Mussel Oil Market Analysis

Mussel Oil Market Analysis

The food grade mussel oil market is anticipated to surpass USD 30 million by 2027. The global food industry has witnessed healthy growth over the last ten years, and this is expected to continue over the coming years as well owing to population growth and rising investments. This is being seen, not just in the more mature retail markets in the US and Europe, but also in fast growing emerging markets in Asia Pacific and the Middle East & Africa. Therefore, this growth of the food industry worldwide is likely to fuel the market demand over the forecast timeframe.
 

Dietary supplements application segment of mussel oil market surpassed USD 20 million in 2020 and is anticipated to register over 5.5% CAGR in between 2021 and 2027. Rising consumer preference towards high quality supplement products due to hectic and stressful lifestyle may propel the market share. Dietary supplement comprising of mussel which provides the vitamins and minerals required to maintain overall wellness and health. Research indicates that Americans spend a significant amount of their income on dietary supplements products consisting of fish oils, vitamins & minerals. Rising awareness among consumers to reduce the risk of illness and maintain their health should favor industry landscape.
 

Online sales channel segment is anticipated to surpass USD 18 million by 2027 and is anticipated to grow at a CAGR of over 6.5% between 2021 and 2027. The rising adoption of digitalisation among consumers has brought about an increased focus on online sale channel. In recent years the Internet has gained much traction among both, the consumers as well as the manufacturers, it is not only used for marketing of products & services online, but to aid to sell the product worldwide. In addition, rising literacy rate should help support the growth of online sales channel. Along with changing lifestyle, busy schedule, and convenience of online purchasing of products should fuel the demand from online sales channel in the predicted timeframe.
 

The Asia Pacific mussel oil market is projected to register over 3.5% CAGR from 2021 to 2027 owing to the presence of a large cosmetic and personal care industry. Changing consumer behavior, increasing spending on cosmetic & personal care products, and rising demand for natural and organic products should support the regional market statistics. The presence of a substantial millennial population who have significant purchasing power and greater awareness of different cosmetic ingredients should further accelerate market demand.