Alginate Industry Overview
The global alginate market size is projected to reach USD 1.07 billion by 2028 registering a CAGR of 5.0% over the forecast period, according to a new report by Grand View Research, Inc. Rise in product usage as active dyestuff in the textile industry is expected to drive the market over the forecast period. The product is gaining popularity in the food and beverage applications due to rising consumer preference for naturally sourced products. It is predominantly used in the food industry as an emulsifier, gelling agent, and thickening agent. Moreover, increasing application scope in the bakery and confectionery sector is projected to drive the market in the coming years.
Alginate Market Segmentation
Grand View Research has segmented the global alginate market on the basis of type, product, application, and region:
Based on the Type Insights, the market is segmented into high M, high G.
- In terms of revenue, the high G type dominated the global market with a share of over 52% in 2020 and is expected to retain the leading position over the forecast period. High G is rich in guluronic acid blocks that have a wide range of applications in the cosmetics, food, and pharmaceutical industries.
- A higher concentration of the G blocks in high G products leads to increased stabilization and thickness. They exhibit buckled chain structure and slower gel formation compared to the high M. Higher product flexibility offered by the high G type is drives its demand in the pharmaceutical industry.
- The high M type segment is also expected to witness a steady growth rate of 4.7% over the forecast period. These products form gels quicker as compared to high G products leading to higher application in the cosmetic and food industries.
Based on the Product Insights, the market is segmented into sodium, calcium, potassium, propylene glycol, others.
- In terms of revenue, propylene glycol led the market with a revenue share of more than 38% in 2020. It is expected to maintain its dominance growing at the fastest CAGR over the forecast period.
- Sodium emerged as the second-largest product in the market with a revenue share of over 32% in 2020. It is a white-yellowish powder extracted from cell walls of brown algae and widely used as a gelling and thickening agent in the food industry. It is primarily used in the production of sauces, whipped cream, jellies, and other dressings. It also offers superior stability to dairy products leading to increased demand.
- Potassium alginate is a potassium salt of alginic acid and has extensive application in the pharmaceutical industry owing to superior thickening and stabilizing properties. It helps in the reduction of blood sugar and cholesterol levels in humans, which is expected to increase its application in the pharmaceutical industry, thereby supporting the segment growth.
- Calcium alginates are widely used in pharmaceutical applications like wound care and wound dressing products. The calcium-based fibers enable accelerated healing.
Based on the Application Insights, the market is segmented into food & beverages, pharmaceutical, industrial, others.
- The food and beverages segment is expected to witness a significant CAGR over the forecast period. Increasing demand for food products containing natural ingredients is expected to drive the segment growth.
- Industrial application dominated the industry with a share of 38.99% in 2020 and is expected to maintain a dominating position over the forecast period.
- The pharmaceutical segment is projected to register the fastest CAGR from 2021 to 2028 owing to high product demand due to its excellent healing capabilities in dry as well as wet conditions.
Alginate Regional Outlook
- North America
- Asia Pacific
- Central & South America
- Middle East & Africa (MEA)
Key Companies Profile & Market Share Insights
The industry is highly competitive with the presence of a large number of product manufacturers. A significant consumer base and abundant availability of raw material in the Asia Pacific region are responsible for the maximum number of manufacturers and higher product consumption in the region.
Some prominent players in the global alginate market include
- Marine Biopolymers Limited
- DuPont de Nemours, Inc.
- Ingredients Solutions, Inc.
- Shandong Jiejing Group Corporation
Order a free sample PDF of the Alginate Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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