Alginates find its application in a wide range of industries. Alginates can be explained as the salts of calcium, sodium or potassium precipitated with algae. The growing demand for alginates in various sectors will open the doors for the growth of calcium alginates.
Calcium alginate market is expected to grow at a significant CAGR in the forecast period because of its wide range of application in different industries. The demand for calcium alginate in the food and beverage industry is growing because of the increasing consumption of products like beer, yogurts and ice creams since it provides high quality gelling to these products.
Increase in the spending on medicines will have a positive impact on the growth of calcium alginate market since the product is mainly used in the pharmaceutical industry for the production of controlled release drugs due to superior product performance. The rising demand for sodium alginate will uplift the growth of calcium alginate as it is used in the manufacturing process of sodium alginate too.
Initiatives taken by companies and government for the production of advanced grades of calcium alginates to attract consumers is the primary driving force for the growth of calcium alginate market. Increasing applications of calcium alginate in the bakery and confectionary sector will also create many opportunities for the growth of this market. Rising consumption of emulsifiers in frozen desserts, chocolates and salad dressing will further propel the demand for calcium alginates.
Calcium alginates are highly used in the medical and clinical sector as the wound dressing. Due to intensive research and development and rising demand for calcium alginate wound dressing because of its superior performance of reduction in healing time will result in increasing the growth of this market. Calcium alginates are used in a wide array of industrial applications like textile, adhesives, printing, ceramics, and others which will further drive the growth of the market.
Apart from the availability of cheaper alternatives, calcium alginates require a significant amount of seaweed as a raw material which can hinder the growth of this market.
The calcium alginate market is segmented by the product type, applications, and region.
By the product type, calcium alginate market is segmented into high M and high G calcium alginates
By the applications, calcium alginate market is segmented into Medical and Clinical, Pharmaceutical, Food and Beverage, Industrial and others
On the basis of the geographies, the calcium alginate market is segmented is segmented across seven key regions; Europe, North America, Middle East and Africa, the Asia Pacific excluding Japan, Latin American and Japan. Calcium alginate market is expected to have a low CAGR in the developed economies such as North America and Europe as compared to the developing economies because of the high growth of industrial sector in these regions. Food & Beverage and Textile industry continue to hold the highest market share of the calcium alginate market. North America and Europe hold the largest market share of calcium alginate market because of the high consumption of calcium alginates in the food and beverage sector. Asia Pacific is expected to grow at a high CAGR because of the growing industrial and pharmaceutical sector. The rising consumption of dairy, meat, and convenience food products and the growing demand for food processing industry are expected to drive the growth of Asia Pacific region. The use of calcium alginate is permitted by FDA and other regulating bodies resulting in increasing the growth of this market.
Market: Key Players
Few of the primary key players active in the calcium alginate market includes Kimica Corporation, Danisco (a subsidiary of Dupont), FMC Corporation, Dastech International, Inc., SNAP Natural & Alginate Products Pvt. Limited and others. The strategies acquired by the top players are to promote sustainable production techniques and research and Development for the production of better and more efficient calcium alginates.