The global market size of marine minerals is forecast to expand from USD 18,926.1 million in 2024 to USD 33140.4 million by 2034. Global sales of marine minerals will likely soar at a CAGR of 5.8% throughout the forecast period.
Marine minerals such as calcium, magnesium, iron, iodine, selenium, zinc, and phosphorus are witnessing steady demand globally. This is attributable to their health benefits and widening applications in a wide range of industries. These minerals are widely used in food and beverage, cosmetics, and animal nutrition sectors, leading to sales growth.
Growing concerns about the depletion of land-based resources are also directing companies and end users towards minerals derived from marine sources. There is a rising interest in finding valuable minerals from sources like the ocean floor and marine biomass.
Global Marine Mineral Industry Assessment
| Attributes | Description |
|---|---|
| Estimated Global Marine Mineral Market Size (2024E) | USD 18,926.1 million |
| Projected Global Marine Mineral Market Value (2034F) | USD 33140.4 million |
| Value-based CAGR (2024 to 2034) | 5.8% |
A prominent factor expected to drive demand for marine minerals during the forecast period is the growing food fortification trend. These minerals are widely used to fortify foods and beverages as they enhance their nutritional profile.
With consumers becoming more aware of their health and well-being, demand for fortified foods and beverages is expected to increase substantially through 2034. This, in turn, will likely fuel sales of minerals derived from oceans and seas.
Several companies are incorporating marine minerals into products marketed for specific health benefits like immune support and improved bone health. Minerals derived from oceans can also act as natural flavor enhancers and preservatives in foods, indicating the scope this market has for growth.
Many people prefer to consume marine minerals directly in the form of tablets and capsules to maintain their health and skin as well as reduce the risk of disease development. This factor will also keep revenue flowing in the market during the assessment period.
Another growth shaping factor is the growing consumer interest in clean label products with natural ingredients, including marine minerals. Rising emphasis on sustainable and ethical sourcing of these minerals will also positively impact the market.
Industry leaders are employing advanced extraction and processing technologies to make mineral harvesting from seawater and marine biomass more cost-effective and efficient. This will positively impact the overall market growth trajectory through 2034.
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The below table presents the anticipated CAGR for the global industry over several semi-annual periods spanning from 2024 to 2034. For the first half (H1) from 2023 to 2033, the sector is set to thrive at a CAGR of 5.6%. For the second half (H2), there will likely be a slight increase, with sales recording a CAGR of 5.8%.
| Particular | Value CAGR |
|---|---|
| H1 | 5.6% (2023 to 2033) |
| H2 | 5.8% (2023 to 2033) |
| H1 | 6% (2024 to 2034) |
| H2 | 5.9% (2024 to 2034) |
Moving forward to the subsequent period, from H1 2024 to H2 2034, the CAGR is foreseen to be 6% in the first half and 5.9% in the second half, indicating a negligible deviation between the two CAGRs.
Expanding Applications in Food and Beverage Sector Propelling Growth
Applications of marine minerals in the food and beverage sector are expanding substantially, owing to their health and nutritional benefits. These minerals are widely used in a variety of products, including frozen desserts, processed food, instant beverages, fruit juices, smoothies, and shakes. This versatility is set to provide impetus for sales growth through 2034.
Changing lifestyles and growing demand for convenience food products are likely to boost the growth rate of the industry. Subsequently, growing consumer preference for natural and organic products is rising, which is expected to fuel demand during the upcoming years.
Ongoing Mineral Fortification Trend Creating Growth Prospects
Many modern diets often lack certain essential minerals like calcium, magnesium, and potassium. As a result, food manufacturers are increasingly incorporating marine minerals in a variety of food products and beverages, creating growth avenues for players.
Extracting minerals from oceans and seas provides a consistent and sustainable source for fortifying food and beverage products. Thus, mineral fortification trend is predicted to continue its stride in the marine mineral industry through 2034.
Environmental Concerns and Availability of Alternative Hampering Growth
Despite a positive growth trajectory, certain factors are anticipated to limit growth of the marine mineral market. These include sustainability concerns and availability of land-based alternatives.
Extracting minerals from marine sources can disrupt marine ecosystems, creating concerns about biodiversity loss. This, in turn, is expected to negatively impact the target segment as modern consumers demand sustainable practices and products.
Several minerals used for food fortification applications can be sourced from land-based sources. Growing usage of these land-based minerals is becoming a hurdle for the target industry.
Global marine mineral sales recorded a CAGR of 5.8% between 2019 and 2023. This steady growth was triggered by increased consumer awareness about the health benefits of different minerals and high demand for dietary supplements.
Looking forward, the global industry is anticipated to progress at a similar CAGR of 5.8%, indicating a constant growth trajectory. Prominent growth factors influencing the marine mineral market include growing usage of marine minerals across diverse sectors and depleting land-based resources.
Escalating awareness about the nutritional benefits of minerals derived from marine sources, including calcium and iodine, is set to boost sales growth. Similarly, surging consumer demand for healthier food options and supplements containing these minerals will likely benefit the industry.
Ongoing food fortification trend is becoming a key growth driver. Leading food and beverage manufacturers are incorporating these minerals in their products to enhance their nutritional profile and woo health-conscious consumers.
Increasing demand for mineral oils from the animal nutrition sector is another key growth influencing factor. Minerals like zinc, calcium, and magnesium can support animal health by boosting immunity, strengthening bones, and enhancing overall well-being. As a result, their usage is growing in animal nutrition applications.
Expanding usage of these minerals in non-food industries like electronics, cosmetics, and others will likely create new growth prospects for players. In addition to this, increasing government support is expected to positively impact the target industry through 2034.
Tier 1 companies comprising industry leaders like Marigot Ltd. and Celtic Sea Minerals hold a market share of 40%. These leaders are focused on increasing their production capacities to meet growing end user demand. They offer different minerals with specific health benefits.
Tier 1 companies are employing advanced extraction technologies to get access to different essential minerals located in deep ocean depths. They have well-established distribution channels, giving them a competitive edge over others.
Celtic Sea Minerals leads the way in marine minerals extracted from the red seaweed algae Lithothamnium calcareum. The company’s products are exported to more than 40 countries globally for use in different animal diets and livestock farming systems. Celtic Sea Minerals’ success lies mostly in sustainable natural marine minerals, strong scientific research, high-quality production techniques, and a dedicated team of professionals.
Tier 2 companies include mid-size players that have a presence in specific regions and only influence the local business. These players hold 9.6% share of the sector. They are striving to educate consumers about the health and environmental benefits of minerals derived from marine sources.
One key company in tier 2 category is Alesco S.r.l. This Italian-based company specializes in producing and distributing functional ingredients and raw materials for nutraceuticals, pharmaceuticals, cosmetics, and food sectors.
Tier 3 companies, including start-ups, also hold a prominent share of around 50.4%. These players are concentrating on employing sustainable production practices, just like tier 1 companies, to appeal to eco-conscious customers and solidify their positions. They are using aggressive marketing and branding strategies to expand their reach and customer base.
The below section depicts marine mineral market forecast across various nations. Among these, India and Germany are set to witness significant CAGRs of 6% and 5.9%, respectively, through 2034.
| Countries | CAGR 2024 to 2034 |
|---|---|
| United States | 5.6% |
| China | 5.6% |
| United Kingdom | 5.8% |
| Germany | 5.9% |
| India | 6% |
The United States marine mineral market is projected to advance at a CAGR of 5.6% during the assessment period. This is attributable to growing functional food trend, favorable government support, and rising popularity of personalized nutrition.
Americans are increasingly showing interest in consuming functional foods that provide multiple health benefits beyond basic nutrition. This is playing a key role in fueling growth of the marine mineral market in the nation.
Leading food and beverage manufacturers in the United States are using marine minerals to develop functional foods and beverages enriched with specific minerals for targeted health. Thus, as the demand for functional foods and beverages continues to rise in the nation, so will sales of marine minerals.
China is poised to register a CAGR of 5.6% during the projection period, offering lucrative opportunities to players. A prominent factor behind this growth is the growing usage of marine minerals in cosmetics and personal care products.
Consumers in China are inclined towards using beauty products with natural and unique ingredients. This is expanding the scope of minerals derived from marine sources in the cosmetics and personal care sector.
Marine minerals are associated with reducing inflammation, promoting healthy skin, and even offering anti-aging properties. Courtesy of these benefits, the scope and usage of deep ocean minerals is increasing rapidly in China’s cosmetics and personal care industry.
The United Kingdom industry is projected to exhibit a CAGR of 5.8% during the assessment period. Key factors propelling sales in the nation include increasing geriatric population, surging interest in preventive healthcare.
There has been a spike in the geriatric population across the United Kingdom in the last few years. According to Census 2021, the number of people aged 65 and over grew from 9.2 million in 2011 to over 11 million in 2021 across England and Wales.
Aging population in the nation is constantly seeking products that support longevity and healthy aging. As a result, there is a significant demand for marine minerals marketed for their role in maintaining health and older adults, and the trend will likely continue through 2034.
The section below sheds some light on leading segments of the marine mineral market. Granules segment is set to account for a value share of 26.8% in 2024. Based on source, organic category will likely witness high growth, holding a share of 23.7% in 2024.
| Segment | Granules (Form) |
|---|---|
| Value Share (2024) | 28.6% |
Demand is expected to remain high for mineral granules owing to multiple advantages of this form, including versatility and ease of transportation. The target segment will likely account for a value share of 28.6% in 2024.
Mineral granules are versatile and can be used in several industries, including food and beverage, dietary supplements, and animal nutrition. End users can easily process these granules as per their requirements.
Granules are also easier to transport and store than liquid or powdered forms. As a result, they reduce logistical costs and challenges, further contributing to their growing popularity among end-use industries.
The competitive landscape of marine mineral market is becoming fiercer with more and more companies entering the business. Leading players are constantly focusing on expanding their portfolios by launching new minerals with potential health benefits and wider applications.
Industry leaders are concentrating on mining a wide range of minerals from seabed to cater to growing demand from different industries. They are also consolidating their positions by employing strategies like partnerships, acquisitions, distribution agreements, and mergers. Companies are attending trade shows and exhibitions to expand their customer base.
Industry Updates
The global industry value is forecast to total USD 18,926.1 million in 2024.
Demand is set to increase at a CAGR of 5.8% CAGR through 2034.
By 2034, global revenue is projected to total USD 33140.4 million.
Granules.
InovoBiologic Inc., Marigot Ltd., and Celtic Sea Minerals.
Based on form, the marine mineral market is segmented into solid, powder, granules, flakes, and liquid.
Leading end use segments include dietary supplements, food and beverage industry, frozen desserts, processed food, meat processing, fruit juices, smoothies and shakes, instant beverages, pharmaceuticals, cosmetics and personal care, industrial, animal nutrition, and others.
Marine mineral market analysis has been carried out in key countries of North America, Latin America, Europe, East Asia, South Asia, Oceania, and the Middle East and Africa.
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