The Global Alginate Market size is expected to reach $961.4 Million by 2026, rising at a market growth of 8% CAGR during the forecast period. Alginates are a set of naturally occurring anionic polysaccharides, acquired from brown algae cell walls. Alginates are increasingly utilized in the biomedical and pharmaceutical industries. Moreover, they are widely used in food items due to their stabilizing and thickening characteristics. They have potential application in the food industry and are utilized in the preparation of jellies, jams, and marmalades.
Growing demand for alginate in the food industry due to its excellent gelling properties is anticipated to push the market growth. Alginate has various applications in the healthcare sector due to its easy gelation and biocompatibility. The product is extensively utilized in the development of wound dressing due to its porous structure and high-water absorption ability. Additionally, it finds potential application in the food & beverage sector due to its robust gelling, thickening, and film-forming characteristics.
The rising utilization of calcium and sodium alginate fibers for wound care is expected to fuel the market growth during the forecast period. Leading regulatory agencies such as the FDA and European Commission have allowed the utilization of alginate in the food & beverage sector, which is anticipated to impact the product demand positively. The development of the food and beverage sector, specifically in the Asia Pacific, owing to the rising population, is anticipated to boost the product demand in the region. Moreover, high acceptance of the product in the application industries is anticipated to boost market growth.
Based on Type, the market is segmented into High G and High M. High G alginates dominated the market and procured the highest revenue share of the market in 2019. Huge acceptance of high G type alginate by food and beverage companies owing to its superior emulsion stabilization and excellent gelling performance is increasing the revenue streams of the segment.
Based on Application, the market is segmented into Industrial, Pharmaceutical, Food & Beverages and Others. The industrial application segment dominated the market and procured the major market share in 2019. The products find application in the welding industry as a binder to grip the wet mass created by the addition of sodium silicate in welding coatings. The alginates utilized in welding rods help in keeping up the shape of the coating on the welding rod at the time of drying and baking. The product is significantly utilized in the cosmetics sector as a thickener as it provides additional properties like moisture retention, which are of major importance to the cosmetics manufacturers.
Based on Product, the market is segmented into Sodium Alginate, Calcium Alginate, Potassium Alginate, Propylene Glycol Alginate and Others. Sodium alginate dominated the market and garnered a significant global market share in 2019. This is credited to its massive usage in the preparation of numerous food items that include sauces, dressings, whipped cream, and jellies. The product provides high stability to the dairy items, like refined and dry cheese, and is utilized to prevent the cracking of icing of cakes and pastries.
| Report Attribute | Details |
|---|---|
| Market size value in 2019 | USD 658.2 Million |
| Market size forecast in 2026 | USD 961.4 Million |
| Base Year | 2019 |
| Historical Period | 2016 to 2018 |
| Forecast Period | 2020 to 2026 |
| Revenue Growth Rate | CAGR of 8% from 2020 to 2026 |
| Number of Pages | 188 |
| Number of Tables | 369 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling |
| Segments covered | Type, Product, Application, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. The U.S. is one of the leading markets for alginates worldwide due to massive product penetration across the pharmaceutical sector. The wound care market in the country is highly developed and identified by the massive utilization of cutting-edge wound care products, including alginates. The rising healthcare spending in the form of health insurance has been one of the significant trends influencing the U.S. market. The increasing demand for convenience foods in the region is anticipated to boost the market over the forecast period.
Free Valuable Insights: Global Alginate Market to reach a market size of $961.4 Million by 2026
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include DuPont de Nemours, Inc., Doehler Group SE, Algaia S.A. (Maabarot Products Ltd.), Marine Biopolymers Ltd. (MBL), Ingredients Solutions, Inc., KIMICA Corporation, IRO Alginate Industry Co., Ltd., Ceamsa, SNAP Natural & Alginate Product Pvt. Ltd., and Shandong Jiejing Group Corporation.
By Type
By Product
By Application
By Geography
Companies Profiled
The alginate market size is projected to reach USD 961.4 million by 2026.
The major factors that are anticipated to drive the alginate industry include increasing demand for the product in the textile industry.
DuPont de Nemours, Inc., Doehler Group SE, Algaia S.A. (Maabarot Products Ltd.), Marine Biopolymers Ltd. (MBL), Ingredients Solutions, Inc., KIMICA Corporation, IRO Alginate Industry Co., Ltd., Ceamsa, SNAP Natural & Alginate Product Pvt. Ltd., and Shandong Jiejing Group Corporation.
The Asia Pacific dominated the market and held the largest market revenue share in 2019.
The expected CAGR of alginate market is 8% from 2020 to 2026.
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