Press Release
Press Release
The sodium alginates industry is majorly driven by the growing product demand in the textile industry. However, the food and beverage industry also accounted for a significant share in the total market value in 2020. The product is utilised in the food and beverage industry as an emulsifier to prepare processed foods like peanut butter, salad dressings, frozen desserts, margarine, and others. North America and Europe significantly contribute to the industry growth owing to the increasing demand for sodium alginates in baked goods and confectionery. The cost-efficiency of the product and its easy availability is likely to boost the market growth in the coming years.
The easy availability of various end-use products like processed foods, beverages, and others through retail channels like Walmart Inc (NYSE: WMT) and Amazon.com, Inc. (NASDAQ: AMZN) is expected to further boost the demand for sodium alginates. Moreover, the growing R&D activities and the increasing focus of the manufacturers to expand their global reach are also aiding the market. In 2018, the European Commission approved DuPont Nutrition and Health’s divestiture of its alginates business to JRS Group, a leading producer of plant-based functional additives. Such developments are expected to influence the overall growth of the sodium alginates industry.
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The major players in the global sodium alginates market are J. Rettenmaier & Söhne GmbH + Co KG, KIMICA Corporation, Zibo Wangfei Seaweed Tech. Co., Ltd., Qingdao Gfuri Seaweed Industrial Co., Ltd., Meron Group, and SNP, Inc., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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