According to the latest report by IMARC Group, titled "Alginate Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global alginate market to grow at a CAGR of 4.6% during 2022-2027. Alginate is a water-soluble and biodegradable anionic polysaccharide that is generally present within the cell walls of brown algae. It mainly comprises guluronic acid, copolymers and mannuronic acid that provide them strength and flexibility, thereby making them a vital ingredient in producing industrial stabilizing agents and gels. It is widely available in granulated or powdered forms across the globe. In comparison to traditional thickening compounds, alginate has lower toxicity and higher biocompatibility. Due to its ability to hold water more than its own weight, it is commonly utilized as gelling substance across diverse applications, including pharmaceuticals and casting.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Alginate Market Trends:
The global market is primarily driven by the rising product demand from the food and beverage industry. This is supported by the increasing product utilization as a thickening agent in the preparation of soups, ice-cream and jellies. Along with this, the growing preference for convenience food items among the masses is also contributing to the market. Since alginate is a naturally produced substance and is safe for external use, it is widely used in the manufacturing of various pharmaceutical products and as a disintegrant for tablets, which is significantly propelling the market growth. In addition to this, the rising adoption of alginate in modern dentistry for fabricating teeth and jaw impressions is acting as a major growth-inducing factor. Moreover, the product is majorly utilized for designing, printing and dyeing jute and cotton fabrics, due to which it is gaining prominence across the textile sector. The market is further driven by the increasing utilization of alginate in the formulation of personal care and cosmetic products. Other factors, including extensive product utilization for preparing animal feed and the widespread adoption of biomedical compounds across the healthcare sector, are also favoring the market.
- On the basis of the type, the market has been segregated into high M and high G.
- Based on the product, the market has been classified into sodium alginate, calcium alginate, potassium alginate, propylene glycol alginate and others.
- On the basis of the application, the market has been categorized into food and beverages, pharmaceuticals, cosmetics and others.
- Based on the region, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others) and the Middle East and Africa.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of these players 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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