Alginates and Derivatives Market by Type (Sodium Alginate, Calcium Alginate, Potassium Alginate, PGA), Application (Food & Beverages, Industrial, Pharmaceuticals), Form (Powder, Liquid, Gel Form) and Region - Global Forecast to 2028

Alginates and Derivatives Market by Type (Sodium Alginate, Calcium Alginate, Potassium Alginate, PGA), Application (Food & Beverages, Industrial, Pharmaceuticals), Form (Powder, Liquid, Gel Form) and Region - Global Forecast to 2028

The alginates and derivatives market is estimated at USD 494 million in 2023 and is projected to reach USD 651 million by 2028, at a CAGR of 5.7% from 2023 to 2028. Alginates and their derivatives possess unique functional properties, such as gelling, thickening, and stabilizing abilities. These properties make them valuable ingredients in various industries, including food, pharmaceuticals, and cosmetics, further contributing to their demand. The increasing awareness of environmental issues and sustainability is influencing consumer choices. Alginates, being derived from seaweed, a renewable resource, are perceived as more sustainable compared to some synthetic additives, adding to their appeal.

“Calcium alginate is gaining rapid popularity in the alginates and derivatives market across the globe and is forecasted to have the highest growth rate.”

As a key component in pharmaceutical formulations, calcium alginate serves various purposes. Its role in drug delivery systems, including controlled-release technologies, showcases its significance in the pharmaceutical industry. The biocompatibility and gelling capabilities of calcium alginate make it an attractive choice for encapsulating and delivering pharmaceutical agents. While the market for calcium alginate is flourishing, challenges such as sustainable sourcing, quality control, and competitive pricing remain focal points. Industry players are actively addressing these challenges to ensure a stable supply chain and meet the growing demand.

“By application, industrial form dominated the market for alginates and derivatives in value terms.”

Within the oil and gas industry, alginates prove to be indispensable in well stimulation processes. Specifically, they are employed to control fluid viscosity during hydraulic fracturing operations. As agents that assist in maintaining the desired viscosity of fluids, alginates contribute to the effectiveness of hydraulic fracturing, ensuring optimal conditions for extracting oil and gas from reservoirs. This highlights the versatility of alginates, extending their application beyond traditional industries into critical processes within the energy sector. Alginates demonstrate their versatility across diverse industries, serving as essential components in the paper manufacturing process, cosmetics, and the oil and gas sector. Their ability to enhance material properties, provide texture in cosmetic formulations, and contribute to industrial processes underscores the broad range of applications where alginates prove to be valuable and effective.

“Asia Pacific is projected to witness the highest growth rate during the forecast period.”

India's population by mid-2023 is estimated at 1.4286 billion, and 1.4257 billion for China according to the United Nations Population Fund's (UNFPA) ""State of World Population Report"". Asia Pacific's burgeoning population and changing dietary habits are propelling the demand for processed foods. Alginates, with their unique functional properties, are increasingly becoming indispensable in the food and beverage industry. From gelling agents in desserts to stabilizers in sauces, alginates contribute to product innovation and quality enhancement, driving their adoption in the region.

The break-up of the profile of primary participants in the alginates and derivatives market:

By Company: Tier 1: 17%, Tier 2: 50% and Tier 3: 33%

By Designation: C Level- 50%, and Manager Level– 50%.

By Region: North America – 17%, Europe – 16%, Asia Pacific – 50%, and RoW – 17%

Key Market Players

Key players operating in the alginates and derivatives market include Cargill Inc. (US), KIMICA Corporation (Japan), FMC Corporation (US), E.I. DuPont de Nemours and Company (US), and The Dow Chemical Company (UK). Other players include Brenntag AG (Germany), Döhler Group (Germany), Penford Corporation (US), Ashland Inc. (US), and Dastech International (US).

Research Coverage:

This research report categorizes the alginates and derivatives market by type (sodium alginate, calcium alginate, potassium alginate, pga, and others), application (food & beverages, industrial, pharmaceuticals, and other applications), form, and region (North America, Europe, Asia Pacific, and Rest of the World). The scope of the report covers detailed information regarding the major factors, such as drivers, restraints, challenges, and opportunities, influencing the growth of the alginates and derivatives market. A detailed analysis of the key industry players has been done to provide insights into their business overview, products, and services; key strategies; contracts, partnerships, and agreements. New product & service launches, mergers and acquisitions, and recent developments associated with the alginates and derivatives market. Competitive analysis of upcoming startups in the alginates and derivatives market ecosystem is covered in this report.

Reasons to buy this report:

The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall alginates and derivatives market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.

The report provides insights on the following pointers:

Analysis of key drivers (Growing Demand for Alginates & Derivatives in Textile Industry), restraints (Vulnerability to Seasonal Changes Restricts Raw Material Production), opportunities (Increasing Consumption of Convenience Food), and challenges (Increasing Prices of Alginates) influencing the growth of the alginates and derivatives market.

Product Development/Innovation: Detailed insights on research & development activities, and new product & service launches in the alginates and derivatives market.

Market Development: Comprehensive information about lucrative markets – the report analyses the alginates and derivatives market across varied regions.

Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the alginates and derivatives market.

Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players including Cargill Inc. (US), KIMICA Corporation (Japan), FMC Corporation (US), E.I. DuPont de Nemours and Company (US), and The Dow Chemical Company (UK). Other players include Brenntag AG (Germany), Döhler Group (Germany), Penford Corporation (US), Ashland Inc. (US), and Dastech International (US) among others in the alginates and derivatives market strategies.