The global food grade alginate market is expected to garner a market value of USD 10 Million in 2023 and is expected to accumulate a market value of USD 17.91 Million by registering a CAGR of 6% in the forecast period 2023 to 2033. The market for food grade alginate market registered a CAGR of 4% in the historical period 2018 to 2022. Increased acceptance from the food and pharmaceutical industry owing to higher demand for natural ingredients.
| Attribute | Details |
|---|---|
| Food Grade Alginate Market (2023) | USD 10 Million |
| Food Grade Alginate Market (2033) | USD 17.91 Million |
| Market CAGR (2023 to 2033) | 6% |
Food grade alginate also known as alginic acid, mainly derived from brown algae species. The USA Food and Drug Administration (FDA) in title 21 of CFR classified food grade alginate as a GRAS substance and lists its usage as a thickener, emulsifier, stabilizer, and gelling agent.
The European Commission (EC) registered food grade alginate and its salts (E400-E404) as a sanctioned food additive. Alginate is extensively used in the food and beverage industry as a thickening agent or used to form films and membranes, and is widely used in dairy-based frozen products as a stabilizing agent. Sodium alginate is the most common salt of alginate.
Food grade alginate is widely consumed by food manufacturers as an ingredient owing to high preference to restructure foods such as meat or fish. The alginate market is estimated to increase suggestively due to swift growth in end-user productions such as to prevent moisture migration, and improving bake stability.
Not just the food manufacturers, but the usage of aligates is common across the pharmaceutical industry too. The wound care and wound dressing products use calcium aligates as calcium-based fibers enable accelerated healing. In addition to this, the North American and European food industries approve of calcium alginate to be used as an anti-foaming agent to ensure thickness and increase the viscosity of food products.
In addition to this, potassium alginate has extensive application in the pharmaceutical industry owing to superior thickening and stabilizing properties. Along with this, the significant properties of potassium alginate reduce blood sugar and cholesterol levels in humans, supporting the market growth.
Various startups are entering the market and contributing to the bolstering growth of the market. One such startup is Back of the Yards Algae Sciences (BYAS). It is a sustainable algae-based ingredients company that works to find new uses for algae as sustainable, natural ingredients for food colorants and fish meat flavors; algae protein powders for plant-based meat; biostimulants to improve yield and quality in vertical farming and growth media to move cell-based food from the laboratory to the table.
Asia Pacific food grade alginate market is anticipated to grow significantly, as the industries in this region are the significant producers and exporters of sodium alginate. Food grade alginate demand is projected to gain high traction in dairy-based food manufacturing in the region will positively impact the market growth in the short term forecast period.
Steady economic growth in developing countries such as China, India, Brazil, and ASEAN countries, and rising per capita disposable income and expenditure in these regions, are the main factors that are driving the market demand.
Key players are continuously working towards developing outstanding products and are engaging in various acquisitions and mergers in order to gain a significant share. For instance, In 2021, DuPont's Nutrition Biosciences Business merged with IFF, which is an expert in the sector of food and biosciences.
According to the company, the merger can enable IFF's expertise in food flavors and fragrances; this can help DuPont to lead positions in probiotics, enzymes, and food protection. Thus, this merger strategy is based on expanding business and sustaining a dominating position in the market.
Food grade alginate also known as alginic acid, mainly derived from brown algae species. The USA Food and Drug Administration (FDA) in title 21 of CFR classified food grade alginate as a GRAS substance and lists its usage as a thickener, emulsifier, stabilizer, and gelling agent.
The European Commission (EC) registered food grade alginate and its salts (E400 to E404) as a sanctioned food additive. Alginate is extensively used in food and beverage industry as a thickening agent or used to form films and membranes, and is widely used in dairy-based frozen products as a stabilizing agent. Sodium alginate is the most common salt of alginate.
Food grade alginate is widely consumed by food manufacturers as an ingredient owing to high preference to restructure foods such as meat or fish. The alginate market is estimated to increase suggestively due to swift growth in end-user productions such as to prevent moisture migration, and improving bake stability.
Asia Pacific food grade alginate market is anticipated to grow significantly, as the industries in this region are the significant producers and exporters of sodium alginate. Food grade alginate demand is projected to gain high traction in dairy-based food manufacturing in the region will positively impact the market growth in the short term forecast period.
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The market is attributed to the widespread use of food grade alginate in food and beverage industry based products is witnessing an upsurge in demand owing to the fact that it is one of the most valuable food additive available in the market.
The factors facilitating the growth of the market is the growing application of alginate in the production of food grade alginate-based edible coatings and films for improving/maintaining quality and prolonging the shelf-life of seafood, fruits, meat, poultry, vegetables, and cheese by reducing dehydration, enhancing product appearance, controlling respiration and improving mechanical properties, etc.
The ever-increasing bakery and confectionery industry is the primary driver for the escalating demand for the food additives, producers utilize the thickening effect of the acid which, when dissolved in water, thickens the solution to form dressings and sauces.
The manufacturers of food grade alginate are witnessing increasing demand in food and beverage industry as emulsifiers is projected to have an optimistic impact in order to create alginate sub-micron beads for microencapsulation in food processing.
Increasing number of governing approvals from associations like FDA and USA Department of Agriculture regarding the use of food grade alginate in is expected to lift the demand for market over the forecast.
Few industry participants include
The manufacturers are mostly involved in the production of food grade alginate and their byproducts for their utilization in various sectors. A large number of companies are primarily involved in mergers, acquisitions, and joint ventures to enhance their product portfolio and attain a significant presence in the market.
In terms of volume, Asia Pacific accounts for the dominating share in the global food grade alginate market in 2019. The region is likely to experience the significant growth in the next few years. Thus, it is anticipated to maintain its dominance during the forecast period.
Asia Pacific and North America are predicted to offer fast-growing markets for food grade alginate during the forecast period. Increasing demand for food additives from the food industry and rapid developments in the dairy-based product industry is projected to drive the demand for food grade alginate market in these regions.
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The food grade alginate market report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases).
The report also features a complete qualitative and quantitative assessment by analysing data gathered from industry analysts and market participants across key points in the industrys value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the food grade alginate market report projects the attractiveness of each major segment over the forecast period.
| Estimated Global Business Size (2024E) | USD 308.3 million |
|---|---|
| Projected Global Business Value (2034F) | USD 897.3 million |
| Value-based CAGR (2024 to 2034) | 11.3% |
| Market Size in 2023 | USD 363 million |
|---|---|
| Market Size by 2033 | USD 471 million |
| Forecasted Value CAGR (2023 to 2033) | 2.6% |
| Expected Market value in 2023 | USD 238.5 Million |
|---|---|
| Projected Market Value in 2033 | USD 419.1 Million |
| Growth Rate (2023 to 2033) | 5.8% |
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