Global Alginate market was valued at US$ 926.3 Mn in 2019 and it is expected to reach at US$ 1322.1 Mn by 2027, growing at CAGR 4.6 % during the period, 2016-2027. Increasing demand for alginate in the food industry due to its robust gelling properties is expected to augment the market growth. The increasing use of sodium and calcium alginate fibers for wound care in pharmaceutical is anticipated to drive the market over the forecast period. The use of the alginate in the food and beverage sector is permitted by major regulatory agencies, including the FDA (Food and Drug Administration) and European Commission, which is expected to have a positive impact on the product demand.
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Market Drivers: Rise in demand in Food Industry
Rise in demand for alginate in the food industry owing to its robust gelling properties driving factor for the global alginate market. Alginate has its functional properties such as thickening agent, gelling agent, stabilizer, emulsifier and film-forming property. In addition, alginate is extracted from natural seaweeds, one of safest food additive in food industry and also certified by FAO/WHO. Sodium Alginate is extracted from brown seaweed. The product is used as a stabilizer for yogurt, ice cream, cream, and cheese. Also, It acts as a emulsifier and thickener for pudding, jam, salad, tomato juice, and canned products. Alginate is a hydration agent for bread, cool, noodles, and frozen products. Alginate also can preserve frozen fish. Coatings and films of calcium alginate are capable of preserving frozen fish. It is highly useful in oily fish that becomes rancid smelling because of oxidation even when quickly frozen.
Restraints: Availability of substitute can hinder the alginate market
Alginate is a biomaterial which has numerous applications in biomedical science and engineering due to its favorable properties, such as biocompatibility and ease of gelation. However, there are few materials which can be used as substitute for alginate
In September 2017, Zhermack Inc., a producer of impression materials for dental clinicians and high-tech solutions for dental laboratories, has announced the introduction of the new material “Freealgin” which can be used as alternative for alginate. Freealgin is highly dimensionally stable material that allows for no time limitations for pouring, multi-casting capabilities, safe disinfection & high tear resistance. Freealgin is ideal for preliminary, removable prosthesis, orthodontic, antagonists and temporary impressions. The availability of substitute hinders the demand of global alginate market
Opportunity: Potassium Alginate creates new opportunities in food industry
Potassium Alginate is used as a thickener, gelling agent, and a possible new material substituting for sodium alginate. For low salt diets and sodium intake suppression, potassium alginate is commonly used as compared to sodium alginate. For health food applications alginate act as a dietary fiber, potassium alginate has become popular. As per the research, potassium alginate has a much higher sodium ion adsorption capacity over other polysaccharides and the ingestion of potassium alginate. This leads to excretion of sodium from the body. The research also suggests that it is effective in suppressing hypertension.
In addition to the conventional dietary fiber effect (suppression of blood cholesterol, improvement of bowel movements, etc.), the expectations for potassium alginate as a new material which has the effect of excreting sodium from the human body have certainly increased.
Global Alginate Market Share Analysis, By Product
Sodium alginate is expected to create significant opportunities over the forecast period. Sodium Alginate has the highest use and demand as it is soluble in hot and cold water with strong agitation and can help in thickening and binding. Sodium alginate is also used in the food industry to increase the viscosity and as an emulsifier. Alginate is also used in indigestion tablets, and it has no distinguishable flavor. The global demand for sodium alginates is increased due to its various industrial applications such as ceramics, paper textile, and pharmaceuticals, cosmetics, along with food & beverage industry.
Global Alginate Market Share Analysis, By Application
Food and pharmaceutical industry vertical are prime end use industry for alginate. Alginate has superior properties in terms of mild gelation conditions and simple functionalization, biocompatibility, low toxicity, biodegradability, non-antigenicity and chelating ability, as well as relatively low cost. Due to these properties, alginates have been widely used in a variety of pharmaceutical applications such as tissue engineering and drug delivery systems.
Global Alginate Market Share Analysis, By Region
North America and Europe dominate the global alginate market. Emerging countries are rising as leading exporters of alginates to the North American as well as European countries. Asia-Pacific is the fastest-growing markets due to the rise in consumption of processed and convenience foods in the region. Additionally, Asia-Pacific is also one of the significant producers and exporters of alginates. In North America and Europe, alginates are particularly used in sauces, processed foods, and dressings, dairy products. The pharmaceutical industry is still untapped in the developing countries as compared with the developed countries.
North America Alginate market was valued at US$ 262.4 Mn in 2019 and it is expected to reach at US$ 331.6 Mn by 2027, growing at CAGR 3.0% during the period, 2016-2027. In North America, the U.S. is the largest revenue contributor. The increasing per capita healthcare spending in the form of health has been one of the major trends impacting the U.S. market. The rise in demand for convenience foods in the region is anticipated to drive the market over the forecast period. The global alginate market also benefits from the presence of various multinational food processing and manufacturing companies will increase the demand for alginate in near future.
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Market Key Players
Various key players are discussed in this report such as DuPont de Nemours, Marine Biopolymers Ltd, KIMICA, Algaia, Dohler Group, Ingredients Solutions, Inc, Ceamsa, Danisco A/S, FMC Corporation, and Shandong Jiejing Group.
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