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.
Market Trends, Drivers, Restraints, and Opportunities
- Increasing demand for agar due to significant advancement in technology and equipment which is used to extract the agar is projected to drive the market.
- Strict rules & regulations for export and import and these transportation and mobility restrictions have resulted in hampering the growth of agar market.
- Complications associated with agar procedures lead to the great challenges in the growth of the market.
- Limited source of agar is a major factor expected to hinder the market growth.
Scope of Agar Market Report
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.
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Attributes |
Details |
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Report Title |
Agar Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
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Base Year |
2020 |
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Historic Data |
2018–2019 |
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Forecast Period |
2021–2028 |
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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) |
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Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
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Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
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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. |
Agar Market Segment Insights
The food & beverages segment is projected to hold significant market share
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.
The powder agar segment held substantial market share in 2020
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.
The retail sale segment to grow during the forecast period
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.
Asia Pacific dominates the global market
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.
2. Assumptions and Acronyms Used
3. Research Methodology
4. Agar Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Agar Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Agar Market - Supply Chain
4.5. Global Agar Market Forecast
4.5.1. Agar Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Agar Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Agar Market Absolute $ Opportunity
5. Global Agar Market Analysis and Forecast by Region
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Region
5.2.2. Y-o-Y Growth Projections by Region
5.3. Agar Market Size and Volume Forecast by Region
5.3.1. North America
5.3.2. Latin America
5.3.3. Europe
5.3.4. Asia Pacific
5.3.5. Middle East and Africa (MEA)
5.4. Absolute $ Opportunity Assessment by Region
5.5. Market Attractiveness/Growth Potential Analysis by Region
5.6. Global Agar Demand Share Forecast, 2019-2026
6. North America Agar Market Analysis and Forecast
6.1. Introduction
6.1.1. Basis Point Share (BPS) Analysis by Country
6.1.2. Y-o-Y Growth Projections by Country
6.2. North America Agar Market Size and Volume Forecast by Country
6.2.1. U.S.
6.2.2. Canada
6.3. Absolute $ Opportunity Assessment by Country
6.4. Market Attractiveness/Growth Potential Analysis
6.4.1. By Country
6.4.2. By Product Type
6.4.3. By Application
6.5. North America Agar Demand Share Forecast, 2019-2026
7. Latin America Agar Market Analysis and Forecast
7.1. Introduction
7.1.1. Basis Point Share (BPS) Analysis by Country
7.1.2. Y-o-Y Growth Projections by Country
7.1.3. Latin America Average Pricing Analysis
7.2. Latin America Agar Market Size and Volume Forecast by Country
7.2.1. Brazil
7.2.2. Mexico
7.2.3. Rest of Latin America
7.3. Absolute $ Opportunity Assessment by Country
7.4. Market Attractiveness/Growth Potential Analysis
7.4.1. By Country
7.4.2. By Product Type
7.4.3. By Application
7.5. Latin America Agar Demand Share Forecast, 2019-2026
8. Europe Agar Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.1.3. Europe Average Pricing Analysis
8.2. Europe Agar Market Size and Volume Forecast by Country
8.2.1. Germany
8.2.2. France
8.2.3. Italy
8.2.4. U.K.
8.2.5. Spain
8.2.6. Russia
8.2.7. Rest of Europe
8.3. Absolute $ Opportunity Assessment by Country
8.4. Market Attractiveness/Growth Potential Analysis
8.4.1. By Country
8.4.2. By Product Type
8.4.3. By Application
8.5. Europe Agar Demand Share Forecast, 2019-2026
9. Asia Pacific Agar Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Asia Pacific Average Pricing Analysis
9.2. Asia Pacific Agar Market Size and Volume Forecast by Country
9.2.1. China
9.2.2. Japan
9.2.3. South Korea
9.2.4. India
9.2.5. Australia
9.2.6. Rest of Asia Pacific (APAC)
9.3. Absolute $ Opportunity Assessment by Country
9.4. Market Attractiveness/Growth Potential Analysis
9.4.1. By Country
9.4.2. By Product Type
9.4.3. By Application
9.5. Asia Pacific Agar Demand Share Forecast, 2019-2026
10. Middle East & Africa Agar Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Middle East & Africa Average Pricing Analysis
10.2. Middle East & Africa Agar Market Size and Volume Forecast by Country
10.2.1. Saudi Arabia
10.2.2. South Africa
10.2.3. UAE
10.2.4. Rest of Middle East & Africa (MEA)
10.3. Absolute $ Opportunity Assessment by Country
10.4. Market Attractiveness/Growth Potential Analysis
10.4.1. By Country
10.4.2. By Product Type
10.4.3. By Application
10.5. Middle East & Africa Agar Demand Share Forecast, 2019-2026
11. Competition Landscape
11.1. Global Agar Market: Market Share Analysis
11.2. Agar Distributors and Customers
11.3. Agar Market: Competitive Dashboard
11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
11.4.1. Merck KGaA
11.4.2. HISPANAGAR S.A.
11.4.3. Meron
11.4.4. Sobigel
11.4.5. AgarGel
11.4.6. Agarmex, S.A. de C.V.
11.4.7. MSC Co.,Ltd.
11.4.8. Setexam