(MENAFNEditorial) Propylene Glycol Alginate Market Research Report: by Application (stabilizers, emulsifiers, thickeners and others) by End Use (food & beverage, Personal Care & Cosmetics, pharmaceuticals) – Forecast till 2023
Synopsis of Propylene Glycol Alginate Market
Alginic acid also is known as alginate found extensively in the cell walls of brown algae in the form of a viscous gum. It is a linear copolymer that occurs naturally and is used in various industrial applications. Propylene glycol alginate is an ester of alginic acid, which is mainly derived from kelp. Propylene glycol alginate is also known as PGA E405 is extensively used as thickeners, emulsifiers, gelling agents, defoaming agents, surfactants, preservatives, and texture stabilizers in various end-use industries. The growing demand for cosmetics and personal care products along with the increasing use of thickeners and sizing agents in the food and beverage industry is expected to fuel the growth of the market during the forecast period. Propylene glycol alginate is extensively used in the food and beverage such as jams, jellies, ice creams, salad dressings, dairy products, and processed food among others. Moreover, propylene glycol alginate is also used as defoaming agents in herbicides, fungicides, and insecticides. Furthermore, the growing demand from breweries is expected to augment the market growth further. The global propylene glycol alginate market is anticipated to grow at a considerable CAGR during the given period. Among the various application segments in propylene glycol alginate market, the food and beverage segment is the leading one in the market and is anticipated to continue its dominance over the forecast period. Propylene glycol alginate is extensively used as a stabilizer, preservatives, thickening agents, and emulsifiers in the food and beverage industry.
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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.
Market Scenario
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.
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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
- Universal Preserv-A-Chem Incorporated
- Kikkoman Corporation
- KIMICA Corporation
- Fuji Kasei Co. Ltd
- IRO Alginate Industry Co., Ltd
- Qingdao Bright Moon Seaweed Group Co.,Ltd
- Rizhao Jiejing Group Co., Ltd
Intended Audience
- Propylene glycol alginate Triglycerides market manufacturers
- Traders and Distributors of Propylene glycol alginate Triglycerides market
- Production process industries
- Potential investors
Geographical Analysis
- The report covers brief analysis of the major geographic regions namely Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa.
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