Alginates are type of hydrocolloids which are extracted from brown seaweed. It has different functional properties such as thickening agent, ability to form gel and its usage to form films of sodium and calcium. Alginate has varieties of application in food, textile, printing, dyeing, pharmaceutical and in cosmetic industry. Apart from this, it also has application as binding agent for welding rods and in preparing animal feed. Europe and Asia Pacific dominates the alginate market over the forecast period in terms of volume.
Market Drivers: Alginate Market
Key market drivers which influence the demand of alginate in market is from the food and beverage manufacturers due to its functional properties such as thickening agent, gelling agent, stabilizer, emulsifier and film-forming property. Reason behind its increasing demand in food industry is due to its extraction from natural seaweeds, one of safest food additive in food industry and also certified by FAO/WHO. Food and beverage manufacturers primarily used alginate as thickening agent and texture-improver. On the other side, it is also gaining its demand from textile industry as it is primarily used for printing, designing and dyeing on cotton and jute fabrics.
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Market Segment: Alginate Market
Market of Alginate is segmented in two different basis including on the basis of form and on the basis of application. As per the market segment by form, it is segmented in three different form of alginate which are sodium alginate, calcium alginate and potassium alginate. Sodium alginate has varieties of application in food and textile printing industry and due to which it is expected that it fuels the market growth of alginate over the forecast period. Further, market segment of alginate is segmented on the basis of its application which includes food and beverage, paper, textile, pharmaceutical and other (welding, pet food and cosmetic). Primary demand of alginate in global market accounts from food and beverage, paper and textile industry. In food and beverage industry, demand of alginate is increasing due its higher demand in preparing products such as ice cream, jellies, salads, alcoholic drinks, lactic drinks etc. and in many other products. Key reason behind the increasing demand of alginate in food and beverage industry is also due to its multifunctional properties as it plays significant role as thickening and gelling agent, emulsifier, stabilizer and used to enhance the texture of food recipes. In context to its demand in paper and textile industry, it is used for dying and printing purpose and to control the viscosity in processing of final product. Further, alginate is also gaining its demand form pharmaceutical industry where it has application in manufacturing of tablets, liquid medicines and for making dental impression materials. On the basis of market share, results of alginate market on pie chart shows that, food and beverage industry and textile industry dominates the alginate market over the forecast period.
Regional Segment: Alginate Market
On the basis of regional segment, market of alginate is segmented into five regions namely: North America, Latin America, Europe and Middle East and Africa. As per the alginate production, major producing regions are Europe and Asia Pacific and contributes majority of market share in global level market. In terms of value, it is expected that Europe and North America accounted to major share in terms of value and also as a lucrative market in near future.
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Key players: Alginate Market
Some of the key players which are operating in alginate market are: 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 A2 Trading GmbH.