Alginate Market Size, Share & Trends Report

Alginate Market Size, Share & Trends Analysis Report By Type (High M, High G), By Product (Sodium Alginate, Propylene Glycol Alginate), By Application (Industrial, Pharmaceutical), And Segment Forecasts, 2020 - 2027

  • Published Date: Sep, 2020
  • Base Year for Estimate: 2019
  • Report ID: GVR-2-68038-244-0
  • Format: Electronic (PDF)
  • Historical Data: 2016 - 2018
  • Number of Pages: 120

Report Overview

The global alginate market size was valued at USD 706.9 million in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 4.7% from 2020 to 2027. Increasing demand for alginate in the food industry owing to its robust gelling properties is expected to augment the market growth. Alginate finds numerous applications in the healthcare industry owing to its biocompatibility and ease of gelation. The product is widely used in the development of wound dressing on account of its porous structure and high water absorption capacity. In addition, it finds considerable application in the food and beverage industry owing to its strong thickening, gelling, and film-forming properties. The U.S is one of the major markets for alginates globally owing to high product penetration across the pharmaceutical industry. The wound care market in the country is fairly developed and characterized by high usage of advanced wound care products, including alginates.

U.S. alginate market size

The increasing use of sodium and calcium alginate fibers for wound care is anticipated to drive the market over the forecast period. The use of the product in the food and beverage industry is permitted by major regulatory agencies, including the FDA and European Commission, which is expected to have a positive impact on the product demand. The growth of the food and beverage industry, primarily in Asia Pacific, due to the expanding population, is expected to drive the product demand in the region. In addition, high product adoption in the application industries is expected to fuel market growth.

Companies in the market resort to the development of advanced product grades to attract consumers. Notable investments by the national governments and alginate manufacturing companies to boost the growth of seaweed processing are expected to benefit industry growth. However, high demand for seaweed for other applications, such as extraction of carrageenan gum, is expected to result in limited raw material availability.

Increasing product applications in the bakery and confectionery sector are projected to fuel the market growth over the forecast period. Mounting consumption of emulsifiers in salad dressings, peanut butter, chocolates, margarine, and frozen desserts is further anticipated to propel the product demand as an emulsifier in the coming years.

Type Insights

High G led the market and accounted for more than 52.0% share of the global revenue in 2019. High adoption of high G type alginate by food and beverage manufacturers on account of its excellent emulsion stabilization and superior gelling performance is contributing to the growth of the segment.

High M alginates are products with a higher percentage of mannuronic acid blocks. The product contains all three types of blocks, including MM, GG, and MG, with the performance influenced by the composition of the product. Differences in molecular appearance and structure affect the gel formation characteristics.

The difference in the properties of the product types is primarily due to the raw material used for production. Alginates with high M groups exhibit a flat ribbon-like structure, which is primarily responsible for the superior gelling properties of the product. The extent of type H blocks in the product determines the viscosity, which, in turn, determines the product usage for various applications.

The demand for high M type is expected to be driven by the product usage in the textile and paper manufacturing industries. In addition, the growing use of the product in the welding coatings due to superior binding properties is expected to benefit the segment growth over the forecast period.

Product Insights

Sodium alginate led the market and accounted for 41.3% share of the global volume in 2019 on account of its high utilization in preparing various food products, including sauces, dressings, whipped cream, and jellies. The product imparts superior stability to the dairy products, such as refined and dry cheese, and is used to prevent the cracking of icing on cakes and pastries.

The use of calcium alginate in the pharmaceutical industry accounts for a high consumption volume of the product. The demand for calcium alginate is likely to be driven by the rising use in wound care and wound dressing. In addition, calcium alginate fibers are used to accelerate wound healing and are primarily used for wounds that exhibit drainage or fluid excretion.

Potassium alginate is the potassium salt of alginic acid and it finds extensive application in the pharmaceutical industry on account of its superior thickening and stabilizing properties. The product is also used in nutritional and functional foods as it helps in reducing the blood sugar and body cholesterol.

Propylene glycol alginate is an ester of alginic acid and is widely used as a thickener, stabilizer, and emulsifier across various industries, including food, pharmaceutical, and personal care and cosmetics. As regards the food application segment, the product is approved as a food additive by the Food and Drug Administration (FDA) and finds use as an ingredient in various food preparations.

Application Insights

The industrial application segment led the market and accounted for 39.2% share of the overall revenue in 2019. The products are used in the welding industry as a binder to hold the wet mass formed by the addition of sodium silicate to welding coatings. The alginates used in welding rods aid in maintaining the shape of the coating on the welding rod during drying and baking. The product is primarily used in the cosmetics industry as a thickener as it offers additional properties, such as moisture retention, which is of primary importance to the cosmetics manufacturers.

The food and beverage application segment held the second-largest revenue share in the market in 2019. This is attributed to the high adoption of alginate as a thickening agent, stabilizer, and flavoring adjuvant due to superior product stability and performance across a wide temperature range.

Global alginate market share

The food industry has exhibited high consumption levels of alginate due to favorable regulations by the European and North American regulatory authorities and high application scope across bakery, confectionery, and convenience food manufacturing. In addition, the product finds extensive application in manufacturing ice creams as it aids in the reduction of the formation of ice crystals during freezing.

The use of the product in the pharmaceutical industry has witnessed significant growth due to intensive research and development activities undertaken by major pharmaceutical companies for the production of wound dressing. Various benefits offered by alginate, such as a reduction in healing time, are expected to fuel the segment growth.

Regional Insights

Asia Pacific dominated the market and accounted for a 36.58% share of the global volume in 2019 owing to high product adoption by food and beverage manufacturers. The presence of a large number of product manufacturers in countries, such as China and Japan, is expected to aid the low-cost product availability in the region, which, in turn, benefits the market growth.

The increasing application scope of alginate in various end-use industries, coupled with the rapid industrialization in the Asian countries, including China, India, and Thailand, is anticipated to drive the market over the next eight years. In addition, the presence of several paper manufacturers in the region is likely to drive the market due to the product’s widespread use in paper sizing applications.

The industry in Europe is characterized by the presence of major manufacturers, such as Algaia and Ceamsa, which are involved in the manufacturing of advanced products. The abundance of raw materials in Norway aids production. The price of the product in the region has been observed to be high due to the consumer demand for high purity and quality.

The increasing per capita healthcare spending in the form of health insurance has been one of the major trends impacting the U.S. market. The rising demand for convenience foods in the region is expected to drive the market over the forecast period. The market also benefits from the presence of various multinational food processing and manufacturing companies, resulting in an increased demand for alginates.

Key Companies & Market Share Insights

The market is highly competitive due to the presence of a large number of companies involved in product manufacturing. The market is characterized by the presence of a significant consumer base across the globe with the companies operating their businesses through dedicated distribution networks. Manufacturers are integrated into the harvesting of raw materials in a bid to minimize the cost of production. However, major manufacturers such as DuPont de Nemours, Inc. decentralize the production process and are intensively involved in the R&D of alginates while outsourcing the raw material procurement and product distribution. Some prominent players in the global alginate market include:

  • Algaia

  • Marine Biopolymers Limited (MBL)

  • DuPont de Nemours, Inc.

  • Ingredients Solutions, Inc.

  • KIMICA

  • IRO Alginate Industry Co., Ltd.

  • Ceamsa

  • Algae

  • SNAP Natural & Alginate Product Pvt. Ltd.

  • Shandong Jiejing Group Corporation

Alginate Market Report Scope

Report Attribute

Details

Market size value in 2020

USD 728.4 million

Revenue forecast in 2027

USD 1,018.6 million

Growth Rate

CAGR of 4.7% from 2020 to 2027 (Revenue-based)

Market demand in 2020

43,028.0 tons

Volume forecast in 2027

56,560.1 tons

Growth Rate

CAGR of 3.9% from 2020 to 2027

Base year for estimation

2019

Historical data

2016 - 2018

Forecast period

2020 - 2027

Quantitative units

Volume in tons, revenue in USD million, and CAGR from 2020 to 2027

Report coverage

Volume forecast, revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Type, product, application, region

Regional scope

North America; Europe; Asia Pacific; Central & South America; Middle East & Africa

Country scope

U.S.; Canada; Mexico; Germany; U.K.; France; Italy; Spain; China; India; Japan; South Korea; Brazil; South Africa; Saudi Arabia

Key companies profiled

Algaia; Marine Biopolymers Limited; DuPont de Nemours, Inc.; Ingredients Solutions, Inc.; KIMICA; IRO Alginate Industry Co., Ltd.

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Segments Covered in the Report

This report forecasts volume and revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2016 to 2027. For the purpose of this study, Grand View Research has segmented the global alginate market report on the basis of type, product, application, and region:

  • Type Outlook (Volume, Tons; Revenue, USD Million, 2016 - 2027)

    • High M

    • High G

  • Product Outlook (Volume, Tons; Revenue, USD Million, 2016 - 2027)

    • Sodium Alginate

    • Calcium Alginate

    • Potassium Alginate

    • Propylene Glycol Alginate

    • Others

  • Application Outlook (Volume, Tons; Revenue, USD Million, 2016 - 2027)

    • Food & Beverages

    • Pharmaceutical

    • Industrial

    • Others

  • Regional Outlook (Volume, Tons; Revenue, USD Million, 2016 - 2027)

    • North America

      • U.S.

      • Canada

      • Mexico

    • Europe

      • Germany

      • U.K.

      • France

      • Italy

      • Spain

    • Asia Pacific

      • China

      • India

      • Japan

      • South Korea

    • Central & South America

      • Brazil

    • Middle East & Africa

      • South Africa

      • Saudi Arabia

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