Market Overview
Naturally occurring alginic acid, often known as algin or alginate, is produced by both certain bacteria and sea brown algae. It can be used in various contexts. When it comes to tissue engineering, drug delivery, in vitro cell culture, and wound healing, alginate in particular has shown great potential, making it either a promising biomaterial in its own right or a vital building ingredient of other biomaterials.
The unique characteristics of alginic acid allow for the synthesis of alginate hydrogels and alginate derivatives with enhanced capabilities. These characteristics include biocompatibility, mild conditions required for gelation, low toxicity, a low cost, and simplicity of changes.
Alginate Market Size
The global alginic acid market was worth USD 768.5 million in 2021 and is expected to rise to USD 1117.8 million by 2028 at a CAGR of 5.5%.
The increasing demand for the product in food applications as a thickening agent, emulsifier, and gelling agent is a key factor in the market’s anticipated expansion. The rising popularity of natural ingredients and the food industry’s growing acceptance of the product are the primary forces propelling sales.
Growth in the international market is also anticipated to be fueled by regulatory grants from bodies such as the Food and Drug Administration (FDA) of the United States and the European Commission. In the pharmaceutical applications market, the United States is a top player.
Market Segmentation
Based on end use, the global alginic acid market is divided into many submarkets, such as food and beverage, pharmaceutical, industrial, and others. The industrial sector dominated the market in 2021 and is expected to maintain its dominance throughout the forecast period. In the textile printing industry, alginates mix cellulose with fibers to act as a thickening agent. Starches are replaced with them because of their negative effect on reactive dyes. Used in the surface resizing step in papermaking. When combined with starches, the material produces a uniform layer that barely causes the paper to puff up. Wax papers contain alginate, a chemical that aids in keeping wax where it belongs on the paper.
North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America are the five geographical segments that make up the global alginic acid market. We anticipate that Asia-Pacific will continue to dominate throughout the forecast period, eventually accounting for more than 35% of total anticipated revenues in 2021. In the Asia-Pacific region, many different manufacturers supply the majority of the alginates sold.