Alginate Market to gain revenue of about 1,077 (USD Million) by 2028

Report Summary

The size of the global alginate market was estimated at USD 761 million in 2021, and from 2022 to 2028, it is anticipated to expand at a CAGR of 5.1%. Due to the rising product demand in culinary applications as a thickening agent, emulsifier, and gelling agent, the market is anticipated to experience substantial expansion.

The main forces driving product demand include a rise in natural ingredient demand and increased acceptability by the food sector. The U.S. Food & Drug Administration (FDA) and the European Commission have both provided regulatory grants, which are anticipated to fuel the expansion of the global market. In terms of product penetration in the pharmaceutical application industry, the U.S. is one of the top markets globally.

The product can be used in a wide range of pharmaceutical applications because it functions as a thickening agent, emulsion stabiliser, film-forming agent, and tablet disintegrant. The market is anticipated to increase as a result of rising product demand in the coating of tablets with low viscosity. Due to unsustainable production practises, the market is constantly challenged by the erratic supply quantity of seaweeds, which could partially impede overall growth.

Sorting insights

The high G type dominated the global market in terms of revenue in 2020 with a share of over 52%, and it is anticipated that it will continue to hold the top spot throughout the forecast period. Guauronic acid blocks, which have numerous uses in the cosmetics, food, and pharmaceutical industries, are abundant in high G. The higher demand for these goods in culinary applications is due to their superior gelling capabilities.

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Product Information

Propylene glycol had the highest revenue share on the market in 2020, at more than 38%. Over the forecast period, it is anticipated to continue increasing at the quickest CAGR, maintaining its leadership. It is an ester of alginic acid that is used in the pharmaceutical, food, personal care, and cosmetics sectors as a stabiliser, thickener, and emulsifier. The FDA’s endorsement of these products as food additives contributes to the rise in demand.

With a market share of more than 32% in 2020, sodium became the second-largest product. It is a white-yellowish powder that is obtained from the cell walls of brown algae and is frequently used in the food industry as a thickening and gelling agent. It is primarily employed in the creation of dressings, jellies, whipped cream, and sauces. Additionally, compared to dairy products, it offers greater stability, increasing demand.

Application Perspectives

Industrial application dominated the market in terms of revenue in 2020 with a share of 38.99%, and it is anticipated that it will continue to have a dominant position throughout the forecast period. Alginates are employed as a thickening agent in textile printing, an industrial application where they mix cellulose in fibres. In place of starches, which react with reactive dyes and result in a decreased colour yield, they are used.

Regional Perspectives

Asia Pacific region led the market in terms of volume in 2020 with a share of 37.05%, and it is anticipated that it will continue to hold the top spot throughout the forecast period. The region has grown as a result of the presence of several manufacturers and the simple accessibility of raw materials. The regional alginate industry is also fueled by the existence of sizable consumer populations in nations like China and India.

The largest regional market in terms of revenue is Europe. Demand for the product is anticipated to be driven by rising pharmaceutical sector R&D spending, which will boost market expansion over the forecast period.

Competitive Insights

Key players influencing growth of alginate market and profiled in study are A2 Trading GmbH, KIMICA Corporation, Prinova Europe Limited, Shandong Jiejing Group Corporation, Qingdao Liyang Seaweed Industrial Co., Ltd., Cargill Inc., Prestige Brands, Inc., Qingdao Rongde Seaweed Co., Ltd., Compañía Española de Algas Marinas S.A., and DuPont.

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By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

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