Alginate Market Size, Demand and Forecast Report to 2030

Coverage: Alginate Market covers analysis By Type (Sodium Alginate, Calcium Alginate, Potassium Alginate, and Others), Application (Food and Beverages, Pharmaceuticals, Industrial, and Others), and Geography

  • Report Code : TIPRE00016574
  • Category : Food and Beverages
  • No. of Pages : 150
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Alginate Market Size, Demand and Forecast Report to 2030

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[Research Report] The alginate market is expected to grow from US$ 520 million in 2022 to US$ 740 million by 2030; it is expected to record a CAGR of 4.5% from 2022 to 2030.

Market Insights and Analyst View:

The global alginate market is expected to experience a surge in expansion soon owing to manufacturers' continuous improvement in acquiring new technologies through research and development activities. The different polymers in brown algae cells' cell walls bind and give rise to the sticky product alginate. Mainly, the raw materials utilized in the processing operations are mixed alginic acid salts applied in brown seaweed. These alginate-derived solutions' color is often white or yellowish-brown. These alginates in granules and filaments are often applied in different end-use industries. The food and beverage and pharmaceuticals are endorsed with different regulations to use synthetic materials in different end-use industries, mainly in the food and beverage and pharmaceuticals applications. Therefore, due to the rising awareness of bio-based solutions, the global alginate market demands sodium-derived alginate.

Furthermore, global consumers are becoming more aware of natural ingredients and their associated benefits. Further, the increasing demand for consumer goods such as clothing, food, and other products is increasing due to the rising population. These alginates also find their application in textiles used in the sporting and medical industry, and the strong growth for specific fabric characteristics is anticipated lucrative opportunities for the manufacturers of alginates in the textile industry. Textile manufacturers in developed economies, such as North America and Europe, and emerging continents, such as Asia Pacific, are more likely to manufacture technical-grade solutions, such as sustainable textiles, rather than chemical-synthesized consumer goods and other products. As a result, the textile industry has generated the need for technical grade sodium-derived alginate, shifting its focus to specialized specialty textiles.

Growth Drivers and Challenges:

Advanced alginate-based solutions have been considerably developed and applied in different end-use industries in the global alginate market. Calcium and sodium-derived alginate solutions are extensively applied in the wound care industry and are also anticipated to augment the global alginate market growth in the upcoming years. Alginates derived from brown seaweeds are the other comprehensive commercial product sources. The sodium, calcium, and potassium-derived alginates have a broad application scope in the pharmaceutical industry. It is a thickener, emulsion stabilizer, film-forming agent, and disintegrant in manufacturing drugs, including tablets. Additionally, growing product demand in tablet coatings with low viscosity is anticipated to fuel the global alginate market growth. The global alginate market is constantly challenged by the volatile supply quantity of seaweeds owing to unsustainable production techniques, which may restrict overall growth.

Strategic Insights

Report Segmentation and Scope:

The "Global Alginate Market" is segmented based on type, application, and geography. The alginate market is segmented into sodium, calcium, potassium, and others based on type. Based on application, the global alginate market is further segmented into food and beverages, pharmaceuticals, industrial, and others. The alginate market, based on geography, is segmented into North America (the US, Canada, and Mexico), Europe (Germany, France, Italy, the UK, Russia, and the Rest of Europe), Asia Pacific (Australia, China, Japan, India, South Korea, and the Rest of Asia Pacific), the Middle East & Africa (South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa), and South & Central America (Brazil, Chile, and the Rest of South & Central America).

Segmental Analysis:

The alginate market is segmented into sodium, calcium, potassium, and others based on type. Sodium-derived alginate arose as a significant segment in the global market in 2022. It is a white-yellowish powder derived from the cell walls of brown algae and is broadly used as a gelling and thickening agent in the food and beverage industry. It mainly produces sauces, whipped cream, jellies, ice creams, and other dressings. It also delivers superior stability to dairy and dessert products, leading to increased demand among the global population. Calcium-derived alginates are broadly used in pharmaceutical applications, including wound care and wound dressing solutions. The calcium-derived fibers promote accelerated healing. Furthermore, in developed countries such as the US, Germany, and Australia, calcium-derived alginate is approved as an anti-foaming agent in the food and beverage industry. It is used as a thickener to improve the viscosity of food and beverage solutions, which is anticipated to drive the calcium-derived alginate segment growth during the forecast period.

Regional Analysis: 

Based on geography, the alginate market is segmented into five key regions—North America, Europe, Asia Pacific, South and Central America, and the Middle East & and Africa. In the global alginate market, North America holds a significant share in 2022, mainly driven by the rise in per capita health spending in health and wellness. Over the forecast period, the North American alginate market is anticipated to be driven by increased demand for convenience food options such as RTE and RTC meals, snacks, and dairy and frozen dessert products in the region. Many international and national alginate manufacturers in the region fuel the demand for the global alginate market during the forecast period. Over the past few years, the region's expanded consumer demand for culinary products such as chicken and beef nuggets, ice cream, yogurt, and meat snacks is anticipated to expand the need for gelling agents, emulsifiers, and stabilizers. A heightened consumer preference for convenience and fast-food options incorporated with natural-origin components drives the North American alginate market.

Additionally, the region's huge population and growing disposable income have influenced the North American alginate market over the past few years. Other regions, such as Asia Pacific and Europe, are also known for well-established facilities and have been exported internationally in large quantities of alginate and alginate-derived products. They often serve the markets in the food industry in manufacturing sauces, processed meals, snacks, dressings, and dairy and frozen dessert products. These alginates derived from sodium, calcium, and potassium also widely serve other industries, such as pharmaceuticals, printing, and other industrial industries in emerging countries over the forecast period.

Industry Developments and Future Opportunities: 

Various initiatives taken by the key players operating in the alginate market are listed below:

  1. In March 2023, JRS Group acquired Algaia SA, a leading hydrocolloid and fiber manufacturer. This strategic initiative enabled the companies to jointly address the rising demand for alginate and alginate-derived solutions, catering to the different end-use industries such as feed, food, pharma, home and personal care, and agriculture.
  2. In October 2022, KIMICA Corporation announced the establishment of a new research and development facility, "KIMICA HONKAN", in Chiba-Prefecture. The established facility aimed to provide quality control labs, research and development labs, office spaces, and welfare installations.
  3. In February 2023, Algaia SA announced the expansion of its research and development center premises in France with the help of funding obtained from Saint Lô Agglo. This expansion involves the building of new laboratories with advanced and modern equipment.
  4. In October 2022, KIMICA Corporation revealed the establishment of two warehouses in Futtsu City. This laboratory has served the food industry for the expansion of innovative alginate applications, while the quality control division has been designed to comply with pharmaceutical regulations.

COVID-19 Impact:

The COVID-19 pandemic affected economies and industries in various countries. Travel bans, lockdowns, and business shutdowns in leading countries in North America, Europe, Asia Pacific (APAC), South & and Central America (SAM), and the Middle East and Africa (MEA) negatively affected the growth of various industries, including the food and beverage, pharmaceuticals, and industrial in the alginate market. The shutdown of manufacturing units disturbed global supply chains, delivery schedules, manufacturing activities, and sales of essential products, including food additives such as alginate. Various companies announced possible delays in product deliveries and a slump in future sales of their products in 2020. In addition, the bans imposed by various governments in Europe, Asia, and North America on international travel forced the companies to put their collaboration and partnership plans on a temporary hold. All these factors hampered the food and beverage industry in 2020 and early 2021, restraining the alginate market's growth.

Competitive Landscape and Key Companies:

DuPont, KIMICA Corporation, Qingdao Rongde Seaweed Co., Ltd., Prestige Brands, Inc., Cargill, Incorporated, Qingdao Liyang Seaweed Industrial Co., Ltd., Shandong Jiejing Group Corporation, Prinova Europe Limited, Compañía Española de Algas Marinas S.A., and Ingredients Solutions, Inc. are among the prominent players operating in the global alginate market. These alginate manufacturers offer a modern and hi-tech variety of products in alginate with innovative features to deliver a superior experience to different end users.

REGIONAL FRAMEWORK

Alginate Market Report Analysis

Alginate Market

  • CAGR (2023 - 2031)
    4.50%
  • Market Size 2023
    US$ 543.40 Million
  • Market Size 2031
    US$ 772.77 Million

Report Coverage

  • Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
  • Key future trends
  • Detailed PEST/Porter’s Five Forces and SWOT analysis
  • Industry landscape and competition analysis & recent developments
  • Detailed company profiles
  • Global and regional market analysis covering key market trends, major players, regulations, and recent market developments

Key Players

  • DuPont
  • KIMICA Corporation
  • Qingdao Rongde Seaweed Co., Ltd.
  • Prestige Brands, Inc.
  • Cargill, Incorporated
  • Qingdao Liyang Seaweed Industrial Co.,Ltd
  • Shandong Jiejing Group Corporation
  • Prinova Europe Limited
  • Compañía Española de Algas Marinas S.A.

Regional Overview

  • North America
  • Europe
  • Asia-Pacific
  • South and Central America
  • Middle East and Africa

Market Segmentation

By Type
  • Sodium Alginate
  • Calcium Alginate
  • Potassium Alginate
  • Others
By Application
  • Food and Beverages
  • Pharmaceuticals
  • Industrial
  • Others
  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
MARKET PLAYERS

Alginate Market Report Scope

Report Attribute Details
Market size in 2023 US$ 543.40 Million
Market Size by 2031 US$ 772.77 Million
Global CAGR (2023 - 2031) 4.50%
Historical Data 2021-2022
Forecast period 2024-2031
Segments Covered By Type
  • Sodium Alginate
  • Calcium Alginate
  • Potassium Alginate
  • Others
By Application
  • Food and Beverages
  • Pharmaceuticals
  • Industrial
  • Others
Regions and Countries Covered North America
  • US
  • Canada
  • Mexico
Europe
  • UK
  • Germany
  • France
  • Russia
  • Italy
  • Rest of Europe
Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
South and Central America
  • Brazil
  • Argentina
  • Rest of South and Central America
Middle East and Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of Middle East and Africa
Market leaders and key company profiles
  • DuPont
  • KIMICA Corporation
  • Qingdao Rongde Seaweed Co., Ltd.
  • Prestige Brands, Inc.
  • Cargill, Incorporated
  • Qingdao Liyang Seaweed Industrial Co.,Ltd
  • Shandong Jiejing Group Corporation
  • Prinova Europe Limited
  • Compañía Española de Algas Marinas S.A.
    • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
    Report Coverage
    Report Coverage

    Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

    Segment Covered
    Segment Covered

    This text is related
    to segments covered.

    Regional Scope
    Regional Scope

    North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

    Country Scope
    Country Scope

    This text is related
    to country scope.

    The List of Companies

    1. DuPont
    2. KIMICA Corporation
    3. Qingdao Rongde Seaweed Co., Ltd.
    4. Prestige Brands, Inc.
    5. Cargill, Incorporated
    6. Qingdao Liyang Seaweed Industrial Co.,Ltd
    7. Shandong Jiejing Group Corporation
    8. Prinova Europe Limited
    9. Compañía Española de Algas Marinas S.A.
    10. A2 Trading GmbH
    11. Ingredients Solutions, Inc.
    12. SNP, Inc.
    13. USA Chemical Suppliers 2
    14. SAE International
    15. WEGO CHEMICAL GROUP
    16. Ottokemi
    17. SNAP Natural and Alginate Products Pvt. Ltd.
    18. S.R.K. Enterprises.
    19. B JOSHI AGROCHEM PHARMA
    20.Alec Tiranti

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