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COVID-19 Impact On Alginates Market Forecast, Global Industry Size, Market Share, Trends, Analysis by 2023

Alginates Market Overview

Alginates are a group of viscous polysaccharides derived from brown seaweeds and produced as an extracellular matrix by some bacterial species. Traditionally, Alginates have been used as thickeners, emulsifiers and stabilising agents in a number of food applications. A number of new food applications are emerging for Alginates, based on their unique biochemical and    biophysical properties.

Western countries particularly the U.S., Canada, Mexico and Germany France have higher demand for Alginates. Rise in downstream market applications for Alginates from food and beverages, pharmaceuticals and other industrial applications are driving higher demand for Alginates.

Global Alginates Market Forecast are a biomaterial that has found numerous applications in biomedical science and engineering due to its favourable properties, including biocompatibility and ease of gelation. Alginates hydrogels have been particularly attractive in wound healing, drug delivery, and tissue engineering applications to date, as these gels retain structural similarity to the extracellular matrices in tissues and can be manipulated to play several critical roles.

Key Players:

  • CP Kelco,
  • Ingredients Solutions Inc.,
  • Cargill Foods,
  • L. Thomas & Co.,
  • TIC Gums,
  • Linyi Viho Chem Co., Ltd.,
  • Foodchem International Corporation,
  • Qingdao Tocean Chemical Co., Ltd, and
  • Kimica

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Competitive Analysis:

The Alginates market appears to be highly competitive and fragmented owing to the presence of several large and small key players accounting for a substantial market share. These key players compete based on pricing, and product innovation. Well established players incorporate acquisition, collaboration, partnership, expansion, and product in order to gain competitive advantage in this market and to maintain their market position.

Market Synopsis:

Alginate is used for substrate of colour paste when applying patterns to print fabrics, scarf, towel, etc. Use of alginate for printing of cotton, jute, rayon is mandatory. Alginate, a seaweed extract, is safer and easier to be decomposed compared with other substrate for textile printing, and gives easier waste water disposal.  Alginate is used for the production of welding rod, as a binder of flux. Alginate is used as a binder and thickening agent for pet-food, fish feed, etc.

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Regional Analysis:

North-America dominated the market for Alginates in terms of demand with the largest market share, accounting for astronomical amounts and is expected to grow further over its previous growth records by 2027; Asia-Pacific is the growing market for Alginates market and is expected to grow at a substantial CAGR from 2016 to 2027.

Europe and Asia Pacific regions being the largest producers of Alginates contribute majority of market share in global level market. In terms of value, it is expected that Europe and North America accounted for a major share in terms of value and also as a lucrative market in near future.

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