According to the research report titled ‘Alginate Market Size By Type (High M, High G), By Product (Sodium, Calcium, Potassium, Propylene Glycol), By Application (Food & Beverage [Baking, Confectionery, Dairy Products, Meat Products], Medical & Pharmaceutical, Cosmetic, textile, Pulp & Paper), Industry Analysis Report, Regional Outlook, Application Potential, Covid-19 Impact Analysis, Price Trends, Competitive Market Share & Forecast, 2021 - 2027’, available with MarketStudyReport, global alginate market is expected to grow significantly during the forecast period 2021–2027.
 

As per report findings, factors such as increasing product adoption in wound dressing and orthodontic materials, growing seaweed cultivation, high consumption of baked food products, and rising consumer preference towards plant-based foods are driving the growth of global alginate market.
 

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For the uninitiated, alginate is an anionic polymer naturally found in brown algae on their cell walls. They are extremely versatile due to their desirable chemical & structural characteristics and hence, are preferred for various applications such as regenerative medicines, biotechnology, cosmetics, pharmaceutical, textile, and food & beverage.

Moreover, increasing innovations in development & extraction of alginates, coupled with adoption of profitable business strategies by leading players to tap the emerging trends are also fostering industry expansion.

 

Despite the positive outlook, potential side effects of the product are likely to impede market development in the coming years.
 

Based on product type, potassium alginate product segment is anticipated to grow at 3.5% CAGR over the analysis period.
 

Considering application based fragmentation of worldwide alginate industry, confectionery food & beverages application segment is estimated to expand at 3% CAGR during the study period. Meanwhile, textile application segment held 20% market share in 2020 and is slated to exhibit robust growth through 2027.
 

From a regional perspective, the research literature for the market spans across North America, Latin America, Asia Pacific, and Middle East & Africa (MEA). Among these, Latin America market is poised to reach a valuation of USD 55 million by the end of 2027, whereas Middle East & Africa industry is projected to grow at 2% CAGR during the stipulated period.
 

The competitive landscape of global alginate market is defined by companies such as J. Rettenmaier & Söhne GmbH + Co KG, Algea, DuPont de Nemours, Inc., Shandong Jiejing Group Corporation, Brenntag SE, Marine Biopolymers Ltd., Qingdao Yitex Chemical Co., Ltd., CEAMSA, Kimica Corporation, Algaia, and Ingredient Solutions, Inc. among others.