Global Propylene Glycol Alginate Market – Overview
The propylene glycol alginate market is rising impressively with the increasing demands from the end-user industries. Propylene glycol alginate, also known as PGA E405, has varied use as preservatives, thickeners, gelling agents, emulsifiers, surfactants, defoaming agents, and texture stabilizer. An ester of the alginic acid that is found in the cell walls of brown algae as viscous gum, propylene glycol alginate is a linear copolymer that can be utilized in several sectors.
The global propylene glycol alginate market can expect a robust growth rate during the forecast period (2021-2030) and cross the estimated valuation mark by the end of 2030, claims Market Research Future (MRFR) in a published report that has as its foundation segmental analysis, drivers that can impact the market in the coming years, and updates of the market players. The endeavor is to provide a holistic report for a better predictive understanding of the market.
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Global Propylene Glycol Alginate Market – Prominent Players
Universal Preserv-A-Chem Incorporated (U.K), Kikkoman Corporation (Japan), KIMICA Corporation (Japan), Fuji Kasei Co. Ltd (Japan), IRO Alginate Industry Co., Ltd (China)., Qingdao Bright Moon Seaweed Group Co.,Ltd (China), and Rizhao Jiejing Group Co., Ltd (China) among others are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the global Propylene Glycol Alginate Market.
Growth Boosters and Challenges
Rapid globalization worldwide has led to an increase in rigorous research and development activities among the players, with rising focus on the production of specialty ingredients. Propylene glycol alginate remains one of the most popular ingredients noting significant demand across the globe. The product, in multiple variants, are progressively being introduced in the global market, and is witnessing extensive use across a number of end-use industries. Propylene glycol alginate is widely used as a thickening agent in ice creams and salad dressing and as a foam stabilizer in the brewery sector. It is also used as a food preservative and as an ingredient in a number of condiments as well as chewing gums.
The wound care industry worldwide has developed considerably and extensively uses propylene glycol alginate in various wound care products. The use of the product has grown immensely in the pharmaceutical industry as an emulsion stabilizer, thickening agent, disintegrant and film-forming agent for tablets. As a result, the heightened demand for coating of tablets with reduced viscosity can be a major growth booster in the worldwide market in the coming years.
The global market is extremely competitive, marked by the presence of several ambitious manufacturers. A massive consumer base along with the significant of chief raw material in Asia Pacific has also pushed the competitive level in the market, as mergers, agreements and partnerships between players rising at a significant rate.
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Propylene Glycol Alginate Market – Segments:
The market for propylene glycol alginate has been considered for application and end-users.
With respect to application, the propylene glycol alginate industry caters to texture stabilizers, preservatives, emulsifiers, gelling agents, thickeners, defoaming agents, surfactants, and more. The product’s use as thickeners and preservatives is significantly high in the food & beverage sector.
The major end-user industries studied in the report are cosmetic & personal care, pharmaceuticals, food & beverage, and others. In view of the rapidly evolving lifestyle and eating habits, the food & beverage segment has emerged as the top end-user in the global market. On the other hand, the pharmaceutical segment will obtain a healthy growth rate in the near future, primarily due to the significant product demand owing to its impressive healing properties in wet and dry conditions. Propylene glycol alginate facilitates the medicines’ controlled release into the drugs, acting as disintegrants, which drives the segmental growth.
Propylene Glycol Alginate Market – Regional Analysis:
MRFR report has highlighted a few key regions as per which the global market for propylene glycol alginate has been analyzed, namely Latin America, North America, Asia Pacific (APAC), Middle East & Africa (MEA) and Europe.
North America is currently the market leader and will successfully maintain its winning streak throughout the review timeframe. The market growth in the region is backed by the presence of a highly urban crowd and the significant rate of industrialization. The huge food and beverage industry present in the United States also elevates the market position. The region’s well-established infrastructure and the subsequent increase in researches with respect to pharmaceutical and cosmetic products also warrants substantial market growth. Some of the most renowned companies in the pharmaceutical and food & beverages industries are present in the region, which ensures robust demand for the propylene glycol alginate market.
The APAC market is progressing at the fastest pace and will secure considerable profits in the ensuing years, since emerging countries like China, and India extensively use propylene glycol alginate efficiency as pesticides, fungicides and herbicides. The processed food industry in the region is flourishing at a stunning pace, which also ensures the regional market’s prolific run. While the escalating rate of beer consumption in the region bolsters the growth, the presence of a huge number of reputed manufacturers as well as the high availability of key raw materials also add to the market’s value. The vast consumer base across countries such as China and India, further strengthens the market’s position in the region.
Europe can be a moderate gainer in the coming years, encouraged by the rising spending on exhaustive research and development activities in the pharmaceutical sector, which is a major-end-user. The accelerated consumption rate in prominent end-use industries in developed economies such as France, the U.K and Germany bolster the market expansion rate. The substantial product demand in the food processing sector, backed by the approval from the European Commission under EC 1333/2008 will also enhance the market size in the region over the following years.
In 2018, DuPont started investing in the JRS Group’s alginate business. This investment targets an increase in the portfolio in the food & beverage segment that would solidify the credentials of the company from a nutritional aspect.
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TABLE OF CONTENTS
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
3 Market Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
4 Market Landscape
4.1 Five Forces Analysis
4.1.1 Threat Of New Entrants
4.1.2 Bargaining Power Of Buyers
4.1.3 Threat Of Substitutes
4.1.4 Segment Rivalry
4.2 Value Chain/Supply Chain Of Global Propylene Glycol Alginate Market
5 Industry Overview Of Global Propylene Glycol Alginate Market
5.2 Growth Drivers
5.3 Impact Analysis
5.4 Market Challenges
6 Market Trends
6.2 Growth Trends
6.3 Impact Analysis
7. Global Propylene Glycol Alginate Market By End Use Industry
7.2 Food & Beverage
7.2.1 Market Estimates & Forecast, 2020-2027
7.2.2 Market Estimates & Forecast By Region, 2020-2027
7.3 Cosmetic & Personal Care
7.3.1 Market Estimates & Forecast, 2020-2027
7.3.2 Market Estimates & Forecast By Region, 2020-2027
7.4.1 Market Estimates & Forecast, 2020-2027
7.4.2 Market Estimates & Forecast By Region, 2020-2027
7.5.1 Market Estimates & Forecast, 2020-2027
7.5.2 Market Estimates & Forecast By Region, 2020-2027
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