Home > Pressrelease > Alginate Market size to exceed $755mn by 2027
Alginate Market size to exceed $755mn by 2027
- Published Date: August 31, 2021
Alginate market size is set to surpass USD 755 million by 2027, according to a new research report by Global Market Insights Inc.
Alginates are natural compounds derived from brown seaweed and certain bacteria such as Azotobacter & Pseudomonas. They are primarily derivatives of alginic acid but also include the acid itself. Alginates are preferred additives in various food, pharmaceutical, and industrial products, majorly owing to the excellent stabilizing, viscosity & gelation properties they confer to the end products. They offer the unique ability of retaining 200-300 times their own weight in water, making them natural gelling substances.
The excellent gelling property of High G Alginate should drive product demand
The global high G alginate market size is set to surpass USD 275 million by 2027. Alginates consisting of a high G content have a lower M/G ratio and produce a stronger gel. Moreover, they are known to interact with glycoproteins in the body to increase the excretion of fatty acids, enhancing weight management.
Capsules containing high G products exhibit improved adhesion to abdominal organs and are denser. Alginates witness increasing adoption for the production of gel capsules for drug delivery systems. Technological advancements in the pharmaceutical sector and the increasing healthcare spending should boost high G alginate industry expansion.
Growing adoption of Propylene Glycol Alginate (PGA) as a beer stabilizer should drive the product demand
(PGA) propylene glycol alginate market exceeded USD 205 million in 2020 and is set to record a significant CAGR over the predicted period. It offers excellent swelling, stabilizing, thickening, emulsifying, and acid resistance properties along with high lipophilicity & hydrophilicity. These benefits make PGA an ideal stabilizer for acid protein beverages such as beer and ready-to-drink beverages.
Rising disposable income, urbanization, and increasing consumption of alcoholic drinks, particularly in emerging economies including India, Mexico, and Brazil should drive the demand for beer and stimulate the PGA market share. Also, increasing consumer health awareness and growing demand for convenience food & beverages should stimulate the ready-to-drink beverage industry and boost product demand.
Browse key industry insights spread across 220 pages with 306 market data tables and 17 figures & charts from the report, “Alginate Market Statistics By Type (High M, High G), By Product (Sodium, Calcium, Potassium, Propylene Glycol), By Application (Food & Beverage [Baking, Confectionery, Dairy Products, Meat Products], Medical & Pharmaceutical, Cosmetic, textile, Pulp & Paper), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027” in detail along with the table of contents:
Growing demand for advanced wound dressings should stimulate the alginate industry growth from medical & pharmaceutical applications
Global Alginate market size from medical & pharmaceutical applications is set to record over 3.5% CAGR between 2021 and 2027. Alginates find widespread usage in wound & burn care, hypertension treatment, drugs to lower cholesterol levels, radiation exposure treatment, and as biological substrates. They are used in wound dressings, particularly to treat surgical wounds pertaining to their ease-of-use and high calcium & sodium content.
Growing spending on research & development, rise in the elderly population segment, and increasing incidence of chronic diseases such as cardiovascular diseases, diabetes, and obesity will drive the pharmaceutical sector and augment product demand. The growing adoption of surgical procedures and increasing prevalence of wounds have increased the requirement for advanced wound dressings, triggering product adoption.
The well-established industrial sector in Asia Pacific to stimulate regional alginate demand
Asia Pacific alginate market demand is expected to surpass USD 170 million by 2027 pertaining to the well-established industrial sector and significant expansion of the food & beverage industry. China is among the leading textile hubs globally and the domestic market is predicted to witness a substantial growth owing to rising population, changing consumption patterns, cheap labor availability, and low production cost.
Leading alginate companies are primarily focusing their efforts on strategic initiatives such as mergers, acquisitions, partnerships, and joint ventures to expand their product portfolio, collaborating on product development and widening the application potential of alginates. Major market players include JRS, Ingredient Solutions, Kimica Corporation, Algaia, Ceamsa, Marine Biopolymers, and Algea.