Research Nester’s recent market research analysis on “Alginates Market: Global Demand Analysis & Opportunity Outlook 2037” delivers a detailed competitors analysis and a detailed overview of the global alginates market in terms of market segmentation by product, application, and by region.

Rising Consumption of Food & Vegetables to Promote Global Market Share of Alginates

The global alginates market is estimated to grow majorly on account of the rising trade of natural food, such as food and vegetables, and the higher consumption of dairy products, such as ice cream, smoothies, and others. Alginates are used as an edible coating, these coatings are applied on the surface of fruits and vegetables. It acts as a barrier and prevents the loss of moisture, moreover, alginates have antimicrobial properties that restrict the growth of bacterial colonies. This helps in managing the crispness and freshness of fruits and vegetables during tough conditions and transportation. Food and Agriculture Organization of the United Nations (FAO), food production is expected to grow at a rate of 3.2 percent per year for vegetables and 1.6 percent per year for fruits. Moreover, alginate is a healthier alternative to starch and gelatin, both of which are used as stabilizers in ice cream and yogurt. New Zealand was the highest consumer of ice cream, consuming approximately 28 liters per person per year in 2022.

Besides this, the rising use of alginates in the textile industry and in the medical industry as well. Alginates, particularly sodium alginates, are widely used in textile printing as printing pastes to give print stability in a variety of cloth materials such as cotton, silk, synthetic fiber, and wool. Moreover, they are also employed in wound dressings, they are combined with calcium ions.

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Some of the major growth factors and challenges that are associated with the growth of the global alginates market are:

Growth Drivers:

Surge in Vaccination Drive for COVID-19 Globally
Rising Need for Digital Drug Delivery
Challenges:

The use of alginates is in the limited industry which restricts the market expansion, and the production of raw material for manufacturing alginates is expensive, which further impedes the market growth. On the other hand, there are various alternatives present in the market. Carrageenan, agar-agar, guar gum, xanthan gum, and others have similar properties like alginates, therefore it poses huge competition and is one of the major factors anticipated to hamper the global market size of alginates.

By application, the global alginates market is segmented into food additives, pharmaceutical & medical devices, paper & pulp, personal care & cosmetics, textiles, animal feeds, and others. The food additives segment is to garner the highest revenue by the end of 2037 by growing at a significant CAGR over the forecast period.  The usage of alginates in the food business complies with food industry regulatory criteria because they are regarded as safe by regulatory bodies when utilized in controlled quantities. This makes it a safe bio-based product to be used as a food preservative in the food industry. Furthermore, by product, the market is fragmented into food, pharmaceutical, technical, and feed-grade alginates. Amongst all, the pharmaceutical alginate grade is expected to garner a significant market share. Alginates are integrated with medication formulations to allow for the drug's prolonged release over time. Moreover, it is also used as an absorbent material in various wound dressings, adhesives, and sealants.

By region, the Asia Pacific alginates market is to generate the highest revenue by the end of 2037. The growth of the market in the region is expected on account of improved healthcare infrastructure and growing instances of chronic diseases. cardiovascular disease (CVD) is the major cause of death in Asia-Pacific, accounting for 9.4 million deaths in the region. Alginates are used in the surgeries of advanced wounds as they are highly absorbent and have the ability to hold large amounts of bodily fluids. Therefore, increasing surgical procedures in the APAC region is further predicted to drive the growth of the market in the region.

Access our detailed report at: https://www.researchnester.com/reports/alginates-market/4051

This report also provides the existing competitive scenario of some of the key players of the global alginates market which includes company profiling of IRO Alginate Industry Co., Ltd., One.Five GmbH, ZIBO WANGFEI SEAWEED TECH CO., LTD., FMC Corporation, QINGDAO GFURI SEAWEED INDUSTRIAL CO., LTD., SNP, Inc., Ashland Global Holdings Inc., KIMICA Corporation, Shandong Jiejing Group Corp., and BASF SE.

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