Market Outlook for Marine Minerals Market:
Marine minerals are derived through deep-sea mining either from organic sources such as marine algae or through inorganic sources such as seabed deposits. They include trace elements such as calcium, manganese, iron, phosphorous, salts, limestone and others. Marine minerals have considerable attention in the food & beverage and supplements industry due to a sudden demand for natural ingredients and evolved health food trends. While they have an established presence in the healthcare and dietary supplements spaces, manufacturers are now focusing on capitalizing in the food & beverage industry. The success of the marine minerals market is much aided by the research and development verticals.
Evolving Utilization of Marine Minerals in Health Supplements and Functional Food
Marine minerals derived from the deep ocean are gaining particular attention in the industrial segments as the purity of the deep ocean water and the minerals obtained from the same is considered with high regard by the consumers. A combination of high consumer awareness of the benefits of the marine minerals and educational marketing by the key participants in the supply chain has created ample opportunities for the marine minerals market to grow in the food & personal care sectors. In the food & beverage industry, particularly significant is the demand for omega-3 fatty acids enriched beverages. Also, marine minerals are positioned at the converging point for trends such as soy-free, gluten-free, vegan and non-GMO food products. Moreover, marine minerals go through rigorous approval procedures of clinical and refining standards, through which they have naturally attained a status of pure and high-quality ingredients. At the manufacturer level, the technology used to obtain marine minerals is being treated with high importance. This is attributed to the fact that technological challenges appear at several stages in the supply chain of marine minerals. The predominant challenge is the extraction of marine minerals and the other being product development during the downstream processes of the final products. Hence, factors such as patented technology often leads to higher prices of marine minerals and the end use products may remain applicable only to high-end consumers. The dominant brand in the market, Aquamin, manufactured by Marigot Ltd., formulates marine minerals which boast of a number of beneficial characteristics for the food processing manufacturers. These include taste, odor, colour, and solubility.
Global Marine Minerals Market: Segmentation:
On the basis of form, the marine minerals market is segmented into-
On the basis of source, the marine minerals market is segmented into-
On the basis of end use, the Marine Minerals market is segmented into-
Global Marine Minerals Market: Key Market Participants
Examples of some of the market participants in the global marine minerals market identified across the value chain include include InovoBiologic Inc., Marigot Ltd., Celtic Sea Minerals, Maxicrop USA, Inc., Alesco S.r.l., Humates And Seaweeds Pvt Ltd, BioFlora, LLC, Sar Agrochemicals & Fertilizers Pvt. Ltd and HMHS Solutions Limited amongst others.
Global Marine Minerals Market: Key Takeaways
In 2017, the company Trace Minerals Research (TMR), a manufacturer of dietary supplements, launched the products VitaStraw and Probiotic Pak, which contain trace elements sourced from marine minerals. Both the products are claimed to be non-GMO, gluten-free and certified vegan.
The product claims also highlight the marketing strategies of the key participants operating in the marine minerals market which is, targeting the consumer groups who keenly follow the health conscious trends.
Opportunities for Marine Minerals Market Participants:
As naturally occurring health ingredients, marine minerals are outperforming in health research studies. In recent times, they have exhibited tremendous potential as food fortification ingredients. For instance, in 2018, Marigot Ltd., revealed their study that marine minerals outperformed the benefit functions of calcium carbonate in pre-menopausal bone in women. However, in the overall marine minerals market, these true values of marine minerals have remained restricted to the manufacturers’ knowledge and have failed to communicate the same to the consumers. To attain these attributes, comparison statistics and advertising may enable the key players to attract a much larger and a loyal consumer base, thereby fuelling the growth of the marine minerals market.
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Regional analysis includes:
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from marine minerals industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments of the marine minerals. The report also maps the qualitative impact of various market factors on market segments and geographies.
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