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The global alginate market grew at a CAGR of around 5% during 2015-2020. Alginate, or alginic acid, refers to a naturally occurring polysaccharide usually extracted from brown algae. It is commercially available in filamentous and granular forms of sodium, calcium and potassium alginate that can bind with water to form a viscous gum. As a result, alginate is widely used for casting of dental molds and thickening of food products, such as jellies, jams, ice-creams, marmalades, frozen desserts, chocolates and instant noodles. It also finds extensive applications in processing textiles, paper and pulp. In comparison to the traditionally used thickening compounds, alginate has higher biocompatibility, cost-effectiveness and lower toxicity.
Significant growth in the food and beverage industry across the globe represents one of the key factors creating a positive outlook for the market. Alginate is widely used as a natural additive for the production of various convenience and ready-to-eat (RTE) food products due to its high thickening, gelling and film-forming properties. Furthermore, widespread product adoption in the healthcare industry is also driving the market growth. Sodium and calcium alginate fibers are used for the manufacturing of wound dressings as it is highly biocompatible, has a porous structure and high fluid absorption capacity. In line with this, the textile industry uses alginate derivatives for dyeing, printing and designing on cotton, rayon and jute fabrics, towels and scarfs, which is also contributing to the market growth. Other factors, including the rising demand for biomedical compounds with personalized physicochemical properties, along with extensive product utilization as an animal feed additive, are anticipated to drive the market further. Looking forward, IMARC Group expects the global alginate market to exhibit moderate growth during the next five years.
IMARC Group provides an analysis of the key trends in each sub-segment of the global alginate market report, along with forecasts for growth at the global, regional and country level from 2021-2026. Our report has categorized the market based on region, type, product and application.
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The competitive landscape of the industry has also been examined along with the profiles of the key players being Algaia SA (Maabarot Products Ltd.), Compañia Española de Algas Marinas (CEAMSA), DuPont De Nemours Inc., Ingredients Solutions Inc., IRO Alginate Industry Co. Ltd., KIMICA Corporation, Marine Biopolymers Limited, Shandong Jiejing Group Corporation, SNAP Natural & Alginate Product Pvt. Ltd. and SNP Inc.
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