Alginate Casings Market Forecasted To Grow At 10.5% CAGR Reaching $1.3 Billion By 2031


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Alginate Casings Market

The global alginate casings market size was valued at $516.8 million in 2022, and is projected to reach $1.4 billion by 2032, growing at a CAGR of 10.9% from 2023 to 2032.” - Allied Market Research

WILMINGTON, NEW CASTLE, DELAWARE 19801 USA, UNITED STATES, July 11, 2024 /EINPresswire / -- According to a new report published by Allied Market Research, titled,“Alginate casings Market ," The Alginate casings Market Size was valued at $478.10 million in 2021, and is estimated to reach $1.3 billion by 2031, growing at a CAGR of 10.5% from 2022 to 2031.

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Top Key Players:

The major players analyzed for the global alginate casings industry are FMC Corporation, Promar, Agersol Alignate, Visko Teepak, Reiser, Handtmann, F&D Technology, Merck, Qingdao Hyzlin Biology Technology Development Co, JRS Group, Hydroslo GmbH & Co. kg, Vaess, Ceamsa, D2 Ingredients, LP, and KIMICA. These major players have undertaking various marketing strategies, such as product launch, technological development, and acquisition to expand their market reach.

The alginate casing are used in making sausages and processed meat products. Casings have been referred as the oldest form of packaging materials for sausage. Casings determine the final size and shape of the sausage product. These alginate casings serve as processing molds, containers during handling and shipping, and as merchandising units for the display of sausages and meat products. The sausage production was limited to the number of available animal intestines, but due to the development of technology now they are made from the extract of brown algae, known as alginate casing. These coatings are edible in nature and are useful to extend the self-life of different fruits and vegetables. These alginate casings are also used to enclose the sausages, which provide a good taste and texture to them. Alginate casings can be used differently as a film in food packing or as a fermenter for meat products. It also provides various benefits like reducing dehydration, enhancing the product's appearance, and also controls respiration. Many key players and companies globally are coming up with various new formulations and products in the alginate casing market to cater to the increasing demand for naturally derived casings among consumers for . The alginate casings market is segmented into type, application, end-user, usage, and region. On the basis of type, the market is classified into basic, colored, and flavored. The flavored segment occupied the major share of the market in 2021 and is projected to maintain its dominance during the forecast period, owing to rising demand for flavored sausages among consumers.

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Also, the increasing popularity of vegans in the food market around the globe has pushed manufacturers to use edible casing and also to focus on the alginate-based edible casing. Depending on the application, it is bifurcated into meat, vegan, and fish. The meat segment occupied the major share of the market in 2021 and is projected to maintain its dominance during the forecast period, owing to higher demand for sausages and the production of various sausage flavors by market players. Depending on end user, it is bifurcated into food industry, and pet food industry. The food industry segment occupied the major share of the market in 2021 and is projected to maintain its dominance during the forecast period, owing to rising population, which has led to higher demand for sausage and other meat products. The increasing shift of consumers towards protein-based diets is making a positive impact on the alginate casing market across the globe. Also, alginate casings are a cost-effective alternative to other expensive natural casings owing to their low labor and production cost. Food product manufacturers are also focusing on naturally derived casings instead of animal casing owing to consumer inclination for vegan food products. Furthermore, busy and hectic life is expected to boost demand for ready-to-eat meat products and snacks which in turn is expected to boost the growth of the alginate casing market. It also provides food with a crispy bite and soothing texture. These all factors collectively increase the demand for alginate casing. Depending on usage, it is bifurcated into halal, kosher, and others. The halal segment occupied the major share of the market in 2021, and is projected to maintain its dominance during the forecast period, owing to rising awareness among consumers regarding halal certification of food products, especially among Muslim meat product consumers.

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In 2021, North America accounted for 42.3% of the global alginate casings market share and is expected to maintain its dominance during the forecast period. However, Asia-Pacific is expected to possess the highest CAGR of 13.6%, owing to the rising population and higher demand for sausage and meat products in the region. Moreover, during the time of COVID-19 pandemic, it was observed that almost all the sectors of the economy were adversely affected globally and the alginate casings market witnessed the same adverse effects due to the complete lockdown and the closure of the packaged food manufacturing industry thus leading to a negative impact on the market. Post-COVID-19, the condition has improved and almost all the sectors of the economy are becoming operational after the upliftment of restrictions due to COVID-19. Situations globally and among food manufacturing industries are improving due to the availability of raw materials, which ultimately is helping the industry to increase production and cater to the increasing Alginate casings Market Trends. The alginate casing market is expected to witness significant Alginate casings Market Growth, owing to the increasing inclination of consumers toward naturally-derived casings. Also, increasing sausage demand and meat products among consumers is also driving the market Alginate casings Market Demand. In addition, alginate casings have the advantages of appearance, texture, and cooking performance thus making it one of the preferred choices among sausage manufacturers and is expected to drive the market during forecast period. The consumer inclination towards naturally derived casings coupled with rising in awareness of animal cruelty for manufacturing of animal-based casing has led both manufacturers and consumers to shift toward alginate casing thus making a positive impact on the market during the forecast period.

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Key findings of the study

· On the basis of type, the flavored segment dominated the market in 2021.

· On the basis of application, the vegan segment is likely to be the fastest-growing segment with a CAGR of 12.9% during the forecast period.

· On the basis of Application, the pet food industry segment is likely to be the fastest-growing segment with a CAGR of 11.3% during the forecast period.

· On the basis of usage, the kosher segment is likely to be the fastest-growing segment with a CAGR of 10.9% during the forecast period.

· Region-wise, North America dominates the global alginate casings market from 2021 to 2031.

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About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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