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Alginate Market

The Alginate Market size was valued at USD 900 Million in 2020, expanding at a CAGR of 5.0% over the forecast period. The market is expected to witness a significant growth because of the growing demand for alginate in food applications as an emulsifier and gelling agent.

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Alginate Market Dynamics

The increasing inclination of consumers towards sweetened fast-food made of alginate is one of the major factors fuelling the alginate market growth. Instead of using conventional gelling and thickening agents, the sales of alginates have increased substantially. For example, as per the Life Science Informatics Publication, nearly 30,000 metric tons of alginate were used as an emulsifies across several applications. Alginates are increasingly used in personal care products.

The remarkable initiatives by the leading players and research and development activities have encouraged the alginate market growth. For instance, French biomarine group Algaia, in 2018, officially declared the expansion of their production capacity with investments in marine ingredients and seaweed extracts. In addition, surging demand from the medical and pharmaceutical industries has propelled the market growth. However, the high-cost cultivation of brown sea weeds, is a factor likely to restrain the alginate market share.

Product Segment Analysis

By product, the propylene glycol segment is expected to hold a larger share in the market over the forecast period. Propylene glycol is an ester, used across different applications like stabilizers, emulsifiers, and thickeners in pharmaceuticals, food, personal care and cosmetics, which has acted as driving factor for the market. In addition, FDA approvals for propylene glycol will fuel the market growth. For instance, Evomela is FDA approved propylene glycol used to treat multiple myeloma.

Market Segmentation
Alginate Market by Component
  • Hardware
  • Software
  • Services
Alginate Market by Application
  • Parking
  • Sports & Entertainment
  • Transportation
  • Others
Smart Glass Market by Region:
  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of APAC
  • North America
    • United States of America
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Rest of Europe
  • RoW
    • Brazil
    • South Africa
    • Saudi Arabia
    • UAE

About GMI Research

GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

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