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Global Alginate Market- Description
Alginate refers to an anionic polysaccharide predominantly found in brown algae. Moreover, the term is also used to address all the derivatives of alginic acid including its salts. These components are generally of white to yellowish brown in color and are widely available in granular, filamentous, and powder form. Alginates are commonly used for several industrial products food like paints, dyes, paper coating, textiles, printing, and adhesives. The global alginate market is expected to experience significant growth in the coming years due to increasing demand from various end-use industries. The food industry, in particular, is a major consumer of alginate, where it is used as a thickening and stabilizing agent in various food products, such as dairy, bakery, and meat products. The increasing demand for convenience foods and processed foods is expected to drive the growth of the alginate market in the food industry. The pharmaceutical industry is another major consumer of alginate, where it is used as an excipient in the formulation of various drugs. Alginate is also used in wound dressings and dental impressions due to its biocompatibility and biodegradability. The cosmetics industry is also a significant consumer of alginate, where it is used as a thickener and emulsifier in various cosmetic products, such as shampoos, lotions, and creams.
Source: WMR
Global Alginate Market- Overview
Global alginate market was worth USD 759.8 million in 2022 and is anticipated to expand at a CAGR of 5% over 2023-2033, thereby accumulating USD 1195.58 million by the end of the analysis timeframe.
The primary factors driving the growth of this marketplace are increasing seaweed cultivation, high consumption of baked food products, and rising consumer preference for plant-based food. On the contrary, side effects associated with the product is likely to impede market progression in the ensuing years.
Source: WMR
Global Alginate Market- Key trends
Escalating demand from food industry is boosting market expansion
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.
Global Alginate Market- Segment analysis
By Source
Laminaria
Macrocystis
Ascophyllum
Others
By Type
High M
High G
The High G segment is anticipated to register a CAGR of more than 3% over the forecast duration. This is attributable to the multiple benefits associated with high G alginates like higher biocompatibility and ability to boost cytokine production and immunogenicity so as to increase their adoption in biomedical science and engineering. Moreover, increasing government incentives in the healthcare sector and surging prevalence of diseases are fueling the demand for biomedical materials & devices, thereby expanding the overall market size.
Source: WMR
By Application
Food & Beverages
o Bakery
o Confectionary
o Meat Products
o Dairy Products
o Sauces & Dressings
o Beverage
o Others
Medical & Pharmaceutical
Cosmetic
Textile
Pulp & Paper
Others
Among these, the pharmaceutical segment is projected to amplify with a notable CAGR ascribing to alginates efficient healing abilities in both wet and dry conditions. In fact, it can also act as a disintegrate and can help to facilitate controlled release of medicines in drugs.
By Product
Sodium Alginate
Calcium Alginate
Potassium Alginate
Propylene Glycol
By Function
Thickener
Emulsifier
Stabilizer
Acidity Regulator
Others
Global Alginate Market- Regional Analysis
North America, Europe, Latin America, Asia Pacific, and Middle East & Africa are the key regions constituting the geographical landscape of this industry. Among these, Asia Pacific presently dominated the overall market in terms of revenue share and is anticipated to showcase similar growth trends over the stipulated timeline. This is attributable to the easy availability of raw materials, presence of large consumer base and major manufacturers.
Similarly, Europe is expected to register significant CAGR over the forecast duration owing to rising expenditure in research & development in pharmaceutical industry and expansion in the food processing sector.
Global Alginate Market- Competitive Hierarchy
Major players constituting the competitive hierarchy of global alginate market are Algaia, CP Kelco, Ingredients Solutions Inc., Marine Biopolymers Limited, Dohler Group, Danisco A/S, FMC Corporation, Kimica Corporation, IRO Alginate Industry Co., Ltd., SNAP Natural & Alginate Products Pvt Ltd., Qingdao Gather Great Ocean Algae Industry Group Co. Ltd., Lianyungang Huanyu Seaweed Co. Ltd., DuPont de Nemours, Ceamsa, Shandong Jiejing Group, The JRS Group, Ltd., Maabarot Products Ltd., Ashland Inc., Zibo Wangfei Seaweed Tech. Co., Ltd., Meron Group, WIBERG Canada, Hangzhou Mobel Biotechnology Co., Ltd., SNP Inc., Qingdao Lanneret Biochemical Co., Ltd., IRO Alginate Industry Co., Ltd., WillPowder, LLC, and Others.
Notably, France based seaweed extracts company Algaia SA in October 2019 inked a partnership deal with pectin manufacturer Herbstreith & Fox. This deal was intended at creating a sustainable formulation of pectin & alginate with enhanced stability and functionality that can be ideally used for various baking applications.
Apart from that, several other top notch players are undertaking various favorable business centric strategies like mergers & acquisitions, collaboration deals, partnerships, research & development initiatives among others to expand their reach and garner substantial returns in the coming years.
Global Alginate Market- Scope
Global Alginate Market- Historical years- 2020-2021
Global Alginate Market- Forecast Years- 2023-2033
Global Alginate Market Value 2022- USD 759.8 million
Global Alginate Projected Market 2033- USD 1195.58 million
Global Alginate Market CAGR- 5%
Key segments reported-
Market By Type (High M, High G)
By Product (Sodium, Calcium, Potassium, and Propylene Glycol),
By Application (Food & Beverage [Baking, Confectionary, Dairy Products, and Meat Products], Medical & Pharmaceutical, Cosmetic, textile, pulp & paper),
Key regions reported-
North America (US and Canada)
Asia Pacific (China, India, Australia, South Korea, and Japan)
Europe (Germany, UK, France, Italy, Russia, Spain, and Poland)
Latin America (Brazil)
Middle East & Africa (South Africa, Saudi Arabia, and UAE)
Top players profiled- Algaia, CP Kelco, Ingredients Solutions Inc., Marine Biopolymers Limited, Dohler Group, Danisco A/S, FMC Corporation, Kimica Corporation, IRO Alginate Industry Co., Ltd., SNAP Natural & Alginate Products Pvt Ltd., Qingdao Gather Great Ocean Algae Industry Group Co. Ltd., Lianyungang Huanyu Seaweed Co. Ltd., DuPont de Nemours, Ceamsa, Shandong Jiejing Group, The JRS Group, Ltd., Maabarot Products Ltd., Ashland Inc., Zibo Wangfei Seaweed Tech. Co., Ltd., Meron Group, WIBERG Canada, Hangzhou Mobel Biotechnology Co., Ltd., SNP Inc., Qingdao Lanneret Biochemical Co., Ltd., IRO Alginate Industry Co., Ltd., WillPowder, LLC, and Others.
1. Global Alginate Market Introduction and Market Overview
1.1. Objective of the Market Research Study
1.2. Alginate Market Definition & Description
1.3. Research Data Parameters & Reporting Timelines
1.3.1. Historical Data Reporting Years 2020 to 2021
1.3.2. Projected Data Reporting Years 2022 to 2033
1.3.3. Reporting Data Parameters Value (US$ Million) & Volume (Kilo tons)
1.4. Global Alginate Market Scope and Market Estimation
1.4.1. Global Alginate Overall Market Size (US$ Million) & (Kilo tons), Market CAGR (%), Market Estimates & Forecast (2020 to 2033)
1.4.2. Global Alginate Market Revenue Share (%) and Growth Rate (Y-o-Y) from 2020 to 2033
1.5. Alginate Market Segmentation
1.5.1. Source of Global Alginate Market
1.5.2. Type of Global Alginate Market
1.5.3. Product of Global Alginate Market
1.5.4. Function of Global Alginate Market
1.5.5. Application of Global Alginate Market
1.5.6. Key Regions of Global Alginate Market
2. Global Alginate Market - Executive Summary
2.1. Global Alginate Market Summary & Snapshot
2.2. Global Alginate Market, By Source (US$ Million) & (Kilo tons)
2.3. Global Alginate Market, By Type (US$ Million) & (Kilo tons)
2.4. Global Alginate Market, By Product (US$ Million) & (Kilo tons)
2.5. Global Alginate Market, By Function (US$ Million) & (Kilo tons)
2.6. Global Alginate Market, By Application (US$ Million) & (Kilo tons)
2.7. Global Alginate Market, By Geography (US$ Million) & (Kilo tons)
2.8. Global Alginate Market Outlook & Future Opportunities
3. Alginate Market Trends, Outlook, and Factors Analysis
3.1. Global Alginate Market Industry Development Trends under COVID-19 Outbreak
3.1.1. Global COVID-19 Status Overview
3.1.2. Influence of COVID-19 Outbreak on Global Alginate Market Industry Development
3.1.3. Pre & Post COVID-19 Trends and Scenarios
3.2. Market Dynamics (Growth Impacting Factors & Rationales)
3.2.1. Drivers
3.2.1.1. Rising demand for alginates in wound dressing and dental materials
3.2.1.2. High consumption of baked food products
3.2.1.3. Consumer shifted towards plant based food
3.2.2. Restraints
3.2.2.1. Possible side effects of alginic acid
3.2.3. Opportunities
3.2.3.1. Use of emulsifiers in salad dressings, peanut butter, chocolate, and others.
3.2.3.2. Continuous innovation in food products.
3.2.4. Impact Analysis of Drivers and Restraints
3.3. Ecosystem/ Value Chain Analysis
3.4. Porters Five Forces Analysis
3.5. SWOT Analysis
3.6. PEST Analysis
3.7. Average Selling Prices and Pricing Trends Analysis of Alginate Market
3.8. Technological Roadmap
3.9. Key Investment Pockets of Alginate Market
3.9.1. By Source
3.9.2. By Type
3.9.3. By Product
3.9.4. By Function
3.9.5. By Application
3.9.6. By Regions
4. Global Alginate Market: Estimates & Historic Trend Analysis (2020 to 2021)
4.1. Global Alginate Market, 2020 2021 (US$ Million) & (Kilo tons)
4.2. Global Alginate Market, By Source, 2020 to 2021 (US$ Million) & (Kilo tons)
4.3. Global Alginate Market, By Type, 2020 to 2021 (US$ Million) & (Kilo tons)
4.4. Global Alginate Market, By Product, 2020 to 2021 (US$ Million) & (Kilo tons)
4.5. Global Alginate Market, By Function, 2020 to 2021 (US$ Million) & (Kilo tons)
4.6. Global Alginate Market, By Application, 2020 to 2021 (US$ Million) & (Kilo tons)
4.7. Global Alginate Market, By Region, 2020 to 2021 (US$ Million) & (Kilo tons)
5. Global Alginate Market Estimates & Forecast Trend Analysis, by Source
5.1. Global Alginate Market Share (%) Estimates and Forecasts, by Source, 2022 & 2033
5.2. Global Alginate Market Size (US$ Million) & (Kilo tons) Estimates and Forecasts, by Source, 2022 to 2033
5.2.1. Laminaria
5.2.2. Macrocystis
5.2.3. Ascophyllum
5.2.4. Others
6. Global Alginate Market Estimates & Forecast Trend Analysis, by Type
6.1. Global Alginate Market Share (%) Estimates and Forecasts, by Type, 2022 & 2033
6.2. Global Alginate Market (US$ Million) & (Kilo tons) Estimates and Forecasts, by Type, 2022 to 2033
6.2.1. HIgh M
6.2.2. High G
7. Global Alginate Market Estimates & Forecast Trend Analysis, by Product
7.1. Global Alginate Market Share (%) Estimates and Forecasts, by Product, 2022 & 2033
7.2. Global Alginate Market (US$ Million) & (Kilo tons) Estimates and Forecasts, by Product, 2022 to 2033
7.2.1. Sodium Alginate
7.2.2. Calcium Alginate
7.2.3. Potassium Alginate
7.2.4. Propylene Glycol Alginate
7.2.5. Others
8. Global Alginate Market Estimates & Forecast Trend Analysis, by Function
8.1. Global Alginate Market Share (%) Estimates and Forecasts, by Function, 2022 & 2033
8.2. Global Alginate Market (US$ Million) & (Kilo tons) Estimates and Forecasts, by Function, 2022 to 2033
8.2.1. Thickener
8.2.2. Emulsifier
8.2.3. Stabilizer
8.2.4. Acidity Regulator
8.2.5. Others
Global Alginate Market Estimates & Forecast Trend Analysis, by Application
8.3. Global Alginate Market Share (%) Estimates and Forecasts, by Application, 2022 & 2033
8.4. Global Alginate Market (US$ Million) & (Kilo tons) Estimates and Forecasts, by Application, 2022 to 2033
8.4.1. Food & Beverages
8.4.1.1. Bakery
8.4.1.2. Confectionery
8.4.1.3. Meat Products
8.4.1.4. Dairy Products
8.4.1.5. Sauces & Dressings
8.4.1.6. Beverage
8.4.1.7. Others
8.4.2. Medical & Pharmaceutical
8.4.3. Cosmetic
8.4.4. textile
8.4.5. Pulp & Paper
8.4.6. Others
9. Global Alginate Market Analysis and Forecast, by Region
9.1. Global Alginate Market Share (%) Estimates and Forecasts, by Region, 2022 & 2033
9.2. Global Alginate Market (US$ Million) & (Kilo tons) Estimates and Forecasts, by Region, 2022 to 2033
9.2.1. North America
9.2.2. Europe
9.2.3. Asia Pacific
9.2.4. Middle East and Africa
9.2.5. Latin America
10. North America Alginate Market: Estimates & Forecast Trend Analysis
10.1. North America Alginate Market Assessments & Key Findings
10.2. North America Alginate Market Share (%) Estimates and Forecasts, 2022 & 2033
10.3. North America Alginate Market Size Estimates and Forecast (US$ Million) & (Kilo tons) (2022 to 2033)
10.3.1. By Source
10.3.2. By Type
10.3.3. By Product
10.3.4. By Function
10.3.5. By Application
10.3.6. By Major Country
10.3.6.1. The U.S.
10.3.6.2. Canada
11. Europe Alginate Market: Estimates & Forecast Trend Analysis
11.1. Europe Alginate Market Assessments & Key Findings
11.2. Europe Alginate Market Share (%) Estimates and Forecasts, 2022 & 2033
11.3. Europe Alginate Market Size Estimates and Forecast (US$ Million) & (Kilo tons) (2022 to 2033)
11.3.1. By Source
11.3.2. By Type
11.3.3. By Product
11.3.4. By Function
11.3.5. By Application
11.3.6. By Major Country
11.3.6.1. Germany
11.3.6.2. The U.K.
11.3.6.3. France
11.3.6.4. Italy
11.3.6.5. Spain
11.3.6.6. Rest of Europe (includes all other European countries)
12. Asia Pacific Alginate Market: Estimates & Forecast Trend Analysis
12.1. Asia Pacific Alginate Market Assessments & Key Findings
12.2. Asia Pacific Alginate Market Share (%) Estimates and Forecasts, 2022 & 2033
12.3. Asia Pacific Alginate Market Size Estimates and Forecast (US$ Million) & (Kilo tons) (2022 to 2033)
12.3.1. By Source
12.3.2. By Type
12.3.3. By Product
12.3.4. By Function
12.3.5. By Application
12.3.6. By Major Country
12.3.6.1. China
12.3.6.2. Japan
12.3.6.3. India
12.3.6.4. ASEAN
12.3.6.5. South Korea
12.3.6.6. Rest of Asia Pacific (includes all other Asia Pacific countries)
13. Middle East & Africa Alginate Market: Estimates & Forecast Trend Analysis
13.1. Middle East & Africa Alginate Market Assessments & Key Findings
13.2. Middle East & Africa Alginate Market Share (%) Estimates and Forecasts, 2022 & 2033
13.3. Middle East & Africa Alginate Market Size Estimates and Forecast (US$ Million) & (Kilo tons) (2022 to 2033)
13.3.1. By Source
13.3.2. By Type
13.3.3. By Product
13.3.4. By Function
13.3.5. By Application
13.3.6. By Major Country
13.3.6.1. GCC
13.3.6.2. South Africa
13.3.6.3. Egypt
13.3.6.4. Rest of Middle East & Africa (includes all other Middle East & Africa countries)
14. Latin America Alginate Market: Estimates & Forecast Trend Analysis
14.1. Latin America Market Assessments & Key Findings
14.2. Latin America Alginate Market Share (%) Estimates and Forecasts, 2022 & 2033
14.3. Latin America Alginate Market Size Estimates and Forecast (US$ Million) & (Kilo tons) (2022 to 2033)
14.3.1. By Source
14.3.2. By Type
14.3.3. By Product
14.3.4. By Function
14.3.5. By Application
14.3.6. By Major Country
14.3.6.1. Brazil
14.3.6.2. Mexico
14.3.6.3. Rest of Latin America (includes all other Latin America countries)
15. Competitive Landscape
15.1. Market Revenue Share Analysis (%), by Major Players (2021)
15.2. Market Competition Matrix, by Leading Players
15.3. List of Emerging, Prominent and Leading Players
15.4. Major Mergers & Acquisitions, Partnership, Joint Venture, Expansions, Deals, Recent Developments, etc.
16. Company Profiles
16.1. Algaia
16.1.1. Company Overview & Insights
16.1.2. Financial PerTypeance
16.1.3. Product / Service Portfolio
16.1.4. Geographical Footprint & Share
16.1.5. Strategic Initiatives & Key Developments
*Similar details would be provided for all the players mentioned below
16.2. CP Kelco
16.3. Ingredients Solutions Inc.
16.4. Marine Biopolymers Limited
16.5. Dohler Group
16.6. Danisco A/S
16.7. FMC Corporation
16.8. Kimica Corporation
16.9. IRO Alginate Industry Co., Ltd.
16.10. SNAP Natural & Alginate Products Pvt Ltd.
16.11. Qingdao Gather Great Ocean Algae Industry Group Co. Ltd.
16.12. Lianyungang Huanyu Seaweed Co. Ltd
16.13. DuPont de Nemours
16.14. Marine Biopolymers Ltd
16.15. Ingredients Solutions, Inc,
16.16. Ceamsa
16.17. Shandong Jiejing Group.
16.18. The JRS Group, Ltd
16.19. KIMICA Corporation
16.20. Maabarot Products Ltd
16.21. Ashland Inc.
16.22. Zibo Wangfei Seaweed Tech. Co., Ltd.
16.23. Meron Group
16.24. WIBERG Canada
16.25. Hangzhou Mobel Biotechnology Co., Ltd
16.26. SNP Inc.
16.27. Qingdao Lanneret Biochemical Co., Ltd.
16.28. IRO Alginate Industry Co., Ltd
16.29. WillPowder, LLC
16.30. Others
17. Assumptions and Research Methodology
17.1. Data Mining
17.2. Secondary Research
17.3. Primary Research
17.4. Subject Matter Expert Advice
17.5. Quality Check
17.6. Final Review
17.7. Data Triangulation
17.8. Bottom-Up Approach
17.9. Top Down Approach
17.10. Research Flow
17.11. Key Insights from Industry Experts
17.12. Data Products
17.13. Assumptions
17.14. Limitations
18. Conclusions and Recommendations
18.1. Key Research Findings and Conclusion
18.2. Key Insights & Recommendations from Analysts