Alginate Casings Global Market Size, Share & Trends Analysis 2023-2030 - A $1.1 Billion Industry Opportunity, Dominated by FMC Corporation, Reiser, and Kalle GmbH
Dublin, May 01, 2024 (GLOBE NEWSWIRE) -- The "Global Alginate Casings Market Size, Share & Trends Analysis, 2023-2030" report has been added to * ResearchAndMarkets.com's* offering.
The Global Alginate Casings Market is expected to reach $1.1 billion by 2030, rising at a market growth of 10.4% CAGR during the forecast period. European consumers exhibit a marked preference for natural, sustainable products, aligning seamlessly with alginate, a seaweed-derived material. Consequently, Europe secured a significant 31.7% revenue share in the market. The burgeoning meat production sector within the EU is expected to drive the demand for casings to accommodate sausages and processed meat products. Alginate emerges as a promising alternative to traditional casings, offering a sustainable packaging solution amid the industry's quest for eco-friendly options.
The biodegradable nature of alginate, sourced from seaweed, appeals to environmentally conscious consumers striving to mitigate plastic pollution and ecological damage linked with conventional casings. Moreover, alginate casings boast a lower resource footprint compared to their synthetic counterparts.
Fueled by the mammoth food processing industry in countries like India and Brazil, which are poised for substantial growth, the market demand is projected to witness a significant uptick. However, sustainable harvesting practices for seaweed, crucial for alginate production, present a delicate balance between economic interests and environmental preservation. Overharvesting or unsustainable harvesting techniques could imperil seaweed resources, potentially dampening market sustainability in the long run.
*Segment Analysis:*
· *End-user:* The food industry segment dominated the market in 2022, capturing a robust 75.6% revenue share, driven by evolving consumer preferences favoring natural and sustainable food ingredients.
· *Usage:* Kosher-certified casings, compliant with Jewish dietary laws, constituted 30.7% of the market share in 2022, catering to individuals adhering to specific dietary restrictions.
· *Application:* Meat applications accounted for the lion's share (66.38%) of the market in 2022, reflecting a growing consumer inclination towards sustainable and healthy dietary choices.
· *Type:* Colored casings, which enhance the visual appeal of food products, commanded a significant 35.7% revenue share in 2022, attracting consumers with vibrant aesthetics.
· *Regional Analysis:* Europe held a substantial 31.7% revenue share in 2022, underscoring the region's penchant for natural, sustainable products and aligning with the seaweed-derived alginate trend.
*List of Key Companies Profiled:*
· FMC Corporation
· Reiser
· Kalle GmbH
· Albert Handtmann Holding GmbH & Co. KG
· ViskoTeepak Holding AB Ltd.
· D2 Ingredients, LP
· J.Rettenmaier & Sohne GmbH Co. KG
· Vaessen-Schoemaker BV
· Qingdao Hyzlin Biology Development Co. Ltd.
· Compania Espanola de Algas Marinas SA
For more information about this report visit https://www.researchandmarkets.com/r/ccl4mw
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