The global mussel oil market size is expected to reach USD 60.4 million by 2028 according to a new study by Polaris Market Research. The report “Mussel Oil Market Share, Size, Trends, Industry Analysis Report, By Application (Processed Food, Beauty & Cosmetics, Biopharmaceutical, Dietary Supplements, Pet Food & Veterinary); By Distribution Channel (Hypermarket/ Supermarket, Pharmacy, Online, Others); By Region; Segment Forecast, 2021 - 2028” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The increase in chronic diseases such as autoimmune disorders, respiratory disease, diabetes, cardiovascular diseases, and the increased consumption of nutritional food supplements is expected to drive the industry's growth. Additionally, the emerging application of the product in the cosmetic industry and as pet food is also expected to propel the industry growth.
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Mussel oil contains high concentrations of omega 3 that are known to improve the condition of people suffering from arthritis and asthma, decrease the risk of cognitive disorders (cerebral palsy, ADHD, and others), CVD, diabetes, and cancer. More than 500 million people suffer from osteoarthritis that is near, 7% of the world population. The product reduces lung inflammation, and hence it is efficient in treating asthma.
Nearly 300 million adults have asthma across the globe, and in India alone, there are 37.9 million cases of asthma. Mussels have low-fat content and antioxidant properties, which reduce the risk of CVD and cancer. CVD is the leading cause of death through the world, and cancer cases are also increasing globally, with the U.S. alone reporting 1.8 million new cases in 2020. These factors favor the industry's growth.
Dietary supplements are one of the key application areas for the industry, as mussel oils are rich in fibers, vitamins, and minerals. It contains Vitamin B12, magnesium, selenium, iron, and many other components. In addition, the antioxidant properties and medical benefits associated with the product will further fuel the segment growth over the timeframe.
The industry is witnessing new developments which will further propel the industry in the coming years. For instance, in 2020, biotech company PharmaZen received USD 14 Mn funding to build two new factories at Rolleston south of Christchurch in New Zealand. PharmaZen has expertise in producing nutraceuticals from Greenshell mussel oil, and this funding will help the company make more mussel oil-based nutraceuticals.
Industry Participants include Bio-Mer Limited, Aroma NZ, Blackmores, ECI NATURAL HEALTH LTD, ByLovely Health Ltd., Great HealthWorks, Inc., MOXXOR LLC, Henry Blooms Health Products, Nature’s Range, Waitaki Bio, Shaanxi Hongda Phytochemical Co., Ltd., and Xtend-Life are some of the key players operating in the global product oil industry.
Polaris Market Research has segmented the mussel oil market report on the basis of application, distribution channel, and region:
Mussel Oil, Application Outlook (Revenue - USD Million, 2016 - 2028)
Mussel Oil, Distribution Channel Outlook (Revenue - USD Million, 2016 - 2028)
Mussel Oil, Regional Outlook (Revenue - USD Million, 2016 - 2028)