Middle East and Africa Algae Products Market is Growing with the CAGR of 3.5% by 2027

 Middle East and Africa algae products market are expected to gain market growth in the forecast period of 2020 to 2027. Data Bridge Market Research analyses that the market is growing with the CAGR of 3.5% in the forecast period of 2020 to 2027 and expected to reach USD 202.73 million by 2027. Increasing awareness among consumers about health benefits of algae products is helping the market to grow in the region.

Algae products market is growing tremendously in the Middle East and Africa region due to increase in health concern among consumers along with the rising incidence of chronic diseases. The quality of product of algae depends on various factors such as algal biomass, specificity of strain and good extraction method. These are used as an ingredient in various industrial     sectors such as nutraceutical & dietary supplement, food & beverages, personal care and many others. Various ingredients are extracted from algae such as hydrocolloids, carotenoids among others. These are produced by several manufacturers and further are used by end products industries.

This algae products market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographical expansions, and technological innovations in the market. To understand the analysis and the market scenario contact us for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.

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The major players covered in the report are:

DSM, DIC CORPORATION, DuPont, Cyanotech Corporation., CORBION, BASF SE, Kemin Industries, Inc., and Cargill, Incorporated among others. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.     

Middle East and Africa Algae Products Market Scope and Market Size

Algae products market is segmented into five notable segments which are bifurcated on the basis of type, source, form, application and distribution channel. The growth among segments helps you analyse 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 type, the market is segmented into hydrocolloids, carotenoids, lipids, algal protein, algal antioxidants and other types. In 2020, hydrocolloids dominate the market as it has multiple functional properties which helpful for its usage in different industries.
• On the basis of source, the market is segmented into macroalgae and microalgae. In 2020, marcoalgae dominates the market as it is highly preferred source for the production of the algae products such as hydrocolloids among others.
• On the basis of form, the market is segmented into solid and liquid. In 2020, solid segment dominates the market as wide number of manufacturers provides their product in powder or granule or tablets due to which revenue collection is high from this segment. Another advantage of solid form is its transportation from one place to other.

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Algae Products Market Country Level Analysis

Algae products market is analysed and market size information is provided by type, source, form, application and distribution channel.

The countries covered in the algae products market report are South Africa, Saudi Arabia, U.A.E, Qatar, Oman, Kuwait, Rest of Middle East and Africa.

South Africa is dominating the market as the people are more inclined towards healthy lifestyle. Due to this demand for healthy products such as food and beverage, dietary supplement and other are increasing in the region.  

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The country section of the meat extract market 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 new sales, replacement sales, country demographics, regulatory acts 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 sales channels are considered while providing forecast analysis of the country data.