Market Overview
The global alginate casing market size was valued at USD 21.06 million in 2023. The market is projected to grow from USD 22.84 million in 2024 to USD 56.81 million by 2032, exhibiting a CAGR of 12.07% during the forecast period.
A natural anionic polymer extracted from brown algae is called alginate and is available as calcium, sodium, potassium, or ammonium salts. The alginate casing market is propelling due to the increasing interest in trying plant-based sausages, which further raised the seaweed-based casing popularity.
List of Key Players Present in the Report:
ViskoTeepak (Finland)
D2 INGREDIENTS, LP (U.S.)
FMC Corporation (U.S.)
Ruitenberg Ingredients B.V. (Netherlands)
PROMAR PPH Sp. z o.o. (Poland)
Viscofan, S.A. (Spain)
Vaessen Schoemaker B.V. (Netherlands)
Algaia (France)
J. RETTENMAIER & SÖHNE GmbH + Co KG (Germany)
SoleChem S.R.L. (Italy)
Albert Handtmann Holding GmbH & Co. KG (Germany)
Segments
High Availability of Soy-based Sausages to Augment Vegan Segment Growth
Based on application, the market is segmented into meat and vegan. The vegan segment accounts for the largest alginate casing market share and is leading the market. The growth is attributed to the high availability of soy-based sausages in the market, which makes them a popular choice for consumers.
Increasing Unflavored Versions of Alginate Casings to Augment Segment Expansion
By product type, the market is bifurcated into unflavored and flavored. The unflavored segment is leading in terms of market share due to the increasing availability of unflavored versions of alginate casings by key players in the market.
Geographically, the market is studied across North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
Source: https://www.fortunebusinessinsights.com/alginate-casing-market-110027
Report Coverage
The report provides major growth drivers, restraining factors, opportunities, and potential challenges for the market. It offers comprehensive insights into regional developments, a list of major industry players, key strategies adopted by market players to boost market share and the latest industry developments, including product launches, partnerships, mergers, and acquisitions.
Drivers & Restraints
Surging Demand for Prepared Foods to Drive Market Growth
The increasing demand for prepared foods, owing to the fast urbanization and income growth, further increasing the consumer desire for ready-to-sell and packaged foods globally, driving the alginate casing market growth. The rising demand for sausages, which is further raising the demand for alginate casing from the industry, also boosts the market expansion.
Although, the alternatives for meat are considered costly in countries, including Philippines, Indonesia, India, Malaysia, Brazil, Mexico, Peru, Argentina, and Chile, hindering market growth.
Regional Insights
High Demand for Sausages to Fuel Market Growth in Europe
In terms of market value, Europe is dominating the market. The high demand for sausages as they are a major part of the daily diet of European consumers, drives market growth in Europe.
Asia Pacific is expected to witness the fastest growth during the forecast period due to the increasing population in nations, such as India, Bangladesh, China, and others.
Competitive Landscape
Major Market Players are Adopting Different Strategies to Maintain Competitive Edge
The alginate casing market comprises major market players, which are adopting strategies, such as mergers, acquisitions, and partnerships, to maintain a competitive edge and further drive market expansion.
Key Industry Development
March 2023 – A German manufacturer of functional plant-based ingredients, JRS Group, acquired Algaia SA, a producer of seaweed extracts and hydrocolloids based in France. The acquisition will enable JRS Group to deliver innovative seaweed-based solutions to its global customers and utilize sources of fresh seaweed in Brittany.