Middle East and Africa Alginates Market

Middle East and Africa Alginates Market Growth and Forecast (2023 - 2028):

Middle East and Africa Alginates Market was worth $10.93 million in 2022 and estimated to be growing at a CAGR of 2.11%, to reach $12.13 million by 2028.

Market Overview:

The market continues to gain a steady momentum owing to the demand for improving food textures. Additionally, uses of alginate such as in textile printing, immobilizing biocatalysts, pharmaceutical products, welding rods coatings, releasing agents, paper manufacturing and binders for fish feeds is likely to fuel growth of alginate market over the forecast period. Also, increase in consumption of processed convenience food products is expected to push growth of Middle East and Africa alginate market over the forecast period.

The industrial textile sector is governing the demand for alginate over the years. In the industrial textile sector, alginates are generally used as thickeners for dye. In food and beverage industry, alginate is mostly used in sauces and ice-creams, 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.

Drivers:

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.

Middle East and Africa Alginates Market Segmentation Analysis:

The Middle East and Africa market for Alginates is categorized on the basis of Type (PGA, Sodium Alginate, Calcium Alginate, Potassium Alginate, Others) and by Application (Food & Beverage, Industrial, Pharmaceuticals, Others). Sodium alginate has many applications in food and textile printing industry and due to which it is expected that it will fuel the market growth of alginate over the given period. Moreover, the demand of alginate in Middle East and Africa market is primarily accounted from paper, textile and food and beverage industry. In food and beverage industry, demand of alginate is increasing as it has high demand in preparing products such as alcoholic drinks, jellies, salads, ice cream, lactic drinks etc.

Region Analysis:

Geographically, the market is analysed under various regions namely Saudi Arabia, Africa, Chile etc. As per the alginate production, major producing regions is Saudi Arabia and contributes majority of market share in Middle East and Africa market. In terms of value, it is expected that Saudi Arabia and Africa account for major share in terms of value and also as lucrative markets in near future.

Key Players in the Market:

Major key players in the MEA Alginates Market are

Some of the major companies dominating the market, by their products and services include Brenntag AG, FMC Corporation, Dastech International Inc., Kimica Corporation, Cargill Inc., Dohler Group, Ashland Inc., Dow Chemical Company, E.I. DuPont De Nemours and Company and Penford Corporation.