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Global Agar Market - Growth, Trend and Forecasts (2018 - 2023)

Global Agar Market - Growth, Trend and Forecasts (2018 - 2023)

The global agar market size was estimated at USD 255.18 million in 2018 and is anticipated to grow at a CAGR of 5.1% from 2018 to 2023. The exponential growth in the usage of this product is attributed to its various functional and health benefits. It contains 80% fiber and can be used as an appetite suppressant. It is also an important culinary ingredient as it acts as a substitute for gelatin and can be used as a thickener soups, in fruits preserves, ice cream and others desserts.

The age of veganism and health consciousness is expected to promote the use of Agar

Essentially agar and gelatin serve the same purpose both acts as a thickening agent. These are important ingredients for the preparation of desserts worldwide. Agar has high preference over gelatin not only because it is viable vegetarian substitute for gelatin, but also because of its higher health benefits when compared to gelatin. It is low in saturated fat and cholesterol and high in calcium, folate, iron and vitamins amongst others. It is ideal for consumers interested in weight loss and maintaining good health. Veganism is a lifestyle choice which is increasingly become popular globally. China is among the top three that have the highest vegan population. To accesses these set of consumers any manufactures products such as fruit-flavored jams and jellies, chewy candies are preferring the use of agar.

Regional analysis

Asia-pacific is expected to have the highest growth rate during the forecast period due to the growing preference for vegan products. North American region has the highest share for agar market; Europe has the second highest market for agar. Agar has a wide range of application, it is used to make ice cream, bakery and confectionaries, dairy products, sports and health foods, beverage. The powdered form agar is the most preferred form as it ease of usage coefficient is high.Major PLAYERS: POLYGAL AG, HISPANAGAR, NEXIRA, INDUSTRIAS ROKO, S.A., NEOGEN, MERCK GROUP, AGARINDO BOGATAMA, SETEXAM, NOREVO GMBH, MYEONG SHIN AGAR, MARINE SCIENCE CO., LTD., AGARMEX, ASHLAND SPECIALTY INGREDIENTS and TANISCO A/C, amongst others.

Reasons to Purchase this Report

  • Analyzing outlook of the market with the recent trends and Porter’s five forces analysis.
  • Market dynamics, which essentially consider the factors that are impelling the present market scenario, along with growth prospects of the market over the forecast period.
  • Market segmentation analysis, including qualitative and quantitative research, incorporating the impact of economic and non-economic aspects.
  • Country-level analysis, integrating the demand and supply forces that are influencing the growth of the market.
  • Competitive landscape involving the market share of major players, along with the key strategies adopted for development over the past five years.
  • Comprehensive company profiles, covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players.
  • 3 months analyst support along with the Market Estimate sheet (in excel).
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1. Introduction
1.1 Key Deliverables of the Study
1.2 Study Assumptions
1.3 Market Definition
2. Research Approach & Methodology
3. Key Findings of the Study
4. Market Dynamics
4.1 Drivers
4.1.1 Growing Veganism Trend
4.1.1 Growing Demand for Healthier Substitutes
4.2 Restraints
4.2.1 Limited Resources
4.2.1 Easy Availability of Substitutes
4.3 Opportunities
4.3.1 High Demand in Developing Markets
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products & Services
4.4.5 Degree of Competition
5. Market Segmentation
5.1 By Application
5.1.1 Meat Products
5.1.2 Bakery and Confectionaries
5.1.3 Dairy products
5.1.4 Sports and Health foods
5.1.5 Beverage
5.1.6 Other
5.2 By Form
5.2.1 Strips
5.2.2 Powder
5.2.3 Others
5.3 By Function
5.3.1 Fat Replacers
5.3.2 Stabilization
5.3.1 Coating
5.3.2 Thickening
5.3.3 Others
5.4 By Source
5.4.1 Plant
5.4.2 Marine
5.4.1 Microorganisms
5.4.2 Chemical Manufacturing and Processing
5.5 By Geography
5.5.1 North America United States Canada Mexico Others
5.5.2 Europe Germany United Kingdom France Spain Italy Russia Others
5.5.3 Asia-Pasific China Japan India Australia Others
5.5.4 South America Brazil Argentina Others
5.5.5 Africa South Africa Others
6. Competitive Landscape
6.1 Most Adopted Strategies
6.2 Most Active Companies
6.3 Market Share Analysis
7. Company Profiles
7.1 Polygal AG
7.2 Hispanagar
7.3 Nexira
7.4 Industrias Roko, S.A.
7.5 Neogen
7.6 Merck Group
7.7 Agarindo Bogatama
7.8 Setexam
7.9 Norevo GmbH
7.10 Myeong Shin Agar
7.11 Marine Science Co., Ltd.
7.12 Agarmex
7.13 Ashland Specialty Ingredients
7.14 Tanisco A/C
8. Appendix
8.1 Disclaimer
8.2 Sources

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