The global alginic acid market size was worth around USD 768.5 million in 2021 and is predicted to grow to around USD 1117.8 million by 2028 with a compound annual growth rate (CAGR) of roughly 5.5% between 2022 and 2028.
FrequentlyAsked Questions
The market is predicted to develop significantly due to rising product demand in food applications as a thickener, emulsifier, and gelling agent. Product demand is being driven by increased food industry adoption and increased demand for natural ingredients.
According to the report, the global alginic acid market size was worth around USD 768.5 million in 2021 and is predicted to grow to around USD 1117.8 million by 2028 with a compound annual growth rate (CAGR) of roughly 5.5% between 2022 and 2028.
The global alginic acid market growth is expected to be driven by the Asia Pacific. It is currently the world’s highest revenue-generating market due to the presence of major manufacturers in the countries like China and Japan.
The global alginic acid market is dominated by players like SNAP Natural & Alginate Products, KIMICA Corporation, IRO Alginate, Cargill Incorporated, Qingdao Rongde Seaweed Co. Ltd., Qingdao Allforlong Biotech Co. Ltd, and Qingdao Bright Moon Seaweed Group Co. Ltd., Qingdao Gather Great Ocean Algae Industry Group Co. Ltd., Lianyungang Huanyu Seaweed Co. Ltd, Qingdao Fengrun Seaweed Co. Ltd., Protan AS, among others.
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