The global Alginate market size is expected to be worth around US$ 1.10 billion by 2030, according to a new report by Vision Research Reports.
The global Alginate market size was valued at US$ 728.8 million in 2020 and is anticipated to grow at a CAGR of 5.02% during forecast period 2021 to 2030.
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Rise in product usage as active dyestuff in the textile industry is expected to drive the market over the forecast period. The product is gaining popularity in the food and beverage applications due to rising consumer preference for naturally sourced products. It is predominantly used in the food industry as an emulsifier, gelling agent, and thickening agent. Moreover, increasing application scope in the bakery and confectionery sector is projected to drive the market in the coming years.
Increasing consumption of emulsifiers in salad dressing, chocolate, margarine, peanut butter, and several frozen desserts is also one of the key factors for the growing product demand in the food and beverage application. The product has a wide range of applications in the pharmaceutical sector as well owing to its stabilizing, emulsifying, and thickening properties. Increasing demand in tablet coating owing to lower viscosity and as a capsule disintegrant is expected to fuel the market growth. The Covid-19 pandemic has severely affected the major economies like U.S., Germany, France, Italy, and Brazil. Disruptions in the global supply chain owing to restrictions on the movement of goods have affected product consumption to a certain extent as the production is concentrated in few countries including China, Chile, and Norway.
In terms of revenue, the high G type dominated the global market with a share of over 52% in 2020 and is expected to retain the leading position over the forecast period. High G is rich in guluronic acid blocks that have a wide range of applications in the cosmetics, food, and pharmaceutical industries. Superior gelling performance is responsible for the higher demand for these products in food applications.
Based on types, the market has been bifurcated into high G and high M. The amount of G and M blocks in the composition of the product is responsible for the performance characteristics of the products. The ratio of M and G in the product determines the gelling and thickening abilities of alginates.
A higher concentration of the G blocks in high G products leads to increased stabilization and thickness. They exhibit buckled chain structure and slower gel formation compared to the high M. Higher product flexibility offered by the high G type is drives its demand in the pharmaceutical industry.
The high M type segment is also expected to witness a steady growth rate of 4.7% over the forecast period. These products form gels quicker as compared to high G products leading to higher application in the cosmetic and food industries. Increasing usage of high M type products, such as beers, ice-creams, and yogurts, is expected to drive the segment growth.
In terms of revenue, propylene glycol led the market with a revenue share of more than 38% in 2020. It is expected to maintain its dominance growing at the fastest CAGR over the forecast period. It is an ester of alginic acid with applications as stabilizers, thickeners, and emulsifiers in the pharmaceutical, food, personal care, and cosmetics industries. These products having approval from the FDA as a food additive adds up to the demand growth.
Sodium emerged as the second-largest product in the market with a revenue share of over 32% in 2020. It is a white-yellowish powder extracted from cell walls of brown algae and widely used as a gelling and thickening agent in the food industry. It is primarily used in the production of sauces, whipped cream, jellies, and other dressings. It also offers superior stability to dairy products leading to increased demand.
Calcium alginates are widely used in pharmaceutical applications like wound care and wound dressing products. The calcium-based fibers enable accelerated healing. Furthermore, in North America and Europe, calcium alginate is approved to be used as an anti-foaming agent in the food industry. It is used as a thickener to increase the viscosity of food products, which is expected to drive the segment growth over the forecast period.
Potassium alginate is a potassium salt of alginic acid and has extensive application in the pharmaceutical industry owing to superior thickening and stabilizing properties. It helps in the reduction of blood sugar and cholesterol levels in humans, which is expected to increase its application in the pharmaceutical industry, thereby supporting the segment growth.
In terms of revenue, industrial application dominated the industry with a share of 38.99% in 2020 and is expected to maintain a dominating position over the forecast period. Alginates have an industrial application in textile printing where they are used as a thickening agent as they combine cellulose in fibers. They are used as a substitute for starches as the latter react with reactive dyes, which leads to lower color yield.
They are also used in paper manufacturing for surface resizing. The product is used with starches providing smooth, continuous film and reduced paper fluffing. Alginate as an ingredient in wax papers helps to keep wax on the paper surface. It also acts as a film former and improves the printability of the paper.
The pharmaceutical segment is projected to register the fastest CAGR from 2021 to 2028 owing to high product 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. The food and beverages segment is expected to witness a significant CAGR over the forecast period. Increasing demand for food products containing natural ingredients is expected to drive the segment growth.
In terms of volume, Asia Pacific region dominated the market with a share of 37.05% in 2020 and is expected to maintain the leading position over the forecast period. The presence of numerous manufacturers and the easy availability of raw materials are responsible for the region’s growth. The presence of a large consumer base in countries like China and India also drives the regional alginate market.
In terms of revenue, Europe is the leading regional market. Increasing expenditure on research and development in the pharmaceutical industry is expected to drive the product demand, thereby augmenting market growth over the forecast period.
Moreover, increasing consumption by other end-use industries in the leading economies like Germany, France, and the U.K. is supporting the regional market growth. The growing food processing industry in the region has fueled product consumption, which is supported by the approval for its usage in food items from the European Commission under EC 1333/2008.
- Marine Biopolymers Limited
- DuPont de Nemours, Inc.
- Ingredients Solutions, Inc.
- Shandong Jiejing Group Corporation
- Type Outlook
- High M
- High G
- Product Outlook
- Propylene Glycol
- Application Outlook
- Food and Beverages
- Meat Products
- Dairy Products
- Sauces & Dressings
- Food and Beverages
- Regional Outlook
- North America
- Asia Pacific
- South Korea
- Central & South America
- Middle East & Africa
- South Africa
- Saudi Arabia
- North America
The study objectives of this report are:
- To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2030);
- Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
- To define, describe and forecast the market by type, application and region.
- To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
- To identify significant trends and factors driving or inhibiting the market growth.
- To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
- To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
- To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
- To strategically profile the key players and comprehensively analyze their growth strategies.
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