Table of Contents
The market for alginates & derivatives is observed to be growing at a modest rate in developed economies such as Europe and North America as compared to developing regions due to the matured industrial sector in the former. The textile and food & beverage industries are still major consumers of alginates and this consumption is expected to grow at a healthy rate. As alginates act as natural binding agents, texturants, gelling and thickening agents and because consumer preference for chemical additives is declining, the alginates & derivatives market for the food & beverage industry is expected to continue to grow. The North American region formed the largest market for alginates & derivatives, and was valued at $120.3 million, in 2013.
The Asia-Pacific region is projected to be the fastest-growing market for alginates, at a CAGR of 5.6% from 2014 to 2019. The industrial sector usage of alginates is comparatively lesser in this region as compared to developed regions, which presents food processing industries with immense untapped potential in this region.
The level of food processed in Asian countries, which are growing economically, is low. However, the processed food industry is expected to prosper in the near future. The positive growth in the food processing industry and growing demand for processed meat, dairy, and convenience food products in the Asia-Pacific region will drive the alginates & derivatives market in this region.
The market is dominated by many large companies and comprises various regional large- and medium-scale players. The key players identified in the spice industry are FMC Corporation (U.S.), Cargill Inc. (U.S.), KIMICA Corporation (Japan), and E.I. DuPont de Nemours (U.S.).
The segments of the alginates & derivatives market considered for this study include types, applications, and regions. All growth parameters in individual segments have been considered. The industrial and food & beverage sectors held the majority share of the alginate & derivatives market in the year 2013.
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