Global Sodium Alginate Market: Overview
Sodium alginate is gaining popularity across all the end use industry because it is derived from seaweed, which makes it a sustainable chemical or bio based chemical. The global sodium alginate market is likely to grow at a healthy rate during the forecast period.
The rising demand from food and beverages industry is expected to push the global sodium alginate market to grow over the forecast period.
Transparency Market Research (TMR) report sheds some pertinent insights about the share, size, growth, and trends in the global sodium alginate market.
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The global sodium alginate market has witnessed few developments in the recent times, they include:
In 2018, the Science for Environment Policy introduced seaweed gel coating for modern and urban homes as a sustainable method to get rid of harmful air particles. It is one of its kind in innovative products for homes.
In 2018, European Commission approved DuPont Nutrition and Health to renounce its alginates business to JRS group, pioneer in manufacturing of functional additives from plant base.
Global Sodium Alginate Market: Key Trends
The growing awareness about the sustainable features of sodium alginates are paving the way for ample of growth potential in the global sodium alginate market. The ever increasing demand from the food and pharmaceutical industry are expected to carve growth opportunities in the sodium alginate market.
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Global Sodium Alginate Market: Drivers and Restraints
Factors influencing the growth of the global sodium alginate market are as follows
Wide Applications in Food Sector
Sodium alginate are widely used in food industry, they are used as emulsifiers in food items such as peanut butter, salad dressings, frozen desserts, and margarine etc. Increasing demand from bakery and confectionery is anticipated to drive the growth of the global sodium alginate market in the upcoming years.
Further, cost efficiency and easy availability is likely to surge the global sodium alginate market in the succeeding years.
Availability of substitutes such as corn starch, natural gums, and maize starch may dampen the market. Regardless of the restraints, the global sodium alginate market is projected to grow due to rising disposable income, rapid urbanization, increasing demand for convenience food.
Textile Industry to Boost Growth
The textile industry is resorting to sustainable methods of dyeing and printing, owing to rise in demand for technical grade sodium alginate. Textile Industry is emerging is one of the lucrative markets for the global sodium alginate market during the forecast period.
Additionally, the pharmaceutical industries use them for making of wound healing dressings, the quick and complete wound healing leads to the growth of the global sodium alginate market.
Global Sodium Alginate Market: Geographical Analysis
The global sodium alginate market is spread across North America, South America, Europe, Asia Pacific, and Middle East. Europe has large number of manufacturers of alginate and they also produce value added products from the alginate, owing to the surge in the global sodium alginate market.
Asia pacific is projected to grow at a healthy rate during the forecast period and penetrate the market. The growth can be accounted to factors such as rapid urbanization and growing population increasing the demand for food and textile products. Additionally, the better development of pharmaceutical industries is also expected to provide growth potentials to the global sodium market over the forecast period.
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