Alginate Market projected to witness significant growth at USD 1.07 billion by 2028
Alginate Industry Overview The global alginate market size was valued at USD 728.4 million in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 5.0% from 2021 to 2028. The market is expected to witness significant growth owing to the increasing product demand in the food applications as a thickening agent, emulsifier, and gelling agent. Increased acceptance from the food industry and higher demand for natural ingredients are the key drivers for product demand. In addition, regulatory grants received from various organizations like the U.S. Food & Drug Administration (FDA) and the European Commission are expected to drive the growth of the global market. Globally, U.S. is one of the leading markets with high product penetration across the pharmaceutical application industry. The wound care market in the country is considerably developed and uses alginate in several advanced wound care products. The use of calcium and sodium alginate fibers...