Marine ingredients are extracted from innumerable marine species which are inhabitants of water bodies such as sea, pond, lake, river and ocean and the marine species includes krill, algae, fishes and squid. The marine ingredients which are highly rich in nutrition are obtained by variety of fishes such as salmon, hoki, tuna, jack mackerel, herring, cod, trout, sandeel, and others. Marine ingredients are nutritious products that are intended for animal feed and human consumption. Marine ingredients consist of marine proteins, marine peptides, marine collagen, fish meal, fish oil and fish bone. The fish meal and fish oil are widely consumed by end users. Marine proteins and peptides are derived by enzyme hydrolysis.
Middle East and Africa marine ingredients market is projected to register a substantial CAGR in the forecast period of 2019 to 2026.
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Segmentation: Middle East and Africa Marine Ingredients Market
Middle East and Africa marine ingredients market is segmented into six notable segments which are product type, ingredients, form, raw material, source and application.
• On the basis of product type, the market is segmented into fish meal, fish oil, marine proteins, marine peptides, marine collagen, fish bone and others
• On the basis of ingredients, the market is segmented into protein, ash, fatty acids, vitamins, fat, enzymes and others
• On the basis of form, the market is segmented into liquid and powder
• On the basis of raw material, the market is segmented into whole fish and by-product
• On the basis of source, the market is segmented into krill, algae, fish, squid and others
• On the basis of application, the market is segmented into animal and aquaculture feed, pet food, dietary supplements, food & beverages, pharmaceutical, personal care and cosmetics and others
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Competitive Analysis: Middle East and Africa Marine Ingredients Market
Some of the major players operating in Middle East and Africa marine ingredients market 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, Vesteraalens AS among others.
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Recent Development
• In January 2019, Algaia made an agreement with Cornelius, specialized in distribution of chemicals. Cornelius will manage distribution of alginates products in the U. K. and Ireland food and drink industry. This collaboration is for the Algaia range of alginates, precisely for Satialgine and AlgoGel. This collaboration will help Algaia to extend its markets in Europe.
• In May 2018, Algaia received investment worth USD 4.72 million from its major shareholder Maabarot Products Ltd., the company is engaged into health and nutrition product manufacturing. With, this investment Algaia is going to install new specialty seaweed extract production line in France manufacturing plant. This benefits Algaia by increasing production along with the revenue.
• In October 2015, Cargill, Incorporated acquired EWO, an international aquaculture organization which provides feed. This acquisition helps to strengthen the Cargill’s animal nutrition business. This will increase the product portfolio and profit margin of the company by providing novel products as well as solutions.
Research Methodology: Middle East and Africa Marine Ingredients Market
Primary Respondents: Key Opinion Leaders (KOL’s): Food and Beverages Experts, Manufacturers, Researchers, Distributors and Industrialists. Industry Participants: CEO’s, V.P.’s, Marketing/Product Managers, Market Intelligence Managers and National Sales Managers.
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