Asia-Pacific Alginate Market Size, Share & Trends Analysis Report By Product (Sodium Alginate, Calcium Alginate, Potassium Alginate, Propylene Glycol Alginate, Others), By Type (High M, High G), By Application (Food and Beverages, Pharmaceutical, Industrial, Others), By Function (Stabilizers, Thickeners, Gelling agents, Emulsifiers) and By Country(China, Korea, Japan, India, Australia, Taiwan, South East Asia, Rest of Asia-Pacific) Forecasts, 2024-2032

Market Overview

The Asia-Pacific alginate market size witnessed significant growth in the past and is expected to grow at a CAGR of about 5.3% during the forecast period (2023-2031).

Alginate is a polysaccharide that occurs naturally in certain species of brown algae. As a hydrocolloid, alginate is utilized in numerous industries, including the pharmaceutical and agricultural sectors. Alginates are composed of two types of uronic acid, also known as alginic acids. Due to its thickening, casting, and stabilizing properties, alginate is the most compatible and optimal component for numerous industries. Alginate is extensively available in powder and granule form, facilitating its casting and thickening. Other uses for alginates include wound healing and the treatment of various infections.

The food and beverage industry consumes over 40% of the overall demand for alginate. Salad dressings, ice cream, and yogurt are alginate foods and beverages. Alginate is employed in various pharmaceutical products, such as capsules, pills, and suppositories. Alginate is used in various medical items, such as contact lenses, surgical implants, and bandages for open wounds.

Highlights

• Propylene Glycol Alginate dominates the market by Product. 
• High G dominates the market by Type.
• Industrial dominates the market by Application.
• China dominates the market by Country.

Market Dynamics

Asia-Pacific Alginate Market Drivers:

Growing alginate penetration in food industry

The market for packaged foods has shown significant recent expansion, and it is expected to continue growing until 2028. Over the projected period, it is anticipated that cities will grow due to rapid industrialization, particularly in growing economies like China, India, and Southeast Asian countries.

Growing Demand in Pharmaceutical Sector as a Stabilizer and Thickening Agent

Due to advances in science and technology, the pharmaceutical sector has been expanding quickly over the past few years. This trend will continue over the forecast period, particularly in developing nations like China and India. These countries have considerable market potential in the pharmaceutical industry. As many businesses struggle with the stagnation of mature markets, the expiration of patents, and an increase in regulatory barriers, it is anticipated that factors like the growing population's focus on increasing life expectancy and increasing disposable income will offer businesses appealing opportunities.

Asia-Pacific Alginate Market Restraints:

Volatile Production of Seaweed

The weather in the major seaweed-harvesting economies has a big impact on market products as well. Weather disruptions like El Nino have an impact on the production volume as well. The alginate market is highly dependent on seaweed production, which is projected to limit market growth throughout the forecast period.

Environmental concerns have been raised as a result of an increase in seaweed production from aquaculture and increased seaweed harvesting results from high demand for seaweed among producers of carrageenan, agar-agar, and alginate, which upsets the ecological balance. Seaweed growth is predicted to be limited due to worries about the detrimental effects of unsustainable farming, which is anticipated to increase pressure on the alginate market in the upcoming years.

Asia-Pacific Alginate Market Opportunities:

Rising prevalence of GRED, obesity, and cardiovascular diseases

Alginate provides many health advantages, including GERD symptom relief, weight loss, and defense against cardiovascular and neurological conditions. It has immunomodulatory, anti-tumor, antioxidant, anti-microbial, and anti-inflammatory effects. It also provides a considerable amount of dietary fiber. Alginate forms a physical gel barrier that shields the upper part of the stomach, making it more effective than antacids. It also lowers cholesterol levels, which lowers the risk of developing cardiovascular disease.

Also on the rise is the prevalence of GERD in Asia-Pacific. Twenty percent of people in India have GERD symptoms. Heart disease is on the rise in the United States, and factors contributing to this growth include obesity, stress, diabetes, high blood pressure, alcohol use, and a sedentary lifestyle. The World Health Organization reports that compared to other diseases, cardiovascular disease has a greater fatality rate. Cardiovascular disease prevalence in China in 2019 was responsible for more than 40% of fatalities. The growing incidence of obesity can be blamed for much of the rise in cardiovascular illnesses. Moreover, 50% of adults and 20% of toddlers in China are fat, making it the country with the highest percentage of obese patients worldwide. The highest prevalence rates of cardiovascular disease are found in Bangladesh, Sri Lanka, and Iran.

Regional Analysis

The Asia Pacific market is segmented by country into China, India, Japan, Southeast Asia, Australia, and the Rest of Asia Pacific. China dominates the country market and is expected to grow at a CAGR of 5.6% during the forecast period.

A large number of producers characterizes the Asia Pacific region's alginates market. Producers in China and Japan are responsible for many of the alginates produced in the area. A significant population base in the area contributes to a healthy pharmaceutical and healthcare sector.

Over the next eight years, the market is expected to be driven by the expanding alginate application breadth in numerous end-use sectors and the fast industrialization of Asian nations, including China, India, and Thailand. Due to the product's widespread use in paper sizing applications and numerous paper factories in the area, the market is also anticipated to be driven by these factors.

However, it is projected that the current COVID-19 outbreak in nations including China, India, Japan, Australia, Indonesia, Thailand, and others will harm product demand, particularly in consumer, industrial, and pharmaceutical goods applications. The epidemic has caused a slowdown or stoppage in manufacturing operations, limitations on supply and transport, and infrastructure delays, all of which negatively influence the region's demand for alginates in the third and fourth quarters of 2020.

Segmental Analysis

The Asia-Pacific alginate market is segmented based on Product, Type, Application, and country.

Based on Product, the Asia Pacific market is further segmented by Sodium Alginate, Calcium Alginate, Potassium Alginate, Propylene Glycol Alginate, and others.

Propylene Glycol Alginate dominated the market and is expected to register a CAGR of 6.0% over the forecasted period.

Based on Type, the Asia Pacific market is segmented by High M and High G.

High G dominated the market and is expected to register a CAGR of 4.8% over the forecasted period.

Based on Application, the Asia Pacific market is segmented by Food and Beverages, Pharmaceuticals, Industrial, and Others.

Industrial dominated the market and is expected to register a CAGR of 4.8% over the forecasted period.

Recent Developments

• March 2023- KIMICA said it had created a novel variety of alginate that is more heat- and acid-resistant. The new alginate is made for usage in numerous industries, such as the food and beverage industry, the pharmaceutical industry, and the medical industry.
• Jan 2023- Sigma-Aldrich Co. announced the expansion of its alginate product line. New alginate forms, such as powder and granules, as well as new grades of alginate, are included in the extension. The alginate product range has been expanded to address the rising demand for alginate from several industries, including the food and beverage, pharmaceutical, and medical sectors.