Alginate Market Growth & Trends
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.
Increasing consumption of emulsifiers in salad dressing, chocolate, margarine, peanut butter, and several frozen desserts is also one of the key factors for the growing product demand in the food and beverage application. The product has a wide range of applications in the pharmaceutical sector as well owing to its stabilizing, emulsifying, and thickening properties. Increasing demand in tablet coating owing to lower viscosity and as a capsule disintegrant is expected to fuel the market growth. The Covid-19 pandemic has severely affected the major economies like U.S., Germany, France, Italy, and Brazil. Disruptions in the global supply chain owing to restrictions on the movement of goods have affected product consumption to a certain extent as the production is concentrated in few countries including China, Chile, and Norway.
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Alginate Market Report Highlights
The high G type segment dominated the market with a revenue share of over 52% in 2020 and is expected to maintain the leading position over the forecast period
These are guluronic acid blocks, which provide superior gelling performance in food and beverage applications
The U.S. emerged as one of the major markets at the global level owing to higher product penetration in pharmaceutical applications
The wound care market is fairly developed in the country with high usage of advanced wound care products consisting of alginates and hence driving its demand
In August 2019, the nutrition & biosciences business unit of DuPont de Nemours, Inc. launched Dimodan NG 100 emulsifier
It was marketed as a replacement for hydrated monoglycerides to overcome their disadvantages as they are slippery and could lead to accidents. Moreover, their consistency made it difficult to remove the product out of the bag, leading to wastage
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