Marine Biotechnology Global Market Report 2024

The marine biotechnology market has grown strongly in recent years. It will grow from $5.79 billion in 2023 to $6.25 billion in 2024 at a compound annual growth rate (CAGR) of 7.9%. The expansion observed in the historical period can be attributed to environmental concerns, opportunities in bioprospecting, increased demand in the pharmaceutical and nutraceutical sectors, innovation in aquaculture, and exploration in bioenergy.

The marine biotechnology market is expected to see strong growth in the next few years. It will grow to $8.28 billion in 2028 at a compound annual growth rate (CAGR) of 7.3%. The anticipated growth in the forecast period can be attributed to efforts in climate change mitigation, applications in bioremediation, advancements in pharmaceutical drug discovery, solutions for food security, and the integration of bioinformatics. Key trends expected in the forecast period include the application of aquatic biotechnology in personal care, the incorporation of synthetic biology in marine organisms, collaborations in the field of marine biotechnology, the promotion of climate-resilient agriculture, and initiatives focused on education and awareness in marine biotechnology.

The anticipated surge in demand for marine biotechnology in the energy sector is set to drive the growth of the marine biotechnology market. The energy sector comprises businesses involved in extracting, refining, or providing consumable fuels such as coal, oil, and gas. Marine biotechnology plays a crucial role in advancing more efficient and environmentally friendly energy systems, leveraging marine microbes for converting waste into electricity and microalgae for biofuel production. Its significance in the energy sector lies in harnessing unique features of marine organisms for applications such as biofuel generation, marine renewable energy, biodegradable products, and bioremediation. With the International Energy Agency (IEA) reporting a substantial 6% increase in global energy demand in January 2022, reaching over 1,500 terawatt-hours, the rising demand for marine biotechnology in the energy sector propels the marine biotechnology market.

The upward trend in biofuel production is expected to further bolster the growth of the marine biotechnology market. Biofuel, derived from organic materials undergoing biological processes, represents a renewable energy source. Marine biotechnology contributes to biofuel development, providing eco-friendly alternatives in response to the growing demand for renewable energy. As reported by the International Energy Agency in July 2023, biofuel demand surged to an unprecedented 4.3 exajoules (170,000 million liters) in 2022, with projections indicating a surpassing of 10 exajoules by 2030. The biofuels derived from waste, residues, and non-food energy crops are projected to fulfill over 40% of the total biofuel demand by 2030. This marks a significant increase from the approximately 9% share observed in 2021. Consequently, the rise in biofuel production becomes a driving force for the marine biotechnology market.

Product innovations emerge as a prominent trend gaining traction in the marine biotechnology market, with major companies focused on innovating new products to solidify their market position. For instance, in January 2021, Jellagen, a UK-based marine biotechnology company, introduced JellaGel, the first collagen type 0 hydrogel derived from jellyfish collagen. This 3-dimensional hydrogel has demonstrated significant advantages in cell viability, morphology, proliferation, and differentiation compared to 2D-grown cells. JellaGel holds promise as a matrix for new drug screening models and human tumor xenograft models in cancer drug discovery programs.

Major companies operating in the marine biotechnology market are developing marine bacteria-derived proteins to expand their customer bases, drive sales, and increase revenue. Marine bacteria-derived proteins are sourced from bacteria in marine environments. For instance, in December 2022, TransGen Biotech Co. Ltd., a China-based company, launched Uracil-DNA Glycosylase (Low Temperature), a recombinant protein from psychrophile marine bacteria. This enzyme efficiently hydrolyzes the N-glycosidic bond between uracil (dU) base and deoxyribose in DNA, eliminating aerosol contamination in PCR products containing dU.

In December 2021, Donaldson Company, a US-based filtration company, acquired Solaris Biotechnology for approximately $44.34 million. This strategic acquisition positions Donaldson Company to offer comprehensive solutions to customers in the food and beverage industry and enhances its access to the biopharmaceutical and life sciences markets. Solaris Biotechnology, based in Italy, produces marine impellers widely used in cell culture processes for generating axial flow.

Major companies operating in the marine biotechnology market report are Cyanotech Corporation, CP Kelco US Inc., PharmaMar S.A., Sea Run Holdings Inc., Nofima A.S., New England Biolabs Inc., Lonza Group Ltd., NovaMatrix, GlycoMar Ltd., SEPPIC Inc., Marinova Pty. Ltd., Prolume Ltd., Aker Biomarine Antarctic AS ., Badische Anilin- und Sodafabrik, Nutrex Hawaii Inc., Royal DSM N.V, Tequesta Bioventures LLC, Marinomed Biotech AG, AstaReal Co. Ltd., Euglena Co.Ltd., Earthrise Nutritionals LLC, Bluebiotech International GmbH, Sams Corporation, Abbott Laboratories, Qingdao Codo International Ltd., Nutrex Hawai Inc., Kepley Biosystems Incorporated, Finless Foods Inc., Jellagen Pty Ltd., Ingenza Ltd., AMSilk GmbH, Centre for Process Innovation Limited, KnipBio Inc.

Europe was the largest region in the marine biotechnology market in 2023. The regions covered in the marine biotechnology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the marine biotechnology market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary categories of marine biotechnological products include bioactive substances and biomaterials. Bioactive substances encompass a broad spectrum of biological, pharmacological, and nutraceutical activities, known for their beneficial effects on nutrition and health. Sources of these substances include corals and sponges, algae, marine viruses, marine fungi, and others. Various technologies are employed, such as the isolation and cultivation of microorganisms and culture-independent techniques. These technologies find applications in diverse fields, including aquaculture and food products, environmental and human health, and drug discovery. End-users of marine biotechnological products span industries such as medical and pharmaceutical, the food industry, the cosmetic industry, the chemical industry, and more.

The marine biotechnology market research report provides marine biotechnology market statistics, including marine biotechnology industry global market size, regional shares, competitors with a marine biotechnology market share, detailed marine biotechnology market segments, market trends and opportunities, and any further data you may need to thrive in the marine biotechnology industry. This marine biotechnology market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The marine biotechnology market includes revenues earned by entities by providing services such as bioprospecting and bioactive compound discovery, genetic analysis and genomic studies, bioprocessing, fermentation, pharmaceutical discovery, and materials technology. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


This product will be delivered within 3-5 business days.