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Industry Insights, Market Size, CAGR, High-Level Analysis: Mussel Oil MarketThe global mussel oil market size was estimated at USD 42.8 million in 2018 and is projected to expand further at a CAGR of 4.9% from 2019 to 2025. Rising awareness about leading a healthy lifestyle and resultant demand for supplements that are a rich source of dietary fibers are anticipated to boost the product sales. Moreover, it is also used as a pet food and supplement, which will drive the product demand further. Mussel oil is extracted from green-lipped mussels, which are typically found in the coastal line of New Zealand. The oil is proven to stimulate bone health and eliminate bone deficiencies as it is a rich source of protein, omega-3 fatty acids, selenium, iron, vitamin B12, iodine, magnesium, and calcium and has low fat contents. Furthermore, it helps in the treatment of asthma and other respiratory problems, rheumatoid arthritis osteoarthritis. It also helps cure inflammatory bowel diseases. In addition, it is being studied for the treatment of ADHD in teenagers and children. The oil also shows anti-cancer properties, which is expected to boost the demand further. On the other hand, market is said to witness a slow growth in future on account of rising vegan population across the globe, which will hamper the product demand. Moreover, increasing instances of allergies caused by seafood consumption are expected to slow down the market growth.
Application Insights of Mussel Oil MarketDietary supplement was the largest product segment in 2018. The medicinal benefits associated with the product, such as improved mobility and bone, lung, and cardiovascular health, boosts its demand as a dietary supplement. The oil also possesses antioxidant properties. Thus, rising health awareness is expected to augment its demand in dietary supplements application. Biopharmaceutical is projected to register the fastest CAGR of 5.5% from 2019 to 2025. The core vitals of the product help enhance several health issues, such as asthma, osteoarthritis, rheumatoid arthritis, and inflammatory bowels. According to clinical trials, green lipped mussel oil capsules can reduce joint pain by 59%. It can also help reduce the risk of heart diseases. These factors will drive the market in biopharmaceutical segment. Distribution Channel Insights Hypermarket/supermarket is the largest distribution channel segment due to rising offline purchases. Moreover, increasing popularity of mussels in the form of dietary supplements has increased the product availability in super and hypermarkets. On the other hand, online channels are anticipated to witness the fastest growth of 5.7% over the forecast period. Rising popularity of e-commerce platforms and impact of social media platforms are the key factors driving the segment growth. Increasing number of internet and smartphone devices users across the globe will also drive the segment. In addition, online platforms offer branded products at discounted prices. Thus, easy availability and distribution as well as doorstep delivery services offered by these channels will support segment development.
Regional Insights of Mussel Oil MarketAsia Pacific was the largest market in 2018 and is projected to retain its dominance throughout the forecast years. This growth is attributed to high product demand as a result of rising target population in the region. The application of the product revolves around treatment of rheumatoid arthritis and joint related problems. In addition, rapidly expanding cosmetics and personal care industry, especially in South Korea, is estimated to boost product demand in the cosmetics market. However, Europe is anticipated to witnesses the maximum growth rate from 2019 to 2025 on account of increasing population and rising health consciousness. Moreover, the region has the largest production base after China. France, in particular, is the major importer of live and frozen mussels in this region. In addition, in April 2014, the European Commission of the Common Fisheries Policy Reform and Strategic Guidelines passed a policy with an aim to promote the aquaculture business in Europe. Thus, rapidly expanding aquaculture sector in the countries, such as Norway and U.K., will also have a positive impact on the region’s growth.
Market Share Insights of Mussel Oil MarketKey companies in the market include Waitaki Bio, Aroma NZ Ltd, Nature’s Range, Great HealthWorks, Blackmores, BioMer Limited, Lovely Health Ltd., MOXXOR LLC, Henry Blooms Health Products, and Xtend-Life. These companies are focusing on entering the newer markets to increase their product sales. They are also focusing on product innovation and portfolio expansion to gain a greater market share. For instance, in 2018, Korure Ltd. expanded its Chinese market by introducing anti-inflammatory phospholipid oil products in the country. In November 2018, Sanford Health launched a range of nutraceutical products.
Segmentations, Sub Segmentations, CAGR, & High-Level Analysis overview of Mussel Oil Market Research ReportThis report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2025. For the purpose of this study, this market research report has segmented the global mussel oil market report on the basis of application, distribution channel, and region: Application Outlook (Revenue, USD Million, 2019 - 2030) Processed Food Beauty & Cosmetics Biopharmaceutical Dietary Supplements Pet Food & Veterinary Distribution Channel Outlook (Revenue, USD Million, 2019 - 2030) Hypermarket/Supermarket Pharmacy Online Others
Table of Contents Chapter 1. Methodology and Scope 1.1. Market Segmentation & Scope 1.2. Market Definition 1.3. Information Procurement 1.3.1. Purchased Database 1.3.2. GVR’s Internal Database 1.3.3. Secondary Sources & Third-Party Perspectives 1.3.4. Primary Research 1.4. Information Analysis 1.4.1. Data Analysis Models 1.5. Market Formulation & Data Visualization | read more...