Alginate Market

Alginate market witnessed USD 900 Million in 2020, growing at a robust CAGR of 5% during forecast period.

Introduction of the Alginate Market Report

Alginate is used as an ingredient in various pharmaceutical preparations, such as gaviscon, in which it combines with bicarbonate to inhibit reflux. Sodium alginate is used as an impression-making material in dentistry, prosthetics, lifecasting, and for creating positives for small-scale casting.

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Market Dynamic

Key Drivers and Emerging Trends

Rising demand form the sweetened confectionery products has directly influenced the sales of gelling agents globally. Adoption of fast-food has certainly driven the growth of the market owing to the shift in the consumer preference for sweetened fast-food products which is composed of alginate, leading to the robust growth in the market. Besides the traditionally used gelling and thickening agents, the sales of alginates have been continuously witnessing a swell on a healthier side, for instance, according to 30,000 metric tons of alginate is used as an emulsifier in widespread applications as stated by Life Science Informatics Publication. The demand for potential low-cost thickeners and stabilizers is also driving the market of alginates across various industries. Alginates are also used in personal care products and, hence creating potential demand.

Furthermore, strategic initiatives by the key players and research and development activities have lifted the overall growth of the market. For instance, in 2018, French biomarine group Algaia officially announced the expansion of their production capacity with investments in marine ingredients and seaweed extracts, alginate is responsible for the flexibility of seaweed which has helped the company in terms of revenue and also the overall market. In addition, rising demand from the medical and pharmaceutical industries has impacted positively on the market growth.

Restraint in the Alginate Market

However, expensive cultivation of brown sea weeds, is a factor which is likely to hamper the growth of the market over the estimated period.

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Product – Segment Analysis

Based on the product, propylene glycol is witnessed to grow at a higher CAGR in the market over the forecast period. Propylene glycol is basically an ester which is used in numerous applications like thickeners, stabilizers, emulsifiers in cosmetics, pharmaceuticals, food, personal care and others, which has acted as driving factor for the market. Propylene glycol alginate is used in hydrolysing acids and intestinal juices In addition, FDA approvals for propylene glycol has further pushed the market. For instance, Evomela is FDA approved propylene glycol which is sued for the treatment for multiple myeloma.

Application – Segment Analysis

Based on the application, pharmaceutical is witnessed to grow at a higher CAGR in the market over the forecast period. This is due to high demand due to its excellent healing capabilities in dry as well as wet conditions. The product also helps in the controlled release of medicines in drugs and can act as disintegrants, which also drive its demand in the pharmaceutical industry.

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Regional – Segment Analysis:

Based on the regional coverage, Asia-Pacific is witnessed to grow at a higher CAGR in the market over the forecast period. This is due to the strong presence of the key players in the geography, which has led to the expansion of the market in the specific region. For instance, players like DuPont de Nemours, Inc., Shandong Jiejing Group Corporation, have strong presence which have pushed the growth of the market in the geography. In addition, China and India are the leading countries which have very strong chemical sector, which is further anticipated to surge the demand.

Top Market Players

Various notable players operating in the market, include, Algaia, Marine Biopolymers Limited (MBL), DuPont de Nemours, Inc., Ingredients Solutions, Inc., KIMICA, IRO Alginate Industry Co., Ltd., Ceamsa, Algea, SNAP Natural & Alginate Product Pvt. Ltd., Shandong Jiejing Group Corporation, among others. 

Key Developments:

• • In 2019, Algaia, announced the partnership with AIDP for expanding the alginate offering in North America

Segments covered in the Report:

The global alginate market has been segmented on the basis of product, application, and regions. Based on product, the market is segmented into sodium alginate, calcium alginate, potassium alginate, and propylene glycol alginate. Based on application, the market is segmented into food & beverages, bakery, confectionery, meat products, dairy products, sauces & dressings, beverage, and others. 

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Key questions answered in this research report:

• • At what pace is global alginate market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in alginate market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global alginate market?
  • Which product generated maximum revenues in 2019 and identify the most promising product during the forecast period?
  • What are the various application areas of global alginate market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

Global Alginate Market by Product

• • Sodium Alginate
  • Calcium Alginate
  • Potassium Alginate
  • Propylene Glycol Alginate

Global Alginate Market by Application

• • Food & Beverages
  • Bakery
  • Confectionery
  • Meat Products
  • Dairy Products
  • Sauces & Dressings
  • Beverage
  • Others

Global Alginate Market by Region

• • North America Alginate Market (Option 1: As a part of the free 25% customization)
    • North America Alginate Market by Product
    • North America Alginate Market by Application
    • US Alginate Market All-Up
    • Canada Alginate Market All-Up
  • Europe Alginate Market (Option 2: As a part of the free 25% customization)
    • Europe Alginate Market by Product
    • Europe Alginate Market by Application
    • UK Alginate Market All-Up
    • Germany Alginate Market All-Up
    • France Alginate Market All-Up
    • Spain Alginate Market All-Up
    • Rest of Europe Alginate Market All-Up
  • Asia-Pacific Alginate Market (Option 3: As a part of the free 25% customization)
    • Asia-Pacific Alginate Market by Product
    • Asia-Pacific Alginate Market by Application
    • China Alginate Market All-Up
    • India Alginate Market All-Up
    • Japan Alginate Market All-Up
    • Rest of APAC Alginate Market All-Up
  • RoW Alginate Market (Option 4: As a part of the free 25% customization)
    • RoW Alginate Market by Product
    • RoW Alginate Market by Application
    • Brazil Alginate Market All-Up
    • South Africa Alginate Market All-Up
    • Saudi Arabia Alginate Market All-Up
    • UAE Alginate Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Alginate Market All-Up

Major Players Operating in the Alginate (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Algaia
  • Marine Biopolymers Limited (MBL)
  • DuPont de Nemours, Inc.
  • Ingredients Solutions, Inc.
  • KIMICA
  • IRO Alginate Industry Co., Ltd.
  • Ceamsa
  • Algea
  • SNAP Natural & Alginate Product Pvt. Ltd.
  • Shandong Jiejing Group Corporation