Market Definition
Mussel oil is derived from green-lipped mussels and contains high omega-3 fatty acids, benefiting heart & brain health. It is also rich in magnesium, vitamin B12, iodine, and proteins, promoting bone health and treating deficiencies. Green-lipped mussels primarily inhabit the northern & central regions of New Zealand, where they form dense beds in the shallow sub-tidal environment and gather in aggregations in the intertidal environment.
Market Insights & Analysis: Global Mussel Oil Market (2023-28)
The Global Mussel Oil Market is projected to grow at a CAGR of around 3.2% during the forecast period, i.e., 2023-28. The market is anticipated to experience a significant upswing as consumers increasingly prioritize health-conscious choices, favoring natural & beneficial products like mussel oil in the food & nutrition sector, presenting promising growth prospects for the market.
| Report Coverage | Details |
|---|---|
| Study Period | Historical Data: 2018-21 |
| Base Year: 2022 | |
| Forecast Period: 2023-28 | |
| CAGR (2023-2028) | 3.2% |
| Regions Covered | North America: US, Canada, Mexico |
| Europe: Germany, The UK, France, Spain, Italy, Rest of Europe | |
| Asia-Pacific: China, India, Japan, South Korea, Australia, Rest of Asia-Pacific | |
| South America: Brazil, Argentina, Rest of South America | |
| Middle East & Africa: UAE, Saudi Arabia, Qatar, Egypt, South Africa, Rest of the Middle East & Africa | |
| Key Companies Profiled | Waitaki Bio, Aroma NZ, Nature's Range, Lovely Health Ltd., Henry Blooms Health Products, ECI NATURAL HEALTH LTD, Bio-Mer Ltd, & Xtend-Life. |
| Unit Denominations | USD Million/Billion |
The global market for mussel oil is also fueled by its growing healthcare applications, particularly for the treatment of conditions like asthma, cancer, & ADHD, as well as its efficacy in providing pain relief while soothing muscular tissues. As a result, the healthcare industry has taken a keen interest in mussel oil, bolstering its demand and contributing to the overall market growth.
Moreover, the rise of aquaculture activities has also positively impacted the mussel oil market growth. The increasing production of mussels to meet the global demand translates into abundant raw materials for mussel oil extraction, ensuring a steady supply of this valuable oil. Further advancements in the field of nutraceuticals & functional foods have also expanded the scope of mussel oil applications. Additionally, ongoing R&D efforts are uncovering new health benefits & therapeutic uses for this oil, opening up new opportunities for market diversification and growth during 2023-28..
Global Mussel Oil Market Driver
Rising Demand for Sustainable & Natural Alternatives in Preventive Healthcare - Mussel oil, rich in essential nutrients such as omega-3 fatty acids, antioxidants, and anti-inflammatory compounds, has been linked to improved joint health, heart health, and cognitive function. As awareness about the importance of preventive healthcare and holistic well-being, consumers seek sustainable and natural alternatives to conventional supplements and medications. The Global Mussel Oil Market is expected to experience steady expansion as health-conscious individuals, athletes, and aging populations increasingly embrace mussel oil's potential to enhance overall health and vitality. Manufacturers and suppliers are also investing in research and development to innovate and diversify product offerings, thereby meeting the evolving demands of discerning consumers and capitalizing on this burgeoning market trend.
Global Mussel Oil Market Growth Restraint
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.
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:
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:
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:
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.
On the other hand, North America is projected to witness a considerable rise in demand for mussel oil over the coming years. The region is home to around 300 species of freshwater mussels, with the blue variant being a dominant species. Freshwater mussels are distributed across 49 states in the US. Although the region is comparatively a smaller player in terms of global production, the market demand is set to rise during 2023-28, backed by the availability of mussels for oil & powder production, as well as an increasing preference for nutrient-rich products in response to changing lifestyles & dietary habits.
Global Mussel Oil Industry Recent Development
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Frequently Asked Questions
A. The Mussel Oil Market is projected to grow at a CAGR of around 3.2% during 2023-28.
A. The rising demand for sustainable & natural alternatives in preventive healthcare is the prime aspect projected to drive the Mussel Oil Market through 2028.
A. During 2023-28, the Mussel Oil Market share is likely to be held mainly by the pharmaceutical grade.
A. The Mussel Oil Market leaders include Waitaki Bio, Aroma NZ, Nature's Range, Lovely Health Ltd., Henry Blooms Health Products, ECI NATURAL HEALTH LTD, Bio-Mer Ltd, & Xtend-Life.
A. Globally, Asia-Pacific would provide lucrative prospects for the Mussel Oil Market in the years ahead.
A. Vegan lifestyle trends, depleting mussel populations, & seafood allergies are the possible restraints affecting the growth of the Mussel Oil Market.
Global Mussel Oil Market Research Report (2023-2028) - Table of Contents
