The global agar market is expected to increase significantly between 2023 and 2033. The global market is expected to exceed a valuation of US$ 292 million in 2023, according to a study analysis released by Future Market Insights. It is expected to be valued at US$478.4 million by 2033. From 2023 to 2033, the market is predicted to grow at a 5% CAGR.
Gelidium seaweed is harvested primarily along Morocco’s western coast, Spain’s northern coast, and Portugal’s southern coast. While some gracilaria species favour the warm seas off the beaches of Thailand and Indonesia, others prefer the cold waters off the coasts of Chile and Canada. Halal and kosher foods are becoming increasingly popular. Because of its increased temperature endurance and incredible efficacy as a gelling agent in dairy products, agar is being utilised more frequently in the bread industry.
The Agar Market is witnessing substantial growth as a result of its diverse applications in the food and pharmaceutical industries. Agar, derived from seaweed, serves as a natural gelling and stabilizing agent in various products. The rising demand for plant-based ingredients and the increasing use in microbiological research further propel its market expansion.
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Either powdered or stripped agar is available. It is increasingly employed as a thickener or stabiliser in icings, pie fillings, and meringues. Buns and cakes are usually pre-packaged in a variety of modern wrapping materials, but especially during warm weather, they frequently end up clinging to them. Agar may help create an icing that is smoother, more stable, and non-stick in certain conditions. The “Gracilaria chilensis” agars are used to make sweets with more sugar, including fruit candies. The good news is that agar has no flavour, so it doesn’t in any way change how food tastes.
The most recent market report from Future Market Insights, “Agar Market,” contains these statistics and future projections. It has analysts and consultants who specialise in that area who can conduct primary, secondary, and tertiary research using a bottom-up approach.
With increasing end-consumer preference for natural ingredients across the food and beverage sector, the global agar market is anticipated to rise significantly in the next years, according to a Future Market Insights analyst.
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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
The key participants in agar market include Neogen-Food Safety, HISPANAGAR, AGARMEX, S.A., Industrias Roko S.A., PT. Agarindo Bogatama, and likewise. They are into organic as well as inorganic modes of expansion to stay afloat in the agar market.
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.
By Application
By Form
- Food & Beverages
- Bakery
- Confectionery
- Dairy
- Canned meat/poultry products
- Beverages
- Sauces, creams & dressings
- Dietetic products
- Others
- Bacteriological
- Culture media
- Microbiology
- Technical Applications
- Cosmetology
- Medical applications
- Others
By Form
- Splits
- Powders
Key Regions/Countries Covered
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific Excluding Japan (APEJ)
- Middle East & Africa
- Japan
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Future Market Insights (ESOMAR certified 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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