The North America Alginates Market was valued at US$ XX billion in 2022 and is predicted to grow at US$ XX billion by 2028 with an increasing CAGR of XX% during 2023-2028.
Alginate, also known as alginic acid, is widely dispersed in brown algal cell walls and reacts with water to generate sticky gums. It also has thickening capabilities, the ability to produce gels, and the ability to form sodium and calcium films. Alginate is used in a variety of sectors, including food, dyeing, textiles, printing, pharmaceuticals, and cosmetics. It's also utilized as a welding rod and a binder in the feed industry. During the forecast period, Europe and Asia Pacific would lead the bulk alginic acid market. Alginic acid is utilized in a variety of foods, including ice cream, jellies, sauces, instant noodles, beer, dairy drinks, and so on, due to its distinctive qualities. Mixed alginate, the primary raw material utilized in the creation of brown algae, is found in brown algae.
The color ranges from white to tan. It's usually sold in the form of filaments or granules. It is readily absorbed by water and is utilized as a beneficial addition in the production of textiles and paper, as well as weight reduction aids in dry products. This is a colloidal material made from natural algae that is typically seen in processed foods.
Increased consumption of items like ice cream, beer, and yoghurt is predicted to boost market demand for food and beverage products. The FDA and the European Commission have approved the use of items in the food and beverage business in order to meet their requirements. Expansion in the food and beverage business, is predicted to stimulate demand for products in the North America region due to population growth. Furthermore, the application industry's high product adoption is likely to fuel growth. The therapeutic properties of this substance are critical in wound healing, infection therapy, and other disorders, boosting the North America alginate market in most developing countries.
Because of functional capabilities such as thickeners, gelling agents, emulsifiers, stabilizers, and film-forming features, food and beverage producers are the key market drivers affecting global demand for alginic acid. One of the safest food additives in the food industry, obtained from FAO/WHO certified natural algae, is the cause for the increased demand in the food industry. Alginic acid was largely employed by food and beverage industries as a thickening and texture enhancer. Meanwhile, as it is primarily used to print, create, and dye cotton and jute fabrics, demand from the textile sector is expanding.
Growing demand from various sectors, particularly food and textiles, is one of the primary drivers driving the North America alginates market forward. The textile industry, which includes industry, assembly applications, higher industrialization, increased end-user awareness, continual development, and innovation, is built on the implementation of processes like dyeing, printing, and fabric design in cotton and jute. It has also been used as a rod repair binder and as a factor to supplement the growth of the alginate market in the production of animal feed.
As the use of products in the bakery and confectionery sector grows, the market is predicted to rise at a highest rate over the next six years. In the coming years, the use of emulsifiers in salad dressings, peanut butter, margarine, chocolate, and frozen desserts is expected to drive demand for emulsifiers. Because there are so many suppliers on the market, the supplier's bargaining strength is limited. New prospects for the alginate and derivatives markets include the increase of innovation in food products to incorporate natural ingredients and the growing demand for health and wellness goods.
On the other hand, alginic acid's potential adverse effects, such as the high cost of brown algae cultivation and bloating, are anticipated to hinder the North America alginates market. However, due to its numerous applications, this product will get a lot of traction in a variety of industries. The increased demand for seaweed and carrageenan gum is expected to constrain raw material supply.
Propylene glycol topped the market in terms of revenue in 2020, with a revenue share of more than 38%. Over the forecast period, it is expected to maintain its supremacy by increasing at the fastest CAGR. It's an alginic acid ester that's used in the pharmaceutical, food, personal care, and cosmetics sectors as a stabilizer, thickener, and emulsifier. The FDA's approval of these goods as a food additive contributes to the increase in demand.
In 2020, sodium was the second-largest product on the market, with a revenue share of over 32%. It's a white-yellowish powder made from the cell walls of brown algae that's frequently utilized in the food sector as a gelling and thickening ingredient. Sauces, whipped cream, jellies, and other condiments are the most common uses for it. It also provides dairy products with more stability, resulting in higher demand.
Calcium alginates are frequently utilized in wound care and wound dressing products in the pharmaceutical industry. The calcium-based fibres help to speed up the healing process. Calcium alginate is also allowed for use as an anti-foaming agent in the food sector in North America and Europe. It is used as a thickening in food products to boost viscosity, which is likely to drive market growth over the forecast period.
Industrial application dominated the market in terms of revenue in 2020, with a share of 38.99 percent, and is predicted to continue to do so throughout the forecast period. Alginates have a commercial application in textile printing as a thickening agent since they mix cellulose in fibres. They are used to replace starches because starches react with reactive dyes, resulting in a poorer color yield.
They're also utilized in the paper industry to resize the surface. When combined with starches, the product produces a smooth, continuous film with less paper fluffing. Alginate, a component of wax papers, aids in the retention of wax on the paper's surface. It also functions as a film former, improving the paper's printability.
The North America Alginates Market Report includes the segmentation of countries:
North America's market is primarily driven by the region's highly established pharmaceutical and food and beverage industries. Product demand in pharmaceutical applications is predicted to increase as per capita health care spending rises in North American countries. Furthermore, various global heavyweights in the food and beverage and pharmaceutical industries are likely to boost market growth.
Because of widespread product penetration in the pharmaceutical industry, the United States is one of the world's main markets for alginates. The country's wound care market is well-developed, as seen by widespread use of cutting-edge wound care treatments, such as alginates. One of the major factors driving the U.S. market is increased healthcare spending in the form of health insurance. Over the projected period, the market is expected to benefit from rising demand for convenience foods in the region. Due to the existence of numerous manufacturing and global food processing companies, the industry has grown, resulting in increasing demand for alginates.
A vast number of Alginate firms were affected by the COVID-19 pandemic in a variety of ways, and they are now focusing on long-term growth. Because the worldwide Alginate and other chemicals industries are so important to a country's economic recovery, Alginate companies are likely to see possible prospects in the near future.
Key Players in the Market:
Major Key Players in the North America Alginates Market are
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