Asia Pacific Marine Biotechnology Market Forecast 2018-2026
KEY FINDINGS The Asia-Pacific marine biotechnology market is expected to witness a 5.76% CAGR over the forecast period of 2018-2026 and is anticipated to account for a revenue share of $1590 million.
MARKET INSIGHTS APAC holds huge growth potential in the global market. A positive trend towards organic cosmetics and a mounting demand for viable eco-friendly products are presenting the market with significant growth opportunities. Several emerging APAC countries are promoting huge investments in the marine-based healthcare and cosmetic markets. India, China and Japan market accounted for a substantial market share in 2017. The South Korean market, too, is expected to contribute a significant revenue share by exhibiting the highest CAGR over the forecast period. However, difficulty to deploy production plant across various region and safety in aquatic oceans are challenging this market’s growth.
COMPETITIVE INSIGHTS Major companies like Qingdao Codo International Ltd, Marinova, Abbott, Sea Run Holding, Cyanotech Corporation, FMC Geomarine Biotech, FMC Health And Nutrition, Aker Biomarine, Seppic Sa, Phyco Biotech Sas, Cp Kelco, Biolume Inc, Biotech Marine and Prolume Ltd have established themselves in this market.