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We expect the global alginate market to exhibit a CAGR of 4.6% during 2022-2027.
The rising adoption of alginate as a natural additive for the producing various convenience and Ready-to-Eat (RTE) food products, owing to its optimal thickening, gelling, and film-forming properties, is primarily driving the global alginate market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations, resulting in the temporary halt in numerous production activities for alginate.
Based on the type, the global alginate market can be categorized into high M and high G, where high G currently accounts for the majority of the global market share.
Based on the product, the global alginate market has been segregated into sodium alginate, calcium alginate, potassium alginate, propylene glycol alginate, and others. Among these, propylene glycol alginate holds the largest market share.
Based on the application, the global alginate market can be bifurcated into food and beverages, pharmaceuticals, cosmetics, and others. Currently, the food and beverages sector exhibits a clear dominance in the market.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where Europe currently dominates the global market.
Some of the major players in the global alginate market include 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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