Propylene Glycol Alginate Market: Food & Beverage Application Segment Is Anticipated To Show the Highest Growth during the Forecast Period 2021-2030

Pune, India, March 22, 2018 /press release/- Market Research Future Published a Half Cooked Research Report on Global Propylene Glycol Alginate Research Report.

Propylene Glycol Alginate Market size is expected to reach nearly US$ 18.96 Bn by 2030 with a CAGR of 3.8% during the forecast period (2021-2030).

Propylene glycol alginate is used in a wide range of applications such as stabilizers, thickeners, emulsifiers, defoaming agents, surfactants, and preservatives among others. The rising demand from the food and beverage and cosmetic & personal care industry across the globe is substantially contributing to the growth of the propylene glycol alginate market. Propylene glycol alginate is extensively used in breweries to stabilize the foam in beers.  The growing beer consumption across the globe is anticipated to positively affect the growth of the global propylene glycol alginate market.

Market Segmentation

The global propylene glycol alginate market is segmented into application and region. On the basis of the application, the global market of propylene glycol alginate is segmented into thickeners, emulsifiers, gelling agents, defoaming agents, surfactants, preservatives, texture stabilizers and others. On the basis of the end-user industry, the market is further segregated into food & beverage, pharmaceuticals, cosmetic & personal care and others. On the basis of the region, the global propylene glycol alginate market is bifurcated into Asia Pacific, North America, Latin America, Europe, and the Middle East & Africa.

Among the various applications of the propylene glycol alginate, the food & beverage application was the dominant segment in 2016 and is expected to retain its dominance during the forecast period. Whereas, the cosmetic & personal care and pharmaceutical application segment are also expected to exhibit steady growth during the review period. The growing demand for processed food across the globe coupled with increasing application in cosmetics & personal care is expected to augment the market growth further. The increasing consumption of ice creams, salad dressings, jams, and other dairy products across the globe is anticipated to surge the demand for thickening & emulsifying agents, in turn, propelling the demand for propylene glycol alginate. 

The global propylene glycol alginate market is spanned across five key regions: Europe, Asia Pacific, North America Latin America, and the Middle East & Africa. Among these, Asia Pacific is the fastest  growing  market  during the forecast period. The presence of agrarian economies has augmented the use of propylene glycol alginate as herbicides, pesticides. Moreover, the growing population has increased the demand for food and beverages, in turn, adding to the demand for propylene glycol alginate. Moreover, the growing disposable income in the region has augmented the demand for beer, which is anticipated to fuel the market growth further. According to the  Statistics, the beer revenue in India is expected to reach US$ 3,758 million by the end of 2018. North America is anticipated to be the largest market, which is closely followed by Europe.

Competitive Analysis

Some of the prominent players in the global propylene glycol alginate market are Universal Preserv-A-Chem Incorporated (U.K), Kikkoman Corporation (Japan), KIMICA Corporation (Japan), Fuji Kasei Co. Ltd (Japan), IRO Alginate Industry Co., Ltd (China)., Qingdao Bright Moon Seaweed Group Co.,Ltd (China), and Rizhao Jiejing Group Co., Ltd (China) among others

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