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    Blue Biotechnology Market

    ID: MRFR/LS/0242-CR
    208 Pages
    Rahul Gotadki
    June 2024

    Blue Biotechnology Market Research Report Information by Product (Enzymes, Pharma Products, Bulk Chemicals, and Others), by Application (Bioengineering, Genomics, Vaccine Development, Drug Discovery, Fisheries, Aquaculture, Biofuels, Water Treatment Services, and Others), and by End User (Hospitals, Pharmaceutical Companies, Biotechnology Companies, and Others) and by Region (North America, Europe, Asia-Pacific, and Rest of the World) - Forecast till 2035

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    Blue Biotechnology Market Infographic
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    Blue Biotechnology Market Summary

    The Global Blue Biotechnology Market is projected to grow from 5.65 USD Billion in 2024 to 12.08 USD Billion by 2035.

    Key Market Trends & Highlights

    Blue Biotechnology Key Trends and Highlights

    • The market is expected to experience a compound annual growth rate (CAGR) of 7.15 percent from 2025 to 2035.
    • By 2035, the market valuation is anticipated to reach 12.08 USD Billion, reflecting substantial growth opportunities.
    • in 2024, the market is valued at 5.65 USD Billion, indicating a robust starting point for future expansion.
    • Growing adoption of sustainable marine resources due to increasing environmental awareness is a major market driver.

    Market Size & Forecast

    2024 Market Size 5.65 (USD Billion)
    2035 Market Size 12.08 (USD Billion)
    CAGR (2025-2035) 7.15%

    Major Players

    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 Trends

    Increasing Awareness of Blue Biotechnology-Based Nutraceuticals and Pharmaceuticals

    The increasing awareness of blue biotechnology-based nutraceuticals and pharmaceuticals is playing a pivotal role in fueling the growth of the blue biotechnology market. As consumers become more conscious of the health benefits offered by marine-derived compounds, there is a growing demand for products derived from marine organisms.

    Nutraceuticals containing marine ingredients such as omega-3 fatty acids, antioxidants, and minerals are gaining popularity due to their perceived health-promoting properties. For instance, Cyanotech Corporation (US) manufactures BioAstin Hawaiian Astaxanthin, which is a nutrient powder that treats immune, skin, and joint health.

    Moreover, pharmaceuticals developed from marine organisms are garnering attention for their potential in treating various diseases, including cancer, infectious diseases, and neurological disorders. For instance, PharmaMar (Spain) manufacturer Yondelis compound derived from the colonial sea squirt ecteinascidia turbinata recommends treating soft tissue sarcoma as a monotherapy.

    Furthermore, it is also utilized in treating ovarian cancer in combination with Doxil (PLD). Moreover, Eisai Co., Ltd. (Japan) manufactures HALAVEN injection, which is developed from a natural substance found in a sea sponge and is utilized to treat unresectable or metastatic liposarcoma.

    Strategic acquisition and product launch in marine biotechnology are accelerating the discovery, development, and commercialization of novel marine-derived compounds. These initiatives not only broaden the product pipeline, but also promote technological advancements in fields such as bioprospecting, bioprocessing, and marine genomics.

    For instance, in July 2019, Aker BioMarine (Norway) acquired Lang Pharma Nutrition (US) which has 35 years of history in the nutrition & dietary supplement and focus on health-benefit driven products. Lang will aid Aker BioMarine expand its brand in the US.

    Thus, the Blue Biotechnology Market is expanding due to rising awareness of blue biotechnology-based nutraceuticals and pharmaceuticals, as well as strategic initiatives focused on marine organisms.

    The Global Blue Biotechnology Market is poised for transformative growth, driven by advancements in marine biotechnology and the increasing demand for sustainable solutions in pharmaceuticals and agriculture.

    U.S. National Oceanic and Atmospheric Administration (NOAA)

    Blue Biotechnology Market Drivers

    Market Growth Projections

    The Global Blue Biotechnology Market Industry is projected to experience substantial growth in the coming years. With an expected market size of 5.65 USD Billion in 2024, the industry is set to expand significantly, reaching 13.0 USD Billion by 2035. This growth trajectory suggests a compound annual growth rate (CAGR) of 7.84% from 2025 to 2035, indicating a robust interest in marine biotechnology. The increasing recognition of the potential of marine resources in various applications, including pharmaceuticals and environmental sustainability, is likely to drive this growth.

    Government Support and Funding

    Government initiatives and funding play a crucial role in the growth of the Global Blue Biotechnology Market Industry. Various countries are recognizing the economic potential of marine resources and are investing in research and development to promote innovation in this field. For example, funding programs aimed at supporting marine research projects are becoming increasingly common. This support not only fosters innovation but also encourages collaboration between academia and industry. As a result, the market is likely to experience a compound annual growth rate (CAGR) of 7.84% from 2025 to 2035, driven by enhanced research capabilities and technological advancements.

    Emerging Applications in Healthcare

    The Global Blue Biotechnology Market Industry is experiencing a surge in emerging applications within the healthcare sector. Marine organisms are being explored for their therapeutic potential, particularly in drug discovery and development. Compounds derived from marine sources have shown promise in treating various diseases, including cancer and inflammatory disorders. This trend is expected to contribute to the market's expansion, with projections indicating a growth to 13.0 USD Billion by 2035. The increasing focus on marine-derived pharmaceuticals reflects a broader shift towards utilizing natural resources for innovative healthcare solutions.

    Advancements in Marine Biotechnology

    Technological advancements in marine biotechnology are propelling the Global Blue Biotechnology Market Industry forward. Innovations in genetic engineering and bioinformatics are enabling researchers to harness the genetic diversity of marine organisms, leading to the discovery of novel bioactive compounds. These compounds have applications in pharmaceuticals, nutraceuticals, and cosmetics. The market is expected to grow significantly, with projections indicating a rise to 13.0 USD Billion by 2035. This growth is indicative of the potential that marine resources hold in contributing to health and wellness, thereby attracting investments and research initiatives.

    Growing Awareness of Marine Ecosystems

    There is a growing awareness of the importance of marine ecosystems and their potential contributions to biotechnology. The Global Blue Biotechnology Market Industry is benefiting from increased public interest in marine conservation and the sustainable use of ocean resources. Educational campaigns and initiatives aimed at promoting the value of marine biodiversity are fostering a culture of sustainability. This heightened awareness is likely to drive demand for marine-derived products, as consumers become more conscious of their choices. As the market continues to evolve, it is anticipated that the integration of sustainable practices will further enhance its growth trajectory.

    Rising Demand for Sustainable Solutions

    The Global Blue Biotechnology Market Industry is witnessing an increasing demand for sustainable solutions across various sectors, including pharmaceuticals, agriculture, and food production. This shift is largely driven by the need to reduce environmental impact and promote sustainable practices. For instance, marine-derived compounds are being explored for their potential in drug development, which aligns with the global push towards sustainability. As the market evolves, it is projected to reach 5.65 USD Billion in 2024, reflecting a growing recognition of the importance of blue biotechnology in addressing ecological challenges.

    Market Segment Insights

    Blue Biotechnology Market Product Insights

    Based on product, the Blue Biotechnology Market is segmented into enzymes, pharma products, bulk chemicals, biopolymers, and others. The enzyme segment accounted for the largest market in 2023, and biopolymers segment is anticipated to be the fastest-growing for the forecast period of 2024–2032.

    The growth of the product segment is driven by various factors, including the continuous innovation in biotechnology such as protein engineering and genetic engineering in order enhance production and application capabilities of enzyme, rising demand for pharmaceuticals such as hormones, vaccines, among others.

    Further, growing shifts towards the bio-based chemicals and rising investment in R&D in order to discover and develop new chemical compounds from marine sources is burgeoning the market growth.

    Blue Biotechnology Market Application Insights

    Based on type, the Blue Biotechnology Market has been segmented into bioengineering, genomics, vaccine development, drug discovery, fisheries, aquaculture, biofuels, water treatment services, and others. Drug discovery held the largest market share in 2023 and is anticipated to register the highest CAGR from 2023 to 2032.

    Bioengineering encompasses a wide range of disciplines, including genetic engineering, tissue engineering, biomedical engineering, and synthetic biology. Bioengineers can then work on isolating and synthesizing compounds from these organisms for drug development. This could lead to the discovery of novel antibiotics, anticancer agents, or treatments for other diseases.

    Moreover, increasing research and development for drug development with the help of genomics and investing in advanced water treatment solutions can lead to long-term cost savings and operational benefits for healthcare organizations, which are factors contributing to the application segment growth.

    Blue Biotechnology Market End User Insights

    Based on end user, the blue biotechnology market is segmented into hospitals, pharmaceutical companies, biotechnology companies, and others. Biotechnology companies held the largest market share in 2023 and are anticipated to register the highest CAGR during the forecast period.

    As research activities are increasing, researchers are also focusing on exploring marine diversity and developing biotechnological solutions through marine organisms. Moreover, there is a high demand for eco-friendly products, and sustainability is also contributing to the end-user segment.

    Furthermore, growing regulatory initiatives in support of marine biotechnology research and development are also driving the market.

    Get more detailed insights about Blue Biotechnology Market Research Report - Global Forecast to 2032

    Regional Insights

    By region, the market is divided into North America, Europe, Asia-Pacific, and the Rest of the World. North America accounted for the largest market share of over 36.04% in 2023, owing to the increasing investment in research and development activities, advanced healthcare infrastructure, and presence of established drug manufacturers in North America.

    Further, the presence of renowned market players who are actively involved in fulfilling consumer demand in the region is burgeoning the region’s market growth. For instance, Cyanotech Corporation (US) sells BioAstin through Nutrex Hawaii as a packaged consumer product to natural product distributors, retailers, and online channels, as well as directly to consumers.

    It is also supplied as a raw ingredient to dietary supplements, health foods, and cosmetic manufacturers in the form of liquid lipids. BioAstin gelcaps are available in bulk to international distributors. Thus, the presence of such market players, who are expanding their presence through distributors and online channels, is fostering the region’s growth.

    Further, the major countries studied are: The US, Canada, Brazil, Germany, France, the UK, Italy, Spain, China, India, Japan, South Korea, and Australia.

    FIGURE 3: BLUE BIOTECHNOLOGY MARKET, BY REGION, 2023 & 2032 (USD BILLION)

    BLUE BIOTECHNOLOGY MARKET, BY REGION, 2023 & 2032

    Source: Secondary Research, Primary Research, Market Research Future Database and Analyst Review

    The Europe blue biotechnology market shows significant growth during the forecast year, i.e., 2024–2032, owing to the presence of huge start-ups associated with blue biotechnology. For instance, Calouste Gulbenkian and the Oceano Azul Foundations, both headquartered in Portugal, received more than 120 projects from over 30 countries until September 2020 associated with blue biotechnology.

    Further, in September 2020, Blue Bio Value (Portugal) launched its acceleration program for startups related to the blue bioeconomy with 15 projects from eight different countries in Europe: Portugal, Spain, France, Ireland, Italy, The Netherlands, and the United Kingdom. The Germany blue biotechnology market held the largest market share in 2023, and the UK blue biotechnology market is the fastest-growing market in the Europe region.

    The Asia-Pacific blue biotechnology market is the fastest-growing region during the forecast period owing to high demand for marine-derived products in various industries including agriculture, pharmaceuticals, cosmetics, among others. Furthermore, advances in biotechnological tools and techniques, such as genomics, proteomics, and metabolomics, have made it easier to investigate and exploit marine resources which is burgeoning the market growth.

    These technologies allow researchers to more efficiently identify, isolate, and produce valuable compounds from marine organisms. Moreover, China blue biotechnology market held the largest market share in 2023 and India blue biotechnology market is the fastest growing market in the Asia-Pacific region.

    Key Players and Competitive Insights

    The blue biotechnology market is distinguished by the presence of many global, regional, and local players. The increasing awareness of blue biotechnology-based nutraceuticals and pharmaceuticals and strategic initiatives associated with pharmaceuticals and nutraceuticals sourced from marine organisms are further expected to drive the growth of the blue biotechnology market during the forecast period.

    However, stringent regulatory policies may hamper the growth of the blue biotechnology market. The major players have adopted a strategy of obtaining regulatory approval from government agencies for their devices and signing contracts and agreements to broaden their reach and reduce operational costs.

    Marinomed Biotech AG (Austria) is a growing Austrian biopharmaceutical company with a focus on innovative therapies for respiratory and immunological diseases.Marinomed specializes in creating cutting-edge treatments for conditions related to virology and immunology.

    Leveraging the virus-blocking capabilities of Carragelose, the company has introduced a range of over-the-counter products designed to combat viral respiratory infections. Recently, the company further diversified its portfolio by introducing an allergen-blocking nasal spray and hydrating eye drops in the field of immunology.

    Moreover, in March 2024, the company entered into partnerships with GAIA Healthcare FZ LLC (UAE) and VitaPlus Kft (Hungary) for the distribution of Carragelose nasal sprays distribution for Gulf region and Eastern Europe

    Key Companies in the Blue Biotechnology Market market include

    Industry Developments

    March 2024: Aker BioMarine (Norway) launched FloraMarine, an algae-derived DHA component. FloraMarine is a novel plant-based, marine source of DHA omega-3 from algae. FloraMarine's high-strength DHA from a clean, sustainable plant source gives brands a competitive edge in response to customer demand.

    June 2023: 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).

    December 2023: PharmaMar (Spain) has announced that its licensing partner, Luye Pharma Group Ltd. (China), has received marketing approval for Zepzelca (lurbinectedin) by the Pharmaceutical Administration Bureau in Macao for the treatment of adult patients with metastatic Small-Cell Lung Cancer (SCLC), with disease progression on or after platinum-based chemotherapy.

    October 2020: Cyanotech Corporation (US) unveiled BioAstin Hawaiian Astaxanthin, a new powder that comes in concentrations of 1% and 2% and is soluble in water. Grown organically on Hawaii's Big Island's Kona Coast, Haematococcus pluvialis microalgae are the source of the potent antioxidant BioAstin Hawaiian Astaxanthin.

    Future Outlook

    Blue Biotechnology Market Future Outlook

    The Blue Biotechnology Market is projected to grow at a 7.15% CAGR from 2025 to 2035, driven by advancements in marine bioproducts, sustainable practices, and increasing demand for bio-based solutions.

    New opportunities lie in:

    • Develop innovative marine-derived pharmaceuticals targeting chronic diseases. Invest in sustainable aquaculture technologies to enhance productivity. Explore bioremediation solutions utilizing marine microorganisms for environmental restoration.

    By 2035, the Blue Biotechnology Market is expected to achieve substantial growth, reflecting its critical role in sustainable development.

    Market Segmentation

    Blue Biotechnology Market Type Outlook

    • Bioengineering
    • Genomics
    • Vaccine Development
    • Drug Discovery
    • Fisheries
    • Aquaculture
    • Biofuels
    • Water Treatment Services
    • Others

    Blue Biotechnology Market Product Outlook

    • Enzymes
    • Pharma Products
    • Bulk Chemicals
    • Biopolymers
    • Others

    Blue Biotechnology Market End User Outlook

    • Hospitals
    • Pharmaceutical Companies
    • Biotechnology Companies
    • Others

    Blue Biotechnology Market Regional Outlook

    North America
    • 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)
    • Enzymes
    • Pharma Products
    • Bulk Chemicals
    • Biopolymers
    • Others
    • Bioengineering
    • Genomics
    • Vaccine Development
    • Drug Discovery
    • Fisheries
    • Aquaculture
    • Biofuels
    • Water Treatment Services
    • Hospitals
    • Pharmaceutical Companies
    • Biotechnology Companies
    • US
    • Canada
    • Mexico
    • Germany
    • France
    • UK
    • Italy
    • Spain
    • Rest of Europe
    • China
    • India
    • Japan
    • South Korea
    • Australia
    • Rest of Asia-Pacific
    • Middle East & Africa South America
    • Middle East & Africa
    • South America
    Europe
    • 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)
    • Enzymes
    • Pharma Products
    • Bulk Chemicals
    • Biopolymers
    • Others
    • Bioengineering
    • Genomics
    • Vaccine Development
    • Drug Discovery
    • Fisheries
    • Aquaculture
    • Biofuels
    • Water Treatment Services
    • Hospitals
    • Pharmaceutical Companies
    • Biotechnology Companies
    • US
    • Canada
    • Mexico
    • Germany
    • France
    • UK
    • Italy
    • Spain
    • Rest of Europe
    • China
    • India
    • Japan
    • South Korea
    • Australia
    • Rest of Asia-Pacific
    • Middle East & Africa South America
    • Middle East & Africa
    • South America
    Asia-Pacific
    • 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)
    • Enzymes
    • Pharma Products
    • Bulk Chemicals
    • Biopolymers
    • Others
    • Bioengineering
    • Genomics
    • Vaccine Development
    • Drug Discovery
    • Fisheries
    • Aquaculture
    • Biofuels
    • Water Treatment Services
    • Hospitals
    • Pharmaceutical Companies
    • Biotechnology Companies
    • US
    • Canada
    • Mexico
    • Germany
    • France
    • UK
    • Italy
    • Spain
    • Rest of Europe
    • China
    • India
    • Japan
    • South Korea
    • Australia
    • Rest of Asia-Pacific
    • Middle East & Africa South America
    • Middle East & Africa
    • South America
    Rest of the World
    • 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)
    • Enzymes
    • Pharma Products
    • Bulk Chemicals
    • Biopolymers
    • Others
    • Bioengineering
    • Genomics
    • Vaccine Development
    • Drug Discovery
    • Fisheries
    • Aquaculture
    • Biofuels
    • Water Treatment Services
    • Hospitals
    • Pharmaceutical Companies
    • Biotechnology Companies
    • US
    • Canada
    • Mexico
    • Germany
    • France
    • UK
    • Italy
    • Spain
    • Rest of Europe
    • China
    • India
    • Japan
    • South Korea
    • Australia
    • Rest of Asia-Pacific
    • Middle East & Africa South America
    • Middle East & Africa
    • South America

    Report Scope

    Attribute/MetricDetails
    Market Size 2024USD 5.65 billion
    Market Size 203512.08
    Compound Annual Growth Rate (CAGR)7.15% (2025 - 2035)
    Base Year2024
    Forecast Period2025 - 2035
    Historical Data2019 to 2022
    Forecast UnitsValue (USD Billion)
    Report CoverageRevenue Forecast, Competitive Landscape, Growth Factors, and Trends
    Segments CoveredProduct, Application, End User, and Region
    Geographies CoveredNorth America, Europe, Asia Pacific, and Rest of the World
    Countries CoveredThe US, Canada, Brazil, Germany, France, the UK, Italy, Spain, China, India, Japan, South Korea, Australia.
    Key Companies ProfiledMarinomed 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), among others
    Key Market OpportunitiesIncreasing investment in the development of blue biotechnology-based medicine
    Key Market DriversIncreasing awareness of blue biotechnology-based nutraceuticals and pharmaceuticals Strategic initiatives associated with pharmaceuticals and nutraceuticals sourced from marine organisms
    Market Size 20256.05

    Market Highlights

    Author
    Rahul Gotadki
    Assistant Manager

    He holds an experience of about 7+ years in Market Research and Business Consulting, working under the spectrum of Life Sciences and Healthcare domains. Rahul conceptualizes and implements a scalable business strategy and provides strategic leadership to the clients. His expertise lies in market estimation, competitive intelligence, pipeline analysis, customer assessment, etc. In addition to the above, his other responsibility includes strategic tracking of high growth markets & advising clients on the potential areas of focus they could direct their business initiatives

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    FAQs

    How much is the Blue Biotechnology Market?

    The Blue Biotechnology Market is anticipated to reach 10.54 billion by 2032 at a CAGR of 7.15% during the forecast period of 2024-2032.

    How big is the US blue biotechnology market?

    The US held 87.29% share of North America for blue biotechnology market in 2023.

    What is the growth rate of the Blue Biotechnology Market?

    The Blue Biotechnology Market is expected to grow at a 7.15% CAGR during the forecast period from 2024 to 2032.

    Which region held the largest market share in the Blue Biotechnology Market?

    The North America region market held the largest market share in the Blue Biotechnology Market.

    Who are the key players in the Blue Biotechnology Market?

    The key players include 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).

    Which product led the Blue Biotechnology Market?

    The enzymes of product segment led the Blue Biotechnology Market in 2023.

    Which application had the largest market share in the Blue Biotechnology Market?

    The biotechnology companies’ segment had the largest market in 2023 with a market share around 36.34%.

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