Alginates Market was worth USD378.2 million in 2018 and estimated to be growing at a CAGR of 3.86%, to reach USD457.1 million by 2023. The industrial textile industry has dominated the demand for alginate in recent years. In the industrial textile sector, alginates are generally used as thickening agents for dye-containing dough. In the food and beverage industry, alginate is mainly used in sauces and ice cream in the form of stabilizer and thickener. It is also used as a release agent in water and oil emulsions and as a softener for baking applications. Significant growth is expected in the alginate market for the food and beverage industry.
Market Drivers and Restraints:
The market shows potential in the forecast period mentioned above. The alginate market continues to gain momentum as a result of the growing demand to improve food textures. Besides, several applications of alginate, such as immobilization of biocatalysts, pharmaceuticals, textile printing, welding rod coatings, papermaking, and food binders and fish releases, are expected to stimulate the growth of the alginate market during the period provided. Besides, an increase in convenience food consumption is expected to boost growth in the global alginate market during the given forecast period.
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Report segmented as
By Product Type:
- Sodium Alginate
- Calcium Alginate
- Potassium Alginate
- Food & Beverage
Geographically, the market is analyzed under various regions, namely Europe, North America, Asia-Pacific, Latin America, and Rest of the World. As per the alginate production, major producing regions are Europe and the Asia Pacific and contributes the majority of market share in the global level market. In terms of value, it is expected that Europe and North America account for the major share in terms of cost and also as a lucrative market in the near future.
Important Market Players:
Some of the major players in the influenza diagnostic market 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, Penford Corporation.
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The Scope of the report:
This report offers the current product and services market evaluation and the future estimation of the market. It helps us understand the market better through size anticipation and CAGR calculation to estimate the next market. It has a broader segmentation for better understanding of the enterprising of the market at a low level by segregating the market into smaller sectors.
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