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Alginates Market Segmentation by Product (Food, Pharmaceutical, Technical, and Feed Grade Alginates); by Application (Food Additives, Pharmaceutical & Medical Devices, Paper & Pulp, Personal Care & Cosmetics, Textile, Animal Feeds, and Others) – Global Demand Analysis & Opportunity Outlook 2021-2031

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Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

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Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

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IN THE NEWS

  • January 9th, 2017: Algaia announced that it has completed the acquisition of the Alginate business and manufacturing plant from Cargill.

  • November 27th, 2020: JRS Pharma announced that its VIVAPHARM alginates product line, which consists of three different alginate product categories, namely VIVAPHARM Sodium Alginate, VIVAPHARM Calcium Alginate, and VIVAPHARM Alginic Acid, are now available worldwide

Global Alginates Market Highlights Over 2021 - 2031

The global alginates market is estimated to garner a revenue of USD 1222.5 Million by the end of 2031 by growing at a CAGR of 4.63% over the forecast period, i.e., 2022 – 2031. Moreover, in the year 2021, the market registered a revenue of USD 784.6 Million. The growth of the market can be attributed to the rising production and exports of different types of fruits & vegetables worldwide, and therefore the need for protection of these products from microbes or viruses during the process of transportation of these goods from the producer’s end to the consumer’s end. According to the statistics by the Food & Agriculture Organization (FAO), the production of fruits and vegetables around the globe increased from 0.57 Billion Tonnes and 0.68 Billion Tonnes in the year 2000 to 0.88 Billion Tonnes and 1.13 Billion Tonnes in the year 2019. Alginates are used to coat fruits & vegetables and are also used as a gelling, stabilizing, emulsifying agent, and thickening agent in food factories. In the beverage industry, alginates are used for enhancing the texture of the drink. On the other hand, in the textile industry, these chemical compounds are used for printing, designing, and dyeing on cotton and jute fabrics. In addition to this, these compounds are used to resemble traditional meat cuts, such as roasts, nuggets, steaks, and loaves in the meat industry.

Alginates Market Graph

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The growth of the market can also be attributed to the rising consumption of plant-based products, backed by the rising awareness amongst individuals for transition vegetarian diet. Additionally, increasing advancements in the healthcare industry and the surge in use of alginates in the pharmaceutical industry are also projected to add to the market growth.

Global Alginates Market Regional Synopsis

Regionally, the global alginates market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in North America is anticipated to garner the largest revenue of USD 479.6 Million by the end of 2031, up from a revenue of USD 303.0 Million in the year 2021. One of the major factors anticipated to drive the growth of the market during the forecast period is the presence of highly developed pharmaceutical and food & beverages industries. Besides this, the growing healthcare spending in the region, along with the increasing awareness amongst individuals for high quality fruits and vegetables that are microbe and virus free are some of the additional factors projected to boost the market growth. According to the statistics by the World Bank, the current health expenditure as a share of GDP in North America, increased from 14.727% in the year 2008 to 16.322% in the year 2019.

On the other hand, the market in Europe is projected to garner the second-largest revenue of USD 325.1 Million by the end of 2031, up from a revenue of USD 215.5 Million in the year 2021. The market in the region is further segmented by country into Germany, United Kingdom, Italy, France, Spain, Russia, Netherlands, and the Rest of Europe. The market in Germany is projected to attain the second-largest revenue of USD 77.6 Million by the end of 2031, up from a revenue of USD 42.8 Million in the year 2021.

The study further incorporates Y-O-Y Growth, market opportunities, demand & supply and forecast future opportunity in North America (United States, Canada, Mexico), South America, Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX [Belgium, Netherlands, Luxembourg], NORDIC [Norway, Denmark, Sweden, Finland], Poland, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).

Growth Drivers and Challenges Impacting the Growth of the Global Alginates Market

Growth Drivers

  • Increasing Demand for Alginates in the End-Use Industries
  • Growing Consumption of Plant-Based Products

Challenges

  • Availability of Low-Cost Substitutes
  • High Cost Associated in Procuring Raw Materials

Global Alginates Market Segmentation Synopsis

The global alginates market is segmented by product into food, pharmaceutical, technical, and feed grade alginates. Out of these, the pharmaceutical grade alginates segment is anticipated to garner the largest revenue of USD 513.3 Million by the end of 2031, up from a revenue of USD 332.7 Million in the year 2021. The market is further segmented by application into food additives, pharmaceutical & medical devices, paper & pulp, personal care & cosmetics, textile, animal feeds, and others. Out of these, the pharmaceutical & medical devices segment is projected to display the largest revenue of USD 482.3 Million by the end of 2031, up from a revenue of USD 297.9 Million in the year 2021.

Key Companies Dominating the Market

Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global alginates market that are included in our report are Algaia, International Flavors & Fragrances Inc., Haiyang Zhouji Seaweed Co., Ltd., IRO Alginate Industry Co., Ltd., ZIBO WANGFEI SEAWEED TECH CO., LTD., FMC Corporation, QINGDAO GFURI SEAWEED INDUSTRIAL CO., LTD., SNP, Inc., Ashland Global Holdings Inc., KIMICA Corporation, Shandong Jiejing Group Corp., Marine Biopolymers Ltd., JRS Pharma LP, and others.

Key Reasons to Buy Our Report

  • The report covers detailed analysis comprising market share attained by each market segment and its sub-segments.
  • It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis and challenges that impact the market growth.
  • The report includes detailed company profiles of the major players dominating the market.
  • We use effective research methodologies to calculate the market numbers and provide value-added assessment for overall growth.
  • We provide customized reports as per the clients’ requirement helping them to see possible and unexpected challenges and unforeseen opportunities in order to help them reach their goal.

FREQUENTLY ASKED QUESTIONS

  1. Market Definition
    1. Definition
    2. Market Segmentation
  2. Assumptions and Acronyms
  3. Research Methodology
    1. Research Process
    2. Primary Research
    3. Secondary Research
  4. Executive Summary – Global Alginates Market
  5. Market Dynamics
    1. Market Drivers
    2. Market Trends
  6. Key Market Opportunities
  7. Major Roadblocks for the Market Growth
  8. Regulatory & Standards Landscape
  9. Industry Risk Analysis
  10. Value Chain Analysis
  11. Recent Technological Innovations in the Alginates Market
  12. Trade Outlook
    1. Import Analysis
    2. Export Analysis
  13. Impact of COVID-19 on the Global Alginates Market
    1. Impact on the Global Market
    2. Impact on the Demand
    3. Impact on the Supply Chain
    4. Impact on the End User Industry
    5. Impact on the Manufacturers
  14. Pricing Analysis
  15. End-User Analysis
  16. Competitive Positioning
    1. Competitive Landscape
      1. Market Share Analysis
      2. Competitive Benchmarking
        1. Algaia
        2. International Flavors & Fragrances Inc.
        3. Haiyang Zhouji Seaweed Co., Ltd.
        4. IRO Alginate Industry Co., Ltd.
        5. ZIBO WANGFEI SEAWEED TECH CO., LTD.
        6. FMC Corporation
        7. QINGDAO GFURI SEAWEED INDUSTRIAL CO., LTD.
        8. SNP, Inc.
        9. Ashland Global Holdings Inc.
        10. KIMICA Corporation
        11. Shandong Jiejing Group Corp.
        12. Marine Biopolymers Ltd.
        13. JRS Pharma LP
  17. Global Alginates Market, 2021-2031
    1. Market Overview
    2. By Value (USD Million)
    3. Market Segmentation
      1. By Product
        1. Food Grade Alginates, 2021-2031F (USD Million)
        2. Pharmaceutical Grade Alginates, 2021-2031F (USD Million)
        3. Technical Grade Alginates, 2021-2031F (USD Million)
        4. Feed Grade Alginates, 2021-2031F (USD Million)
      2. By Application
        1. Food Additives, 2021-2031F (USD Million)
        2. Pharmaceutical & Medical Devices, 2021-2031F (USD Million)
        3. Paper & Pulp, 2021-2031F (USD Million)
        4. Personal Care & Cosmetics, 2021-2031F (USD Million)
        5. Textile, 2021-2031F (USD Million)
        6. Animal Feed, 2021-2031F (USD Million)
        7. Others, 2021-2031F (USD Million)
      3. By Region
        1. North America, 2021-2031F (USD Million)
        2. Europe, 2021-2031F (USD Million)
        3. Asia Pacific, 2021-2031F (USD Million)
        4. Latin America, 2021-2031F (USD Million)
        5. Middle East & Africa, 2021-2031F (USD Million)
  18. North America Alginates Market, 2021-2031
    1. Market Overview
    2. By Value (USD Million)
    3. Market Segmentation
      1. By Product
        1. Food Grade Alginates, 2021-2031F (USD Million)
        2. Pharmaceutical Grade Alginates, 2021-2031F (USD Million)
        3. Technical Grade Alginates, 2021-2031F (USD Million)
        4. Feed Grade Alginates, 2021-2031F (USD Million)
      2. By Application
        1. Food Additives, 2021-2031F (USD Million)
        2. Pharmaceutical & Medical Devices, 2021-2031F (USD Million)
        3. Paper & Pulp, 2021-2031F (USD Million)
        4. Personal Care & Cosmetics, 2021-2031F (USD Million)
        5. Textile, 2021-2031F (USD Million)
        6. Animal Feed, 2021-2031F (USD Million)
        7. Others, 2021-2031F (USD Million)
      3. By Country
        1. United States, 2021-2031F (USD Million)
        2. Canada, 2021-2031F (USD Million)
  19. Europe Alginates Market, 2021-2031
    1. Market Overview
    2. By Value (USD Million)
    3. Market Segmentation
      1. By Product
      2. By Application
      3. By Country
        1. United Kingdom, 2021-2031F (USD Million)
        2. Germany, 2021-2031F (USD Million)
        3. Italy, 2021-2031F (USD Million)
        4. France, 2021-2031F (USD Million)
        5. Spain, 2021-2031F (USD Million)
        6. Russia, 2021-2031F (USD Million)
        7. Netherlands, 2021-2031F (USD Million)
        8. Rest of Europe, 2021-2031F (USD Million)
  20. Asia Pacific Alginates Market, 2021-2031
    1. Market Overview
    2. By Value (USD Million)
    3. Market Segmentation
      1. By Product
      2. By Application
      3. By Country
        1. Australia, 2021-2031F (USD Million)
        2. Japan, 2021-2031F (USD Million)
        3. Singapore, 2021-2031F (USD Million)
        4. South Korea, 2021-2031F (USD Million)
        5. India, 2021-2031F (USD Million)
        6. China, 2021-2031F (USD Million)
        7. Rest of Asia Pacific, 2021-2031F (USD Million)
  21. Latin America Alginates Market, 2021-2031
    1. Market Overview
    2. By Value (USD Million)
    3. Market Segmentation
      1. By Product
      2. By Application
      3. By Country
        1. Brazil, 2021-2031F (USD Million)
        2. Argentina, 2021-2031F (USD Million)
        3. Mexico, 2021-2031F (USD Million)
        4. Rest of Latin America, 2021-2031F (USD Million)
  22. Middle East & Africa Alginates Market, 2021-2031
    1. Market Overview
    2. By Value (USD Million)
    3. Market Segmentation
      1. By Product
      2. By Application
      3. By Country
        1. GCC, 2021-2031F (USD Million)
        2. Israel, 2021-2031F (USD Million)
        3. South Africa, 2021-2031F (USD Million)
        4. Rest of MEA, 2021-2031F (USD Million)
  23. Analyst Review

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