Alginates Market Synopsis
Alginate is a group of anionic polysaccharides, which is naturally driven product, obtained from brown algae cell walls. These alginates can have application across pharmaceutical and biomedical sectors. Also, these products have applications in the food and beverages applications for their stabilizing and thickening properties, which expand its applications in the preparation of jams, marmalades, and jellies.
Huge demand for the sweetened confectionery products has resulted in sales of alginates and to drive the global market of alginates. Also, the conventional applications of alginates are as a thickening and gelling agent, are acting as a key driver for the growth of the alginates market. Further, the demand for potential thickeners and stabilizers owing to its robust availability, biodegradability, and comparatively low cost is benefiting the market of alginates globally.
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The Alginates found applications across personal care products. Growing demand for these products owing to largest population and increase in its demand is fuelling growth of the alginates market. Additionally, higher research and development (R&D) investments are expected to propel the growth of the global Alginates Market over the estimated timeframe, 2017 to 2023. Surge in investment by manufacturers is leading to launch of newer products and thus increases its availability. For instance, in May 2018, the rising application of alginates led to French biomarine group Algaia announced its expansion of their production and innovation capacity.
Competitive Analysis
Some of the major companies in the global Alginates Market include CP Kelco, Algaia, Ingredients Solutions Inc., Marine Biopolymers Limited, Danisco A/S, Dohler Group, FMC Corporation, IRO Alginate Industry Co., Ltd., Kimica Corporation, and SNAP Natural & Alginate Products Pvt Ltd.
The companies are trying to introduce the newer and most suitable products to be used in personal care and cosmetic industries. Thus, the newer products are estimated to drive the Alginates Market growth in the coming years.
Segmentation
The Alginates Market is segmented on source, function, and region.
Based on the source, the market is segmented into laminaria, ascophyllum, macrocystis, and others. Among these, the macrocystis segment is estimated to remain dominant in the market by the end of forecast period, owing to high potential of production volume coupled with expanding applications across several industries. However, laminaria segment is expected to display a high growth rate owing to higher consumption in Asia Pacific.
Based on the function, the market is segmented into thickener, stabilizer, emulsifier, acidity regulator, and others. Among these, the thickener segment is estimated to dominate the market on the back of high demand for thickeners from several end use industries and especially from food and beverages, personal care, and pharmaceuticals manufacturing. In addition, one of the potential applications of alginates as a stabilizer across cosmetics industry helping to account for higher share in the personal care products.
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Regional Analysis
Regionally, the Alginates Market is segmented into the Americas, Asia Pacific, Europe, and Middle East & Africa. Of these, the Americas are estimated to remain dominant in the global Alginates Market in the coming period owing to increase in food and beverages industries. Further, expanding cosmetics and personal care industries in the region is fuelling demand for the alginates and is likely to benefit the market. However, the market in Asia Pacific is estimated to expand at a most lucrative CAGR owing to rapidly industrializing area in the region. Additionally, increasing awareness about cleanliness and hygiene is expanding usage of personal care and hygiene products. This is estimated to offer most lucrative growth of the market in the region owing to largest population in the region coupled with higher consumption of these products. Also, expanding industries and robust adoption of personal care products is fuelling market growth.
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