Alginate Market Forecasts to 2028 – Global Analysis By Type (High M, High G), Product (Calcium, Potassium, Propylene Glycol), Application (Cosmetics, Biofuels, Leisure Industry) and By Geography
According to Stratistics MRC, the Global Alginate Market is accounted for $626.35 million in 2020 and is expected to reach $1,076.18 million by 2028 growing at a CAGR of 7.0% during the forecast period. The growth of the food industry and the increasing pharmaceutical sector are the major factors propelling the market growth. However, the volatile production of seaweed is hampering the market growth.
Alginates are the type of hydrocolloids that are extracted from brown seaweed. It has different functional properties such as a thickening agent, the ability to form a gel, and its usage to form films of sodium and calcium. Alginate has varieties of applications in the food, textile, printing, dyeing, pharmaceutical, and cosmetic industry.
Based on the type, the high G segment holds the largest share in the market. High G is rich in guluronic acid blocks that have a broad 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.
By geography, Europe is going to have a huge demand during the forecast period due to the rising cultivation of seaweed. Also, consumers in the region are exhibiting a growing preference for ethnic baked products with organic ingredients about rising health awareness, offering growth opportunities for the regional alginate market.
Some of the key players profiled in the Alginate Market include Algaia SA, Dastech International Inc, Ashland, Brenntag, Cargill, Ceamsa, Dohler Group, Dow Chemical Company, DuPont, FMC Corporation, Ingredients Solutions, Inc., Kimica Corporation, Marine Biopolymers Limited, Penford Corporation, and Shandong Jiejing Group Corporation.
• High M
• High G
• Propylene Glycol
• Thickening Agent
• Acidity Regulator
• Foaming and Emulsifying Agent
• Moisture Retainer
• Gelling Agent
• Medical & Pharmaceutical
• Food and Beverages
• Pulp & Paper
• Leisure Industry
• Art and Crafts
• Technical Industry
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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