According to Future Market Insights research, during the projected forecast period, the Alginic Acid market is expected to grow at a CAGR of 5.8%. The market value projected to increase is from USD 816.8 million in 2022 to USD 1,435.4 million by 2032. The Alginic Acid market was valued at USD 789.2 million at the end of 2021 and is projected to exhibit Y-o-Y growth of 3.5% in 2022.
| Attributes | Details |
|---|---|
| Market Size Value in 2022 | USD 816.8 million |
| Market Forecast Value in 2032 | USD 1,435.4 million |
| Global Growth Rate (2022 to 2032) | 5.8% CAGR |
| Forecast Period | 2022 to 2032 |
| USA market share of Alginic Acid | 33.4% |
Based on their pigment, seaweeds are divided into three categories: brown, red, and green. The hydrophilic colloidal polysaccharide alginate, commonly known as alginic acid, is derived from brown seaweed. It is a widely used naturally occurring linear copolymer with numerous industrial uses. Brown algae and alginic acid themselves are the salts of sargassum seaweed that are referred to as alginate. It can be found in the cell walls of brown algae.
Its powder ranges in hue from white to yellowish brown. The majority of processed food contains it. Alginic acid is used to make antacids when mixed with magnesium carbonate and aluminum hydroxide.
Don't pay for what you don't need
Customize your report by selecting specific countries or regions and save 30%!
In the Historical outlook of the Alginic Acid market, the value increased from USD 687.7 million in 2017 to USD 789.2 million in 2021. The CAGR (2017-2021) is observed to be 3.5%.
The food industry is the main driver of the global alginic acid market. The need for processed foods, meat, and dairy products in the food and beverage industries is one of the many drivers driving the alginic acid market. Alginic acid and its salts have a wide range of medical uses, including treating illnesses, eradicating infections, and dressing wounds.
Additionally, alginic acid and its salts' ability to absorb water make them popular on the market for use in dehydrated goods like paper and textiles. The widespread industrial and commercial application of alginic acid draws potential market participants to the substance and its salts, which help the market expansion.
For the Future projection of the Alginic Acid market, the value increased from USD 816.8 million in 2022 to USD 1,435.4 million in 2032. The CAGR (2022 to 2032) is estimated to be 5.8%.
In recent years, the North American alginic acid market has seen significant growth. This is due to the growing demand for natural and organic products, as well as the increase in health consciousness among consumers. The market is expected to continue to grow at a steady pace over the next few years.
The USA contributes 33.4% of total revenue for Alginic Acid Market.
The Europe Alginic Acid market is growing rapidly and is expected to continue to grow in the coming years. The market is driven by the increasing demand for natural and organic products, as well as the rising health consciousness of consumers. The market is also being supported by the growing number of healthcare facilities and the availability of raw materials.
Germany contributes 29.9% to Alginic Acid market and United Kingdom CAGR for the forecast period is 3.8%.
The Asia Pacific region is the largest market for alginates, followed by North America and Europe. The region is expected to grow at the highest CAGR during the forecast period. The growth of the Asia Pacific market is driven by the increasing demand from end-use industries such as food & beverage, pharmaceuticals, and cosmetics in countries such as China and India.
Japan contribution to Alginic Acid market is 10.8% of the total market share, India and China are market drivers in the Asia Pacific and their latest CAGR in Alginic Acid market is 6.3% and 4.6% respectively.
The Latin American region is expected to be one of the fastest-growing markets for alginic acid. The Latin American market for alginic acid is driven by the growing food and beverage industry in the region.
The market is driven by factors such as the growing demand for processed food and beverages, rising health consciousness among consumers, and the increasing use of alginates in the pharmaceutical industry.
From the Oceania region, Australia is contributing 2.2% of the total revenue of Alginic Acid market.
Principal Consultant
The salts of alginic acid are used to segment the market. Alginate made of sodium, calcium, and potassium are divided up. Sodium alginate, having the chemical formula NaC6H7O6, is the sodium salt of alginic acid. It's taken out of brown seaweed. The chemical formula of potassium alginate salt, which is derived from seaweed, is KC6H7O6.
Calcium is added to sodium alginate salt in order to create calcium alginate. Chemically, it is C12H14CaO12. Magnesium, lithium, and propylene glycol alginate are further divisions.
Alginic acid is utilized in the textile and paper industries to waterproof and fireproof materials. It serves as a thickening agent in drinks and jellies. Alginic acid is utilized in technical and industrial settings for casting, welding rods, textile screen printing, dyes, and paints. It is frequently utilized in face masks in the leisure industry. It functions as preserves, frozen seafood, and meat binder in cuisine and beverages. Alginic acid is utilized in the arts and crafts industry for taxidermy, fine art castings, and craft castings.
The market for alginic acid is highly competitive, with a large number of manufacturers vying for market share. The leading manufacturers are BASF, DuPont, and Cargill, which together account for more than 50% of the global market.
The competitive landscape is driven by factors such as the increasing use of alginates in the food and beverage industry and the growing demand for alginates from the pharmaceutical industry. The leading players in the market are constantly innovating and introducing new products to stay ahead of their competitors.
Get the data you need at a Fraction of the cost
Personalize your report by choosing insights you need
and save 40%!
| Attribute | Details |
|---|---|
| Forecast Period | 2022 to 2032 |
| Historical Data Available for | 2017 to 2022 |
| Market Analysis | USD million for Value and Units for Volume |
| Key Regions Covered |
|
| Key Countries Covered |
|
| Key Segments Covered |
|
| Key Companies Profiled |
|
| Report Coverage | DROT Analysis, Market Forecast, Company Share Analysis, Market Dynamics and Challenges, Competitive Landscape, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The global Alginic Acid market will reach a valuation of USD 816.8 Mn by the end of 2022.
The U.S. Alginic Acid Market is contributing 33.4% of total market share which values around USD 272.8 Mn.
U.S., Canada, Mexico, Argentina, Brazil, Germany, U.K., France, Italy, Russia, Spain China, Japan, India, Australia are the major countries driving demand for Alginic Acid Market.
The Germany Alginic Acid Market is contributing 29.9% of total market share which values at USD 244.2 Mn.
• BASF • DuPont • Cargill • SNAP Natural & Alginate Products • KIMICA Corporation Above are the top 5 market players in Alginic Acid industry.
The Japan Alginic Acid market contribution is 10.8% of total market share.
The India Alginic Acid market will grow at 6.3% CAGR between 2022 and 2032.
The global Alginic Acid market is forecasted to surpass USD 1,435.4 Mn by the end of 2032.
Explore Food and Beverage Insights
View Reports
Alginic Acid Market
