Global Agar Market - Forecast(2021 - 2026)

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Global Agar Market Overview 

Global Agar Market size was valued at $4.95 Million by 2019, and is anticipated to grow at a CAGR of 6.65% during the forecast period 2020-2025. The Global Agar Market growth rate is attributed to the growing demand for dairy products in line with the westernization of diets has aided industry growth in recent years. The product is widely used in dairy products such as milk, cheese, yogurts, creams, custard, curd, spreads, mousses, puddings, infant-formula, confectioneries, beverages, and smoothies. Agar is derived from the polysaccharide agarose, which forms the supporting structure in the cell walls of agarophytes belonging to the Rhodophyta (Red algae) phylum; gracilaria, gelidium and gelidiella which are a genus of red algae, are cultivated commercially for the production of agar. Commercial cultivation of Gracilaria was initially carried out using gracilaria chilensis, which is a red seaweed originating from the southern coast of Chile. Gelidium seaweed is primarily harvested on the western coast of Morocco, southern coast of Portugal and the northern coast of Spain. While, gracilaria species are widely present in cold waters such as southern coast of Chile and the Atlantic coast of Canada. However, some species have adapted to the tropical waters of Indonesia and Thailand.

However, the restrictions on transportation and mobility have led to the shortage in supply of agar products to various other industries, thereby affecting the sales and revenue of the agar market.

Report Coverage

The report: “Global Agar Market Forecast (2020-2025)”, by Industry ARC, covers an in-depth analysis of the following segments of the Global Agar Market:
By Product Types: Strips, Powder, Flakes and Others.
By Applications: Food and Beverage, Pharmaceuticals, Other Applications.
By Geography: North America, Europe, Asia-Pacific and RoW.

Key Takeaways

  • Europe dominated the Global Agar Market with a share of 37.5% in the year 2019.
  • The factors such as increase in requirement of agar-agar, extended industry vertical, health benefits of agar are amongst the major factor projected to impel growth of Global Agar Market.
  • Investment in R&D, increasing awareness about healthy ingredients and food products, increase in disease conditions, regulatory approval for use of agar as a food additive are the key factors owing to the growth in the segment during forecast period 2020-2025.

Global Agar Market Segment Analysis - By Applications

On the basis of applications, food and beverage segment held the major share of the market in terms of revenue and is poised to grow with a CAGR of 6.50%. This can be attributed to the fact that the gum is used as an archetypal gelling agent in aerated confectionery products such as marshmallows. Conducive gelling properties have also made the product a favorable option for preparing fruit confectionary which is highly popular in Asian countries. Furthermore, excellent heat resistance and stabilizing properties of the product have also spurred its demand in ice creams, pie fillings, meringues, and other desserts in the pastry & bakery industries. Rising consumer awareness regarding the benefits of baked foods in terms of lower fat content and healthier digestion is promoting segment growth as well.

Global Agar Market Segment Analysis - By Geography

Europe dominated the Global Agar Market with a share of 39.5% in 2019. Europe emerged as the dominant regional market owing to high demand from consumers & food processors alike. Companies are actively attempting to invest in the European market by participating in food ingredient shows to introduce greater product variety and lower-cost alternatives to gelatin and conventional products.

Apart from this, Asia-pacific is also anticipated to have the highest growth rate during the forecast period 2020-2025 owing to the growing preference for vegan products.

Global Agar Market Drivers

Improved extraction technology

The global agar market is poised to receive upswing with its presence in cell wall of seaweeds which are obtained from low depths in water sources and further processing is done to obtain the jelly-like substance. Initially, it was obtained by using boiling water and extraction process but as the technology has improved the agar is commercially produced on a large scale by using advanced equipment. The increase in requirement of agar-agar, extended industry vertical, health benefits of agar, investment in the harvesting of agar, improved quality of the end product, advancement in technology and equipment used, investment in R&D, increasing awareness about healthy ingredients and food products, increase in disease conditions, regulatory approval for use of agar as a food additive and surge in disposable income are the key drivers which lead the growth of global agar market.

Global Agar Market Challenges

Restrictions on transportation and mobility

Despite several drivers, the restrictions on transportation and mobility have led to the shortage in supply of agar products to various other industries, thereby affecting the sales and revenue of the agar market.

The disruption of the global supply chain owing to the ban on export and import has created a problem in the procurement of seaweeds from various countries which has further led to a shortage of raw material required for the production.

Global Agar Industry Outlook

Product launches, mergers and acquisitions, joint ventures and geographical expansions are key strategies adopted by players in the Global Agar Market. In 2019, Global Agar Market share is fragmented by the top ten players present in the market. Global Agar Market top 10 companies are Meron Group, Myeong Shin Agar, Marine Science Co., Ltd, Agarmex, Orient Resources Company, B&V, Tic Gums, Titan Biotech Ltd, AgarGel, Central Drug House (P) Ltd., Agar Shallow,  AsionsChem, Indoalgas, Able Sales Company and others.

Acquisitions/Product Launches

  • In February 2016, Puritan Medical Products, North America’s largest manufacturer of swabs and specimen collection devices, announced Opti-Tranz™ and Opti-Tranz™ Plus, a brand new line of traditional liquid and agar gel collection and transport systems for bacteriological applications.

1. Global Agar Market Overview
    1.1 Definitions and Scope
2. Global Agar Market - Executive Summary
    2.1 Market Revenue and Key Trends by Company
    2.2 Key trends by Product Type
    2.3 Key trends by Applications
    2.4 Key trends by Geography
3. Global Agar Market – Comparative Analysis
    3.1 Product Benchmarking – Key Companies
    3.2 Financial Analysis – Key Companies
    3.3 Patent Analysis – Key Companies
    3.4 Pricing Analysis
4. Global Agar Market - Startup Companies Scenario Premium
    4.1 Key Startup Company Analysis by
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Venture Capital and Funding Scenario
5. Global Agar Market – Industry Market Entry Scenario Premium Premium
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing business index
    5.3 Case Studies of Successful Ventures
6. Global Agar Market Forces
    6.1 Market Drivers
    6.2 Market Constraints/Challenges
    6.3 Porters five force model
        6.3.1 Bargaining power of suppliers
        6.3.2 Bargaining powers of customers
        6.3.3 Threat of new entrants
        6.3.4 Rivalry among existing players
        6.3.5 Threat of substitutes 
7. Global Agar Market – Strategic Analysis
    7.1 Value Chain Analysis
    7.2 Opportunities Analysis
    7.3 Market Life Cycle
8. Global Agar Market – By Product Types (Market Size –$Million/$Billion)
    8.1 Strips
    8.2 Powder
    8.3 Flakes
    8.4 Others
9. Global Agar Market - By Applications (Market Size –$Million/$Billion)
    9.1 Food and Beverage
        9.1.1 Meat Products
        9.1.2 Bakery
        9.1.3 Confectionary
        9.1.4 Snacks/Instant Noodles
        9.1.5 Dairy
        9.1.6 Beverage
        9.1.7 Other Food and Beverages
    9.2 Pharmaceuticals
    9.3 Other Applications 
10. Global Agar Market - By Geography (Market Size –$Million/$Billion)
    10.1 North America
        10.1.1 U.S.
        10.1.2 Canada
        10.1.3 Mexico
    10.2 Europe
        10.2.1 U.K.
        10.2.2 Germany
        10.2.3 France
        10.2.4 Italy
        10.2.5 Spain
        10.2.6 Rest of Europe
    10.3 Asia-Pacific
        10.3.1 China
        10.3.2 India
        10.3.3 Japan
        10.3.4 South Korea
        10.3.5 Australia & New Zealand
        10.3.6 Rest of Asia-Pacific
    10.4 Rest of the World
        10.4.1 Middle East
        10.4.2 Africa
        10.4.3 South America
11. Global Agar Market - Entropy
12. Global Agar Market – Industry/Segment Competition Landscape Premium
    12.1 Market Share Analysis
        12.1.1 Global Market Share – Key Companies
        12.1.2 Market Share by Region – Key companies
        12.1.3 Market Share by Countries – Key Companies
        12.1.4 Best Practices for Companies
13. Global Agar Market – Key Company List by Country Premium Premium
14. Global Agar Market Company Analysis
    14.1 Company 1
    14.2 Company 2
    14.3 Company 3
    14.4 Company 4
    14.5 Company 5
    14.6 Company 6
    14.7 Company 7
    14.8 Company 8
    14.9 Company 9
    14.10 Company 10
"*Financials for private companies would be provided on a best efforts basis”.

LIST OF TABLES

1.Global Market Segmentation Market 2019-2024 ($M)
1.1 By Application Market 2019-2024 ($M) - Global Industry Research
1.1.1 Meat Products Market 2019-2024 ($M)
1.1.2 Bakery and Confectionaries Market 2019-2024 ($M)
1.1.3 Dairy products Market 2019-2024 ($M)
1.1.4 Sports and Health foods Market 2019-2024 ($M)
1.1.5 Beverage Market 2019-2024 ($M)
1.2 By Form Market 2019-2024 ($M) - Global Industry Research
1.2.1 Strips Market 2019-2024 ($M)
1.2.2 Powder Market 2019-2024 ($M)
1.3 By Function Market 2019-2024 ($M) - Global Industry Research
1.3.1 Coating Market 2019-2024 ($M)
1.3.2 Fat Replacers Market 2019-2024 ($M)
1.3.3 Stabilization Market 2019-2024 ($M)
1.3.4 Thickening Market 2019-2024 ($M)
1.4 By Source Market 2019-2024 ($M) - Global Industry Research
1.4.1 Microorganisms Market 2019-2024 ($M)
1.4.2 Plant Market 2019-2024 ($M)
1.4.3 Chemical Manufacturing and Processing Market 2019-2024 ($M)
1.4.4 Marine Market 2019-2024 ($M)
1.4.5 Asia-Pasific Market 2019-2024 ($M)
2.Global Market Segmentation Market 2019-2024 (Volume/Units)
2.1 By Application Market 2019-2024 (Volume/Units) - Global Industry Research
2.1.1 Meat Products Market 2019-2024 (Volume/Units)
2.1.2 Bakery and Confectionaries Market 2019-2024 (Volume/Units)
2.1.3 Dairy products Market 2019-2024 (Volume/Units)
2.1.4 Sports and Health foods Market 2019-2024 (Volume/Units)
2.1.5 Beverage Market 2019-2024 (Volume/Units)
2.2 By Form Market 2019-2024 (Volume/Units) - Global Industry Research
2.2.1 Strips Market 2019-2024 (Volume/Units)
2.2.2 Powder Market 2019-2024 (Volume/Units)
2.3 By Function Market 2019-2024 (Volume/Units) - Global Industry Research
2.3.1 Coating Market 2019-2024 (Volume/Units)
2.3.2 Fat Replacers Market 2019-2024 (Volume/Units)
2.3.3 Stabilization Market 2019-2024 (Volume/Units)
2.3.4 Thickening Market 2019-2024 (Volume/Units)
2.4 By Source Market 2019-2024 (Volume/Units) - Global Industry Research
2.4.1 Microorganisms Market 2019-2024 (Volume/Units)
2.4.2 Plant Market 2019-2024 (Volume/Units)
2.4.3 Chemical Manufacturing and Processing Market 2019-2024 (Volume/Units)
2.4.4 Marine Market 2019-2024 (Volume/Units)
2.4.5 Asia-Pasific Market 2019-2024 (Volume/Units)
3.North America Market Segmentation Market 2019-2024 ($M)
3.1 By Application Market 2019-2024 ($M) - Regional Industry Research
3.1.1 Meat Products Market 2019-2024 ($M)
3.1.2 Bakery and Confectionaries Market 2019-2024 ($M)
3.1.3 Dairy products Market 2019-2024 ($M)
3.1.4 Sports and Health foods Market 2019-2024 ($M)
3.1.5 Beverage Market 2019-2024 ($M)
3.2 By Form Market 2019-2024 ($M) - Regional Industry Research
3.2.1 Strips Market 2019-2024 ($M)
3.2.2 Powder Market 2019-2024 ($M)
3.3 By Function Market 2019-2024 ($M) - Regional Industry Research
3.3.1 Coating Market 2019-2024 ($M)
3.3.2 Fat Replacers Market 2019-2024 ($M)
3.3.3 Stabilization Market 2019-2024 ($M)
3.3.4 Thickening Market 2019-2024 ($M)
3.4 By Source Market 2019-2024 ($M) - Regional Industry Research
3.4.1 Microorganisms Market 2019-2024 ($M)
3.4.2 Plant Market 2019-2024 ($M)
3.4.3 Chemical Manufacturing and Processing Market 2019-2024 ($M)
3.4.4 Marine Market 2019-2024 ($M)
3.4.5 Asia-Pasific Market 2019-2024 ($M)
4.South America Market Segmentation Market 2019-2024 ($M)
4.1 By Application Market 2019-2024 ($M) - Regional Industry Research
4.1.1 Meat Products Market 2019-2024 ($M)
4.1.2 Bakery and Confectionaries Market 2019-2024 ($M)
4.1.3 Dairy products Market 2019-2024 ($M)
4.1.4 Sports and Health foods Market 2019-2024 ($M)
4.1.5 Beverage Market 2019-2024 ($M)
4.2 By Form Market 2019-2024 ($M) - Regional Industry Research
4.2.1 Strips Market 2019-2024 ($M)
4.2.2 Powder Market 2019-2024 ($M)
4.3 By Function Market 2019-2024 ($M) - Regional Industry Research
4.3.1 Coating Market 2019-2024 ($M)
4.3.2 Fat Replacers Market 2019-2024 ($M)
4.3.3 Stabilization Market 2019-2024 ($M)
4.3.4 Thickening Market 2019-2024 ($M)
4.4 By Source Market 2019-2024 ($M) - Regional Industry Research
4.4.1 Microorganisms Market 2019-2024 ($M)
4.4.2 Plant Market 2019-2024 ($M)
4.4.3 Chemical Manufacturing and Processing Market 2019-2024 ($M)
4.4.4 Marine Market 2019-2024 ($M)
4.4.5 Asia-Pasific Market 2019-2024 ($M)
5.Europe Market Segmentation Market 2019-2024 ($M)
5.1 By Application Market 2019-2024 ($M) - Regional Industry Research
5.1.1 Meat Products Market 2019-2024 ($M)
5.1.2 Bakery and Confectionaries Market 2019-2024 ($M)
5.1.3 Dairy products Market 2019-2024 ($M)
5.1.4 Sports and Health foods Market 2019-2024 ($M)
5.1.5 Beverage Market 2019-2024 ($M)
5.2 By Form Market 2019-2024 ($M) - Regional Industry Research
5.2.1 Strips Market 2019-2024 ($M)
5.2.2 Powder Market 2019-2024 ($M)
5.3 By Function Market 2019-2024 ($M) - Regional Industry Research
5.3.1 Coating Market 2019-2024 ($M)
5.3.2 Fat Replacers Market 2019-2024 ($M)
5.3.3 Stabilization Market 2019-2024 ($M)
5.3.4 Thickening Market 2019-2024 ($M)
5.4 By Source Market 2019-2024 ($M) - Regional Industry Research
5.4.1 Microorganisms Market 2019-2024 ($M)
5.4.2 Plant Market 2019-2024 ($M)
5.4.3 Chemical Manufacturing and Processing Market 2019-2024 ($M)
5.4.4 Marine Market 2019-2024 ($M)
5.4.5 Asia-Pasific Market 2019-2024 ($M)
6.APAC Market Segmentation Market 2019-2024 ($M)
6.1 By Application Market 2019-2024 ($M) - Regional Industry Research
6.1.1 Meat Products Market 2019-2024 ($M)
6.1.2 Bakery and Confectionaries Market 2019-2024 ($M)
6.1.3 Dairy products Market 2019-2024 ($M)
6.1.4 Sports and Health foods Market 2019-2024 ($M)
6.1.5 Beverage Market 2019-2024 ($M)
6.2 By Form Market 2019-2024 ($M) - Regional Industry Research
6.2.1 Strips Market 2019-2024 ($M)
6.2.2 Powder Market 2019-2024 ($M)
6.3 By Function Market 2019-2024 ($M) - Regional Industry Research
6.3.1 Coating Market 2019-2024 ($M)
6.3.2 Fat Replacers Market 2019-2024 ($M)
6.3.3 Stabilization Market 2019-2024 ($M)
6.3.4 Thickening Market 2019-2024 ($M)
6.4 By Source Market 2019-2024 ($M) - Regional Industry Research
6.4.1 Microorganisms Market 2019-2024 ($M)
6.4.2 Plant Market 2019-2024 ($M)
6.4.3 Chemical Manufacturing and Processing Market 2019-2024 ($M)
6.4.4 Marine Market 2019-2024 ($M)
6.4.5 Asia-Pasific Market 2019-2024 ($M)
7.MENA Market Segmentation Market 2019-2024 ($M)
7.1 By Application Market 2019-2024 ($M) - Regional Industry Research
7.1.1 Meat Products Market 2019-2024 ($M)
7.1.2 Bakery and Confectionaries Market 2019-2024 ($M)
7.1.3 Dairy products Market 2019-2024 ($M)
7.1.4 Sports and Health foods Market 2019-2024 ($M)
7.1.5 Beverage Market 2019-2024 ($M)
7.2 By Form Market 2019-2024 ($M) - Regional Industry Research
7.2.1 Strips Market 2019-2024 ($M)
7.2.2 Powder Market 2019-2024 ($M)
7.3 By Function Market 2019-2024 ($M) - Regional Industry Research
7.3.1 Coating Market 2019-2024 ($M)
7.3.2 Fat Replacers Market 2019-2024 ($M)
7.3.3 Stabilization Market 2019-2024 ($M)
7.3.4 Thickening Market 2019-2024 ($M)
7.4 By Source Market 2019-2024 ($M) - Regional Industry Research
7.4.1 Microorganisms Market 2019-2024 ($M)
7.4.2 Plant Market 2019-2024 ($M)
7.4.3 Chemical Manufacturing and Processing Market 2019-2024 ($M)
7.4.4 Marine Market 2019-2024 ($M)
7.4.5 Asia-Pasific Market 2019-2024 ($M)

LIST OF FIGURES

1.US Global Agar Market Revenue, 2019-2024 ($M)
2.Canada Global Agar Market Revenue, 2019-2024 ($M)
3.Mexico Global Agar Market Revenue, 2019-2024 ($M)
4.Brazil Global Agar Market Revenue, 2019-2024 ($M)
5.Argentina Global Agar Market Revenue, 2019-2024 ($M)
6.Peru Global Agar Market Revenue, 2019-2024 ($M)
7.Colombia Global Agar Market Revenue, 2019-2024 ($M)
8.Chile Global Agar Market Revenue, 2019-2024 ($M)
9.Rest of South America Global Agar Market Revenue, 2019-2024 ($M)
10.UK Global Agar Market Revenue, 2019-2024 ($M)
11.Germany Global Agar Market Revenue, 2019-2024 ($M)
12.France Global Agar Market Revenue, 2019-2024 ($M)
13.Italy Global Agar Market Revenue, 2019-2024 ($M)
14.Spain Global Agar Market Revenue, 2019-2024 ($M)
15.Rest of Europe Global Agar Market Revenue, 2019-2024 ($M)
16.China Global Agar Market Revenue, 2019-2024 ($M)
17.India Global Agar Market Revenue, 2019-2024 ($M)
18.Japan Global Agar Market Revenue, 2019-2024 ($M)
19.South Korea Global Agar Market Revenue, 2019-2024 ($M)
20.South Africa Global Agar Market Revenue, 2019-2024 ($M)
21.North America Global Agar By Application
22.South America Global Agar By Application
23.Europe Global Agar By Application
24.APAC Global Agar By Application
25.MENA Global Agar By Application
26.Polygal AG, Sales /Revenue, 2015-2018 ($Mn/$Bn)
27.Hispanagar, Sales /Revenue, 2015-2018 ($Mn/$Bn)
28.Nexira, Sales /Revenue, 2015-2018 ($Mn/$Bn)
29.Industrias Roko, S.A., Sales /Revenue, 2015-2018 ($Mn/$Bn)
30.Neogen, Sales /Revenue, 2015-2018 ($Mn/$Bn)
31.Merck Group, Sales /Revenue, 2015-2018 ($Mn/$Bn)
32.Agarindo Bogatama, Sales /Revenue, 2015-2018 ($Mn/$Bn)
33.Setexam, Sales /Revenue, 2015-2018 ($Mn/$Bn)
34.Norevo GmbH, Sales /Revenue, 2015-2018 ($Mn/$Bn)
35.Myeong Shin Agar, Sales /Revenue, 2015-2018 ($Mn/$Bn)
36.Marine Science Co., Ltd., Sales /Revenue, 2015-2018 ($Mn/$Bn)
37.Agarmex, Sales /Revenue, 2015-2018 ($Mn/$Bn)
38.Ashland Specialty Ingredients, Sales /Revenue, 2015-2018 ($Mn/$Bn)
39.Tanisco A/C, Sales /Revenue, 2015-2018 ($Mn/$Bn)