Global Mussel Oil Market - 2021-2028

Global Mussel Oil Market - 2021-2028

Market Overview:

Mussel oil is derived from the green-lipped mussel, found off the coast of New Zealand. Green-lipped mussel oil is found only in the pristine seawaters of New Zealand's coastline and is used to treat asthma and other respiratory issues, rheumatoid arthritis, osteoarthritis, and inflammatory bowel disease like Crohn's disease. Additionally, according to a study from Indiana University, a novel combination of green-lipped mussel oil and krill oil may protect joints following exercise. Mussel oil is a source of 25 different fatty acids, with omega-3 fatty acids accounting for a large portion of the total. As a result, mussel oil has a wide range of health benefits and is commonly used in dietary supplements and cosmetics, owing to which the global mussel oil market is expected to grow with a CAGR of XX% during the forecast period.

Market Dynamics: Increasing application of mussel oil in dietary supplements is expected to drive the market growth

As mussel oil is a good source of omega-3 fatty acids, the mussel oils market is primarily driven by dietary supplement applications. Health consciousness among the populace and awareness about Recommended Dietary Allowance (RDA) intake is also contributing to the growth in the demand for dietary supplements, thereby fueling the development of the mussel oils market. It was observed, through an experimental study, that taking an omega-3 supplement from a mussel oil derived from the green-lipped mussel before exercise significantly produces positive effects of post-exercise muscle damage.

Besides, mussel oil witnesses a high demand in biopharmaceuticals due to the anti-inflammatory properties conveyed by the bioactive compounds present in the oil. More recently, mussel oil has been studied for the treatment of ADHD in children and adolescents with promising results. Also, mussel oil shows anti-cancer properties and is being further developed to treat cancer.

However, with consumers shifting towards a vegan lifestyle, mussel oil demand is expected to witness a slowdown as mussel oil is an animal-origin oil. Global warming, ocean pollution, and the oceans' exploitation by human activities have significantly disturbed oceanic biodiversity, thus leading to a decline in the ocean's mussel count. This is expected to hamper the global mussel oil market growth.

Market Segmentation: Dietary supplements segment is expected to be hold highest market share of XX% during the forecast period

The mussel oil market, based on application, is segmented into processed food, beauty & cosmetics, dietary supplements and biopharmaceuticals, among others. Dietary supplements segment dominated the global mussel oil market and is expected to grow with a CAGR of XX% during the forecast period. The product's medicinal benefits, such as increased mobility and bone, lung, and cardiovascular health, drive up demand for it as a dietary supplement. Antioxidant properties are also present in the oil. As a result, increasing health awareness is expected to boost demand for dietary supplements.

On the other hand, biopharmaceutical segment is expected to grow with a highest CAGR of XX% during the forecast period. The core vitals of the product help enhance several health issues, such as rheumatoid arthritis, osteoarthritis, and inflammatory bowels. According to clinical trials, green lipped mussel oil capsules can reduce joint pain by 59%. It can also help reduce the risk of heart diseases. These factors will drive the market in biopharmaceutical segment.

Geographical Penetration: Asia Pacific is expected to dominate the global mussel oil market

The Asia Pacific region accounted for the largest share of XX% in the global mussel oil market. This growth is attributed to high product demand as a result of rising target population in the region. China is expected to hold highest market revenue share of XX% in the Asia Pacific mussel oil market, owing to increasing pet population as and rising demand for mussel oil in the premium pet food. In addition, rapidly expanding cosmetics and personal care industry, especially in South Korea, is estimated to boost product demand in the cosmetics market of Asia Pacific.

Europe is expected to be the fastest-growing region with a CAGR of XX% during the forecast period. Moreover, the region has the largest production base after China. France, in particular, is the major importer of live and frozen mussels in this region. In addition, in April 2014, the European Commission of the Common Fisheries Policy Reform and Strategic Guidelines passed a policy with an aim to promote the aquaculture business in Europe. Thus, the rapidly expanding aquaculture sector in the countries such as Norway and U.K. will also have a positive impact on the region’s growth.

Competitive Landscape:

The market is highly fragmented, with well-established and long-term operating players dominating. Some of the key players include Sanford Health, Aroma NZ Ltd, Waitaki Bio, BioMer Ltd and Henry Blooms Health Products. These players are focusing on entering the newer markets to increase their product sales. They are also focusing on product innovation and portfolio expansion to gain a greater market share. For instance, in 2018, Korure Ltd. expanded its Chinese market by introducing anti-inflammatory phospholipid oil products in the country. In November 2018, Sanford Health launched a range of nutraceutical products. In December 2019, New Zealand seafood company Sanford invested USD 13 million to build marine extracts center in New Zealand to produce nutrition products. The center will produce a range of products, including Greenshell mussel powder and oil. In August 2018, Kiwi, Inc expanded its reach in China with anti-inflammatory phospholipid oil. This new product is extracted from the green-lipped mussel oil by using the supercritical co2 method. It has the ability to cure many joint problems and arthritis.

COVID-19 Impact: Covid-19 pandemic is expected to have a negative impact on the market

The novel coronavirus (COVID-19) has had a dramatic impact on the seafood industry across the globe. In the Pacific Northwest, aquaculture producers, large and small, have been challenged by this pandemic. There have been disruptions in the supply chain and trade because of the lockdowns imposed by the various countries. According to the FAO, mussel trade fell sharply in the first half of 2020, with only 120,000 tonnes imported, a 15% decrease from the same period the previous year. Despite continuing to be the world's largest importer of mussels, France reported a 33 percent drop in imports. This sharp decline was due to the closing of restaurants. Spain and New Zealand, the other major exporters, however, reported lower shipments in 2020. The latter was especially hit by logistical problems caused by the COVID-19 and had difficulties getting its green mussels to the global market.

Why Purchase the Report?
• Understand the current market scenario and viability of global mussel oil market over the forecast period.
• Visualize the composition of the global mussel oil market in terms of application and distribution channel to identify major players, growth potential, and market strategies
• Identify the key regulations prevailing in the market and understand their impact on the market over the forecast period
• Understand the key business factors such as market competition, product pricing, new product developments, and patent filings pertaining in the market

What we offer?
• PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
• Excel data sheet with valuable data points of the global mussel oil market – Regional and Country level segmentation
• Product mapping in excel for the key products of all major market players
• Market Share Analysis covering business revenues ($) and revenue share (%) of key market players

Target Audience:
• Processed Food Manufacturers
• Dietary Supplements Manufacturers
• Pharmaceutical Companies
• Industry Investors/Investment Bankers
• Education & Research Institutes
• Research Professionals