention deficit hyperactivity disorder (ADHD) disorder in minors. According to reports of clinical research, green-lipped mussel oil capsules can be effective in relieving joint pain by 60%. It can also help reduce the risk of heart diseases and has the ability to provide pain relief and also comfort muscular tissues. These factors are expected to fuel the growth of the market over the forecast period.
In recent times, increasing awareness regarding a healthy lifestyle has led to a substantial rise in the consumption of mussel meat and extracted supplements. The Asia Pacific market is expected to witness the highest growth in the forecast period on account of the growing population and rising awareness regarding health benefits among native consumers. The region accounts for around 30% of global pharmaceutical spending. The U.K., France, and Canada are the major importers of live and frozen mussels in the European region due to their higher medicinal usage.
Browse through Grand View Research's Food Additives Nutricosmetics Industry Research Reports.
- Functional Foods Market - The global functional foods market size was estimated at USD 161.49 billion in 2018. It is anticipated to register a CAGR of 7.9% during the forecast period. Increasing demand for nutritional and fortifying food additives is anticipated to drive the growth. Food and beverage manufacturers are deploying fortification of nutritional additives such as omega-3 fatty acids, fibers, vitamins, minerals, and others in their product offerings.
- Dietary Supplements Market - The global dietary supplements market size was valued at USD 151.9 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 8.9% from 2022 to 2030. Increasing consumer awareness toward personal health and wellbeing is expected to be a key driving factor for dietary supplements over the forecast period.
Mussel Oil Powder Market Segmentation
Grand View Research has segmented the global mussel oil and powder market on the basis of form, grade, application, distribution channel, and region:
Mussel Oil Powder Form Outlook (Volume, Tons; Revenue, USD Million, 2017 - 2028)
- Oil
- Powder
Mussel Oil Powder Grade Outlook (Volume, Tons; Revenue, USD Million, 2017 - 2028)
- Food
- Cosmetic
- Pharmaceutical
Mussel Oil Powder Application Outlook (Volume, Tons; Revenue, USD Million, 2017 - 2028)
- Processed Food
- Beauty Cosmetics
- Biopharmaceuticals
- Dietary Supplements
- Pet Food Veterinary
Mussel Oil Powder Distribution Channel Outlook (Volume, Tons; Revenue, USD Million, 2017 - 2028)
- Supermarket/Hypermarket
- Pharmacy
- E-commerce
- Retail Stores
Mussel Oil Powder Regional Outlook (Volume, Tons; Revenue, USD Million, 2017 - 2028)
- North America
- Europe
- Asia Pacific
- Central South America
- Middle East Africa
Key Companies profiled:
Some prominent players in the global mussel oil powder market include
- Blackmores
- Aroma NZ
- Bio-Mer NZ
- Nature’s Range
- Waitaki Bio
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