The Alginates Market is predicted to reach USD 407.68 million with a CAGR of 3.82% according to Market Data Forecast report.

The Alginates Market is predicted to reach USD 407.68 million with a CAGR of 3.82% according to Market Data Forecast report.

ID: 2436 | October 2018 | Region: Global

The Alginates Market report published by Market Data Forecast provides a detailed account of the Market Trends via Customized Research presented as Strategic Analyses, Company Profiles, Competitive Landscape, etc. According to the report, the Alginates Market is estimated to be USD 338 million in 2016 and predicted to rise to USD 407.68 million by 2021 with a CAGR of 3.82%. The market is segmented by Type (Sodium Alginate, Calcium Alginate, Potassium Alginate, PGA, Others) and Application (Food & Beverage, Industrial, Pharmaceuticals, Others). Further, the market is also geographically segmented into North America, Europe, Asia-Pacific, Latin America and Middle-East & Africa.

The market is showcasing likely potential in the mentioned forecasting period. The market continues to grow owing to the increasing demand for improving food textures. Moreover, different uses of alginate such as in pharmaceutical products, immobilizing biocatalysts, textile printing, paper manufacturing, welding rods coatings, and binders for fish feeds and releasing agents is likely to propel the growth of alginate market. Moreover, increase in consumption of processed convenience food products are expected to accentuate growth of global alginate market over the given forecast period.

The industrial textile sector has been dominating the demand for alginate in the recent years. In the industrial textile sector, alginates are used as thickeners for dye. In food and beverage industry, alginate is used in in ice-creams and sauces, acting in the form of a thickening and stabilizing agent. Also, it is used as a separating agent in oil-water emulsions and as a softening agent for bakery items. In terms of application food and beverage industry is expected to witness fastest growth in the alginate market.

As per the alginate production, major regions are Europe and Asia Pacific which contribute to the majority of market share in the global level market. In terms of market share, it is expected that Europe and North America account for the major share in terms of value and also as a lucrative market in the near future.

Some major companies dominating the alginate market, by their products and services are: Ashland Inc., Brenntag AG, Cargill Inc., Dohler Group, FMC Corporation, Dastech International Inc., E.I. DuPont De Nemours and Company, Kimica Corporation, Dow Chemical Company and Penford Corporation.

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