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Alginates & Derivatives Market By Manufacturers, Type, Application, And Region 2019
The global alginates & derivatives market is projected to reach a value of $409.2 Million by 2019 growing at a CAGR of 3.8% from 2014 to 2019.
Alginates are used as food additives to improve, modify, and stabilize the texture of foods. The increase in consumption of processed and convenience food products in emerging markets such as Asia-Pacific and Latin American countries have contributed to an increase in the sales of alginates and their derivatives. The demand in developing regions is driven by the increase in disposable income.
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In Europe and North America, alginates are particularly used in the processing of meat, fish, dairy products, creams, sauces, and dressings. In most countries, the industrial textile sector is the largest user of alginates. The consumption of alginates in the pharmaceutical sector is less in developing countries as compared to developed countries, which presents untapped potential for the market.
Globally, the market is driven by growing demand for convenience foods, dairy, and meat products in the food & beverage industry. Medicinal properties of alginates, which are used to heal wounds and cure infections and other ailments, are driving the alginates market in most developing regions. Growing food product innovations to incorporate natural ingredients and increasing demand for health and wellness products are emerging opportunities for the alginates & derivatives market.
Alginates & Derivatives Market Share (Value), By Region, 2013
Source: Company Presentations, Company Websites, Secondary Data, Primary Interviews, and MarketsandMarkets Analysis
*Others: Ammonium alginate, magnesium alginate, zinc alginate, alginic acid, triethanolamine alginate, and value-added alginates
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The figure above depicts the share of North America, Europe, Asia-Pacific, and RoW in the global market. The alginates & derivatives market was the largest in North America, in 2013.
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