Alginates & Derivatives Market

The market is expected to reach USD XX million by 2023 from USD XX million in 2018, witnessing a CAGR of XX% during the forecast period. Alginates and derivatives are widely used as thickening agents, gelling agents, emulsifiers, stabilizers, texture-improvers (specially for noodles) and lastly to improve the quality of food. As per the properties of alginates, they are also used in many food items such as ice creams, jelly, dressings, instant noodles, beer, lactic drinks and much more.

Market Dynamics

Alginates and derivatives market is mainly driven by the growing demand for natural food additives and rising demand from the textile industry. Alginate, a seaweed extract, is safer and easier to decompose than other substrates for textile printing and results in easier waste water disposable. These products are used for the substrate of color paste when applying patterns to printed fabrics, towel, scarfs, etc. Use of alginates is not limited to food, but its scope is wide in the textile industry, pharmaceutical, etc. For printing of cotton, jute, and rayon, alginate is mandatory. Alginate and derivatives act as binder agents for fish feed, and pet food as well. While the growing consumption of processed and convenience food add growth opportunities to the market, challenges related to the raw material production is identified as a major constraint.

Market Segmentation

There are various types of alginates and derivatives like sodium, calcium, potassium and PGA (propylene glycol alginate). 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. It is also used in indigestion tablets, and it has no distinguishable flavor. The global demand for sodium alginates is growing due to its various industrial applications such as paper textile, ceramics, pharmaceuticals, cosmetics, along with food & beverage industry. The food & beverage industry has a higher market share due to the rising consumption of processed and convenience foods. Even dairy products are on the rise, which leads to the alginates & derivatives market growth.

Regional Analysis

North America and Europe dominate the market. Emerging nations are rising as leading exporters of alginates to the North American and European countries. Asia-Pacific and South America are the fastest-growing markets due to the rise in consumption of processed and convenience foods in the region. Asia-Pacific is also one of the significant producers and exporters of alginates. This region is projected to grow at a CAGR of 6.5% during the forecast period of 2017-2022. In North America and Europe, alginates are particularly used in processed foods, sauces and dressings, dairy products, while in other countries, the industrial sector is the highest user of alginates. The pharmaceutical industry is still untapped in the developing countries as compared with the developed countries.

The key companies in the global alginate & derivatives market profiled are -

• Cargill, Inc.
• Ashland Inc
• Brenntag AG
• E.I. Dupont De Nemours and Company
• KIMICA
• QINGDAO GFURI
• Dastech International Inc.
• FMC
• Bright Moon Group
• Vishnu Gum & Chemicals

Key Deliverables in the Study

• Market analysis for the global alginates and derivatives market, with region-specific assessments and competition analysis on a global and regional scale.
• Market definition along with the identification of key drivers and restraints.
• Identification of factors instrumental in changing the market scenario, rising prospective opportunities, and identification of key companies that can influence this market on a regional scale.
• Extensively researched competitive landscape section with profiles of major companies, along with their market share.
• Identification and analysis of the macro and micro factors that affect the market on both, global and regional scales.
• A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
• A wide-ranging knowledge and insight about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market.
• Insights on the major countries/regions where this industry is growing and identify the regions that are still untapped.