The Europe Alginates Market is projected to hit the highest CAGR in the coming years.
Alginates are a group of natural anionic polysaccharides obtained from the cell walls of brown algae. Alginate is a type of hydrocolloid extracted from brown algae. It has a variety of functional properties such as thickener, gel-forming ability, and use to form sodium and calcium films. Alginate is used in a variety of applications in the food, textile, printing, dyeing, pharmaceutical, and cosmetic industries. Alginate finds a wide range of medical industry applications due to its biocompatibility and ease of gelling. This product is widely used in the development of wound dressings due to its porous structure and high absorption capacity. It is also used in food products for its thickening and stabilizing properties. They are widely used in the food industry and are used in the preparation of jams, jellies, and marmalades.
Increased use of sodium-calcium alginate fiber for wound healing is expected to drive the European Alginates market growth over the forecast period.
The key factors driving the growth of the Europe Alginates market include increasing demand from various sectors, especially end-users, increasing awareness of the food and textile industry, increasing industrialization, continuous development, applications, and innovations. In addition, the textile industry trusts him. It carries out processes such as dyeing, printing, and design on cotton and jute fabrics. Alginate is easy to gel and has high biocompatibility, so it has a wide range of uses in the medical field. This product is widely used in the development of wound dressings due to its porous structure and high water absorption capacity. It also finds potential applications in the food and beverage industry due to its thickening, strong gelling, and film-forming properties. Major regulatory bodies such as the FDA and the European Commission have allowed the use of alginates in the food and beverage sector, which is expected to positively impact product demand.
Furthermore, the high acceptance of the products in the applications industry is expected to drive Europe's Alginates market growth. Companies innovate their latest products to attract buyers and increase profitability. Significant investments by alginate manufacturing companies and national governments to accelerate algae processing growth will help the industry grow. As the European Alginates market demand for algae to process other products such as carrageenan gum increases, the source of raw materials may be scarce. Due to its strong gelling properties, the increasing demand for alginates in the food industry is expected to boost the market growth. Additionally, increasing product applications in the confectionery and confectionery sector are expected to drive Europe Alginates market growth over the forecast period. Significant investments by alginate manufacturing companies and national governments to promote algae processing are expected to help grow the alginate market. In addition, the wide adoption of products in the healthcare industry is driving the growth of the European Alginates market. Consequently, the textile industry uses alginic acid derivatives to print and design on cotton, dyes, towels and scarves, rayon, and jute fabrics, which are also contributing to the growth of the market. Other factors are expected to further drive the European Alginates market, including a growing demand for biomedical compounds with customized physicochemical properties along with extensive use of the product as feed additives. Europe Alginates market growth is expected to accelerate as demand for alginate increases in the food industry due to its excellent gelling properties. The rapid growth of the global food and beverage industry is one of the key factors in creating a positive outlook for the European Alginates market. Alginate is widely used as a natural additive for the production of various ready-to-eat (RTE) and convenience food products due to its thickening, gelling, and film-forming properties.
The European Alginates market continues to face instability in seaweed supply due to unsustainable production technologies, which may hamper overall growth to some extent. The increasing demand for algae in other applications, such as carrageenan gum extraction, may limit the availability of raw materials and impede the European Alginates market's growth.
By Type, the European Alginates market is segmented into Sodium Alginate, Calcium Alginate, Potassium Alginate, PGA, and Others. PGA segment is holding with the highest shares of the market. Sodium emerged as the second-largest product on the market, with a sales share of more than 32% in 2020. The white-yellow powder is extracted from brown algae's cell wall, widely used in the food industry as a gelling and thickening agent.
By Application, the Europe Alginates market is divided into Food & Beverage, Industrial, Pharmaceuticals, and Others. Industrial applications dominated the industry with a 38.99% share in 2020 and are expected to remain dominant throughout the forecast period. Alginate is industrially applied in textile printing, which is used as a thickener by binding cellulose to fibers. The pharmaceutical sector is expected to record the fastest CAGR from 2022 - 2027 due to the high demand for products due to their excellent curing ability in dry and wet conditions.
COVID 19 is caused by SARS-CoV-2 which effects respiratory system majorly. COVID 19 has spread at rapid pace across the world. The first case was registered in Wuhan, China on December 2019. World Health Organization (WHO) declared the novel coronavirus as a pandemic. Since then, all the countries have restricted to follow lockdown guidelines to control the spread of the coronavirus. Disruptions in the supply chain and manufacturing units, the demand for the alginates market was declined especially in the first half of 2020. However, the market is expected to have the previous shares by the end of 2021.
Especially in the UK, Germany, France, Spain, and Italy, the rapid growth of end-use vertical industries, such as the European food and beverage industry, will drive the European Alginates market. The UK Alginates is an important regional market in Europe, and increasing research and development spending from the pharmaceutical industry is expected to drive demand for products, which is expected to expand Europe Alginates market growth over the forecast period. Increased demand in the pharmaceutical sector and increased consumption of packaged foods among consumers will boost the France alginate market. Spain is expected to provide significant growth opportunities for the expansion of the sodium alginate industry during the forecast period. The growth can be attributed to Germany's thriving textile industry, which represents a significant part of the European alginate industry.
Key Players in the Market:
Major Key Players in the Europe Alginates Market are
KIMICA Corporation, DuPont, Prestige Brands, Inc., Qingdao Rongde Seaweed Co., Ltd., Qingdao Liyang Seaweed Industrial Co., Ltd., Cargill, Incorporated, Compañía Española de Algas Marinas SA, Prinova Europe Limited, Shandong Jiejing Group Corporation, and A2 Trading GmbH.
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