Market Overview:

The market value of alginates was estimated at US$ 379 million in 2019 and is expected to increase at a CAGR rate of 4.1% to US$ 458 million by 2024. The rising food demand is expected to boost business performance due to increased use of alginates as ice, wine and yoghurt. Major government organizations, including the FDA and the European Commission, which promote supplies, allow the use of this product in the food and beverage sector. In addition, high brand acceptance among application companies should lead to further development.

Market Drivers and Restraints:

The main drivers of the market that affect the demand for alginate are food and beverage manufacturers due to its stabilizing, thickening, gelling and emulsifying properties. The reason for the growing demand in the food and vegetable industry is the recovery of natural algae, which is considered to be the safest food additive in the food industry and also certified by WHO and FAO. Besides, there is higher demand in the textile industry for printing, design and dying products for cotton and jute fabrics.

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Report segmented as

By Type:

Sodium Alginate,
Calcium Alginate,
Potassium Alginate,
PGA
By Application:

Food & Beverage,
Industrial,
Pharmaceuticals
Geographical Analysis:

Business in Europe is determined by the existence of major companies such as Algaia and Ceamsa. A wealth of raw materials is compatible with Chile and Norway. The prices of the item in the region were astronomical due to the high cleaning and quality requirements of the customers. Europe and the Asia-Pacific region contribute the most significant part of the revenue share to the world market. In terms of value, Europe and North America are likely to represent the majority soon, both in terms of cost and opportunities.

In the Asia-Pacific region, annual alginate consumption is expected to increase by 5.9% as the apparel, food and beverage sectors advance rapidly. Currently, the penetration of consumers in the pharmaceutical industry in the region is limited as it is low in developing countries. However, this creates an opportunity for commercial expansion, which is expected in the forecast period to increase demand in the alginate market.

Important Market Players:

Leading Key Players Involved in this research report are: Ashland Inc, Cargill Inc, Brenntag AG, FMC Corporation Dastech International Inc, Dohler Group, E.I. Kimica Corporation Dow Chemical Company, Penford Corporation, DuPont de Nemours Corporation are major companies having leading importance in present market.

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The Scope of the report:

This report offers the current product and services market evaluation and the future estimation of the market. It helps us understand the market better through size anticipation and CAGR calculation to estimate the next market. It has a broader segmentation for better understanding of the enterprising of the market at a low level by segregating the market into smaller sectors.

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