The Latin America, Middle East and Africa Mussel Oils Market would witness market growth of 7.2% CAGR during the forecast period (2023-2030).
The Brazil market dominated the LAMEA Mussel Oils Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $1,582.4 Thousands by 2030. The Argentina market is exhibiting a CAGR of 7.8% during (2023 - 2030). Additionally, The UAE market would experience a CAGR of 6.8% during (2023 - 2030).
Mussel oils are utilized in aquaculture as a feed supplement for farmed fish. For example, according to Invest India, the fisheries sector expanded 8% per year from FY 2013-14 to FY 2021-22, with record fish production of 16.25 MMT in FY 2021-22. The omega-3 fatty acids in mussel oils contribute to fish’s growth and overall health, enhancing the nutritional profile of seafood products. This application aligns with the growing emphasis on sustainable and eco-friendly practices in aquaculture, offering an alternative to traditional fish oil supplements. In addition to aquaculture, mussel oils have found a place in animal nutrition, particularly in pet care products. Pet supplements containing mussel oils are formulated to support joint health in animals, addressing issues such as arthritis and promoting overall mobility. The adoption of mussel oils in the pet care industry reflects the broader trend of extending the health and wellness benefits to companion animals.
The market is witnessing a trend towards product diversification and innovation. Manufacturers are exploring new formulations and delivery methods to enhance the efficacy and appeal of mussel oil supplements. This includes the development of novel capsule technologies, combinations with other botanical extracts, and integrating mussel oils into personalized nutrition solutions. Incorporating mussel oils into functional foods and beverages is gaining traction as a notable trend. Consumers increasingly seek convenient and enjoyable ways to incorporate health-promoting ingredients into their diets. Food and beverage manufacturers are responding by introducing products enriched with mussel oils, such as health drinks, snacks, and other functional food items.
As the demand for pet care products that address joint issues, especially in aging animals, grows in Saudi Arabia, it has become sought-after supplements for pet owners looking to enhance the well-being of their furry companions. Pet owners in Saudi Arabia may turn to mussel oil supplements to address inflammatory conditions and promote the overall health of their animals. The increasing number of pet owners in Saudi Arabia and a growing willingness to spend on pet care products contribute to the rising demand for specialized supplements. Pet owners in Saudi Arabia are becoming more proactive in taking preventive measures to ensure the health and longevity of their pets. Pet owners in Saudi Arabia, who often prefer online shopping, can conveniently purchase mussel oil supplements for their pets, contributing to market expansion. Thus, due to these aspects, the market will expand across the LAMEA region in upcoming years.
Free Valuable Insights: The Worldwide Mussel Oils Market is Projected to reach USD 82.8 Million by 2030, at a CAGR of 5.3%
Based on Grade, the market is segmented into Food Grade, Pharmaceutical Grade, and Cosmetic Grade. Based on Application, the market is segmented into Dietary Supplements, Processed Food, Biopharmaceutical, Pet Food & Veterinary, and Others. Based on Distribution Channel, the market is segmented into Hypermarket/Supermarket, Pharmacy, Online, and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
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