The Latin America, Middle East and Africa Alginate Market would witness market growth of 8.83% CAGR during the forecast period (2020-2026). Development of the food & beverage sector in BRICS and the Middle East due to expanding domestic consumption is expected to augment the consumption of alginates. The rising demand for convenience foods due to the increasing consumer’s inclinations towards the utilization of these products is anticipated to further augment the market growth over the forecast years.
Organizations in the market depend on the development of cutting-edge products in order to appeal the consumers. Massive funding by the national governments and alginate manufacturing organizations to fuel the development of seaweed processing, are anticipated to positively impact the growth of the industry. Although, massive demands for seaweed for other applications like extraction of carrageenan gum, are anticipated to restrict the raw material accessibility.
Growing product applications in the bakery and confectionary industry are estimated to propel the market development in the years to come. Rising consumption of emulsifiers in peanut butter, chocolates, margarine, salad dressings, and frozen desserts is further expected to boost the product demand over the forecast years.
Based on Type, the market is segmented into High G and High M. Based on Product, the market is segmented into Sodium Alginate, Calcium Alginate, Potassium Alginate, Propylene Glycol Alginate and Others. Based on Application, the market is segmented into Industrial, Pharmaceutical, Food & Beverages and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: Alginate Market in LAMEA is expected to register a CAGR of 8.83% during the forecast period (2020-2026)
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include DuPont de Nemours, Inc., Doehler Group SE, Algaia S.A. (Maabarot Products Ltd.), Marine Biopolymers Ltd. (MBL), Ingredients Solutions, Inc., KIMICA Corporation, IRO Alginate Industry Co., Ltd., Ceamsa, SNAP Natural & Alginate Product Pvt. Ltd., and Shandong Jiejing Group Corporation.
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