This report analyzes the alginates & derivatives market, in terms of region, type, and application.
The global market is dominated by North America and Europe. Developing countries are emerging as leading exporters of alginates to the North American and European regions. The Asia-Pacific region is one of the prominent producers and exporters of alginates. This region is projected to grow at the highest CAGR of 5.6% from 2014 to 2019. The growing demand for convenience foods, dairy and processed meat products in the Asia-Pacific region drives the alginates & derivatives market.
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Globally, the alginates & derivatives market is driven by growing demand for sodium alginate, which is used in various industrial applications such as textile, paper, ceramics, cosmetics, pharmaceuticals, along with the food & beverage industry.
The geographical and application-wise split was determined using secondary sources and verified through primary respondents. Demand in different regions was considered while estimating the market share of the different regions in the market. The market estimation was also based on various parameters, such as the number of players, demand trends, supply trends, and the extent of research activity in a particular region. The global alginates & derivatives market is projected to reach a value of $409.2 million by 2019 growing at a CAGR of 3.8% from 2014 to 2019.
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