Segments - Global Agar Market by Product Types (Powder, Flakes, Strips, and Others), Sales Channel (Retail Sale [Supermarket, Hypermarket, Grocery Stores, and Others] and E-commerce), Applications (Cosmetics, Pharmaceutics, and Food & Beverages [Bakery, Meat Products, Snacks/Instant Noodles, Beverage, Confectionary, Dairy, and Others], and Others), and Regions (Asia Pacific, North America, Europe, Latin America, and Middle East & Africa) Forecasts, 2021-2028
The global agar market is anticipated to expand at substantial CAGR during the forecast period, between 2021 and 2028. Agar is a jelly-like substance made from polysaccharides extracted from the cell walls of several red algae species, primarily ogonori and tengusa. Agar is made up of two parts: agaropectin, which is a heterogeneous mixture of smaller molecules and agarose, which is a linear polysaccharide. The market is being driven by increased demand for agar as a thickening agent in ice creams, pastries, and other desserts, as well as a clarifying component in brewing and winemaking.
The report on agar market includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.
Attributes |
Details |
Report Title |
Agar Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
Base Year |
2020 |
Historic Data |
2018–2019 |
Forecast Period |
2021–2028 |
Segmentation |
Product Types (Powder, Flakes, Strips, and Others), Sales Channels (Retail Sale [Supermarket, Hypermarket, Grocery Stores, and Others], and E-commerce), Applications (Cosmetics, Pharmaceutics, and Food & Beverages [Bakery, Meat Products, Snacks/Instant Noodles, Beverage, Confectionary, Dairy, and Others], and Others) |
Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
Key Players Covered in the Report |
Merck KGaA, HISPANAGAR S.A., Meron, Sobigel, AgarGel, Agarmex, S.A. de C.V., MSC Co.,Ltd., Setexam, NEOGEN Corporation, ROKO S.A., and PT. Agarindo Bogatama. |
In the terms of applications, the agar market can be segmented into cosmetics, pharmaceutics, and food and beverages. The food & beverages segment is further divided into sub-segments bakery, meat products, snacks/instant noodles, beverage, confectionary, dairy, and others. The food & beverages segment is projected to hold major market share. As the vegetarian alternative to gelatin, the agar sector is gaining traction. The sector has benefited from increased public knowledge of the advantages of a vegan diet.
As research activities in microbiological laboratories have expanded, so has the demand for agar to grow bacteria and other microorganisms. The industry has benefited from the use of agar in a number of products, including meat & dairy products, bakery & confectionaries, and others.
Based on product types, the agar market can be divided into powder, flakes, strips, and others. The powder agar segment accounted for the significant market share in 2020. The use of clear color powders in a variety of industrial and scientific applications, such as bacterial cultures and plant tissue culture mediums, is propelling the market. However, the strips segment held the rapidly-growing market share in 2020, and it is expected to grow at a significant CAGR during forecast period, owing to increasing demand from producers who want to prepare clean vegetarian, vegan, and kosher dishes in large quantities.
Based on the sales channel, the agar market is bifurcated into retail sale and e-commerce. The retail sale segment is further divided into supermarket, hypermarket, grocery stores, and others. The retail sale segment is projected to expand at a rapid pace during the forecast period. Increasing regulatory clearance for the use of agar as a food additive, as well as increasing awareness of healthy components and food items among people, are all expected to drive the market during the forecast period.
On the basis of regions, the market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific is expected to dominate the market during forecast period owing to growing preference for vegan products. Agar is used to make sports & health foods, dairy products, ice cream, bakery & confectionaries, and beverages. The powdered form of agar is the most popular because of its high ease of use coefficient.
Key players in the agar market include Merck KGaA, HISPANAGAR S.A., Meron, Sobigel, AgarGel, Agarmex, S.A. de C.V., MSC Co.,Ltd., Setexam, NEOGEN Corporation, ROKO S.A., and PT. Agarindo Bogatama. These players engage in mergers & acquisitions, collaborations, agreements, and partnerships to strengthen their geographical presence.