The global agar market is expected to witness a CAGR of 5% between 2023 and 2033. Agar is formed from polysaccharide agarose, which, in turn, does form supporting structure inside agarophytes’ cell walls. Agarophytes do belong to red algae (Rhodophyta) phylum, gelidiella, gelidium, and gracilaria. All of them are red algae’s genus. The cultivation on commercial scale gives agar.
Gelidium seaweed is basically harvested on Morocco’s western coast, Spain’s northern coast, and Portugal’s southern coast. Though gracilaria species are found in the cold waters of Chile as well as Canada’s Atlantic coast, certain species have shown affinity toward Thailand’s and Indonesia’s tropical waters as well. These days, halal/kosher foods are being preferred. Agar is increasingly used in the bakery vertical owing to higher resistance to temperature along with being an exceptional gelling agent in the dairy products.
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Agar could exist in powdered form or stripped form. It is gaining popularity in the form of a thickener or stabilizer in icings, pie fillings, and meringues. It is seen that buns, cakes are generally pre-packed in several types of modern-day wrapping materials and they end up getting stuck to them; particularly when the weather is hot. In such cases, adding agar could help in rendering a smoother, more stable, and non-stick icing. The agars extracted from ‘Gracilaria chilensis’ find their presence in confectionery with higher content in sugar; like fruit candies. The good part is that agar being tasteless does not tamper with the original flavor of foodstuff.
Future Market Insights has entailed these facts with future perspectives in its latest market study entitled ‘Agar Market’. It has its line of expertise in the form of analysts and consultants to deploy a bottom-up approach in its primary, secondary, and tertiary modes of research.
“With growing inclination of end-consumers toward natural ingredients all across food & beverages vertical, the global agar market is expected to grow on a grand note in the agar market going forward”, says an analyst from Future Market Insights.
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Key Takeaways from Agar Market
- Europe, led by Western Europe, holds the largest market share and the scenario is expected to remain unchanged even in the forecast period.
- North America and the Asia-Pacific follow suit.
- LATAM is expected to generate maximum revenue as Chile is a source of gracilaria chilensis (a red seaweed seen in Chile’s southern coast).
Competitive Analysis
- Neogen Food Safety
- HISPANAGAR
- AGARMEX S.A.
- INDUSTRIES ROKO S.A.
- PT. Agrarindo Bogatama
What does the Report state?
- The research study is based on form (food & beverages (bakery, confectionery, dairy, canned meat/poultry products, beverages, sauces, creams & dressings, and likewise), bacteriological (culture media and microbiology), technical applications (cosmetology and medical applications), and likewise), and by form (powders and splits).
- With growing preference for agar as natural ingredient by the pharmaceuticals and food & beverages vertical, the global agar market is expected to witness an exponentiation in the near future.
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Agar Market Segmentation
By Form:
- Food & Beverages
- Bakery
- Confectionery
- Dairy
- Canned Meat/Poultry Products
- Beverages
- Sauces, Creams, & Dressings
- Others
- Bacteriological
- Culture Media
- Microbiology
- Technical Applications
- Cosmetology
- Medical Applications
- Others
By Form:
- Splits
- Powders
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific Excluding Japan (APEJ)
- The Middle East & Africa
- Japan
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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