MarkNtel Advisors recently released a research report focusing on the Global Mussel Oil Market for the forecast period of 2023-28. This approach enhances user understanding and supports well-informed decision-making. The report comprehensively addresses significant changes, gap analyses, emerging opportunities, trends, industry dynamics, and competitive challenges using qualitative and quantitative data. To familiarize established businesses and newcomers with the present market scenario, the report offers detailed growth prospects for the industry and concise insights into competitors.
Global Mussel Oil Market Insight and Analysis:
The Global Mussel Oil Market is projected to grow at a CAGR of around 3.2% during the forecast period, i.e., 2023-28.
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Global Mussel Oil Industry Segmentation:
By Product
-Food Grade
-Pharmaceutical Grade
-Cosmetics Grade
By Application
-Processed Food
-Beauty & Cosmetics
-Biopharmaceutical
-Dietary Supplements
-Pet Food & Veterinary
By Distribution Channel
-Hypermarkets/Supermarkets
-Pharmacy
-Online
-Others
By Company
-Revenue Shares
-Competition Characteristics
Global Mussel Oil Market (2023-28): Segmentation Analysis
The Global Mussel Oil Market study from MarkNtel Advisors evaluates & highlights the major trends & influencing factors in each segment & includes predictions for the period 2023–2028 at the global, regional, and national levels. Based on the analysis, the market has been further classified as:
Based on Product:
- Food Grade
- Pharmaceutical Grade
- Cosmetics Grade
Of them all, the pharmaceutical grade dominated the mussel oil market in the historical period. It owes to the notable rise in the adoption of mussel oil within pharmaceutical products, primarily due to rising awareness of health consciousness among consumers. With a growing focus on preventive healthcare, people are seeking natural & beneficial constituents to enhance their well-being. Mussel oil has proven to be a valuable addition to pharmaceutical formulations, as it contains a rich concentration of beneficial compounds, including anti-inflammatory agents & stimulants, which offer promising health benefits. As a result, this growing demand for mussel oil in pharmaceutical grade is expected to fuel the mussel oil market expansion throughout the forecast period.
Based on Application:
- Processed Food
- Beauty & Cosmetics
- Biopharmaceutical
- Dietary Supplements
- Pet Food & Veterinary
Here, dietary supplements are anticipated to garner the highest revenue share of the Global Mussel Oil Market during 2023-28. It owes principally to the rising cases of malnutrition, growing consumer focus on health and well-being, and lack of essential nutrient intake due to busy lifestyles. Moreover, in today’s fast-paced and demanding lifestyles, where essential nutrient intake is often compromised, these supplements offer a convenient and effective solution to maintain overall health and well-being.
Being an abundant source of essential nutrients has made dietary supplements more appealing to consumers. Their impressive iron content helps prevent anemia and boosts red blood cell production, catering to health-conscious consumers seeking vitality. Moreover, the abundant presence of vitamin B12 in mussel oil adds even more value, enhancing customers’ overall well-being and making these supplements a smart choice in the market.
Another major contributor to the segment’s growth is incorporating pharmaceutical-grade mussel oil into various products aimed at treating ailments such as arthritis, asthma, ADHD, and exercise-induced muscle soreness. The potent therapeutic properties of mussel oil have garnered attention from the pharmaceutical industry, leading to its integration into medications for these specific conditions.
Global Mussel Oil Market (2023-28) Regional Projection:
Geographically, the Global Mussel Oil Market expands across:
- North America
- South America
- Europe
- Middle East & Africa
- Asia-Pacific
In 2022, the Asia Pacific region secured the largest revenue share of the Global Mussel Oil Market. It owes to the widespread presence of the green-lipped mussel in the coastal waters of Asia-Pacific, making it native to the region. Additionally, several freshwater mussel species, including Leoparreysia whitteni, Radiatula myitthanensis, & Yaukthwa elongatula, are also found in this region.
In European countries with coastal access, there is substantial engagement in coastal aquaculture, with mussel production representing more than one-third of Europe’s total aquaculture output. Notable mussel species found in this region include margaritifera magaritifera, anodonta anatina, & unio crassus, among others. The EU Commission has established favorable regulatory norms pertaining to the usage of mussel oil in functional foods. The market demand for mussel oil is expected to grow in Europe due to rising health consciousness, increasing population, and the rapid expansion of the aquaculture sector, particularly in countries like the UK & Norway.
Geographical overview:
-North America
-South America
-Europe
-The Middle East & Africa
-Asia-Pacific.
The Global Mussel Oil Market Growth:
Vegan Lifestyle Shift, Depleting Mussel Populations, & Seafood Allergies – The shift toward a vegan lifestyle largely impacts the market, as mussel oil is animal derived. Another factor posing obstacles to the market’s development is the reduced count of mussels in oceans, i.e., being impacted by global warming, pollution, and human exploitation. Additionally, the rise in allergies related to seafood consumption is expected to further decelerate the growth of the mussel oils market during 2023-28.
Top Leading key players of Global Mussel Oil Market
A thorough examination of the competitive landscape of the market involves a comprehensive analysis of its key competitors. This analysis delves deep into each company’s profile, financial achievements, market presence, potential, Research and Development (R&D) expenditures, recent strategic initiatives in the market, footprint, strengths, weaknesses, and market dominance. The information provided offers a comprehensive overview of the leading market players, including –
-Waitaki Bio
-Aroma NZ
-Nature’s Range
-Lovely Health Ltd.
-Henry Blooms Health Products
-ECI NATURAL HEALTH LTD
-Bio-Mer Ltd
-Xtend-Life
-Bio-Mer.
The Global Mussel Oil Market report addresses the following concern:
- The Global Mussel Oil Market report explores the influence of key trends on market share within the primary segments.
- What are the leading market trends that propel the expansion of the Global Mussel Oil market?
- What are the projected CAGR, market size, and growth rate for the Global Mussel Oil Market in the upcoming years?
- What are the key players in the Global Mussel Oil market, and what strategies are they implementing?
- What factors, such as industry trends, drivers, and challenges, are contributing to the growth of the Global Mussel Oil market?
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