According to a research report “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″ published by MarketsandMarkets, 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 stand out for their exceptional functional properties, encompassing versatile applications in numerous industries. With remarkable abilities in gelling, thickening, and stabilizing, these substances have become indispensable ingredients in sectors ranging from food and pharmaceuticals to cosmetics. In the food industry, alginates play a key role in enhancing textures and stabilizing formulations, while in pharmaceuticals, they contribute to controlled-release formulations. Additionally, their versatility extends to cosmetics, where they act as natural thickeners, collectively driving demand across diverse industries.
The Europe region accounted for the largest share in 2022 in terms of value.
Europe’s overall economic stability plays a significant role in determining the trajectory of the alginates and derivatives market. As the region experiences economic fluctuations, consumer spending patterns may be affected, influencing the demand for products incorporating alginates. The interplay between disposable income and consumer preferences holds the potential to sway the market dynamics. Europe’s growing emphasis on health and wellness transcends individual consumer choices to impact market dynamics. The preference for natural and clean-label products aligns seamlessly with the properties of alginates. The market, therefore, responds to the evolving health-conscious mindset prevalent in the region, driving manufacturers to incorporate alginates in a diverse range of products.
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By type, sodium alginate accounted for the largest share in 2023 in terms of value in the alginates and derivatives market.
Sodium alginate stands out for its exceptional versatility and functional properties, making it a sought-after ingredient. Derived from brown seaweed, this natural polysaccharide possesses remarkable gelling, thickening, and stabilizing abilities. Beyond the culinary realm, sodium alginate finds applications in pharmaceuticals and textiles. In pharmaceuticals, it is utilized as a binder in tablet formulations and as a controlled-release agent. In the textile industry, sodium alginate serves as a thickening agent in printing pastes for textiles, facilitating color retention and ensuring uniform dye distribution. Its multifaceted applications, coupled with its natural origin and clean-label appeal, position sodium alginate as a pivotal ingredient in the formulation of modern, consumer-driven products.
Major players profiled
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). These players in this market are focusing on increasing their presence through expansion and collaboration. These companies have a strong presence in North America, Asia Pacific, and Europe.
Market Opportunities: Increasing Consumption of Convenience Food
The global demand for convenience food is increasing with the rising workloads and busy consumer lifestyles. The global demand for convenience foods has been influenced by increased female participation in the workforce, more use of microwaves, longer working hours, and rising consumer incomes. Alginates are one of the essential food additives in convenience and processed food products such as soups, cakes, pastries, bread, gravies, and snacks, which improve their quality, texture, and taste. Increasing consumer interest in processed food products is one of the significant factors stimulating the growth of the alginates market.
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Leading F&B manufacturers demand customized food additives that further enhance the quality of mouthfeel. This provides an opportunity for alginate manufacturers to provide specific products for specific applications. For instance, Ashland Inc. (US) offers alginates for dairy, confectionery, bakery, frozen foods, meat products, and beverages.
The increasing preference for low-calorie and low-fat foods favoring alginates has helped reduce overall fat content in foods; this trend is benefiting the alginates market. Alginates are used as binding agents in several convenience foods. Consumer demand for convenience food products that suit their lifestyles has been on the rise globally. Manufacturers continue to focus on convenience foods and beverages as one of the major potential segments for alginate application.
