The perpetual rise in consumption of processed and convenience food products is the significant factor contributing to the increase in sales of alginates and their derivatives. On the back of global industrialization and urbanization, there is a paradigm shift in the lifestyle of the people across the world, especially in urban areas. Consequent hectic work styles, growing distances between home and workplace, and increasing working woman culture are propelling the demand for shelf-stable, processed, convenience, and value-added food products. For instance, the processed food market in India, the second-largest food producer in the world is expected to propel at a CAGR of 14.6% to reach $543 billion by 2020 from $322 billion in 2016, according to the National Investment Promotion and Facilitation Agency, Invest India. These findings are an attenuated representation of the ubiquity of processed food consumption across the world. The burgeoning food processing industries use alginates and their derivatives as food additives. Alginates are polysaccharides that are refined from brown seaweeds and are used as thickening agents, gelling agents, restructuring agents, emulsifiers, stabilizers, texture-improvers in food products such as ice creams, jellies, milk drinks, dressings, instant noodles, processed meat, beer, wine and many more. Thus, the growing consumption of processed and convenience foods is considered to be the eminent growth driver for the alginates and derivatives market. Moreover, the food regulatory agencies such as Food and Agriculture Organization (FAO), Food and Drug Administration (FDA), European Commission, and World Health Organization (WHO) certified alginate as the safest food additive. This, in turn, further provided growth prospects for the alginates and derivatives market.

As of 2018, the alginates and derivatives market attained a value of $415.5 million. Furthermore, the rising demand for functional food ingredients is poised to propel the growth of the alginates market at a CAGR of 4.1% during the forecast period 2019-2025.

Alginates and Derivatives Market Gaining from Potential Usage of Alginates in Pharmaceutical Industry—

The applications of alginates are not limited to the food and beverage industry, but its scope is wide in the pharmaceutical industry. Alginates are used in several pharmaceutical formulations. It is used in the tablets to enhance the tablet disintegration for a faster release of the medicinal component. Alginate and its derivatives form a gel in the highly-acidic stomach and protect the stomach mucosa. Additionally, it is used as an emulsion stabilizer, thickening agent, disintegrant, and film-forming agent in tablets. Thus the flourishing pharmaceutical industry across the world is anticipated to propel the growth of the alginates and derivatives market. The growth in the pharmaceutical industry can be perceived from the trade value of the pharmaceutical products provided by the International Trade Centre (ITC), according to which import value of the pharmaceutical products in 2018 was $617 billion with an annual growth of 11% from 2017 to 2018. Therefore, the pharmaceutical industry is expected to be a significant factor fuelling the growth of the alginates and derivatives market.

Hefty Demand for Sodium Alginate Creating Revenue Influx in the Alginates and Derivatives Market—

On the basis of type, the alginates and derivatives market is segmented into sodium alginate, calcium alginate, potassium alginate, propylene glycol alginate, and others. Among these, sodium alginate is considered to be the key application segment and anticipated to derive maximum revenues to the market. This is attributable to the superior physicochemical and biocompatible properties of sodium alginate that others. It has the highest applications and demand due to its ability to dissolve in hot and cold water with strong agitation and can help in thickening and binding. As it no distinguishable flavor, it is increasingly used in the pharmaceutical industry in the formulation of indigestion tablets. Moreover, it is used in the prevention and treatment of high blood pressure, to lower cholesterol levels and to soothe irritated throats, relieves one from upset tummies and helps to bind up loose bowels. Thus, the key application segment is poised to propel at a CAGR of 4.6% through to 2025.

Flourishing End-Use Industries in North America Providing Promising Prospects for Growth of the Alginates and Derivatives Market—

Geographically, North America held the majority share in the global alginates and derivatives market with a demand share of 38.7% in 2018. The dominance of this region is primarily due to the burgeoning end-use industries such as food and beverage, pharmaceutical, textile, and cosmetics and the huge potential of alginates and their derivatives to be used in those industries. The aforementioned industries are propelling consistently due to factors such as huge consumer base, increasing purchasing power, and technological advancements. For instance, the trade value of pharmaceutical products increased by 19% from 2017 and attained a value of $115 billion in 2018, according to the International Trade Centre.

Moreover, in the textile industry, these products are used in the coloring substrate while applying patterns during the textile printing of fabrics, scarves, towels, and cotton, jute, and rayon products. Additionally, there is an increasing demand for alginates as it decomposes easily and gives easier waste water disposal when compared with other substrates in textile printing. Thus the booming textile industry in this region is contributing significantly to the market growth. The propitious growth in the textile industry can be understood from the statistics by U.S. Census Bureau Manufacturers’ Shipments, Inventories, and Orders, according to which, the trade value of textile and apparel increased from $73 billion in 2017 to $76.8 billion in 2018, in the US. Thus the increasing usage of alginates and its derivatives by the aforementioned industries have rendered North America with the maximum market share.

Alginates & Derivatives Market: Major Company’s Strategies—

Major companies that are implementing various strategies to build their brand name in the global alginates and derivatives market are Cargill Inc., DuPont, FMC BioPolymer, KIMIA Corporation, Mytech, Inc., Shandong Jiejing Group Corporation, SNAP Natural & Alginate Products Pvt. Ltd., and SNP, Inc. These companies are continuously investing in new product innovations, and frequently involved in mergers, acquisitions, partnerships, and collaborations, to reach global customers and stay ahead of their competitors.

· In 2018, KIMIA Corporation announced the establishment of KIMIA Europe GmbH, a wholly-owned subsidiary in Germany. This new facility is intended to meet the growing demand for alginates and its salts from the food, pharmaceutical, and medical industries in Europe.

· In 2017, SNP Inc., partnered with OK Kosher, to successfully complete the kosher-certification process. It has announced the kosher-certification of its C-series and N-series sodium alginate product line. This is intended to strengthen the business pertaining to its natural sodium alginate polymers.

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