Market for Marine-Sourced Proteins Anticipated to Expand at a Rate of 8.5% by 2034
In 2024, the global market for marine-derived proteins witnessed significant growth, reaching a valuation of USD 7.6 billion. This expansion is expected to continue, with projections pointing towards a potential value of USD 17.2 billion by 2034, growing at a steady Compound Annual Growth Rate (CAGR) of 8.5% from 2025 to 2034.
The market's growth can be attributed to several factors. In 2024, direct sales held a dominant position, capturing more than 38.9% share. This trend was further reinforced by major buyers favouring direct procurement of marine protein concentrates and hydrolysates.
One of the key players driving this growth is FMC Corporation, which focuses on nutritional ingredients like omega-3 oils from sustainably farmed marine microalgae. Corbion, another leader in the field, specialises in sustainable, non-GMO microalgae cultivation for food and feed ingredients.
The dominance of fish-based products in the market was evident in 2024, with these products capturing more than 57.2% share. North America led the market, accounting for 37.4% of the total share, followed by the North Atlantic region, where the largest revenues were generated, particularly due to the dominance of Atlantic cod liver oil.
In an effort to further boost the marine-derived protein industry, Cargill expanded its aquatic feed portfolio with sustainable marine-derived proteins. Meanwhile, Aker BioMarine advanced marine protein ingredients through its Superba Krill offerings.
In 2024, protein concentrates held a dominant market position, capturing more than 46.8% share. This is significant as it indicates a preference for concentrated marine protein sources.
Governments have also shown support for the industry. In 2019, under the Union Budget, the Pradhan Mantri Matsya Sampada Yojana (PMMSY) was introduced with an outlay of ₹3,737 crore. In Odisha, the Odisha Marine Biotechnology Research & Innovation Corridor (OMBRIC) was launched in August 2025. Furthermore, projects worth ₹21,274.16 crore had been approved, with ₹17,210.46 crore allocated for infrastructure improvements.
This shift towards marine-derived proteins promises broader access to natural benefits, fostering a balanced future where sea resources nourish global demands without straining land-based supplies. Marine-derived protein is indeed a rising star in sustainable nutrition, blending ocean abundance with health-driven innovation. Cellulac, for instance, developed a proprietary biorefinery process to extract high-value compounds from microalgae.
In conclusion, the marine-derived protein market is on an upward trajectory, driven by direct sales, government support, and innovative technologies. As the world seeks sustainable solutions for nutrition, marine-derived proteins are poised to play a significant role.
