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The alginate derivatives market size is forecast to increase by USD 140.51 million at a CAGR of 5.05% between 2022 and 2027. The market's expansion hinges on various factors, including the increased utilization of alginates in biomedical applications, driven by their versatility and compatibility. Additionally, the surge in consumer preference for natural food additives fuels demand. Moreover, the textile industry's rising need for alginates and derivatives further propels market growth. These trends underscore a growing recognition of alginates' efficacy across diverse sectors, highlighting their significance in meeting evolving industry demands and consumer preferences.
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This market report extensively covers market segmentation by type (sodium alginate, calcium alginate, potassium alginate, PGA, and others), application (food and beverages, industrial, pharmaceutical, and others), and geography (North America, APAC, Europe, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
The market is driven by their diverse applications across food and pharmaceuticals, agriculture, and water treatment industries. Derived from sources like brown seaweed, alginate derivatives offer gelling properties and act as thickening agents in various products. They find use in medical devices such as wound dressings and catheters, contributing to tissue engineering and environmental remediation efforts. Challenges include addressing the physicochemical heterogeneity of derivatives and navigating regulatory dynamics. However, increased adoption of medical devices underscores the market's growth potential, both in the short and long term.
One of the key factors driving the market growth is the growing consumer demand for natural food additives. There is an increasing application of natural products such as binders and thickening agents in the pharmaceutical industry due to the growing popularity of the implementation of natural polymers in excipients. There is an extensive use of these materials in various l pharmacological formulation preparations.
For instance, it can be utilized for film-coating agents, nanoparticles, and viscous liquid formulations such as ophthalmic solutions, suspensions, and implants. Such derivatives are naturally derived additives manufactured from brown seaweed, which provide the effective function as an excipient in several end-users including food beverages, and pharmaceuticals. Hence, such factors are positively impacting the market which in turn will drive the market growth during the forecast period.
A key factor shaping the market growth is the rising application areas of alginate derivatives. Several new applications of alginate derivatives are being discovered due to the increasing research and their application range. These alginates are essentially organic polysaccharides and contain exceptional properties of biocompositeability, gel-forming capability, toxicity, biodegradation, and ease of processing.
Moreover, there is an increasing adoption of alginate (sodium alginate), hydrogel, oxidized, and alginate-based materials in various biomedical applications due to their superior properties. Some of the key application areas include drug administration, wound healing, cartilage restoration, and tissue engineering, as well as the production of 3D scaffolding materials such as hydrogels and microcapsules. Hence, such factors are expected to drive market growth during the forecast period.
The availability of substitutes is one of the key challenges hindering the market growth. Despite all the advantages of alginates and their derivatives, there is a lack of awareness regarding alginate derivatives in the consumer population. However, there is a growing popularity for other alternatives, including xanthan gum, guar gum, locust bean gum, psyllium, carrageenan, pectin, carboxymethyl cellulose (CMC), konjac gum, gelatin, agarose, agar, beta-glucan, gum Arabic.
Moreover, these alternatives are well established and provide similar applications as alginate derivatives. Additionally, these substitutes are easily available and are affordable when compared to it. Hence, such factors are negatively impacting the market which in turn will hinder the market growth during the forecast period.
The market research report includes the adoption lifecycle of the market research and growth, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth and forecasting strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Ashland Inc: The company offers alginate which is used as raw material in multiple products.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market is driven by its versatility in various industries like food and pharmaceuticals, agriculture, and water treatment processes. Derived from sources like brown seaweed, particularly sodium alginate, it serves as a multifunctional ingredient with gelling properties and acts as a thickening and stabilizing agent. In the medical sector, alginate derivatives find applications in medical devices such as wound dressings, catheters, and stents, owing to their biocompatibility. Moreover, they contribute to environmental remediation and tissue engineering, reflecting their wide-ranging impact in various fields. The market dynamics are influenced by factors such as increased adoption of medical devices and considerations of their short-term and long-term impact. With their properties as thickening agents and anionic polysaccharides, alginate derivatives are poised for continued growth and innovation across diverse sectors.
The sodium alginate segment is estimated to witness significant growth during the forecast period. This segment is a naturally occurring polysaccharide sourced from brown algae. This polysaccharide is mainly comprised of two related anionic monomers: beta-d-mannuronic acid monomers and beta-l-glucuronic acid residues.
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The sodium alginate segment was the largest segment and was valued at USD 259.04 million in 2017. During the dissolution of sodium alginate in a solution of calcium ions, the calcium ions react immediately with alginate, leading to the formation of a gel. There is an increasing adoption of Sodium alginate for various applications such as paper sizing agents, welding rod binders, and pet food gelling agents. The growing application areas of sodium alginate across different industrial sectors, such as paper textile, food, and beverages, is expected to fuel the growth of this segment which in turn will drive the market growth during the forecast period.
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APAC is estimated to contribute 28% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Some of the main countries in North America that are significantly contributing to the global alginates derivatives market are the US and Canada. Factors such as the rapidly growing food and beverage industry are positively impacting the market growth in the region.
Additionally, there has been a significant increase in the growth of the convenience food industry in the region due to factors such as changing lifestyles and the hectic schedules of consumers in the US and Canada. Therefore, there is an increase in demand for ready-to-eat (RTE) foods and instant foods among consumers in the region including soups, noodles, pasta, and bakery premixes, among others. There is an increasing adoption of alginates in the packaged food industry as additives to provide high-quality products that have a long-lasting shelf life. Hence, such factors are expected to drive the market growth in the region during the forecast period.
The market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
The market offers multifunctional ingredients with diverse applications ranging from soil conditioners in agriculture to encapsulation and controlled release in biotechnology. These derivatives exhibit emulsification and water retention properties, serving as texturizing agents in food and finding use in environmental applications. Despite facing competition from synthetic polymers, their appeal lies in being sustainable materials for various industries, including medical, pharmaceutical, and personal care. With the growing popularity of functional foods and novel derivatives, the market witnesses continuous innovation. As significant producers and exporters, companies navigate through factors like disposable income and consumption patterns while keeping pace with new product launches in the textile and food & beverage sectors.
Market Scope |
|
Report Coverage |
Details |
Page number |
173 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.05% |
Market growth 2023-2027 |
USD 140.51 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
4.35 |
Regional analysis |
North America, APAC, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 28% |
Key countries |
US, China, Germany, UK, and France |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Ashland Inc., BRENNTAG SE, Cargill Inc., DuPont de Nemours Inc., FMC Corp., IRO Alginate Industry Co. Ltd., J RETTENMAIER and SOHNE GmbH and Co KG, JRS PHARMA GmbH and Co. KG, KIMICA Corp., Marinalg International, Marine Biopolymers Ltd., Mytech Inc., Qingdao Allforlong Bio-Tech Co., Ltd. , Qingdao Bright Moon Seaweed Group Co. Ltd., Qingdao Fengrun Seaweed Co. Ltd., QINGDAO GFURI SEAWEED INDUSTRIAL Co. Ltd., Shandong Jiejing Group Corp., SNAP Natural and Alginate Products Pvt. Ltd., SNP Inc., and Syngenta Crop Protection AG |
Market dynamics |
Parent market growth analysis, Market forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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