Marine Biotech Revenues Projected to Reach $3.78 Billion by 2012, According to New Report by Global Industry Analysts, Inc

Posted On: May 11, 2009

A growing interest from the medical, pharmaceutical, aquaculture, and industrial sectors, the global market for marine biotechnology drive this projected rise in revenue. The advent of advanced scientific disciplines such as molecular biology, genomics, bioinformatics and the application of information technology to biotechnology has tremendously enhanced human understanding of marine life. Widening applications in several end-use areas including marine transportation, environmental remediation, cosmetics, research, and food sectors also contributed to market growth. However, the industry is still in a nascent stage and accounts for a tiny percentage of the overall biotech market. Given the vast untapped potential, the marine biotech sector holds promising growth prospects for the future. The United States is the single largest market for marine biotechnology worldwide. The market is forecasted to be over US$1 billion in 2008 as stated by Global Industry Analysts, Inc. Non-US markets are projected to record faster growth with a compounded annual rate exceeding 5% through 2012. Thickeners including agar, alginates, carrageen, and flocculants account for a majority of the marine biomaterials market. The marine biotech sector is characterized by the presence of numerous players ranging from pharmaceutical companies to research-oriented niche companies.

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From Issue 3 • Categories: Tags: biomaterials, marine biotechnology, marine enzymes, marine ingredients, marine natural product, marine protein • No Comments

U.S. Seafood Processors Missing Out on Opportunity for Additional Value and Revenue With Byproducts

Posted On: February 11, 2008

Strategro International, a market entry and business growth consultancy, spoke to a packed room of seafood processors at the International Boston Seafood Show recently offering examples of how companies and researchers worldwide are developing valuable products from seafood processing waste streams.

For the unenlightened seafood company, seafood byproducts can pose a headache and a significant cost item for disposal, storage, or dumping (which in many areas is illegal). For those involved in further processing of seafood byproducts, desirable compounds can be extracted and purified into high value ingredients with application in the feed, food, health and nutrition, cosmeceuticals, and the research and diagnostic markets.

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From Issue 2 • Categories: Tags: Boston Seafood Show, chitin, chitosan, cosmeceuticals, cosmetics, functional ingredients, marine extract, marine ingredients, marine peptide, marine protein, nutraceutical, omega 3, seafood byproducts, Strategro International • No Comments

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