LOS ANGELES, July 25, 2022 (GLOBE NEWSWIRE) — The Global Mussel Oil & Powder Market size accounted for USD 166 Million in 2021 and is estimated to reach USD 258 Million by 2030.
According to our global mussel oil & powder industry analysis, the growing prevalence of asthma and arthritis is driving the market. According to the World Health Organization statistics, asthma affected a projected 262 million people in 2019 and killed 455,000 people worldwide. Furthermore, the Centers for Disease Control and Prevention (CDC) reported that between 2013 and 2015, around 58.5 million US adults (22.7%) had been told by a physician that they had some version of arthritis, rheumatoid arthritis, lupus, gout, or fibromyalgia. Furthermore, according to our mussel oil and powder market forecast, the growing use of these products in the cosmetic and personal care industries will drive demand from 2022 to 2030.
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|Market||Mussel Oil & Powder Market|
|Market Size 2021||USD 166 Million|
|Market Forecast 2030||USD 258 Million|
|CAGR During 2022 – 2030||5.2%|
|Analysis Period||2018 – 2030|
|Forecast Data||2022 – 2030|
|Segments Covered||By Form, By Grade, By Distribution Channel, By Application, And By Geography|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Key Companies Profiled||Aroma NA, Bio-Mer NZ, Blackmores, EFS Holland, Lintbells Inc., MacLab, Moxxor LLC, Nature’s Range, and Waitaki Bio.|
|Report Coverage||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis|
|Customization Scope||10 hrs of free customization and expert consultation|
COVID-19 Impact on Global Mussel Oil & Powder Market
During the COVID 19 pandemic, nutraceutical products became regarded as essential, resulting in a significant increase in demand. However, supply chain disruptions have occurred as a result of nationwide lockdowns. The increasing use of mussel oil in processed foods should drive product demand. As a result, despite a slight drop in early 2020, the industry quickly recovered due to its growing preference for food and pharma applications.
Mussel Oil & Powder Market Dynamics
The surging consumer awareness of nutrient-rich contents is one of the leading mussel oil & powder market trends. As a result, mussel oil & powder have acquired a noteworthy interest in dietary supplements, thereby generating considerable revenue. Because mussel oil is high in omega-3 fatty acids, dietary supplement applications dominate the mussel oil market. Health consciousness among the populace, as well as awareness regarding Recommended Dietary Allowance (RDA) intake, are also contributing to the rise in demand for dietary supplements, fueling the growth of the mussel oils & powder market. An experimental study found that taking an omega-3 supplement derived from mussel oil sourced from the green-lipped mussel before a workout significantly reduces post-exercise muscle damage.
The growing worldwide population has created a robust demand in the food & pharma industry. The rising population and rising income in developed economies have resulted in dietary changes such as increased protein and meat consumption, which is driving global food demand. According to the Harvard Business Review, food demand is expected to rise by 59 percent to 98 percent by 2050.
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Pain relief and reduction in inflammation are some of the benefits that are boosting the worldwide mussel oil & powder market revenue. According to clinical research, green-lipped mussel oil capsules can reduce joint pain by 60%. It can also help lower the risk of heart disease, comfort to muscular tissues, and provide pain relief and. These aspects are anticipated market growth over the coming years. However, high production costs and strict regulatory guidelines are some of the factors that are restricting market growth.
Worldwide Mussel Oil & Powder Market Segmentation
The global mussel oil & powder market has been segmented into form, application, grade, distribution channel, and region. The form segment is split into powder and oil. Among them, the powder segment attained a significant mussel oil & powder market value, while oil form registered a noteworthy growth.
Based on grade, the market is divided into food, cosmetics, and pharmaceutical. In 2021, the pharmaceutical segment achieved maximum market share, while food and cosmetic are expected to witness a quick CAGR from 2022 to 2030.
The application segment covers processed food, dietary supplements, beauty & cosmetics, pet food & veterinary. Out of these, dietary supplements were a dominating segment and are likely to continue their trend in the coming years.
Supermarkets/hypermarkets, pharmacies, e-commerce, and others are covered under the distribution channel segment. The e-commerce channel is observed to be the fastest-growing segment in the coming years, while the supermarkets/hypermarkets occupy a substantial market share.
Mussel Oil & Powder Market Regional Overview
The global mussel oil & powder market regional outlook is given as North America, Europe, Latin America, Asia-Pacific, and the Middle East and Africa. In 2021, Asia-Pacific gathered a significant amount of share all over the world. This growth is attributed to high product demand as a result of the rising target population in the region. China is expected to hold the highest market share in the Asia-Pacific In addition, the rapidly expanding cosmetics and personal care industry is estimated to boost product demand in the cosmetics market of Asia Pacific. Meanwhile, Europe is expected to be the fastest-growing region during the forecast period. Some mussel species found here are margaritifera, auricularia, unio crassus, anodontaanatina, unio pictorum, and others. North America is also considered a growing market due to the region’s increasing number of asthma and arthritis patients. According to the CDC, by 2040, an estimated 78 million (26 percent) of US adults aged 18 and up will have doctor-diagnosed arthritis.
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Mussel Oil & Powder Market Players
Some mussel oil & powder companies covered globally include Aroma NA, Bio-Mer NZ, Blackmores, EFS Holland, Lintbells Inc., MacLab, Moxxor LLC, Nature’s Range, and Waitaki Bio.
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