Press release
Alginate Market Growth to Observe by 2024
Alginates are type of hydrocolloids which are extracted from brown seaweed. It has different functional properties such as thickening agent, ability to form gel and its usage to form films of sodium and calcium. Alginate has varieties of application in food, textile, printing, dyeing, pharmaceutical and in cosmetic industry. Apart from this, it also has application as binding agent for welding rods and in preparing animal feed. Europe and Asia Pacific dominates the alginate market over the forecast period in terms of volume.
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Market Drivers: Alginate Market
Key market drivers which influence the demand of alginate in market is from the food and beverage manufacturers due to its functional properties such as thickening agent, gelling agent, stabilizer, emulsifier and film-forming property. Reason behind its increasing demand in food industry is due to its extraction from natural seaweeds, one of safest food additive in food industry and also certified by FAO/WHO. Food and beverage manufacturers primarily used alginate as thickening agent and texture-improver. On the other side, it is also gaining its demand from textile industry as it is primarily used for printing, designing and dyeing on cotton and jute fabrics.
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Key players: Alginate Market
Some of the key players which are operating in alginate market are: DuPont, KIMICA Corporation, Qingdao Rongde Seaweed Co., Ltd., Prestige Brands, Inc., Cargill, Incorporated, Qingdao Liyang Seaweed Industrial Co.,Ltd, Shandong Jiejing Group Corporation, Prinova Europe Limited, Compañía Española de Algas Marinas S.A. and A2 Trading GmbH.
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