The global Mussel Oil and Power Market was valued at USD 159.70 billion in 2020 and is anticipated to amplify with a CAGR of 5.98% over 2022-2030, thereby amassing USD 274.08 billion by the end of the analysis timeframe.
Mussel is the common name used for members of bivalve molluscus, from freshwater and saltwater habitats. These groups have asymmetrical and elongated shell outlines and are edible in nature. Mussels are known for their high nutritional content and are recommended to patients with irregular blood pressure and other ailments.
Mussel oil & powder are referred to as food supplements made from mussel extracts. They are a great source of vitamin B12, Omega-3 fatty acids, protein, zinc, and folate and help in treating asthma, inflammation, and arthritis.
Mussel oil and powder market- Growth determinants and challenges
Escalating demand for mussel based food supplements from biopharmaceutical sectors, the high nutritional profile of the products, and rising health awareness among the masses are aiding industry expansion. Alongside, rising prevalence of lifestyle diseases and growing consumption of packaged food are augmenting market outlook.
Furthermore, surging incorporation of mussel oil in processed food and increasing requirement for dietary supplements among the young population are positively swaying the industry dynamics. Also, research & development activities in the field and rising dependence on social media platforms to analyze the benefits of mussel oil and powder are adding traction to industry progression.
On the contrary, high product costs and stringent regulatory approval processes are impeding the growth of global mussel oil and powder market.
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Segmental analysis of the market sphere
By grade
- cosmetics
- pharmaceutical
- food
The food grade segment is poised to garner significant revenue over the assessment timeframe due to the rapid development in the food industry powered by population expansion and surging investments.
Based on end use
- biopharmaceutical
- cosmetics & personal care
- dietary supplements
- pet food & veterinary
- processed food
The dietary application segment is projected to capture a high market share over 2022-2030 ascribing to growing consumer inclination towards high quality health supplements due to stressful lifestyle.
By sales
- online stores
- specialty stores
- hypermarket/supermarket
The online sales channel segment is estimated to expand substantially over the forecast timeline owing to rapid digitalization, lifestyle improvements, and rising penetration of smart devices across the globe.
Expounding the geographical landscape and competitive hierarchy of the industry
North America, Asia Pacific, Europe, Latin America, and Middle East & Africa are the major benefactors to the progression of this business vertical. Among these, Asia Pacific market is anticipated to showcase lucrative expansion trends over the forecast timeframe attributing to the presence of major personal care and cosmetic companies. Additionally, rise in purchasing power of the masses, growing cognizance about the benefits of dietary supplements, coupled with escalating demand for organic and natural products are aiding APAC regional market development.
The prominently players influencing global mussel oil and powder market trends are Lintbells Ltd., Lovely Health Ltd., Aroma NZ, Moxxor LLC, Enzaq Aquaculture Ltd., Xtend-Life, E.F.S.- Holland, Bio Mer New Zealand, Henry Blooms Health Products, Nature’s Range, and Waitaki Bio.
Notably, Kiwi, Inc. in August 2018 launched its anti-inflammatory phospholipid oil in China. The product is extracted from green-lipped mussel and has the ability to cure arthritis and other joint problems.
Also, in December 2019, New Zealand based sea food company invested USD 13 billion for the development of a marine extracts center in New Zealand aimed at producing nutraceutical edibles.
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