Global Alginate Market, By Salt Type (Propylene Glycol Alginate, Magnesium, Lithium, Ammonium Alginate, Calcium Alginate, Potassium Alginate, Sodium Alginate), Type (High M, High G), End Use (Leisure Industry, Technical Industry, Textile and Paper Industry, Art and Crafts, Cosmetics, Pharmaceuticals, Food Industry), Functional Use (Foaming and Emulsifying Agent, Stabilizer, Coating, Adhesive, Gelling Agent, Thickening Agent, Moisture Retainer) – Industry Trends and Forecast to 2029.
Global Alginate Market Analysis and Size
The increasing consumer preference for food and cosmetics produced from natural and healthy ingredients has largely boosted the alginate demand across the globe. Moreover, the extensive adoption of alginate due to their usage across various end uses is driving vendors to increase their geographic presence, boosting the alginate market's expansion. These growth determinants have further helped the market to gain growth.
- Global Alginate Market was valued at USD 390.78 million in 2021 and is expected to reach USD 556.8 million by 2029, registering a CAGR of 4.5% during the forecast period of 2022-2029. The "calcium alginate" accounts for the largest salt type segment in the alginate market, due to its extensive adoption in wound dressings. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, patent analysis and consumer behaviour.
Global Alginate Market Definition
Alginate is an ionic polymer found in brown algal cell walls that binds to water and produces a sticky gum. Mixed alginic acid salts, which are the principal raw materials utilized in product manufacturing, are found in brown seaweed. It ranges in colour from white to yellowish brown. It's commonly sold in granular and filament form. The substance is believed to be easily absorbed in water, making it a helpful ingredient in slimming aids and dehydration solutions for textile and paper manufacturing. The product is a colloidal material made from natural seaweed that is mostly utilized in processed goods.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2019 - 2014)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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By Salt Type (Propylene Glycol Alginate, Magnesium, Lithium, Ammonium Alginate, Calcium Alginate, Potassium Alginate, Sodium Alginate), Type (High M, High G), End Use (Leisure Industry, Technical Industry, Textile and Paper Industry, Art and Crafts, Cosmetics, Pharmaceuticals, Food Industry), Functional Use (Foaming and Emulsifying Agent, Stabilizer, Coating, Adhesive, Gelling Agent, Thickening Agent, Moisture Retainer)
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Countries Covered
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U.S., Canada, Mexico, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa
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Market Players Covered
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DuPont (U.S.), KIMICA (U.S.), Qingdao Rongde Seaweed Co., Ltd. (China), Prestige Consumer Healthcare Inc. (U.S.)., Cargill, Incorporated (U.S.), Shandong Jiejing Group (China), Prinova Group LLC (U.K), Algaia (France), CEAMSA (Spain), CP Kelco U.S., Inc. (U.S.), Ingredients Solutions, Inc. (U.S.), Snapalginate (India), IRO Alginate Industry Co., Ltd (China) and A2 Trading GmbH (Germany)
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Market Opportunities
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Alginate Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
Drivers
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Increased Usage in Applications
Alginates are becoming highly popular as they are the commonly used thickening and gelling agents across various end users. Increased demand for sweetened confectionery goods has directly impacted gelling agent sales around the world. The utilization of alginates across textile industry for printing, designing and dyeing on cotton and jute fabrics also acts as a market driver. They are also employed in personal care products, there is a high demand for them on the market. The increased usage of the alginates is anticipated to be the most significant factor driving the growth for this market.
The major element driving the market's growth is the raising awareness among end-users. Additionally, the continuous growth and innovation and beverage owing to the benefits is estimated to bolster the market's overall growth. Furthermore, the increased recognition of its multifunctional properties as it enhances the texture of food recipes and is used as thickening and gelling agent, emulsifier, and stabilizer, further increasing the demand for organic and premium products fuels the market growth. Growing demand for convenience foods, dairy and processed meat products also cushions the market's growth within the forecasted period.
Opportunities
- Investments and Emerging Markets
The increased investments by manufacturers in procurement technology are estimated to generate lucrative opportunities for the market, further expanding the alginate market's growth rate in the future. Additionally, the growing product innovations and emerging markets such as China, Japan, India, and Brazil will also offer numerous growth opportunities.
Restraints/Challenges Global Alginate Market
- High Cost
The increasing prices of alginates is expected to obstruct market growth.
- Seasonal Changes and Dearth of Transparency
Also, the vulnerability to seasonal changes restricts raw material production restricts the market. Moreover, lack of transparency and market information will pose as a challenge for the market growth over the forecast period.
This alginate market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the alginate market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Post COVID-19 Impact on Alginate Market
COVID-19 is an unprecedented global public health crisis that has largely impacted every industry. Its long-term repercussions are expected to influence industry growth during the forecast period. Though the pandemic had a little impact on the food and beverage industry's operations compared to other industries, the industry's worldwide supply chain was severely impacted, limiting the industry's expansion. The alginate market was also adversely impacted by the outbreak of COVID-19. The various restrictions and lockdown measures resulted in closure of various industries, which have immensely harmed production across the globe and led to emergence of various challenges such as halt of various operations, stifling business growth, suspended activities as well as trade uncertainty and hampered worldwide supply chains and production activity, delivery timetables, and the selling of various products. Moreover, the consumer shift has a negative impact on consumer purchasing behavior.
The alginates are however available in-store and online. The in-store segment saw some losses owing to closure and directions not to move outside to mitigate the COVID19 effect, but, the online market seeing increased growth. Additionally, the situation is improving owing to decline in COVID cases worldwide and the market is picking up speed and will expand throughout the projection period. Therefore, the market is estimated to grow at a substantial pace post COVID-19.
Global Alginate Market Scope
The alginate market is segmented on the basis of salt type, type, end use and functional use. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Salt Type
- Propylene Glycol Alginate
- Magnesium
- Lithium
- Ammonium Alginate
- Calcium Alginate
- Potassium Alginate
- Sodium Alginate
On the basis of salt type, the alginate market is segmented into propylene glycol alginate, magnesium, lithium, ammonium alginate, calcium alginate, potassium alginate and sodium alginate. The calcium alginate segment is projected to register largest market share due to its extensive adoption in wound dressings.
Type
- High M
- High G
On the basis of type, the alginate market is segmented into high M and high G.
End Use
- Leisure Industry
- Technical Industry
- Textile and Paper Industry
- Art and Crafts
- Cosmetics
- Pharmaceuticals
- Food Industry
On the basis of end use, the alginate market is segmented into leisure industry, technical industry, textile and paper industry, art and crafts, cosmetics, pharmaceuticals and food industry.
Functional Use
- Foaming and Emulsifying Agent
- Stabilizer
- Coating
- Adhesive
- Gelling Agent
- Thickening Agent
- Moisture Retainer
On the basis of functional use, the alginate market is segmented into foaming and emulsifying agent, stabilizer, coating, adhesive, gelling agent, thickening agent and moisture retainer.
Alginate Market Regional Analysis/Insights
The alginate market is analyzed and market size insights and trends are provided by country, salt type, type, end use and functional use as referenced above.
The countries covered in the alginate market report are U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa(MEA) as a part of Middle East and Africa(MEA).
North America dominates the alginate market because of the high demand for alginates owing to increasing demand in food and beverages as well as in personal care products within the region.
Asia-Pacific is expected to witness significant growth during the forecast period of 2022 to 2029 due to the developing economy and improved procurement practices in China, India, and Japan's emerging markets.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Alginate Market Share Analysis
The alginate market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to alginate market.
Some of the major players operating in the alginate market are
- DuPont (U.S.)
- KIMICA (U.S.)
- Qingdao Rongde Seaweed Co., Ltd. (China)
- Prestige Consumer Healthcare Inc. (U.S.)
- Cargill, Incorporated (U.S.)
- Shandong Jiejing Group (China)
- Prinova Group LLC (U.K)
- Algaia (France)
- CEAMSA (Spain)
- CP Kelco U.S., Inc. (U.S.)
- Ingredients Solutions, Inc. (U.S.)
- Snapalginate (India)
- IRO Alginate Industry Co., Ltd (China)
- A2 Trading GmbH (Germany)
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