Latest News- Alginates Derivatives Market: Sodium alginate is expected to lead the Type segment during 2024-2028

The Alginates Derivatives Market is being driven by Growing usage of alginates in biomedical applications

The Alginates Derivatives Market is expected to grow at a CAGR of 4.36% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 125 million. In developed markets, such as the US, Canada, and the UK, there is a growing trend towards packaged food and beverages, including ready-to-eat (RTE) meals, instant mixes, and canned food. This preference is driven by several factors, including consumer awareness of the safety and reduced contamination risks associated with packaged foods. Additionally, factors such as rapid urbanization, increasing disposable income, and a rising number of women in the workforce have fueled the demand for convenience foods. As a result, the market for Alginates Derivatives, a key ingredient in the production of various food and beverage products, is expected to experience significant growth. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Type
  • Sodium alginate
  • Calcium alginate
  • Potassium alginate
  • PGA
  • Others
• Application
  • Food and beverages
  • Industrial
  • Pharmaceutical
  • Others
• Geography
  • North America
    • US
  • APAC
    • China
  • Europe
    • France
    • Germany
    • UK
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Growing usage of alginates in biomedical applications
• Growing consumer demand for natural food additives
• Rising demand for alginates and derivatives from textile industry

However, the market also witnesses some limitations, which are as follows:

• Challenges related to supply of raw materials
• Stringent government regulations
• Availability of substitutes

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Market Scope in Alginates Derivatives Market Research Report

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Research Analysis Overview

The Alginates Derivatives Market encompasses a range of products derived from Alginates, a natural polysaccharide primarily extracted from Brown Seaweed. Alginates are widely used as Disintegrants in Drug Formulation due to their ability to improve the dissolution rate of drugs. In the Food and Beverage (F&B) industry, Alginates Derivatives serve as Texturizing Agents, Emulsifiers, Stabilizing Agents, and Thickening Agents in Low-Calorie Foods and Convenience Foods. The production costs of Alginates Derivatives are influenced by the Extraction Process and Environmental Regulations. Biotechnological Applications of Alginates Derivatives include Emulsification, Controlled Release, Encapsulation, and Biocompatibility in various industries. Sodium Alginate is a commonly used derivative with excellent Gelling Properties, making it suitable for Water Treatment, Soil Conditioners in Agriculture, and as Divalent Cations Sequestrants. Alginates Derivatives offer numerous Environmental Applications, including Biotechnology, where they act as Stabilizing Agents and Thickening Agents. The versatility of Alginates Derivatives makes them essential in various industries, with continued research and development focusing on expanding their applications and improving production efficiency.

Market Research Overview

The global commodity chemicals market encompasses businesses primarily engaged in the production of industrial and basic chemicals, such as plastics, synthetic fibers, films, commodity-based paints and pigments, explosives, and petrochemicals. Notably, this market excludes companies producing diversified chemicals, fertilizers and agricultural chemicals, industrial gases, and specialty chemicals. According to Technavio, the market size is determined by the consolidated revenue generated by the manufacturers of industrial and basic chemicals. Key growth drivers for the commodity chemicals market include the increasing demand for plastic packaging, with plastic being the predominant material in the global packaging industry, and the continuous innovation in producing lightweight, corrosion-resistant materials for the manufacture of plastic packaging.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
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