The Alginate Market is set to reveal a substantial upturn with a CAGR of almost 5.0% during the forecasted period of 2020 to 2030. The Alginate Market was valued at USD 728.4 million in 2020 and is estimated to garner a significant improvement and reach USD 1186.49 million by 2030.
What is Alginate?
Alginate is alluded, generally, for the salts used for alginic acids but it also denotes to all the by-products of alginic acid and acid itself. Alginate is normally used in the form of hydrogel in bio medicine, along with therapeutic care, drug delivery, tissue engineering. Hydrogels are 3D cross linked networks, collection of hydrophilic polymers with high water content.
Alginic acids also mentioned as algin, is a naturally occurring, palatable polysaccharide found in brown algae. By origin the alginic acid is hydrophilic and on humidification, it forms a vicious gum or latex. Combined with metals such as sodium and calcium, the salts formed are known as alginates. The alginates shade varies from white to yellowish-brown.
Alginate is made from two copolymers, guluronic and mannuronic acid. The copolymers offer strength and flexibility. Alginate comprises of features such as high velocity, high gelling properties and high stability that makes alginate a vital industrial polysaccharide. The acid alginate is used as agents in several therapeutic products such as in formation of gel, stabilising agents, localised drug delivery etc. Moreover, the alginate hydrogel used for tissue drug delivery is widely popular. Alginate is also popularly used as a biding agent in food stuff to keep the ingredients separate from each other. It is used in foods items such as ice creams, salad dressings, fruit juices, yogurt, etc. to maintain the flavour, smooth texture from creamy foods to gelled ones.
Not only in food industry, but, alginate has also various applications in textile, dyeing, pharma, printing and cosmetic sectors.
Due to its varied applications spread across wide sectors along with the unique properties of thickening and gelling, the market is expected to show a positive trend in the global market.
Market Overview
Rising demand in food and beverage sector for food binding, gelling and emulsifying as agents is fuelling the market growth. In addition to this, increased demand for natural ingredients in nourishment in the food and beverage industry is the key driver of the product. Furthermore, approvals from government grants from several organisations such as US FDA and European Commission is boosting the market growth. U.S. is one the leading markets in production of alginate.
Growing population has given rise to demand for food products such as ice cream, beer, and yogurt which is a believed to be a positive trend for the market. Besides, the use of alginate in printing sector is expected to spike the market. Similarly, application of alginate in medicine is boosting the pharmaceutical sector which is considered to be a positive movement for the market. The distinctive feature of wound healing and treatment of infection in alginate is driving the market.
Asia-Pacific region is anticipated to drive the market on due to high population growth in the region and government permits from major regulatory bodies is expected to fuel the market growth.
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There has been a rising demand for alginate in the food & beverage industry as it can be used as an efficient thickening, emulsifying, and gelling agent. Apart from that it is also utilized to stabilize and enhance the texture of various food recipes. Hence, it is predominantly used in the preparation of products like jellies, ice creams, lactic drinks, salads, alcoholic drinks, among others.Rising health cognizance among the masses is creating new growth avenues for the market
With the increasing prevalence of diseases associated with poor lifestyle and eating habits, there has been a rising inclination of people towards healthy and natural diet intake. This in turn in positively swaying the dynamics for alginate market as it is a natural component and offers comes with various benefits.
Market Key players
Companies are undertaking research and development activities to bring to sustain the competition. Significant consumer base across Asia-Pacific is due to large number of manufacturers and higher product consumption in the region, is anticipated to fuel the market growth. The global market is fragmented due to prevalence of large number of manufacturers across the globe. Some of the prominent players are as Algaia, Marine Biopolymers Limited, DuPont de Nemours, Inc., Ingredients Solutions, Inc., KIMICA, Ceamsa, Algea, Shandong Jiejing Group Corporation.
Segmentation
Alginate Market is segmented into Product, Application, Type.
Product segment Analysis
Based on Product
- Sodium
- Calcium
- Potassium
- Propylene Glycol
- Others
where the Propylene glycol segment is dominating the market with a 38% revenue share followed by Sodium which is holding the second largest position in the market.
Segmentation by Type
Based on Application
- High M
- High G
Among all, the High G segment was representing a larger growth of 52% in 2020 and is expected to continue during the estimated timeline. High G is rich in guluronic acid blocks that have wide range in the cosmetic sector.
Segmentation by Application
In terms of revenue the industrial sector was dominating the market with a share of 38.99% in 2020 and will continue till the forecasted timeline.
- Food and Beverages
o Bakery
o Confectionery
o Meat Products
o Dairy Products
- Sauces & Dressings
o Beverages
o Others
- Pharmaceutical
- Industrial
- Others
Regional Analysis
Based on the geographical segment the market covers following regions as North America; Europe; Asia Pacific; Central & South America; MEA. Asia Pacific dominated the market with a revenue share of 37.05%in 2020 and is expected to maintain the same. This is due to prevalence of large consumer base and easy availability of raw material. Moreover, growing consumption of raw material by leading economies such as Germany France and U.K. are supporting the market.
Covid-19 impact on the market:
The recent pandemic has led to dramatic loss of human life globally and an unprecedented challenge to healthcare industry. The virus spread across the globe at an alarming speed tainting millions. The unprecedented lockdowns across the globe had resulted into monetary fall, bringing in catastrophic financial challenges across sectors. Thus, the Alginate Market was negatively affected.
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