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 most commonly gathered along the northern coasts of Spain, Portugal, and Morocco. Some gracilaria species favour the warm waters off Thailand and Indonesian beaches, while others prefer the frigid waters off Chilean and Canadian coasts. Halal and kosher cuisine are gaining popularity. Because of its improved temperature durability and remarkable performance as a gelling agent in dairy products, agar is becoming more popular in the bread sector.
Because of its extensive applications in the culinary and pharmaceutical industries, the Agar Market is constantly rising. Agar, which is generated from seaweed, is utilised as a natural gelling and stabilising element in a range of applications. Market expansion is being driven by rising demand for plant-based components, as well as expanded application in microbiological research.
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Agar can be purchased in powdered or stripped form. It’s becoming more common in icings, pie fillings, and meringues as a thickener or stabiliser. Buns and cakes are often pre-packaged in a variety of modern wrapping materials, but they frequently end up clinging to them, particularly in warm weather. In some cases, agar may help to create smoother, more stable, and nonstick icing. The “Gracilaria chilensis” agars are used to make sugary delicacies like fruit candies. The good news is that agar has no flavour and hence has no effect on the taste of food.
Future Market Insights’ most recent market study, “Agar Market,” offers these information and future estimates. It has analysts and consultants who specialise in that field and can do primary, secondary, and tertiary research from the ground up.
According to a Future Market Insights expert, the worldwide agar market is expected to grow significantly in the next years due to increased end-consumer preference for natural ingredients across the food and beverage sector.
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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
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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