Agar are natural product extracted from algae of Gracilaria and Powderidium. It is available in different forms such as granules, strips, and powder. Agar find its applications in food & beverages, bacteriological, technical including cosmetology and medical applications. In food & beverage applications it is used for bakery, confectionery, dairy, dietic products, poultry products, sauces, creams & dressing, and others.
Market Dynamics
Based on application, food & beverages application accounted for the largest market share in terms of revenue and contributed for 84.0% in 2021. The segment growth is majorly driven by the rising demand for food along with increasing application of agar in food products. Whereas, technical applications segment is projected to record fastest growth in terms of revenue over the forecast period (2021 to 2030).
Among region, Europe accounted for the largest revenue share in 2021 and contributed for the revenue share of 42.0% in 2021, followed by Asia Pacific and North America. Furthermore, Asia Pacific is anticipated to record fastest growth during 2021 to 2030, attributing to rising application of agar in pharmaceutical, confectionery, dairy, and dentistry industry along with growth of these industries in the region.
Key features of the study:
- This report provides in-depth analysis of agar market and provides market size (US$ Million and Kilo Tons) and cumulative annual growth rate (CAGR %) for the forecast period (2022 – 2030), considering 2021 as the base year
- It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, regional outlook, and competitive strategy adopted by the leading players
- It profiles leading players in the global agar market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
- Key companies covered as a part of this study include Hispanagar, Merck Group, New Zealand Manuka Group, Acroyali Holdings Qingdao Co., Ltd., Neogen, Industrias Roko, S.A., Setexam, Agarindo Bogatama, and Norevo GmbH
- Insights from this report would allow marketers and the management authorities of the companies to make informed decision regarding their future product launches, technology up gradation, market expansion, and marketing tactics
- The global agar market report caters to various stakeholders in this industry including investors, suppliers, Agar manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through the various strategy matrices used in analyzing the agar market
Detailed Segmentation:
- Global Agar Market, By Form:
- Global Agar Market, By Application:
- Food & Beverages
- Bakery
- Confectionery
- Dairy
- Canned Meat/ Poultry Products
- Beverages
- Sauces, Creams & Dressings
- Dietic Products
- Others
- Bacteriological
- Culture Media
- Microbiology
- Technical Applications
- Cosmetology
- Medical Application
- Others
- Global Agar Market, By Geography:
- North America
- Latin America
- Mexico
- Brazil
- Argentina
- Rest of Latin America
- Europe
- EU 5
- Benelux
- Nordic
- Russia
- Ukraine
- Poland
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- ASEAN
- OCEANIA
- Rest of Asia Pacific
- Middle East & Africa
- Turkey
- GCC
- South Africa
- Rest of Middle East & Africa
- Company Profiles
- New Zealand Manuka Group*
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments
- Future Plans
- Hispanagar
- Acroyali Holdings Qingdao Co., Ltd.
- Industrias Roko, S.A.
- Neogen
- Merck Group
- Agarindo Bogatama
- Setexam
- Norevo GmbH
