According to the report “Alginates Market By Type (Sodium Alginate, Calcium Alginate, Potassium Alginate, PGA, Others) By Application (Food & Beverage, Industrial, Pharmaceuticals, Others), And By Region – Global Industry Analysis, Size, Share, Growth, Trends, And Forecasts (2016–2021)” published by Market Data Forecast, The Alginates Market was worth $338 million in 2016 and estimated to be growing at a CAGR of 3.82%, to reach $407.68 million by 2021.
The Alginates market is showcasing potential in the mentioned forecasting period. The market continues to gain momentum owing to the growing demand for improving food textures. Additionally, diverse uses of alginate such as in immobilizing biocatalysts, pharmaceutical products, textile printing, welding rod coatings, paper manufacturing and binders for fish feeds and releasing agents is likely to fuel the growth of alginate market over the forecast period. Moreover, increase in consumption of processed convenience food products is likely to propel the growth of global alginate market over the given forecast period.
The industrial textile sector has been dominating the demand for alginate over the last few years. In the industrial textile sector, alginates are generally used as thickeners for the paste containing dye. In food and beverage industry, alginate is mostly used in sauces and ice-creams, acting in the form of a stabilizing and thickening agent. Also, it is used as a separating agent in water-oil emulsions and as a softening agent for bakery applications. In terms of application, food and beverage industry is expected to witness substantial growth in the alginate market.
Key market drivers which are influencing the demand of alginate is coming from the food and beverage manufacturers for its stabilizing, thickening, gelling and emulsifying properties. The reason behind its rising demand in F&B industry is pertaining to its extraction from natural seaweeds, which is considered to be the safest food additive in the food industry and also certified by WHO and FAO. Additionally, there is also an increased demand from textile industry primarily for its use in printing, designing and dying on cotton and jute fabrics.
The Alginates Market is broadly categorized by Type (Sodium Alginate, Calcium Alginate, Potassium Alginate, PGA, Others) and by Application (Food & Beverage, Industrial, Pharmaceuticals, Others). Sodium alginate has varieties of application in food and textile printing industry and due to which it is expected that it fuels the market growth of alginate over the forecast period. Also, the Primary demand of alginate in global market accounts from food and beverage, paper and textile industry. In food and beverage industry, the demand of alginate is increasing due to its higher demand in preparing products such as ice cream, jellies, salads, alcoholic drinks, lactic drinks etc.
Geographically, the market is analyzed under various regions namely Europe, North America, Asia-Pacific, Latin America and Rest of the World. As per the alginate production, major producing regions are Europe and Asia Pacific and contributes the majority of market share in the global level market. In terms of value, it is expected that Europe and North America account for the major share in terms of value and also as a lucrative market in near future.
Some of the major companies dominating the Alginates Market, by their products and services include:
- Ashland Inc.
- Brenntag AG
- Cargill Inc.
- Dohler Group
- FMC Corporation
- Dastech International Inc.
- I. DuPont De Nemours and Company
- Kimica Corporation
- Dow Chemical Company
- Penford Corporation
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