The ‘Sodium Alginates Market Size Global Report, Share, Price, Analysis and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global sodium alginates market, assessing the market on the basis of its segments like applications, end uses, and major regions.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
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The key highlights of the report include:
Market Overview (2018-2028)
- Forecast CAGR (2023-2028): 4%
The market is being driven by the versatility of sodium alginates in food and beverage applications. It is utilised as a gelling agent, emulsifier, and thickener, among others in a variety of food and beverage products such as ice creams, noodles, and milk drinks, among others. Therefore, the flourishing food and beverage industry across the emerging economies is a major driving factor of the sodium alginates market.
Additionally, the increasing popularity of alcoholic beverages such as flavoured beer is generating a demand for sodium alginates. Moreover, the increasing population and rising disposable income are propelling the demand for snacks and premium packaged beverages which are invigorating factors of the market.
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Meanwhile, sodium alginate is an essential ingredient in the textile industry as a thickening agent in liquid fabric dyes. In this regard, the thriving textile sector, driven by changing consumer lifestyles, rapid urbanisation, and increasing inclination of youth towards fashion and clothing, is leading to a heightening incorporation of sodium alginates in modern fabrics.
In terms of regions, Europe accounts for a significant share in the sodium alginates market. The guiding factors of the market in the region include expanding growth opportunities for major end use industries including pharmaceuticals and textiles, among others. The growing competition between the major end use market players to gain a competitive edge is likely to infuse the requirement for sodium alginate to produce better quality product.
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Sodium Alginates Industry Definition and Major Segments
Sodium alginate refers to a chemical compound which is neutral in nature and produces a viscous solution when added to hot or cold water. The compound is extracted from marine brown algae which makes the downstream products of sodium alginate biodegradable. The major applications of sodium alginate include textile printing and food processing, proving to be crucial for the sodium alginates market growth.
Based on application, the market can be segmented into:
- Stabiliser
- Thickener
- Gelling Agent
- Emulsifier
- Others
The market can be broadly categorised based on end use into:
- Food and Beverage
- Pharmaceuticals
- Textile
- Pulp and Paper
- Coating
- Others
On the basis of region, the market can be categorised into:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Sodium Alginates Market Trends
Sodium alginate is a crucial component used in the manufacturing of coatings which are extensively applied in the construction sector. Hence, the robust urban growth, infrastructure development activities, and rapid development of commercial and industrial structures across the emerging economies are the key trends of the sodium alginates market.
Meanwhile, sodium alginate is also used as a gelling agent in pharmaceutical preparations. In addition, it is also used in various oral drugs. Hence, the growing research and development activities in the pharmaceutical industry aimed towards curbing the cases of chronic diseases are the other major market driving trends. The thriving e-commerce sector is likely to add to the market growth by propelling the sale of oral drugs via online delivery platforms.
Moreover, sodium alginate is a biodegradable compound readily soluble in water, which allows reduced pressure on wastewater management systems. In this sense, the rising investments in the wastewater management projects are likely to propel the demand for the sodium alginates market in the coming years.
Furthermore, sodium alginate is also utilised in various end use products such as pet foods, welding rods, pulp and paper, and cosmetics, among others. These sectors are also witnessing an increased expansion which are likely to be market bolstering trends.
Key Market Players
The major players in the sodium alginates market report are J. Rettenmaier & Söhne GmbH + Co KG, KIMICA Corporation, Zibo Wangfei Seaweed Tech. Co., Ltd., Qingdao Gfuri Seaweed Industrial Co., Ltd., Meron Group, and SNP, Inc., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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