Global Alginate Market
The GMI Research forecasts that the Alginate Market is witnessing an upsurge in demand over the forecast period. This is mainly due to their growing demand in the food applications as a thickening agent, emulsifier, and gelling agent.
Introduction of the Alginate Market
Alginate is a biomaterial found across numerous applications in biomedical science and engineering due to its favorable properties, which include biocompatibility and ease of gelation. They found huge prominence in wound healing, drug delivery, and tissue engineering applications to date. These gels retain structural similarity to the extracellular matrices in tissues and can be manipulated to play several critical roles.
Key Players of the Global Alginate Market:
- DuPont de Nemours, Inc.
- IRO Alginate Industry Co., Ltd.
- Shandong Jiejing Group Corporation
- SNAP Natural Alginate Product Pvt. Ltd.
- Marine Biopolymers Limited (MBL)
- Ingredients Solutions, Inc.
Alginate Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
The prominent drivers responsible for the growth of the global Alginate Market include the favorable initiatives taken by leading players and the increasing inclination of individuals towards sweetened fast-food products composed of alginate. For example, French biomarine group Algaia, in 2018, officially declared the amplification of their production capacity with investments in marine ingredients and seaweed extracts, as it offers the flexibility of seaweed which assisted the company in terms of income. In accordance with the Life Science Informatics Publication, approximately 30,000 metric tons of alginate are applied as emulsifiers across different applications. Moreover, the augmenting demand for economical thickeners and stabilizers accompanied by the robust demand from the medical and pharmaceutical sectors will also pave the way for market growth. Their usage in personal care products is another reason responsible for the market growth. However, as per the Alginate market research, high- cost cultivation of brown seaweeds is curbing the market growth.
Product Segment Drivers
Based on the product, propylene glycol is expected to witness higher growth in the market over the forecast period. It is basically an ester used across various applications like thickeners, stabilizers, emulsifiers in cosmetics, pharmaceuticals, food, and personal care. Also, it is used in hydrolyzing acids and intestinal juices and is accepted by FDA, which has further pushed the market. For instance, Evomela is FDA approved propylene glycol, which helps to treat many myelomas.
Application Segment Drivers
Based on the application, pharmaceuticals will expand at a robust rate in the coming years. This is primarily attributed to their excessive demand led by their remarkable healing capabilities in dry and s wet conditions. The product also stimulates the controlled release of medicines in drugs and acts as disintegrants, which further adds to the industry's growth.
Based on the regional coverage, Asia-Pacific is forecasted to witness a robust demand due to the strong prevalence of leading market players like DuPont de Nemours, Inc., Shandong Jiejing Group Corporation. In addition, China and India are the main countries with vigorous chemical sector that will proliferate the Alginate market share.
Alginate Market Segmentation:
Segmentation by Product
- Sodium Alginate
- Calcium Alginate
- Potassium Alginate
- Propylene Glycol Alginate
Segmentation by Application
- Food Beverages
- Meat Products
- Dairy Products
- Sauces Dressings
Segmentation by Region:
- North America
- United States of America
- Asia Pacific
- Rest of APAC
- United Kingdom
- Rest of Europe
- South Africa
- Saudi Arabia
- Rest of the world (remaining countries of the LAMEA region)
About GMI Research
GMI Research is a market research and consulting company that offers business insights and market research reports for every enterprise, including small medium enterprises and large organizations. Our research team helps the clients to understand the impact of market dynamics such as market size, share, drivers, growth opportunities, and other aspects. We have a team of analysts and industry experts who conduct market intelligence studies to ensure relevant and fact-based research across a wide range of sectors such as FMCG, Technology, Energy, Healthcare, and other industries. We collect relevant information about the industry using both internal and external databases. Our main focus is to keep our clients abridged of the emerging opportunities and challenges in a wide range of industries. We provide step-by-step assistance to our client through strategic and consulting services to reach a managerial and actionable decision. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to helping businesses stay ahead of the curve.
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