Alginate Market Share, Size, Growth and Forecast

 

Global Alginate Market

GMI Research forecasts that the Alginate Market will witness a healthy CAGR of 5% over the forecast period, owing to the growing demand for alginates in various food applications as a thickening agent, emulsifier, and gelling agent. Alginates help in retaining same structural property as the extracellular matrices in tissues and can be manipulated to play several critical roles.

Alginate Market Dynamics

The major factors responsible for the global Alginate Market growth include the strategic initiatives by leading players and the growing demand for sweetened fast-food products. For example, in 2018, French biomarine group Algaia, officially decided to expand the production capacity via investments in marine ingredients and seaweed extracts, owing to the flexibility of seaweed which helps company in terms of income. Moreover, the growing demand for cost-effective thickeners and stabilizers along with the strong demand from the medical and pharmaceutical sectors will propel the Alginate Market size.

By product, propylene glycol is forecast to witness a faster CAGR over the coming years, owing to the growing adoption of propylene glycol from the FDA as a food additive. In addition, the adoption of product across various end-use applications including stabilizers, thickeners, and emulsifiers in cosmetics, pharmaceuticals, food, and personal care industries will further expand the market growth.

By application, pharmaceuticals will witness a promising growth over the forecast period, owing to the growing demand for alginate aided by the significant healing abilities in dry and wet conditions.

By region, Asia-Pacific is predicted to expand at a higher CAGR over the coming years, primarily because of the presence of leading producers and easy availability of raw materials. In addition, as per the Alginate Market forecast, the large consumer base in India and China also propels the market share.

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

Key Developments:

In 2019, Algaia, entered into a partnership with AIDP to expand the alginate offering in North America

Alginate Market Segmentation:

Segmentation by Product
  • Sodium Alginate
  • Calcium Alginate
  • Potassium Alginate
  • Propylene Glycol Alginate
Segmentation by Application
  • Food & Beverages
  • Bakery
  • Confectionery
  • Meat Products
  • Dairy Products
  • Sauces & Dressings
  • Beverage
  • Others
Segmentation by Region:
  • North America
    • United States of America
    • Canada

 

  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of APAC
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Rest of Europe
  • RoW
    • Brazil
    • South Africa
    • Saudi Arabia
    • UAE
    • Rest of the world (remaining countries of the LAMEA region)

About GMI Research

GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

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