Global Alginic Acid Market: Overview
Seaweeds are classified into red, brown, and green depending upon its pigmentation. Alginic acid is hydrophilic colloidal polysaccharide obtained from the brown seaweed and is also known as alginate. It has a color range from yellowish-brown to white powder. Alginic acid is used for various industrial applications and is also used in the food and beverage industry. When combined with magnesium carbonate and aluminum hydroxide, alginic acid forms antacids.
|Historic Years||2016 - 2020|
|Forecast Years||2021 - 2028|
|Segments Covered||By Product Type, By Application, and By End Use|
|Forecast Units||Value (USD Billion), and Volume (Units)|
|Quantitative Units||Revenue in USD million/billion and CAGR from 2021 to 2028|
|Regions Covered||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World|
|Countries Covered||U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others|
|Number of Companies Covered||10 companies with scope for including additional 15 companies upon request|
|Report Coverage||Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.|
|Customization Scope||Avail customized purchase options to meet your exact research needs.|
Global Alginic Acid Market: Segmentation
The global alginic acid market is segmented into its type of salts, end-use industry, functional use, and geography. On the basis of salt type, the market is divided into propylene glycol alginate, magnesium, lithium, ammonium alginate, calcium alginate, potassium alginate, and sodium alginate. Based on the end-use industry, the market is segregated into, leisure industry, technical industry, textile and paper industry, art and crafts, cosmetics, pharmaceuticals, and food industry. On the basis of functional use, the market is categorized into foaming and emulsifying agent, stabilizer, coating, adhesive, gelling agent, thickening agent, and moisture retainer. Diversification of the market on the basis of the region is seen into North America, Latin America, Asia-Pacific, Europe, and the Middle East and Africa.
Global Alginic Acid Market: Growth Factors
The alginic acid market is driven by the food and beverage industry mainly due to increasing demand for the meat products, processed food, and dairy products in this sector. The health benefits and commercial applications of alginic acid will boost the market growth. Alginic acid and its salts have the property of water absorption which makes it useful in the dehydration process and they are also used in the paper and textile industries. However, the expensive cultivation of brown seaweeds and the possible side effects caused due to an alginic acid such as stomach swelling may cause a hindrance to the market growth. Also, geriatric patients and people suffering from renal dysfunction should avoid the use of alginic acid. These factors will negatively influence the market demand in the long run.
Global Alginic Acid Market: Regional Analysis
The largest share in the alginic acid market is held by Europe and North America. Growth can be attributed to the rapidly developing food and beverage industry in these regions especially in Canada, the U.S., Germany, the U.K., Spain, France, and Italy. Asia Pacific follows the growth of Europe and North America. Growing demand in the pharmaceutical sector and rising consumption of packaged food and meat products among the consumers is driving the growth of the market in Asia Pacific region. Also, Latin America and the Middle East and Africa will be contributing a considerable share to the market growth.
Global Alginic Acid Market: Competitive Players
Some of the major companies in the alginic acid market include SNAP Natural & Alginate Products, KIMICA Corporation, IRO Alginate, Cargill Incorporated, Qingdao Rongde Seaweed Co. Ltd., Qingdao Allforlong Biotech Co. Ltd, and Qingdao Bright Moon Seaweed Group Co. Ltd., Qingdao Gather Great Ocean Algae Industry Group Co. Ltd., Lianyungang Huanyu Seaweed Co. Ltd, Qingdao Fengrun Seaweed Co. Ltd., and Protan AS.
Global Alginic Acid Market: Regional Segment Analysis
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