Alginate Market 2028 – Industry Formulation And Data Visualization

San Francisco, California , USA, May 31, 2022 — /EPR Network/ —

Alginate Industry Overview

The global alginate market size was valued at USD 728.4 million in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 5.0% from 2021 to 2028.

The market is expected to witness significant growth owing to the increasing product demand in the food applications as a thickening agent, emulsifier, and gelling agent. Increased acceptance from the food industry and higher demand for natural ingredients are the key drivers for product demand. In addition, regulatory grants received from various organizations like the U.S. Food & Drug Administration (FDA) and the European Commission are expected to drive the growth of the global market. Globally, U.S. is one of the leading markets with high product penetration across the pharmaceutical application industry.

The wound care market in the country is considerably developed and uses alginate in several advanced wound care products. The use of calcium and sodium alginate fibers for wound care is also expected to augment the market over the forecast period. Brown seaweeds are the primary source of alginate. Durvillaea, Laminaria, Ascophyllum, Lessonia, Ecklonia, Sargassum, Turbinaria, and Macrocystis are the other commercial sources of the product. Ascophyllum, Laminaria, and Macrocystis are the most widely harvested species.

Gather more insights about the market drivers, restrains and growth of the Global Alginate Market

Countries like Norway, Chile, and China account for the high production of seaweed leading to the manufacturers setting the production units near the harvest areas. The higher cost involved in the drying of wet seaweed and the raw material supply-demand gap increases the procurement cost, which is reflected in the higher cost of finished products.

The product has a wide application scope in the pharmaceutical sector as it acts as a thickening agent, emulsion stabilizer, film-forming agent, and disintegrant for tablets. Growing product demand in the coating of tablets with low viscosity is expected to fuel the market growth. The market is constantly challenged by the volatile supply quantity of the seaweeds owing to unsustainable production techniques, which may hinder overall growth to some extent.

Browse through Grand View Research’s Nutraceuticals & Functional Foods industry Research Reports

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Market Share Insights

• October 2021: JRS Group, a leading manufacturer of functional additives from plant-based raw materials was approved by the European Commission (EC) as a suitable purchaser of the legacy DuPont N&H alginates business.
• October 2014: DuPont Launches Alginate Casings for Sausage Production.

Key Companies profiled:

Some of the prominent manufacturers in the global alginate market include:

• Algaia
• Marine Biopolymers Limited
• DuPont de Nemours, Inc.
• Ingredients Solutions, Inc.
• KIMICA
• Ceamsa
• Algea
• Shandong Jiejing Group Corporation

Order a free sample PDF of the Alginate Market Intelligence Study, published by Grand View Research.