Marine enzymes are bioactive ingredient which are applicable to numerous aspects such as food processing, storage, fortification and others. Marine enzymes are primarily derived from the plants and animals which lie under water. Its various advantages over traditional enzymes such as it can function at extreme temperature and pH while food processing, can be used in heat-sensitive processes, acts as thickeners and stabilizers in a variety of foods and other products, thus it is expected to support its growth across the globe during the forecast period.
Marine Enzymes Market Segmentation
Marine enzymes market is segmented on the basis of sources which includes fungi, marine plants and marine animals. Among all these segments marine animals is expected to occupy major position on the pie followed marine plants. Marine animals is further sub-segment as fishes, crabs, snakes and prawns. Among all these sub-segment fish is expected to account for major market share during the forecast period. Fish proteins such as collagens and their gelatin derivatives can perform at relatively low temperatures and can also be used in heat-sensitive processes such as gelling and clarifying, which is expected to support the demand of fish enzyme in marine enzymes market during forecast period. However, crabs and prawns are also expected to show a healthy growth during in the near future.
Marine enzymes market is also segmented on the basis of application, which includes animal feed industry, food and beverages industry, pharmaceutical industry, cosmetic industry and others (leather, pulp and paper industry). Among all these segments food and beverage industry is expected to be dominant segment in terms of revenue contribution. Increased application and advantageous property of marine enzymes in food industry is expected to support its growth in next five to six years. Moreover, pharmaceutical industry is expected to show a substantial growth in terms revenue contribution during the forecast period. Marine enzymes provide numerous health benefits which includes reduction of coronary heart disease, anti-carcinogenic and anti-inflammatory activity which is attributed to the growth of marine enzymes market through pharmaceutical industry.
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The global market for marine enzymes is expected to show a healthy growth during the forecast period. This growth has been supported by the increasing demand for healthy and nutritious food among the health conscious consumer across the globe. Globally among all the regions, North America is expected to account for the highest share followed by European region in the near future. US is expected to be the most growing market for marine enzymes in North American region. Moreover, European region is expected to be the fastest growing market followed by Asia Pacific. Continuous research and development to derive enzymes from marine animal and plants is expected to be the major factor to support its growth in developed region.
Marine Enzymes Market Drivers
Marine enzymes compounds such as photosynthetic pigments and omega-3 polyunsaturated fatty acids plays a very important role in nutraceutical industry which is expected to drive the demand of marine enzymes during the forecast period. Moreover increased usage of marine enzymes in various industry primarily in food and beverages, cosmetics and pharmaceutical industries due to its effective properties is expected to fuel the growth of marine enzymes market in the near future.
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Marine Enzymes Market Key Players
Some of the major players operating in marine enzymes market includes Biotec Pharmacon ASA, BioLume Inc., DASK Corp, ArcticZymes among others.