Blue Biotechnology market at a CAGR of 7.15% during the forecast period of 2024–2032

Market Research Future (MRFR) has published on the “Global Blue Biotechnology Market”

Market Research Future (MRFR) has published a cooked research report on the “global blue biotechnology market” that contains the information from 2019 to 2032. The global blue biotechnology market is projected to register a CAGR of 7.15% during the forecast period of 2023 to 2032.

MRFR recognizes the following companies as the key players in the global blue biotechnology market Marinomed Biotech AG (Austria), Marshall Marine Products (India), Marinova (Australia), Aker BioMarine (Norway), Pharma Mar (Spain), Cyanotech Corporation (US), ADM (US), Geomarine (India), CP Kelco U.S., Inc. (US), TerSera Therapeutics LLC (US).

Blue Biotechnology Market Highlights

The global blue biotechnology market is accounted to register a CAGR of 7.15% during the forecast period and is estimated to reach USD 10.54 billion by 2032.

The blue biotechnology market is experiencing significant growth owing to several factors such as rising awareness and demand for nutraceuticals and pharmaceuticals derived from marine-based organisms. The increasing awareness associated with health benefits of marine-derived compounds is surging the demand for omega-3 fatty acids and antioxidants. Further, pharmaceuticals developed from marine sources are in high demand for their potential in treating diseases such as neurological and cancer disorders. This benefit has heightened awareness that is driving investment, research, and development in the blue biotechnology sector, burgeoning innovation and expanding market opportunities. However, stringent regulatory requirements pose a significant challenge specifically in ensuring sustainability, efficacy, and safety of the marine-based products. Nevertheless, the ongoing funding and investment in blue biotechnology promises substantial advancements in wellness and healthcare solutions across the globe.

Segment Analysis

The global blue biotechnology market has been segmented based product, application, and end user.

On the basis of product, the global blue biotechnology market is segmented into enzymes, pharma products, bulk chemicals, biopolymers, and others. The enzymes segment accounted for the largest market with a market share of over 30.44% in 2023 due to its high demand in nutraceutical and pharmaceutical companies and increasing investment in biotechnology research and development. Further, enzymes play an important role in bioremediation processes by breaking down pollutants and contaminants in marine and aquatic environments.

Based on application, the global blue biotechnology market is segmented into bioengineering, genomics, vaccine development, drug discovery, fisheries, aquaculture, biofuels, water treatment services, others. The drug discovery segment accounted for the largest market in 2023, and vaccine development is anticipated to be the fastest-growing for the forecast period of 2024–2032. Researchers are highly involved in investigating marine organisms in search of new drugs in order to treat various diseases. The compounds that are extracted from marine sources and utilized to develop drugs have demonstrated a promising way of treating cancer, neurological disorders, inflammatory diseases, and infectious diseases.

The global blue biotechnology market, based on end user, is segmented into hospitals, pharmaceutical companies, biotechnology companies, and others. The pharmaceutical companies segment accounted for the largest market with a market share of over 36.34% in 2023. Marine organisms produce a vast array of bioactive compounds with potential pharmaceutical applications. These compounds have antimicrobial, antiviral, anti-inflammatory, or anticancer properties. Also. marine-based materials, such as polysaccharides from seaweeds, can be used as drug delivery systems due to their biocompatibility and biodegradability.

Explore In-depth Market Details [Table of Content, List of Figures, List of Tables] of Blue Biotechnology Market Research Report

Regional Analysis

The global blue biotechnology market, based on region, has been divided into North America, Europe, Asia-Pacific, and Rest of the World. North America further includes US, Canada, and Mexico. Europe includes countries namely Germany, France, UK, Italy, Spain, and the Rest of Europe. The global blue biotechnology market in Asia-Pacific has been segmented into China, India, Japan, South Korea, Australia, and the Rest of Asia-Pacific. Moreover, the Rest of the World comprises of Middle East & Africa, and South America.

North America held the largest market share in terms of revenue in 2022 due to the rising incidence of chronic diseases across the region and the presence of market players. Also, North America is leading in biotechnological advancements and active support for advanced research in marine biotechnology. These advancements include facilities such as bioinformatics, genomics, bioprocessing, and bioprospecting, which are essential for drug discovery and development. 

Moreover, Europe shows significant growth during the forecast period in the blue biotechnology market due to factors such as the innovation ecosystem, strong research, government funding and support, and market expansion in nutraceuticals and pharmaceuticals derived from marine sources. Furthermore, increasing product launches are burgeoning in the European blue biotechnology market. For instance, Marinomed Biotech AG (Austria) launched a new carragelose eye drop product, MAM-1001-3, expanding the range of the marketed carragelose OTC portfolio. The product has a valid certification under the Medical Device Directive (MDD).

Furthermore, the Asia-Pacific blue biotechnology market is the fastest-growing and presents lucrative growth opportunities for the global market due to its huge patient pool, growing population, and growing geriatric population. In July 2022, the United Nations Population Fund reported that Asia-Pacific is home to more than half of the world's population. Furthermore, there has been an increase in investment in R&D in pharmaceutical and biopharmaceutical in countries in the Asia-Pacific, namely China, India, South Korea, Japan, Singapore, and Australia.

The Rest of the World region is comprised of the Middle East, Africa, and South America. The blue biotechnology market in the rest of the world is experiencing significant growth due to various factors, including increasing investments in healthcare infrastructure and rising demand for pharmaceuticals. The region present huge opportunities for marine-derived products manufacturers and distributors to contribute to the growing pharmaceutical industry and cater to the evolving needs of healthcare systems.

Key Findings of the Study

• The global blue biotechnology market is expected to reach USD 10.54 billion by 2032, at a CAGR of 7.15% during the forecast period.


• The Europe region held the second largest market share of the global market in 2023 and is the fastest-growing region, owing to the presence of huge number of start-ups that are heavily involved in forming strategic alliances.


• Based on type, the drug discovery segment held the largest market with a market share of 23.20% in 2022 and vaccine development is the fastest-growing segment during the forecast period.


• Marinomed Biotech AG (Austria), Marshall Marine Products (India), Marinova (Australia), Aker BioMarine (Norway), Pharma Mar (Spain), Cyanotech Corporation (US), ADM (US), Geomarine (India), CP Kelco U.S., Inc. (US), TerSera Therapeutics LLC (US) are the key players in the market.