Alginates Market size is estimated to reach USD 15 Billion by the end of 2035, growing at a CAGR of 6% during the forecast period i.e., 2023-2035. In the year 2022, the industry size of alginates was over USD 900 Million.The rising consumption of ice-creams and yogurt is boosting the market expansion. Alginate can be a healthy substitute for starch and gelatin, which are used as stabilizers in ice creams & yogurt.
Moreover, with rising awareness of bio-based products and sustainable ingredients, the demand for alginates is also increasing. Alginates are extracted from seaweeds and are highly preferred as a replacement for synthetic additives.
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Base Year |
2022 |
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Forecast Year |
2023-2035 |
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CAGR |
~ 6% |
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Base Year Market Size (2022) |
~ USD 900 Million |
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Forecast Year Market Size (2035) |
~ USD 15 Billion |
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Regional Scope |
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Growth Drivers
Challenges
Product (Food, Technical, Pharmaceutical, Feed Grade Alginates)
The pharmaceutical feed grade segment in the alginates market is poised to gain the largest revenue share of about 45% in the year 2035. The various application of pharmaceutical grade in the pharma industry is expected to augment the segment growth.
Pharmaceutical-grade alginates are highly used in wound dressing, as they form a gel-like matrix that helps in maintaining the moisture around the wound and expedites the healing process. Besides this, the alginates are fused with the formulation of drugs to enable the sustained release of the drug over an extended period.
Application (Food Additives, Pharmaceutical & Medical Devices, Paper & Pulp, Personal Care & Cosmetics, Textiles, Animal Feeds)
The food additives segment is expected to garner around 46% market share by 2035. Alginates are widely used in the food industry, as they themselves are the group of food additives that are derived from brown seaweeds.
Additionally, the use of alginates in the food sector complies with the regulatory guidelines of the food industry, since they are considered safe by regulatory authorities when used at controlled levels.
Our in-depth analysis of the global market includes the following segments:
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Product |
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Application |
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APAC Market Statistics
Asia Pacific is predicted to have the greatest alginates market share of more than 36% by 2035, out of all other regions. With developing healthcare infrastructure and rising cases of chronic diseases, there has been a greater emphasis on advanced wound management and drug delivery systems in countries such as India and China, owing to which the region's need for alginates is increasing significantly.
Despite being highly preventable, cardiovascular disease (CVD) remains the leading cause of mortality in Asia-Pacific, it was projected to be the cause of 9.4 million deaths in the region.
North American Market Forecast
The North American alginates market share is anticipated to cross 25% by the end of 2035. Rising consumption of ice cream and yogurt in both regular and low-fat categories is majorly driving the market growth in the region. In 2021, ice cream manufacturers in the United States produced over one billion gallons of ice cream.
Alginates reduce the size of ice crystals in ice creams and yogurt thus giving it a creamier texture without the use of other chemicals, this also makes alginates highly popular in low-fat products. Organic low-fat yogurt is predicted to account for 47% of the overall U.S. low-fat yogurt market in 2025.
Author Credits: Anil Kumar, Ipsheeta Dash
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