Regional and country-level analysis and forecasts of the North America Alginates Market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions those are still untapped
According to the report “North America Alginates Market by Type (Sodium Alginate, Calcium Alginate, Potassium Alginate, PGA, Others) by Application (Food & Beverage, Industrial, Pharmaceuticals, Others), and by Region - Industry Analysis, Size, Share, Growth, Trends, and Forecasts (2016–2021)” published by Market Data Forecast, the North America Alginates Market was worth $128.44 million in 2016 and estimated to be growing at a CAGR of 3.96%, to reach $155.97 million by 2021.
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The market shows quite a lot of potential in the mentioned period. The market is gaining momentum due to the growing demand for improving food textures.
Also, uses of alginate such as in textile printing, welding rods coatings, immobilizing biocatalysts, pharmaceutical products, paper manufacturing and binders for fish feeds and releasing agents is expected to fuel growth of alginate market.Furthermore, increase in consumption of processed convenience food products is propelling the growth of North America alginate market over the given forecast period.
In the industrial textile sector, alginates are mostly used as thickeners for dye. In food and beverage industry, alginate is mostly used in ice-creams and sauces, acting in the form of a stabilizing and thickening agent.
Also, it is being used as a separating agent in oil water emulsions and as a softening agent for bakery items. In terms of application, food and beverage industry is witnessing substantial growth in the alginate market.
The industrial textile sector is dominating the demand for alginate over the years.
Some market drivers which are inducing the demand of alginate is coming from the food and beverage manufacturers for its thickening, gelling, stabilizing and emulsifying properties. Reason behind its rising demand in F&B industry is pertaining to its natural source: seaweeds, which is generally considered to be the safest food additive in food industry and also certified by FAO and WHO.
Additionally, there is also an increased demand from textile industry primarily for its use in designing, printing, and dyeing on cotton and jute fabrics.
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The North America Alginates market is broadly categorized by Type (Potassium Alginate, Sodium Alginate, Calcium Alginate, PGA, Others) and by Application (Industrial, Food & Beverage, Pharmaceuticals, Others). Primary demand of alginate in North America market accounts from food and beverage, paper and textile industry.
In food and beverage industry, demand of alginate is increasing due its higher demand in preparing products such as alcoholic drinks, ice cream, jellies, salads, lactic drinks. Geographically, the market is analysed under various regions namely United States, Canada,.
As per the alginate production, major producing region is United States and contributes majority of market share in North America market. In terms of value, it is expected that United States account for major share in terms of value and also as a lucrative market in near future.
Some of the major companies dominating the market are:
- Ashland Inc.
- Dastech International Inc.
- E.I. DuPont De Nemours and Company
- Brenntag AG
- Cargill Inc.
- Dohler Group
- FMC Corporation
- Kimica Corporation
- Dow Chemical Company
- Penford Corporation
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