Registering a CAGR of 5.55% over the forecast period of 2022-2027, the global agar market size is anticipated to reach the market value of US$ 415.8 million in the year 2027 from US$ 316 million in the year 2021.
Agar Market Overview
Agar is produced from agarose, a polymer found in the cell walls of some algae species that is released when they are boiled. Because they belong to the Rhodophyta phylum, these algae are sometimes known as agarophytes. Agar is a relatively safe substance that is commonly used in a number of cuisines as a vegan substitute for gelatin. The market is being driven by increased demand for agar as a thickening agent in pastries, ice creams, and other desserts, as well as a clarifying component in brewing and winemaking. Agar is also used as an emulsifier in dairy products and in the canning of meat, fish, and poultry. Furthermore, rising demand for Agar from the pharmaceutical and cosmetics industries, as well as technical developments and increased knowledge about the benefits of agar, are expected to propel the agar industry forward during the forecast period.
The agar market is gaining traction as the finest vegetarian alternative to gelatin. Growing public awareness of the benefits of a vegan diet has given the industry a boost. The demand for agar to grow bacteria and other microorganisms has increased as research activities in microbiological laboratories have increased. The use of agar in a variety of products, including bakery and confectionaries, meat and dairy products, and others, has strengthened the industry.
Industry News and Updates
28 April 2020: Hispanagar launches highly soluble agar that enables low temperature dissolution--
Hispanagar has launched QSol high solubility agar. This product is a natural hydrocolloid extracted from red seaweed, which dissolves at lower temperatures with less time than traditional agar. This kind of agar is completely dissolved in water at 80ºC, saving over 25% of energy compared to traditional agar during industrial processing, keeping all properties.
What are the major Applications, Types and Regions for Agar Market?
By Type, Agar Market has been segmented into
- Wild Harvest Gelidium Agar
- Aquafarm Gelidium Agar
- Other Aquafarm Agar
In terms of product, Aquafarm Gracilaria Agar is the largest segment, with a share about 35%.
By Applications, Agar Market has been segmented into
- Food Industry
- Pharmaceutic
- Cosmetics
- Daily Chemical
- Scientific Research
Agar Market Regional Analysis:
In 2020, APAC dominated the Agar Market with a 37% market share, followed by Europe and North America. A growing inclination for vegan products, as well as the presence of a significant number of agar manufacturing companies that invest heavily in research, are all expected to drive the agar market in APAC. Europe region is predicted to see the demand maturing in the Agar market owing to the high demand from the confectionary companies. Agar is used to manufacture ice cream, bakery and confectionaries, dairy products, sports and health foods, and beverages, among other things. The powdered form of agar is the most popular because of its high ease of use coefficient.
North America
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- Rest of the World
- Middle East & Africa
- Latin America
What is our Agar Market report scope?
Report Attributes
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Report Details
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Forecast Period 2022 to 2027 CAGR
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CAGR of 5.55% during the review period (2022 to 2027).
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By Type
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- Wild Harvest Gelidium Agar
- Aquafarm Gelidium Agar
- Others
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By Application
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- Food Industry
- Pharmaceutic
- Cosmetics
- Daily Chemical
- Scientific Research
- Others
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By Companies
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Green Fresh, Kingyen, Shantou Chenghai District Agar Glue Factory, Huey shyang, Fuli Agar Factory, Meron Group, Mingfu Fujian Agar Co., Marine Hydrocolloids, ROKO, Agarmex, Hispanagar, Sobigel, B&V Agar, Iberagar, Global BioIngredients, Fujian Global Ocean Biotechnology, Taike Biotechnology, Agar Brasileiro, Fujian Wuyi Feiyan Agar, and others.
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Regions Covered
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- North America
- Europe
- Asia-Pacific
- Rest of the World
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Countries Covered
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- US
- Canada
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- Middle East & Africa
- Latin America
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Base Year
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2022
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Historical Year
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2017 to 2021
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Forecast Year
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2022 to 2027
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Number of Pages
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120
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Customization Available
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Yes, the report can be customized as per your needs
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Key Takeaways from this Agar Report
- Evaluate Agar market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level - for product types, end use applications, and by different industry verticals.
- Understand the different dynamics influencing the market - key driving factors, challenges and hidden opportunities.
- Get in-depth insights on your competitor's performance - market shares, strategies, financial benchmarking, product benchmarking, SWOT and more.
- Analyze the sales and distribution channels across key geographies to improve top-line revenues.
- Understand the industry supply chain with a deep dive on the value augmentation at each step, in order to optimize value and bring efficiencies in your processes.
- Get a quick outlook on the Agar market entropy - M&As, deals, partnerships, product launches of all key players for the past 4 years.
- Evaluate the supply-demand gaps, import-export statistics and regulatory landscape for more than top 20 countries globally for the market.
Frequently Asked Questions
What is the study period of this market?
The Agar Market is studied from 2017 - 2027.
What is the growth rate of Agar Market?
The Agar Market is growing at a CAGR of 5.55% over the next 5 years.
What regions does this Agar Market report cover?
North America (the United States, Canada, and Mexico)
Europe (Germany, France, UK, Russia, and Italy)
Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
South America (Brazil, Argentina, Colombia, etc.)
The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)
What are the significant types of Agar Market?
Wild Harvest Gelidium Agar, Aquafarm Gelidium Agar, Others
What are the major end-use applications of the Agar Market?
Food Industry, Pharmaceutic, Cosmetics, Daily Chemical, Scientific Research, Others
All our reports are customizable to your company's needs to a certain extent, we do provide 5 free consulting hours along with purchase of each report, and this will allow you to request any additional data to customize the report to your needs.
SECONDARY RESEARCH
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
PRIMARY RESEARCH
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
MARKET ENGINEERING
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
EXPERT VALIDATION
The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.
