The Rise of Eco-Friendly Products: Sodium Alginate Market on the Up and Up

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SkyQuest’s Sodium Alginate Market report provides actionable insights for individuals interested in valuable data, trends, and opportunities in a rapidly growing industry. Additionally, the report is produced and published concisely, making it accessible to various audiences, from industry experts to market readers. Finally, one can gain an in-depth understanding of the primary and secondary market drivers, providing them with a comprehensive outlook of the current market situation and future projections.

Westford USA, April 21, 2023 (GLOBE NEWSWIRE) — According to the latest report by SkyQuest, the Sodium Alginate market is expected to reach USD 809.98 million by 2030, with a CAGR of 4.47% during the forecast period of 2023-2030. The market is expected to experience significant growth in North America and Asia Pacific due to the increasing demand for sodium alginate in various end-use industries. These include the food and beverage industry, the pharmaceutical industry, the textile industry, and the paper and pulp industry. SkyQuest report indicates that the food and beverage industry is one of the major end-users of sodium alginate. The study predicts a CAGR of 7% during the projected period due to the increasing demand for convenience foods, bakery and confectionery products, and dairy products.

Furthermore, the global market size of natural dyes is expected to reach USD 4.5 billion by 2025, growing at a CAGR of 6.9% during the forecast period. As a natural and biodegradable thickener and binder, Sodium Alginate is expected to play a significant role in developing and adopting natural-based textile dyes and pigments.

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Browse in-depth TOC on “Sodium Alginate   Market”

  • Pages – 242
  • Tables – 63
  • Figures – 69

The market for sodium alginate is rapidly gaining importance as it is extensively used in various industries, including food and beverage, pharmaceutical, textile, and paper industries. Its unique properties, such as thickening, stabilizing, and gelling, makes it a critical component in the food industry. The textile industry also relies on sodium alginate as a binder and thickener in printing and dyeing processes. As the demand for natural and eco-friendly products continues to rise, the sodium alginate market is expected to experience a substantial growth in the upcoming years.

Prominent Players in Sodium Alginate Market

  • KIMICA Corporation
  • Qingdao Rongde Seaweed Co. Ltd.
  • Algaia S.A.
  • DuPont de Nemours, Inc.
  • FMC Corporation
  • SNAP Natural & Alginate Products Pvt. Ltd.
  • Dastech International Inc.
  • J. Rettenmaier & Söhne GmbH + Co.KG (JRS)
  • IRO Alginate Industry Co., Ltd.
  • Qingdao Allforlong Biotech Co., Ltd.
  • Bright Moon Seaweed Group Co., Ltd.
  • Marine Chemicals Limited
  • CP Kelco
  • Ashland Global Holdings Inc.
  • Danisco A/S
  • KIMICA Canada Corp.
  • KIMICA Europe GmbH
  • Cargill, Incorporated
  • KIMICA India Private Limited
  • Linyi Jinda Group Co., Ltd.

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Food and Beverage Segment to Drive Higher Sales Due to its Natural and Eco-friendly Properties

Recent analysis indicates that the Sodium Alginate market’s rapid development in 2021 was mainly driven by the food and beverage segment and the trend is expected to continue from 2022 to 2030. This popularity stems from its natural and eco-friendly properties, making it a preferred alternative to synthetic additives. SkyQuest report predicts that the global demand for sodium alginate in the food and beverage industry will reach USD 438.1 million by 2028, with a CAGR of 4.1%.

Moreover, North America is expected to become a significant player in the Sodium Alginate market from 2022 to 2030, with a projected CAGR of 4.82% during the forecast period. This growth is driven by rising demand for natural and organic food products and increasing use of sodium alginate in the pharmaceutical industry. FMC Corporation has announced plans to expand its production capacity of Microcrystalline Cellulose (MCC) and Sodium Alginate at its biorefinery in Newark, Delaware to meet the growing demand in various industries, including food and beverage, pharmaceuticals, and personal care products. This expansion highlights the increasing significance of sodium alginate in various applications and the efforts by companies to meet the growing demand.

Browse summary of the report and Complete Table of Contents (ToC):

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Food Grade Sodium Alginate Type Segment to Exhibit Strong Growth Due to Utilization of Sodium Alginate in Low-sugar Foods

The Sodium Alginate market is expected to be dominated by the food grade segment from 2021 to 2030, owing to the increasing demand for vegetarian and low-fat food products, as well as the utilization of sodium alginate in low-sugar foods.

The Asia Pacific region is predicted to remain the dominant player in the market until 2030, with a projected CAGR of 5.97% during the forecast period, fueled by the escalating demand from the food and beverage sector and the presence of key players in the region. The government initiatives are also expected to drive the market growth, such as the Indian Government’s focus on promoting eco-friendly products and developing the textile sector, increasing the demand for sodium alginate. Additionally, the growing trend of natural and eco-friendly products will likely propel the market growth in the region.

A comprehensive analysis of the major players in the Sodium Alginate market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavors to develop innovative solutions to cater to the growing demand.

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Key Developments in Sodium Alginate Market

  • DuPont (NYSE: DD) has announced the successful sale of its biomaterial business unit to the Huafon Group for approximately $240 million. The sale was completed on May 31, 2022. The Biomaterials business unit’s financial results were previously reported under Corporate & Other. In 2021, the biomaterials business unit recorded net sales of around $200 million.
  • KIMICA Corporation, a leading alginate manufacturer based in Tokyo, has opened a new building called “KIMICA HONKAN” as part of its 80th-anniversary project. The 3,923m2 building, located in Futtsu-city, Chiba-Prefecture, houses R&D laboratories, quality control laboratories, welfare facilities, and office spaces. With the expansion, KIMICA aims to meet the increasing demand for its products, while maintaining the highest quality standards and addressing health consciousness concerns. The building’s advanced technologies and environmental performance, along with two new warehouses, demonstrate KIMICA’s commitment to continued growth and innovation.

Key Questions Answered in Sodium Alginate Market Report

  • What specific growth drivers are projected to impact the market during the forecast period?
  • List the top companies in the market and explain how they have achieved their positions of influence?
  • In what ways do regional trends and patterns differ within the global market, and how do these differences shape the market’s future growth?

Related Reports in SkyQuest’s Library:

Global Soluble Dietary Fiber Market

Global Geosynthetics Market

Waterborne Coatings market

Global Sodium Alginate Market

Global Blue Ammonia Market

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