The global alginate market has been expanding at a steady pace over the past several years. The numerous high-value applications of alignate in biomedical science and engineering disciplines bodes well for the alignate market. Alignate displays numerous favourable properties such as biocompatibility and ease of gelation. This makes alignate particularly suitable for drug delivery, wound healing, and tissue engineering applications.
The report provides a brilliant analysis of the global alignate market with a focus on market dynamics, geographical distribution, and competitive scenario. Market size projections and revenue share of key segments based on past and current trends is a key feature of the report. Market stakeholders can leverage this analysis to formulate winning growth strategies in this competitive global alignate market.
Key factors influencing the growth of alignate market include exceptional growth of the food and beverage industry. Alignate displays functional properties as a gelling agent, thickening agent, stabilizer, and film-forming. These functional properties expand the applications of alienates for intermediate processes in food processing.
In particular, the demand for alienates in the food and beverage industry is driven by its high quality gelling property. The heightened consumption of foods such as yogurt, ice-cream, and beer is thus fuelling the global alignate market. In addition, alignate finds extensive application as it is one of the safest food additives. Alignate is permitted by key regulatory agencies such as FDA and the European Commission for use in the food and beverage industry.
Lastly, the extraction of alignate from natural seaweed is a new trend that has come to the fore. Manufacturers of food and beverages are increasingly opting for naturally sourced alignate especially for superior quality specialty foods. In the U.S., the recovery of the pharmaceutical sector is serving to boost the alignate market. Alignate is used in the production of controlled release drugs due to its superior performance.
The global alignate market could be spread across North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa. North America and Europe, among them, hold key share in the global alignate market vis-à-vis revenue. However, Asia Pacific is likely to register impressive growth in the alignate market due to exceptional growth of the food and beverage industry. Increasing consumer awareness and rising demand for natural additives is stoking the demand for alienates extracted from seaweeds. Also, rising consumption of processed foods in emerging economies of the region is indirectly benefitting the alignates market.
Some of the key companies operating in the global alignate market are DuPont, Qingdao Rongde Seaweed Co. Ltd., Cargill Incorporated, Shandong Jiejing Group Corporation, Company Espanola de Albas Marinas S.A., KIMICA Corporation, Prestige Brands Inc., Qingdao Liyang Seaweed Industrial Co. Ltd., Prinova Europe Limited, and A2 Trading GmbH. Development of advanced product variants is a key growth strategy of savvy players in the global alignate market.