Alginate Market Size, Share & Trends Report

Alginate Market Size, Share & Trends Analysis Report By Type (High M, High G), By Product (Sodium, Propylene Glycol), By Application (Pharmaceutical, Industrial), By Region, And Segment Forecasts, 2021 - 2028

  • Report ID: GVR-2-68038-244-0
  • Number of Pages: 154
  • Format: Electronic (PDF)

Research Methodology

A three-pronged approach was followed for deducing the alginate market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for alginate market to gather the most reliable and current information possible.

  • We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
  • We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
  • We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
  • We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
  • We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of alginate market data depending on the type of information we’re trying to uncover in our research.

  • Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

  • Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

  • Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

  • Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

  • Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

  • Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

  • This step also entails the finalization of the report scope and data representation pattern.

  • Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Alginate Market Categorization:

The alginate market was categorized into four segments, namely type (High M, High G), product (Sodium, Calcium, Potassium, Propylene Glycol), application (Food and Beverages, Pharmaceutical, Industrial), and regions (North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa).

Segment Market Methodology:

The alginate market was segmented into type, product, application, and region. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

  • Demand estimation of each product across countries/regions summed up to from the total market.

  • Variable analysis for demand forecast.

  • Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

  • Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

  • Used extensively for new product forecasting or analyzing penetration levels.

  • Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

  • Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

  • This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The alginate market was analyzed at a regional level. The globe was divided into North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into fifteen countries, namely, the U.S.; Canada; Mexico; the UK; Germany; France; Italy; Spain; China; India; Japan; South Korea; Brazil; Saudi Arabia; South Africa.

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Alginate market companies & financials:

The alginate market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

  • Algaia - Established in 2010 and based in Lannilis, France, Algaia is a leading manufacturer of marine-derived products and solutions. It caters to various industries including agro-nutrition, personal care, and pharmaceuticals, offering innovative solutions. The company’s product portfolio includes naturally sourced items like carrageenan, alginates, and specialized seaweed extracts. Algaia’s commitment to its environmental policy is evident in its manufacturing of seaweed-based products. The proximity of abundant seaweed to its manufacturing facilities is anticipated to fuel its growth in the future. In 2016, Algaia streamlined its operations by divesting its vanillin biotechnology business to Solvay SA. With operations in over 40 countries, Algaia has a significant global footprint.

  • Marine Biopolymers Limited (MBL) - Marine Biopolymers Limited (MBL), founded in 2009 and based in AYR, Scotland, is a manufacturer of naturally sourced products, including alginate derived from seaweed. The company’s alginates are utilized in various sectors such as food & beverage, pharmaceutical, and industrial applications. MBL’s unique manufacturing process, coupled with the close proximity of its production unit to seaweed resources, facilitates easy product sourcing. The company plans to implement its patented process for alginate production, which is expected to decrease manufacturing time and yield economies of scale. MBL has received substantial government aid, including monetary grants from agencies like Zero Waste Scotland (ZWS), bolstering its position in the alginate market. The company produces both High M and High G alginates, which serve as thickening and gelling agents in various industries. As of March 2019, MBL had a team of 6 employees.

  • DuPont de Nemours, Inc. - DuPont de Nemours, Inc., established in 1802 and based in Wilmington, U.S., is a global science and technology company. It operates through four segments: nutrition & biosciences, electronics & imaging, safety & construction, and transportation & advanced polymers. As of December 2018, the company employed 35,000 people. With manufacturing units in the U.S., Belgium, and China, DuPont has a global presence. Its product offerings encompass alginates, plastics, crop protection, dietary supplements, packaging materials & solutions, industrial biotechnology, and pigments, colorants, and dyes. The company’s major product lines include adhesives, animal nutrition, clean technologies, construction materials, consumer products, dietary supplements, and food & beverage ingredients, among others.

  • Ingredients Solutions, Inc. - Ingredients Solutions, Inc., established in 1992 and based in Maine, U.S., is a global supplier of alginate, leveraging its extensive distribution network. The company distributes a variety of products, including alginate, carrageenan, locust bean gum, pectin, tara gum, agar agar, gellan gum, and xanthan gum. Its products come with various certifications such as Organic-Allowed, Trans Fat-Free, Natural, and GMO- & Allergen-free. Sodium alginates, distributed under the trade name Nalgin, are primarily used in the food manufacturing industry and are Kosher & Halal certified. The company’s products, categorized based on their viscosities, vary in composition. As of the end of 2019, Ingredients Solutions, Inc. had a team of 12 employees.

  • KIMICA - Founded in 1941, KIMICA is a Tokyo-based company specializing in the production and sale of Marine Biopolymers, including alginates and chitosan. The company operates manufacturing plants in Japan (Chiba) and Chile (Paine), focusing on enhancing production efficiency and productivity through continuous research and development. KIMICA’s alginates are distributed domestically and internationally via direct and third-party networks. These alginates are utilized across various sectors such as food, textile printing, animal feed, pharmaceuticals, cosmetics, and welding. The company’s strategic global positioning allows it to source multiple seaweed species, enabling mass production tailored to client needs. As of 2019, KIMICA employed 173 individuals. The company’s commitment to innovation and quality has positioned it as a leader in the marine biopolymers industry. Its products, derived from a diverse range of seaweed species, meet the specific requirements of clients across various industries. This adaptability, coupled with a robust distribution network, ensures KIMICA’s products reach a wide market. KIMICA’s success lies in its ability to combine innovative research and development with efficient production processes and a strong distribution network. This approach has allowed the company to meet the diverse needs of its clients and maintain a strong position in the marine biopolymers market.

  • IRO Alginate Industry Co., Ltd. - IRO Alginate Industry Co., Ltd., established in 1995, is a China-based company specializing in the production of alginate products. The company operates a 60,000 square meter facility in Shandong, China, leveraging its geographic location for access to natural seaweed. As of 2019, the facility had an annual production capacity of 2,000 metric tons. In 2010, IRO Alginate collaborated with IRO Group, Inc., expanding its distribution to over 30 countries across North America, Asia, and Europe. The company offers a diverse product portfolio, with applications in the food, pharmaceutical, welding, paper, and textile industries. It also provides customized solutions, earning goodwill in both domestic and international markets. As of 2019, IRO Alginate employed 480 individuals. The company’s commitment to quality and customer satisfaction, combined with its robust distribution network and diverse product offerings, has positioned it as a leader in the alginate industry. Its ability to provide customized solutions further enhances its reputation and market reach. In summary, IRO Alginate’s success is built on its production capacity, product diversity, and strong customer relationships.

  • Ceamsa - Established in 1966, Ceamsa (Compañia Española de Algas Marinas) is a Spain-based company engaged in the production, development, and distribution of natural hydrocolloids worldwide. The company’s extensive market knowledge, gained through years of operation, has been instrumental in its success. Ceamsa places a high emphasis on Research & Development & Innovation, operating an integrated R&D&I center dedicated to manufacturing advanced product grades. This focus on innovation, coupled with financial aids and grants from the Spanish government, has led to the development of advanced products and an increase in the company’s overall revenue. With a global presence, Ceamsa’s products are used in various industries, including food, pharmaceutical, and cosmetics. The company’s commitment to quality and innovation has helped it maintain a strong position in the market. As of December 2019, Ceamsa employed 240 individuals. In summary, Ceamsa’s success is built on its commitment to innovation, quality, and customer satisfaction, underpinned by robust financial support and a global distribution network.

  • Algea - Algae, a seaweed processing company, was established in 1937 and is based in Kristiansund, Norway. The company’s location provides easy access to natural seaweed, making it a leading supplier of alginate products in Europe. Algae operates through four segments: algeafood solutions, algeafeed solutions, algeafert solutions, and algeaesthe solutions, catering to the food, feed, and pharmaceutical industries.

  • In 2002, Algae became part of Valagro Holding Srl, but continues to operate independently. The company is involved in the research and development of various seaweed products, which it supplies throughout Europe. Algae operates a single production unit in Norway that uses alginates to manufacture food products. As of December 2019, the company employed 40 individuals. In summary, Algae’s success is built on its strategic location, diverse product offerings, and commitment to research and development.

  • SNAP Natural & Alginate Product Pvt. Ltd. - SNAP Natural & Alginate Product Pvt. Ltd., established in 1979, is an India-based company specializing in the production of natural products like alginates and carrageenan. The company operates a single manufacturing facility spread over 12 acres. SNAP exports alginates to Europe and North America, ensuring that its products meet the minimum quality requirements across its distribution areas. The company’s agricultural products are distributed through its Bio Organic Technology division. SNAP manufactures potassium alginate, calcium alginate, alginic acid, and sodium alginate. These products find applications in various industries, including food, textiles, pharmaceuticals, and welding, and are distributed domestically through the company’s network. The company is involved in the research and development of alginates, led by a team of experienced professionals. It also customizes alginates to meet the diverse needs of its consumers. As of March 2019, SNAP employed 56 individuals. In summary, SNAP’s success is built on its commitment to quality, innovation, and customer satisfaction, supported by a robust domestic distribution network.

  • Shandong Jiejing Group Corporation - Founded in 1968, Shandong Jiejing Group Corporation is a China-based company specializing in the production and distribution of alginate. The company primarily produces sodium alginate from brown seaweed to enhance gel properties, along with potassium and propylene glycol alginate. The company’s operations are housed in a 500,000 square meter production facility, employing over 1,200 workers as of 2019. It also operates a research and development center dedicated to creating advanced alginate products to meet the demands of consumers in China, Europe, and North America. Shandong Jiejing Group Corporation is export-oriented, distributing approximately 70% to 80% of its products to markets in North America, Asia, South America, and Europe. The company places a strong emphasis on advertising, promoting its alginate products at trade fairs across its major markets. The company’s products are used in a variety of industries, including food, pharmaceuticals, textiles, and cosmetics. This wide range of applications demonstrates the versatility and utility of the alginate products produced by Shandong Jiejing Group Corporation. 

Value chain-based sizing & forecasting

Supply Side Estimates

  • Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

  • Segment revenue determination via variable analysis and penetration modeling.

  • Competitive benchmarking to identify market leaders and their collective revenue shares.

  • Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

  • Identifying parent markets and ancillary markets

  • Segment penetration analysis to obtain pertinent

  • revenue/volume

  • Heuristic forecasting with the help of subject matter experts

  • Forecasting via variable analysis

Alginate Market Report Objectives:

  • Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

  • Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

  • Understanding market estimates and forecasts (with the base year as 2020, historic information from 2017 to 2019, and forecast from 2021 to 2028). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Alginate Market Report Assumptions:

  • The report provides market value for the base year 2020 and a yearly forecast till 2028 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

  • The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

  • We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

  • All market estimates and forecasts have been validated through primary interviews with the key industry participants.

  • Inflation has not been accounted for to estimate and forecast the market.

  • Numbers may not add up due to rounding off.

  • Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

  • Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

  • Latin America includes Central American countries and the South American continent

  • Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

  • Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

  • Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.

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