(EnergyIndustry.Net, March 20, 2020 ) Market Overview The Global Alginate Market is expected to grow at a CAGR of 4.8% during the forecasting period (2019-2026). Alginate or alginic acid is an anionic polysaccharide apportioned widely in the cell walls of brown algae, that binds with water to form a viscous gum. Brown seaweed contains mixed alginic acid salts, which are the basic raw materials used in the manufacturing of the product. Its color ranges from white to yellowish-brown. The Alginate market is segmented into product type, application, and end-users. The geography part is segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. Globally, Asia-Pacific is the largest growing market for Alginate with more expected growth in the forecasting period. Therefore safe, a natural property of alginate followed and use of alginate as in bakery foods, which is the fastest-growing food item is set to drive the growth of alginate.
Market Dynamics The natural property of alginate and extensive use of alginate in different end-user industries In the Food and beverage industry alginates acts as a natural food additive that has a natural thickening agent, gelling agent, stabilizer, emulsifier, and film-forming properties. Food and beverage manufacturers primarily used alginate as a thickening agent and texture improver. Moreover FAO and WHO have certified alginate as the safest additive in the food industry. Over the last decades, alginates, a natural multifunctional polymer, have increasingly drawn attention as attractive compounds in the biomedical and pharmaceutical fields due to their unique physicochemical properties and versatile biological activities. Alginic acid is compounded into tablets to accelerate tablet disintegration for a faster release of the medicinal component. While Alginate forms a gel in the highly-acidic stomach and protects the stomach mucosa. These products are used as a substrate of color paste when applying patterns to printed fabrics, towels, scarfs, and more. For printing of cotton, jute, and rayon, alginate is mandatory. Also, alginate and derivatives act as binder agents for fish feed, and pet food as well. The broad and robust end-user industries followed by natural, safe and environmentally friendly properties of the product act as drivers to the alginates industry.
Market Segmentation Alginates are extracts derived from certain Brown Seaweeds, commonly found in the northern Atlantic and Pacific Oceans and off the coast of California down through Chile. Through the extraction and refining process alginic acid is converted to commercially functional Sodium Alginates. Sodium Alginates are used to produce heat-stable gels and to generate viscosity in a variety of fabricated foods, heat-stable fruit fillings, and cheese sauces. Alginate has excellent functionality as a thickening agent, gelling agent, emulsifier, stabilizer, texture-improver (for noodles), by improving the quality of food. Nowadays, based on its unique properties, alginate is added to numerous kinds of food, such as ice cream, jelly, acid milk drinks, dressings, instant noodles, beer, and more. FAO/WHO has certifies alginate in food applications as one of the safest food additives. Therefore safe, a natural property of alginate followed and use of alginate as in bakery foods, which is the fastest-growing food item is set to drive the growth of alginate. For instance, the fast-developing economy such as India's food and beverage industry is witnessing rapid growth. Many global and domestic players have been pumping investments into this sector showcases the future bright prospects in the developing countries for the naturally derived food additives like alginates.
Geographical Analysis The food sector plays an essential role in the US economy, accounting for about 5percent of gross domestic product. According to an OrderNova is a bakery order management platform company, the average spending on bakery products for a U.S. household is expected to increase to $383.75 by 2021. Most of this spending will be on bread, with the second-most being cakes and cupcakes. Moreover, 60 to 70 million Americans experience some type of digestive health issue, and the number of Americans following a gluten-free diet has tripled over the past five years. As consumers increasingly shift towards healthier lifestyles, naturally derived food additives are expected to grow at an above-average annual rate. Whereas the chemical industry is one of the United States' largest manufacturing industries, serving both a sizable domestic market and an expanding global market. Also chemicals are the top exporting sectors of U.S. manufacturing. Therefore the prominent chemical industry will further boost the consumption of this product. Whereas United States is the largest market for biopharmaceuticals, accounting for around a third of the global market, and is the world leader in biopharmaceutical R&D. Therefore the well-established end-user industries in the U.S, shifting people and government interest towards natural safe food additives showcases the future bright prospects for alginate in the U.S.
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