Middle East & Africa Commercial Seaweed Market Size & Outlook
Middle East & Africa commercial seaweed market, 2018-2030 (US$M)
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MEA commercial seaweed market highlights
- The MEA commercial seaweed market generated a revenue of USD 52.2 million in 2022.
- The market is expected to grow at a CAGR of 4.7% from 2023 to 2030.
- In terms of segment, brown seaweeds was the largest revenue generating product in 2022.
- Red seaweeds is the most lucrative product segment registering the fastest growth during the forecast period.
- Country-wise, South Africa is expected to register the highest CAGR from 2023 to 2030.
MEA data book summary
| Market revenue in 2022 | USD 52.2 million |
| Market revenue in 2030 | USD 75.5 million |
| Growth rate | 4.7% (CAGR from 2022 to 2030) |
| Largest segment | Brown seaweeds |
| Fastest growing segment | Red seaweeds |
| Historical data covered | 2018 - 2021 |
| Base year for estimation | 2022 |
| Forecast period covered | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Brown seaweeds, Red seaweeds, Green seaweeds |
| Key market players worldwide | Cargill, DuPont de Nemours Inc, CP Kelco, Trevena Inc, Groupe Roullier, Biostadt, Compo, Acadian Seaplants, Gelymar, BRANDT, Seasol International, West Coast Marine-Bio Processing Corp, Bejing Leili, Indigrow |
Other key industry trends
- In terms of revenue, MEA region accounted for 0.5% of the global commercial seaweed market in 2022.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- MEA is the fastest growing regional market and is projected to reach USD 75.5 million by 2030.
Key Regions: U.S. , UK , Japan , South Africa , Canada
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Commercial Seaweed Market Scope
Commercial Seaweed Market Companies
| Name | Profile | # Employees | HQ | Website |
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Middle East & Africa commercial seaweed market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to commercial seaweed market will help companies and investors design strategic landscapes.
Brown seaweeds was the largest segment with a revenue share of 49.43% in 2022. Horizon Databook has segmented the Middle East & Africa commercial seaweed market based on brown seaweeds, red seaweeds, green seaweeds covering the revenue growth of each sub-segment from 2018 to 2030.
The Middle East & Africa commercial seaweed market is mainly driven by the growing demand for the product as a carrier of essential nutrients for dietary supplement, changing habits related to food consumption, increasing geriatric population, and rising prevalence of various health issues due to which people are opting for healthy and fortified food & beverage products.
However, strict regulations introduced by the Food & Agricultural Organization (FAO) on transport or movement of seaweed, guidelines concerning introduction of exotic seaweed species, quarantine measures established for imported seaweed, and import regulations related to the introduction of diseases may constrain the market growth over the next few years.
Furthermore, the globally acclaimed companies engaged in the manufacturing and marketing of commercial seaweed are mainly focusing on entering into the untapped markets of the Middle East & Africa as they find great potential for profits. In addition, companies are focusing on R&D and innovation in products and practices.
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Our clientele includes a mix of commercial seaweed market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Middle East & Africa commercial seaweed market , including forecasts for subscribers. This continent databook contains high-level insights into Middle East & Africa commercial seaweed market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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MEA commercial seaweed market size, by country, 2018-2030 (US$M)
Middle East & Africa Commercial Seaweed Market Outlook Share, 2022 & 2030 (US$M)
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