Global Alginate Market – Overview:
The Alginate market is gaining popularity among various industries owing to its increasing application. Market Research Future, a firm which specializes in market reports related to the Food and Beverage sector among others, recently forecasted in its report on Global Alginate Market Research Report- Forecast to 2027 that the market will demonstrate a remarkable growth during the forecast period.
Alginate is present in the cell walls of brown algae, as the calcium, magnesium and sodium salts of alginic acid. Alginates are refined from brown seaweeds. A wide variety of brown seaweeds of the phylum Phaeophyceae are harvested globally and converted into raw material, commonly known as sodium alginate. Sodium alginate is widely used in various industries including food, textile printing and pharmaceutical. Dental impression material utilizes alginate as its means of gelling.
The use of the alginate in food & beverage industry is legalized by major regulatory agencies including FDA and European Commission which drives its demand. The growth of food & beverage industry in Asia Pacific owing to rise in population is anticipated to boost the demand of alginates in this region. Alginate is mainly used in the pharmaceutical industry for the production of controlled release drugs due to superior product performance. Therefore, the growth of pharmaceutical industry will have a positive impact on the growth of alginate market. Moreover, increasing application of alginate in bakery and confectionery will propel the growth of alginate market.
Global Alginate Market – Segments:
The global Alginate market has been divided into type, form, distribution channel, and region.
On The Basis Of Type: Laminaria, Macrocystis, Ascophyllum, Lessonia, Durvillaea, Ecklonia, and Others
On The Basis Of Function: Thickeners, Emulsifiers, Stabilizers, Acidity Regulators & Others
On the Basis of Application: Food and Beverages, Biofuels, Textile Industry, Paper and Pulp, Pharmaceuticals and Others
On The Basis Of Region: North America, Europe, Asia Pacific, and ROW.
Global Alginate Market – Regional Analysis:
Global Alginate Market is segmented into North America, Europe, APAC, and Rest of the World (RoW). APEJ is expected to be the fastest growing region over the forecasted period. The key players of alginate market are dominantly present in Europe which is driving the growth of the market in this region. The richness of raw materials in Chile and Norway supports the production growth.
The consumption of the product in Asia Pacific is expected to rise due to the rapid development of the textile and food & beverage industry. The penetration of the product in the pharmaceutical industry in this region is currently limited due to their low usage in the developing economies. However, this creates a potential for the market to expand, which is projected to boost the consumption of the product over the forecast period. In Central and South America, the growing demand for jellies, ice creams, and lactic acid drinks is expected to drive the market growth over the forecast period.
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Key Players
The key players profiled in Alginate market are CP Kelco (U.S.), Ingredients Solutions Inc. (U.S.), Cargill (U.S.), P.L. Thomas & Co. (U.S.), Ingredion Incorporated (U.S.), Foodchem International Corporation (China), Kimica (Japan)
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