Ammonium Alginate Market Pegged for Robust Expansion During 2017-2025
Alginates are derived from the cell walls of algae as the ammonium, sodium or calcium salts of alginic acid. The Alginate market is gaining popularity among various industries owing to its increasing application. The growth of alginate market will result in creating many opportunities for the ammonium alginate market
Market Overview:
Ammonium alginate find its application in various industries since Ammonium alginate is used as additives in products like textiles and for producing paper as it absorbs water quickly. Ammonium alginates are also used as gelling and thickening agents in the food and beverage industry. Ammonium alginate finds various applications in the pharmaceutical industry because of its high efficiency. Ammonium alginate are also used in making prosthetics and in the cosmetic industry. Hence ammonium alginate is expected to grow at a significant CAGR in the forecast period.
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Market Dynamics:
The rising demand for ammonium alginates in the packaging industry is driving the growth of this market. Ammonium Alginate is widely used as an emulsifier, stabilizer, gelling and thickening agent in food industry. The growing demand for ammonium alginate in the food and beverage industry will create many opportunities for the growth of this market.
Increase in the consumption of food and beverages in the developing economies is expected to increase the demand for ammonium alginate in these regions. Growing demand for convenience foods is expected to further promote market growth in future.
The major restraint in the growth of ammonium alginate is the availability of raw material which is present mainly in the Asia Pacific region which results in increasing the costs of the product.
Market Segmentation:
The Ammonium alginate market is segmented by the product type, functions, distribution channel, and region.
On the basis of the product type, Ammonium alginate market is segmented into Macrocystis, Laminaria, Ascophyllum, Durvillaea, Lessonia, Ecklonia, and Others
On the basis of functions, Ammonium alginate market is segmented into Acidity Regulators, Emulsifiers, Thickeners, Stabilizers and others
On the basis of the Application, Ammonium alginate market is segmented into Pharmaceuticals, Food and Beverages, Textiles, Biofuels, Paper and Pulp, and Others
On the basis of the geographies, the Ammonium alginate market is segmented across seven key regions; Europe, North America, Middle East and Africa, the Asia Pacific excluding Japan, Latin American and Japan. Ammonium alginate market is dominated by Europe and North America because of the high consumption of packaged goods and rising food and beverage industry. The raw materials required to make ammonium alginates is available in huge amount in the developing economies, which increase the exports of alginates to the developed economies. Asia Pacific is the prominent exporter and producer of ammonium alginates and is expected to grow at a high CAGR in the forecast period because of the growing demand for bakery, food and processed meat products
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Market: Key Players
Few of the primary key players active in the Ammonium alginate market includes Qingdao Nanshan Seaweed Co., Ltd., Kimica Corporation, Jiejing Group, Bright Moon Seaweed, IRO Alginate, Allforlong Bio-Tech, Danisco (a subsidiary of Dupont), FMC Corporation, SNAP Natural & Alginate Products Pvt. Limited and others. Few strategies acquired by key players in 2017 are listed below:
In November 2017, Satialgine DVA was introduced which is a next-generation seaweed ingredient for dairy and non-dairy desserts. In May 2017, AIDP, Inc. and Algaia, S.A entered into a distribution partnership to market to expand their businesses.a
In March 2017, FMC’s health and nutrition business were acquired by DuPont.
Key players in the ammonium alginate market are focusing on expansion, mergers and acquisitions and are planning to invest more in research and development for product innovations to attract more customers resulting in creating various opportunities for the growth of this market.
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