Industry Background:
Agar or Agar-Agar is typically a strong gelling polysaccharide derived from red seaweeds and characterized by its chemical units of 3-6, anhydro L-Galactose. It also contains sulfate esters in low levels and some methoxy groups. Agar is widely consumed in the Asia Pacific as a flavored jelly where the brittle texture is appreciated. Agar is extensively useful in the food industry as a gelling and thickening agent with particularly good properties in acidic dairy products where it is used as a stabilizer. An additional key property of agar is the large hysteresis between the melting and setting temperatures which are unusual for a polysaccharide. Owing to the hysteresis level of agar gels, it is also used extensively in the baking industry.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
High Growth Market | Asia-Pacific |
Unit | Value (USD Million) |
Key Companies Profiled | Polygal AG (Switzerland), Hispanagar (Spain), Nexira (France), Industrias Roko, S.A. (Spain), Neogen (United States), Merck Group (Germany), Agarindo Bogatama (Indonesia), Setexam (Morocco), Norevo GmbH (Germany) and Myeong Shin Agar (Korea) |
According to AMA, the market for Agar is expected to register a CAGR of 17.6% during the forecast period to 2030. This growth is primarily driven by Growing Veganism Trend and Growing Demand for Healthier Substitutes.
Globally, a noticeable market trend is evident Acquisitive Demand of Agar in Bakery and Confectionery Industry The Food Products sector in the North America region has been increasing at a sustainable rate, and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as Polygal AG (Switzerland), Hispanagar (Spain), Nexira (France), Industrias Roko, S.A. (Spain), Neogen (United States), Merck Group (Germany), Agarindo Bogatama (Indonesia), Setexam (Morocco), Norevo GmbH (Germany) and Myeong Shin Agar (Korea), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In July 2022,Zomato should have acquired its arch rival Swiggy than 10-minute grocery platform Blinkit to avoid the mayhem it is experiencing on Dalal Street.
In July 2023, Renault India currently has three models in its lineup, the Kwid, Triber, and Kiger. Now, according to the latest reports, the automaker is planning to expand its portfolio with three new models by 2025.
Influencing Trend:
Acquisitive Demand of Agar in Bakery and Confectionery Industry
Market Growth Drivers:
Growing Veganism Trend and Growing Demand for Healthier Substitutes
Challenges:
Raw material are not easily available which seems less production
Restraints:
Limited Resources and Easy Availability of Substitutes
Opportunities:
High Demand in Developing Markets
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Agar Market
- Analysis about New Entrants in Agar Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Agar Study Sheds Light on
The Agar Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Agar industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Agar industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.