Marinova
Cambridge (Paredarerme), Tasmania.
Australian Export Awards bring Aussie exporters to the world
The Australian Export Awards provide opportunity for the country’s most innovative exporters to be recognised on the national stage. It’s a fantastic opportunity to highlight your business to the world.
Paul Garrott, Chief Executive Officer and Managing Director.
Marinova takes Tassie seaweed to the world
More than 20 years ago, a small but dedicated team began harvesting an invasive seaweed introduced to Tasmanian waters.
It started as a desire to reduce the threat to marine biodiversity. It became an exciting new export opportunity for Australia.
Today, Marinova specialises in the research, development and export of fucoidan compounds – highly bioactive polysaccharides derived from seaweed.
Using 100% renewable energy, Marinova also diverts all seaweed residues away from unproductive landfill, converting it into organic additives for the horticulture sector.
Seriously sought-after seaweed
The 2025 winner of the Australian Export Awards International Health award category, Marinova extracts are sought after by the world’s most trusted nutraceutical brands.
Its products have made waves as premium ingredients in market-leading dietary supplements, food and beverages, animal health products and skincare formulations.
The company also collaborates with global research institutions and pharmaceutical companies. Its skilled team of scientists modify the seaweed compounds for use in medical devices, pharmaceutical research and clinical trials.
Scientific shifts drive strong global growth
Sales of Marinova’s fucoidans have increased by around 31% over the past financial year.
The company attributes this strong growth to a global shift towards scientifically validated compounds of natural origin.
Marinova has recently completed a $5 million expansion of its Hobart manufacturing facility. This has resulted in a tripling of production capacity to meet the rising global demand.
Leveraging Tasmanian quality on a global stage
The increasing availability of inferior competitor products is a key challenge for this Aussie exporter.
’We tackle this by leveraging the strategic advantages that define us as the world leader in our niche,’ says Paul Garrott, Chief Executive Officer and Managing Director at Marinova.
One such advantage is Marinova’s Tasmanian location. ’Tasmanian hallmarks of quality, innovation and sustainability resonate with our global customer base,’ says Garrott.
‘Our sustained commitment to scientific rigour, advanced manufacturing and sustainability further carve out our position as the global leader in our field.’
Winning the International Health category at the Australian Export Awards shines a spotlight on the exceptional achievements of our hard-working team. It provides further confidence to our global customer base, enhancing our status as an Australian Trusted Trader and demonstrating our secure international supply chain.
Greece a giant growth market
In the past year, Marinova has increased its sales to Greece by more than 860%. The company expects exports to Greece to increase by another 50% in the coming year.
An ongoing strategic partnership with a Greek pharmaceutical company underpins this remarkable success.
The growth has allowed Marinova to further upskill its scientific team, accelerating its global leadership in fucoidan science.
Why exporting is a marathon, not a sprint
This industry leader sees exporting as a long-term game.
‘Strategically focus on one target market to begin with and become familiar with the detailed export requirements,’ Garrott advises.
‘Take it one step at a time and get it right before you expand.’
A new niche in South Korea
Marinova has identified South Korea as an emerging export market of interest.
‘The supplement market there is large and rapidly expanding, expected to reach over $11 billion by 2030,’ says Garrott.
Like other global markets, consumer preference for natural and functional ingredients is driving growth in South Korea.
Marinova is reviewing Korean opportunities and regulatory requirements with a view to entering the market within 2 years.
Australian Export Awards bring Aussie exporters to the world
For Marinova, being the winner of the International Health award category at the Australian Export Awards shines a spotlight on the achievements of its hard-working team.
The company was recognised as an Australian Export Awards national finalist in the Emerging award category back in 2005. It was also a Sustainability and Green Economy national finalist in 2024.
‘The Australian Export Awards provide opportunity for the country’s most innovative exporters to be recognised on the national stage,’ says Garrott. ‘It’s a fantastic opportunity to highlight your business to the world.’
Visit Marinova website.
