Global Alginates And Derivatives Market Size, Share, Opportunities, And Trends By Type (Sodium Alginate, Calcium Alginate, Potassium Alginate, Propylene Glycol Alginate (PGA), Others), By Application (Food & Beverage, Pharmaceuticals And Biomedical, Personal Care And Cosmetics, Others), By Form (Powder, Liquid, Gel), And By Geography - Forecasts From 2024 To 2029

Alginates are known to be polysaccharides that are derived from marine algae and brown seaweeds, which include kelp. They are known for having a wide range of applications but are commonly used in the food processing industry as an emulsifier or emulsifier salt, firming agent, flavour enhancer or flavour adjuvant, formulation or processing aid, stabilizer or thickener, surface-active agent or texturizer. Alginates are also known to act as a protective barrier to reduce food spoilage and extend the effectiveness of the active ingredients on food products, making them a suitable component for edible coatings or films.

Introduction:

The global alginates and derivates market is expected to witness significant growth during the forecasted period of 2024-2029, due to factors such as the increasing demand for natural food ingredients, coupled with the increase in growth of the food and beverage industry globally.

Market Drivers:

• Rising demand for natural ingredients: The increase in the number of people who prefer natural and organic products is expected to increase, driving the alginates and derivatives market growth during the forecasted period. Alginates are well known to be used as food ingredients in the food and beverage sector due to properties such as thickening, gelling, and stabilizing of food products. It is suitable for confectionery and bakery products in the industry.  As per the CBI of the Ministry of Foreign Affairs, the European food supplements market was valued at an estimated US$38.1 billion in 2022 and is expected to increase at a CAGR of 7% to reach an estimated value of US$65.4 billion during the period 2023-2030. The increase in the growth of food supplements, which include ingredients such as alginates and derivates, will further drive the market growth during the forecasted period.

Another factor that drives the growth of the organic and natural ingredients demand in the market is the rise in health-conscious consumers. The increase in consumption of organic and natural food products can be linked to the increase in the number of health-conscious consumers in the market. It was stated that the European organic sector displayed an increase in demand for organic products, reaching a valuation estimate of €82 billion in 2022, which is an increase in growth of 12% from 2021. This increase in demand signifies the increase in the number of health-conscious consumers in the market, further driving the global alginates and derivatives market growth during the forecasted period.

• Growing food and beverage industry: Alginates and their derivates are well known to be used as food additives or ingredients in the food and beverage industry. Therefore, the food and beverage industry expansion will drive the global alginate and derivates market growth during the forecasted period. The increase in the growth of the food and beverage industry can also be linked to the increasing growth of the global population, influencing the growth in demand for food, and the growth of the urban population, influencing the increase in demand for convenience and processed food products in the market.

For instance, the Food and Drink Federation states that the food and beverage industry in the United Kingdom outputs an estimated £33 billion in value (growth of 8%), with a total turnover accounting for £128 billion and domestic sales value accounting for £113 billion in 2022.  It was also stated that the food and drink export value accounted for an estimated £25 billion in 2022, which accounted for a growth rate of 22.5%. This increase in the growth of the food and beverage industry will drive the global alginates and derivates market growth, due to the applications of alginates in food products as thickening, gelling, and stabilizing agents.

Key Players:

• KIMICA: A global leader known for manufacturing and supplying alginate, which is a natural polysaccharide extracted from seaweed, with a wide range of applications in the food and pharmaceutical industries.
• Cargill, Incorporated: One of the global leaders known for the production and distribution of food ingredients, agricultural solutions, and industrial products. They are also known for the production of alginate, with a manufacturing plant located in Lannilis, France.

Regional Analysis:

The Asia Pacific region is expected to witness significant growth in the alginates and derivatives market during the forecasted period of 2024-2029. The factors that affect the growth in the region are the increasing population growth, coupled with the growing food and beverage industry. Alginates are known for their applications in the food and beverage industry, which include thickening, gelling, and stabilizing properties, making them a suitable option for processed and convenience food products in the food and beverage industry. Therefore, the food and beverage industry expansion will assist in the regional alginates and derivatives market growth during the forecasted period. India and China are expected to lead the market, due to the large population size, further influencing the growth in demand for food in the region. As per the Ministry of Food Processing Industries, the gross value added in the food processing sector displayed an increase to reach Rs. 2.24 lakh crores in 2019-20, which is an increase from Rs. 1.34 lakh crores in 2014-15 with a CAGR of 10.8%.

The relevance of the increase in the value of the food processing sector signifies the increase in demand for food products in the market, further influenced by the increase in the population of the region.  The Asia Pacific region is the fastest-growing region in terms of population and economy. The UNFPA states that the Asia Pacific region is home to 60 percent of the global total population, which accounts for an estimated 4.3 billion people. It is expected to increase significantly during the forecasted period as well. The increase in population gives rise to an increase in demand for food products, further driving the regional alginates and derivatives market growth during the forecasted period.

Segmentation:

• By Type:
  • Sodium Alginate
  • Calcium Alginate
  • Potassium Alginate
  • Propylene Glycol Alginate (PGA)
  • Others
• By Application:
  • Food & Beverage
  • Pharmaceuticals and Biomedical
  • Personal Care and Cosmetics
  • Others
• By Form:
  • Powder
  • Liquid
  • Gel
• By Geography:
  • North America
    • United States
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Spain
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Others
  • Asia Pacific
    • Japan
    • China
    • India
    • South Korea
    • Taiwan
    • Thailand
    • Indonesia
    • Others