The Asia Pacific alginate market size is expected to reach a valuation of USD 401.88 million by 2030, growing at a CAGR of 6.30% during the forecast period (2022–2030).
Alginate is a naturally occurring polymer made from brown algae. Sodium, calcium, and potassium alginate are commercially available in flagellated and granular forms and can entangle with water to form a viscous gum. Alginate is used to stiffen foods including jellies, jams, ice creams, marmalades, frozen desserts, chocolates, and fast noodles. Textiles, paper, and pulp handling are only a few of their various uses. Alginate beats other regularly used thickening agents in terms of biocompatibility, cost-effectiveness, and toxicity. The global alginate market is expected to develop significantly due to rising demand for the product in the manufacturing of culinary products such as ice cream, yoghurt, and bakery goods. Furthermore, major regulatory agencies such as the FDA and the European Commission have allowed the use of alginates in the food and beverage industry, which has boosted demand. Because of its increased solubility at low pH values, propylene glycol alginate (PGA) is used in salad dressings and brews. Alginates can be found in juices, salad dressings, ice creams, spreads, flans, bakery creams, meat and fish coatings, confectionary, and a variety of health foods.
Asia, the region is growing at the fastest rate throughout the globe with a high CAGR. Increased demand for sweetened confectionery foods has had a proportional impact on global sales of gelling agents. Alginates, in addition to the commonly used thickening and gelling agents, has seen a steady increase in sales in the region.
Product, type, application, and geography are the four categories that make up the Asia Pacific alginate market.
Sodium alginate, calcium alginate, potassium alginate, propylene glycol alginate, and others are among the alginate products available in the region. In terms of volume, the sodium alginate section is the most important, accounting for approximately 41.4% of the total. Over the forecast period, the market expansion is expected to be driven by increased demand for sodium alginate as an active dyestuff in the food & beverage, pharmaceutical, and textile sectors.
Despite the product's low consumption volume, sodium alginate is commonly used as a sizing agent in the paper sector. In the food sector, the chemical is often used to thicken and gel. Sauces, dressings, whipped cream, and jellies are just a few of the products made with sodium alginate in the food sector. Sodium alginate is projected to expand in popularity in tissue engineering, pharmaceutical formulations, and clinical wound therapy due to its exceptional physicochemical and biocompatible properties. The pharmaceutical industry's development of enhanced sodium alginate-based solutions, such as gel matrix tablets, to boost targeted intestinal absorption is also expected to drive market expansion.
High M and high G alginate are the two forms of alginate available in the region. The market is dominated by High G. Alginates that contain a lot of guluronic acid are known as high G alginates. Food, cosmetics, and pharmaceuticals are just a few of the uses for these products. Gel formation is slower in high G-type alginates than in high M-type alginates due to the buckled chain structure.
In alginate-based medical dressings, the composition of high G and high M blocks differs depending on the manufacturer. Because of its superior gelling properties, high G alginate is more popular among food and beverage clients. One of the appealing features for its use in the pharmaceutical business is increased product flexibility, which is projected to drive market growth.
The alginate market in the region includes culinary, medical, industrial, and other uses. The food application category is the market leader in terms of revenue. Because of increased disposable income and high food consumption, as well as an increase in the worldwide population, the food business is expected to grow quickly during the next eight years.
Furthermore, owing to increased health-related concerns, the growing use of organically derived goods like alginate as a food ingredient is likely to emerge as a key driver for the alginate market's growth. Propylene glycol ester alginate is predicted to have a growing demand in the region as a thickening agent, stabiliser, and flavouring adjuvant as a result of its improved product stability and effectiveness over a wide temperature range.
By 2030, the Asia Pacific alginate market is estimated to be worth USD 401.88 million, with a compound annual growth rate (CAGR) of 6.30 % over the forecast period (2022–2030). Asia, as a region, is growing at the quickest rate in the world, with a high CAGR. Increased demand for sweetened confectionery items has impacted global sales of gelling agents proportionally. Alginates have seen a continuous increase in sales in the region, in addition to the regularly used thickening and gelling agents.
The Asia-Pacific area is the fastest-growing, accounting for nearly 30.1% of revenue in 2021. The alginates market in the region is characterized by a large number of manufacturers. Producers in China and Japan account for a substantial portion of the alginates produced in the region. The region's strong population base supports a thriving pharmaceutical and healthcare industry.
The expanding application spectrum of alginate in numerous end-use sectors, as well as rapid industrialization in Asian nations such as China, India, and Thailand, are expected to boost the market over the next decade. Furthermore, due to the product's widespread use in paper sizing applications, the existence of multiple paper makers in the region is projected to drive the market.
As a result of rising demand, India's pulp and paper sector continue to grow. Paper consumption in India is expected to expand at a rate of 6 to 7% per year, reaching 30 million tonnes by FY 2026-27, owing to a focus on education and literacy, as well as expansion in organized retail and hence the demand for Alginate is expected to rise in the country during the forecasted period.
Some of the major players in the Asian Pacific Region (having significant market shares) are listed below:
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends|