Middle East and Africa Marine Ingredients Market, By Product Type (Fish Meal, Fish Oil, Marine Proteins, Marine Peptides, Marine Collagen, Fish Bone, Others), Ingredients (Protein, Ash, Fatty Acids, Vitamins, Fat, Enzymes, Others), Form (Liquid, Powder), Raw Material (Whole Fish, By-Product), Source (Krill, Algae, Fish, Squid, Others), Application (Animal and Aquaculture Feed, Pet Food, Dietary Supplements, Food and Beverages, Pharmaceutical, Personal Care and Cosmetics, Others), Country (Saudi Arabia, UAE, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Market Analysis and Insights: Middle East and Africa Marine Ingredients Market
The marine ingredients market is expected to witness market growth at a rate of 4.80% in the forecast period of 2021 to 2028, and is estimated to reach the value of USD 1.74 billion by 2028. Data Bridge Market Research report on marine ingredients market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market’s growth. The expansion of functional food sector is escalating the growth of marine ingredients market.
Marine ingredients are defined as the type of ingredients that are generally extracted from various types of marine species. These species are considered inhabitants of water bodies such as ocean, river-sea, lake and pond. The marine ingredients are obtained by a variety of fishes such as algae, squid, krill and fishes. These ingredients contain highly rich in nutrition obtained by a variety of fishes such as herring, salmon, hoki, cod, sandeel, tuna, trout, and jack mackerel, among others.
The rise in the health consciousness across the region acts as one of the major factors driving the growth of marine ingredients market. The rise in number of people suffering from chronic illnesses and high focus on extracting the high protein contents and enhancing the nutritional value of food, ash as a crucial marine ingredient accelerate the market growth. The surge in pharmaceutical and nutraceutical application of marine ingredients and growing aquaculture by manufacturers as a means to produce more by-products from farmed species further influence the market. Additionally, growth in awareness regarding the benefits of the product, surge in disposable income, surge in disposable income and rise in food and beverage spending positively affect the marine ingredients market. Furthermore, advancements in the ingredients and processing extend profitable opportunities to the market players in the forecast period of 2021 to 2028.
On the other hand, fluctuation in the availability of raw material is expected to obstruct the market growth. The stringent regulations is projected to challenge the marine ingredients market in the forecast period of 2021 to 2028.
This marine ingredients market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on marine ingredients market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Middle East and Africa Marine Ingredients Market Scope and Market Size
The marine ingredients market is segmented on the basis of product type, ingredients, form, raw material, source and application. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of product type, the marine ingredients market is segmented into fish meal, fish oil, marine proteins, marine peptides, marine collagen, fish bone and others.
- On the basis of ingredients, the marine ingredients market is segmented into protein, ash, fatty acids, vitamins, fat, enzymes and others.
- On the basis of form, the marine ingredients market is segmented into liquid and powder.
- On the basis of raw material, the marine ingredients market is segmented into whole fish and by-product.
- On the basis of source, the marine ingredients market is segmented into krill, algae, fish, squid and others.
- On the basis of application, the marine ingredients market is segmented into animal and aquaculture feed, pet food, dietary supplements, food and beverages, pharmaceutical, personal care and cosmetics and others.
Middle East and Africa Marine Ingredients Market Country Level Analysis
The marine ingredients market is analyzed and market size insights and trends are provided by country, product type, ingredients, form, raw material, source and application as referenced above.
The countries covered in the Europe marine ingredients market report are Germany, U.K., France, Italy, Spain, Netherlands, Russia, Switzerland, Turkey, Austria, Norway, Hungary, Lithuania, Ireland, Poland and Rest of Europe.
Germany dominates the Europe marine ingredients market due to the technological advancements within the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Middle East and Africa Marine Ingredients Market Share Analysis
The marine ingredients market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to marine ingredients market.
The major players covered in the marine ingredients market report are Cargill, Incorporated, Symrise, KD Pharma Group, Omega Protein Corporation, Abyss Ingredients, Algaia, American Seafoods Company LLC, Bio-marine Ingredients Ireland Ltd., COBIOSA, Gonmisol, Hofseth BioCare, Kodiak Fishmeal Company, Nutrifish, OLVEA, Pacific Seafood, Pelagia AS, TerraMar Ingredients, Sea Pride LLC, The Scoular Company, and Vesteraalens AS, among others. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.