LAMEA 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(Brazil, Mexico, Argentina, Chile, Colombia, UAE, Turkey, Saudi Arabia, South Africa, Egypt, Nigeria, Rest of LAMEA) Forecasts, 2022-2030

Market Overview

The LAMEA Alginate Market size is expected to reach a valuation of USD 47.98 million by 2030, growing at a CAGR of 5.20% during the forecast period (2022–2030)

Brown algae produce alginate, a naturally occurring polymer. Commercially available in flagellated and granular forms, sodium, calcium, and potassium alginate can entangle with water to form a viscous gum. Jellies, jams, ice creams, marmalades, frozen desserts, chocolates, and quick noodles are all made with alginate. Textiles, paper, and pulp processing are just a few of the many applications it has. In terms of biocompatibility, cost-effectiveness, and toxicity, alginate outperforms other commonly used thickening agents. The global alginate market is predicted to grow significantly due to increased demand for the product in the production of culinary products such ice cream, yoghurt, and bakery goods. Furthermore, major regulatory authorities such as the FDA and the European Commission have permitted the use of alginates in the food and beverage industry, resulting in an increase in demand. Propylene glycol alginate (PGA) is utilised in salad dressings and brews because of its improved solubility at low pH values. Juices, salad dressings, ice creams, spreads, flans, bakery creams, meat and fish coatings, confectionery, and a range of health foods all contain alginates.

and for the Middle East and Africa Alginate Market size is expected to reach a valuation of USD 46.07 million by 2030, growing at a CAGR of 4.50 % during the forecast period (2022–2030). The expansion of the food and beverage sector in BRICS and the Middle East, owing to rising domestic consumption, is predicted to boost alginates consumption. Growing product applications in the bakery and confectionary industries are expected to drive market growth in Latin America in the coming years.

Market Dynamics

Market Driving Factors

• Growing Demand in Paint and Dyes Industry: The Middle East's paint and coatings sector is expanding as a result of its usage in diverse industries like automobiles, construction, and the wood industry, among others. There are certain uses for alginates that are unrelated to their viscosity or gel characteristics. They operate as stabilisers in paint and dyes, ensuring that the colours are equally distributed throughout the product and do not settle or precipitate out, ensuring the paint and dye products' lifetime. Hence, the growing Paint Industry would probably result in increased demand for Alginates in the region.

• Alginate's Market Share in the Food Industry Is Growing: In the food industry, alginate is primarily used as an emulsifier, thickening agent, and gelling agent. Alginate's high demand in the food industry is mostly due to its expanding acceptance, which is fuelled by widely available raw materials. The product is used to make sauces, pastry products, and confectionery. Because of increased domestic demand, the food and beverage industry in LAMEA is likely to be a major driver of the change.

Market Restraining Factors

• Availability of Seaweed (Raw Material): Apart from manufacturing Alginates, seaweed has a variety of industrial applications, which produces a shortage and scarcity of the material, which can stifle market growth. Massive demand for seaweed for other applications, such as carrageenan gum extraction, is expected to limit raw material availability. In addition, the weather conditions in the major harvesting economies have a significant impact on seaweed market production.

Key Market Opportunities

• Textile Industry Expansion in LAMEA: Alginates are utilised in a number of items, including meals, pharmaceuticals, and medicine, and are growing in popularity in LAMEA. In the textile business, sodium alginate has a long history, particularly in the areas of warp sizing, printing paste, and dyeing finishing. The most common and essential of these three applications is printing paste. Sodium alginate is commonly used as a paste for reactive colours due to its unique properties. The printing paste sodium alginate can be used on cotton, silk, wool, and even synthetic fibres. Low-viscosity sodium alginate, on the other hand, aids in the stability of printing and the content of the printing paste. As LAMEA's textile sector is likely to grow, alginate demand is expected to climb over the forecast period.

Regional Analysis

The LAMEA Alginate Market is expected to reach USD 47.98 million by 2030, growing at a CAGR of 5.20% over the forecast period (2022–2030), while the Middle East and Africa Alginate Market is expected to reach USD 46.07 million by 2030, growing at a CAGR of 4.50% over the forecast period (2022–2030). Alginates consumption is expected to rise as the food and beverage sector expands in BRICS and the Middle East, owing to increased domestic demand. In the next years, rising product applications in the bakery and confectionary industries are likely to propel market expansion in Latin America.

According to alginate production, Brazil is the leading producer, accounting for the majority of market share in the Latin America. Brazil and Argentina are predicted to account for the majority of value and have a prosperous market in the future.

Saudi Arabia is the world's biggest producer of alginate, with the majority of the Middle East and African market. Saudi Arabia and the United Arab Emirates are expected to account for the majority of value and have a promising future market.

South Africa is one of the top 20 pulp producers in the world, and it produces a lot of paper and paper goods, with a lot of sales. There are numerous opportunities given by new technologies and innovation in the country, including recyclable paper and lightweight, eco-friendly consumer packaging, which is why demand for Alginate is expected to increase.

Segmental Analysis

The LAMEA alginate market is broken down into four categories: product, type, application, and geography.

The alginate market in the region includes sodium alginate, calcium alginate, potassium alginate, propylene glycol alginate, and others. The sodium alginate segment is the most important in terms of volume, accounting for around 41.4% of the business. An increase in demand for sodium alginate as an active dyestuff in the food & beverage, pharmaceutical, and textile sectors is estimated to drive market growth over the forecast period.

Sodium alginate is frequently utilised as a size agent in the paper industry, despite the product's low consumption volume. The chemical is commonly employed as a thickening and gelling agent in the food industry. Sodium alginate is used to make sauces, dressings, whipped cream, and jellies, among other things, in the food industry. Because of its superior physicochemical and biocompatible features, sodium alginate is expected to fuel market growth in tissue engineering, pharmaceutical formulations, and clinical wound therapy. The pharmaceutical industry's production of advanced sodium alginate-based solutions, such as gel matrix tablets, to increase targeted intestinal absorption is also likely to drive market growth.

The alginate market in the region is divided into two types: high M and high G. High G has a stronghold on the market. High G alginates are alginates with a high guluronic acid concentration. These goods have a variety of uses, including food, cosmetics, and medications. High G-type alginates have a buckled chain structure, and gel formation is slower than high M-type alginates.

The composition of high G and high M blocks in alginate-based medical dressings varies depending on the manufacturer. High G alginate has a higher demand among food and beverage customers because to its better gelling capabilities. Increased product flexibility is one of the attractive properties for its application in the pharmaceutical industry, and it is expected to fuel market expansion.

Culinary, medicinal, industrial, and other uses make up the alginate market in the region. In terms of revenue, the food application segment dominates the market. The food industry is predicted to grow quickly during the next eight years as a result of rising disposable income and high food consumption, as well as a growth in the global population.

Furthermore, the growing use of organically derived items such as alginate as a food ingredient is expected to emerge as a key driver for the alginate market's rise, owing to higher health-related concerns. Because of its improved product stability and effectiveness over a wide temperature range, propylene glycol ester alginate is expected to see increased demand in the region as a thickening agent, stabiliser, and flavouring adjuvant.

Impact of covid-19

The automotive industry is critical to the economy's growth. However, during the second and third quarters of 2020, the COVID-19 outbreak impacted the whole automotive supply chain, affecting new car sales in FY 2020.

South America is most affected by COVID-19, with Brazil leading the way, followed by Ecuador, Chile, Peru, and Argentina. South America's government (SAM) has taken a number of steps to protect its citizens and stem the spread of COVID-19. South America is expected to have fewer export revenues as commodity prices fall and export volumes fall, particularly to China, Europe, and the United States, which are all significant trading partners. The manufacturing industry, especially automotive manufacturing, has been damaged by containment measures in various South American countries. Due to the pandemic, major automotive manufacturers have also temporarily halted manufacturing in the region as a cost-cutting move. Furthermore, the automobile disc brake industry has been significantly affected in 2020 due to a lack of raw materials and supply chain disruption.

The Automotive Brake System control module of a vehicle is meant to alert the driver with a warning light if the system fails. The module itself is rarely defective; instead, the sensors or the wiring to the sensors are frequently defective. The most typical cause of dysfunction is when the Automotive Brake System is contaminated with particles or metal shavings. There is no signal continuity when sensor wiring is destroyed. Brake fluid becomes contaminated in corrosive situations, and the hydraulic unit fails to function.

Recent Developments