Marinova funds US$5M fucoidan extraction plant to supply marine-based cosmetics
14 Jun 2024 --- Marinova completes a US$5 million expansion of its “state-of-the-art” fucoidan extraction facility in Australia which supplies fucoidan extracts to nutritional and personal care brands in over 35 countries.
The biotechnology company says global demand for the bioactive compound found naturally in brown seaweeds is rapidly increasing. High-purity fucoidan is known for its beneficial health properties and is used in innovative nutritional, cosmetic and animal health formulations. It is also used in beauty products to protect skin from damage, reduce redness and swelling and promote a glowy complexion.
Marinova’s CEO Paul Garrott says: “The expansion of Marinova’s fucoidan extraction facility, including the commissioning of new advanced manufacturing technologies, represents a tripling of the company’s production capacity. This significant capital investment will enable Marinova to meet rising global demand for its high-purity fucoidan extracts.”
“Marinova’s branded Maritech range is the world’s only high purity, certified organic fucoidan with global regulatory acceptance. Natural, clinically proven and sustainably sourced, they are ingredients synonymous with quality.
Seaweed extract for skin
The Australian-based company develops high-purity seaweed extracts for “better human health.” It specializes in the research, development and manufacture of fucoidan compounds for use in nutritional, skin care and pharmaceutical applications.
Marinova has expanded its fucoidan extract manufacturing capacity.Innova Market Insights data indicates a 5% average annual growth (October 2018 – September 2023) in the number of personal care and beauty launches that mention marine and sea on the packaging. Half of these products were launched in Europe. Skin Care was the leading category, but Body Care launches grew the fastest at 13%.
The company’s high-purity fucoidans are “particularly popular” inclusions in formulations targeting immune support, gut and digestive health and healthy aging. It explains the expansion is reflective of a wider push by Australia to supercharge the country’s marine biotechnology industry.
A national consortium, the Marine Bioproducts Cooperative Research Centre, is currently fueling more than US$270 million in R&D, a proportion of which is accelerating Marinova’s global fucoidan research program.
Marinova reports that current estimates suggest Australia’s high-quality marine bioproducts are on track to reach US$1 billion turnover by 2030. The company’s facility expansion was supported by the Australian Government’s Modern Manufacturing Initiative, the Tasmanian Government’s Building Projects Support Program and Advanced Manufacturing Accelerating Growth Program.
Earlier this year, Personal Care Insights investigated the latest innovations in marine-based cosmetic ingredients with Active Concepts, Marinova and Univar Solutions.
By Sabine Waldeck
