The Asia Pacific Alginate Casings Market would witness market growth of 11.0% CAGR during the forecast period (2023-2030).
The China market dominated the Asia Pacific Alginate Casings Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $77.5 Million by 2030. The Japan market is registering a CAGR of 10.3% during (2023 - 2030). Additionally, The India market would showcase a CAGR of 11.7% during (2023 - 2030).
The sausage industry has relied on casings made from animal intestines or synthetic materials. However, concerns about animal welfare, environmental sustainability, and the desire for plant-based alternatives have fueled the search for innovative solutions.
Moreover, As the demand for meat products grows, there is an increasing need for suitable casings. As per the Food and Agriculture Organization, at an estimated 328 million tons, meat production was steady in 2020.
The unique properties of this can contribute to creating innovative textures and flavors in processed meats. According to the Australian Bureau of Statistics data, in the 2020–21 fiscal year, foods and non-alcoholic beverages weighing 14.7 million tonnes were sold through specialty food stores, grocery stores, supermarkets, and fresh food markets. In comparison to the preceding 12-month period (2019–20), this was up 1.4% (204,100 tonnes) and up 4.9% (686,000 tonnes) from 2018–19. Therefore, the rising food industry in the Asia Pacific is expected to help in the growth of the regional market.
Free Valuable Insights: The Global Alginate Casings Market is Predict to reach $ 1.1 Billion by 2030, at a CAGR of 10.4%
Based on End User, the market is segmented into Food Industry, and Pet Food Industry. Based on Usage, the market is segmented into Halal, Kosher, and Others. Based on Application, the market is segmented into Meat, Fish, and Vegan. Based on Type, the market is segmented into Flavored, Colored, and Basic. Based on countries, the market is segmented into China, Japan, India, South Korea, Australia, Malaysia, and Rest of Asia Pacific.
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