The global Agar Agar market stood at approximately 180 thousand tonnes in 2023 and is anticipated to grow at a CAGR of 4.98% during the forecast period until 2034.
Agar, derived from the polysaccharide agarose found in the cell walls of red algae (Rhodophyta), notably Gracilaria, Gelidium, and Gelidiella species, is commercially cultivated for its various applications. Initially, Gracilaria chilensis from Chile's southern coast was extensively farmed, while Gelidium seaweed is primarily harvested in Morocco, Portugal, and Spain. Gracilaria species are abundant in cold waters, including Canada's Atlantic coast, with some adapting to tropical climates like those in Indonesia and Thailand. Agar agar serves as a gelling agent in foods like jellies and ice cream, and as a thickener in soups and sauces. Its vegan nature makes it a popular gelatin substitute, also utilized as a stabilizer in processed foods such as cream cheese and margarine.
The market growth of agar is propelled by several key drivers, notably its diverse applications in the food and beverage industry. Its increasing utilization in foods and drinks, positioned as healthier alternatives, is driven by the perceived health benefits associated with agar. The adaptability of agar fosters innovation in product development, providing manufacturers with versatile options to incorporate agar into formulations and diversify product lines. Particularly, agar serves as a viable substitute for gelatin in culinary items, catering to the rising demand for vegetarian and vegan dietary preferences. This trend reflects a broader shift towards plant-based alternatives in the food industry, where agar's properties offer functional benefits while aligning with consumer preferences for sustainable and ethical food choices. As consumer awareness grows and dietary preferences evolve, agar's prominence as a versatile ingredient in the food and beverage sector is expected to continue driving market growth, fostering further innovation and expansion within the industry. The global Agar Agar market is likely to reach approximately 300 thousand tonnes in 2034.
Asia Pacific region is poised for fastest Agar Agar market expansion due to various reasons. Firstly, the region's diverse culinary traditions and dietary preferences contribute to a high demand for Agar Agar as a versatile ingredient in various food and beverage applications. Additionally, the growing trend towards vegetarian and vegan diets across countries in the Asia Pacific region drives the popularity of Agar Agar as a plant-based alternative to gelatin. Furthermore, the region's burgeoning food and beverage industry, coupled with increasing disposable incomes and urbanization, creates a conducive environment for the expansion of Agar Agar market. Moreover, Agar Agar's wide range of applications, including its use as a gelling agent, thickener, and stabilizer, enhances its appeal to manufacturers seeking versatile ingredients for product formulation. As a result, the Asia Pacific region stands poised to experience significant growth in the Agar Agar market, driven by consumer demand, dietary trends, and the expanding food industry landscape in the region. North America and Europe also playing significant roles as consumers owing to application of agar agar in the Food & Beverage industry.
Based on the end-use, the global Agar Agar market is divided into Food & Beverages, Microbiology, Pharmaceutical, and Others. Among these industries, Food & Beverages is the dominating segment and held about 65% of the global Agar Agar market in 2023.
Major players in the Global Agar Agar market are Neogen Food Safety, HISPANAGARA, GARMEX, S.A., INDUSTRIAS ROKO S.A., PT. Agarindo Bogatama, SETEXAMMSC Co.,Ltd., MARINE SCIENCE CO., LTD., and Others.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2023
Estimated Year: 2024
Forecast Period: 2025-2034
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Objective of the Study:
• To assess the demand-supply scenario of Agar Agar which covers production, demand and supply of Agar Agar market in the globe.
• To analyse and forecast the market size of Agar Agar
• To classify and forecast Global Agar Agar market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Agar Agar market in the globe.
To extract data for Global Agar Agar market, primary research surveys were conducted with Agar Agar manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Global Agar Agar market over the coming years.
ChemAnalyst calculated Agar Agar demand across the globe by analyzing the volume of Agar Agar consumed by the end-use and the forecast is calculated based on the growth rate of end-use industries. ChemAnalyst sourced these values from industry experts and company representatives and externally validated them by analyzing the historical sales data of respective manufacturers to determine the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Agar Agar manufacturers and other stakeholders
• Organizations, forums and alliances related to Agar Agar distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Agar Agar manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Global Agar Agar market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Market size Volume in 2023
180 thousand tonnes
Market size Volume in 2034
300 thousand tonnes
Growth Rate
CAGR of 4.98% from 2024 to 2034
Base year
2023
Estimated year
2024
Historical Data
2015 – 2022
Forecast period
2025 – 2034
Quantitative units
Demand in thousand tonnes and CAGR from 2024 to 2034
Report coverage
Industry Market Size, Capacity by Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share, Manufacturing Process.
Segments covered
By End-Use: (Food & Beverages, Microbiology, Pharmaceutical, and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
North America, Europe, Asia Pacific, Middle East and Africa, and South America.
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Market Data & Insights
Table of Content
1. Industry Market Size
It is an essential metric for market analysis, as it provides insights into the overall size and growth potential of Agar Agar market in terms of value and volume.
2. Capacity By Company
On our online platform, you can stay up to date with essential manufacturers and their current and future operation capacity on a practically real-time basis for Agar Agar.
3. Capacity By Location
To better understand the regional supply of Agar Agar by analyzing its manufacturers' location-based capacity.
4. Plant Operating Efficiency
To determine what percentage manufacturers are operating their plants or how much capacity is being currently used.
5. Production By Company [Quarterly Update]
Study the historical annual production of Agar Agar by the leading players and forecast how it will grow in the coming years.
6. Demand by End- Use [Quarterly Update]
Discover which end-use (Food & Beverages, Microbiology, Pharmaceutical, and Others) are creating a market and the forecast for the growth of the Agar Agar market.
7. Demand by Region
Analyzing the change in demand of Agar Agar in different regions, i.e., North America, Europe, Asia Pacific, Middle East and Africa, and South America, that can direct you in mapping the regional demand.
8. Demand by Sales Channel (Direct and Indirect)
Multiple channels are used to sell Agar Agar. Our sales channel will help in analyzing whether distributors and dealers or direct sales make up most of the industry's sales.
9. Demand-Supply Gap
Determine the supply-demand gap to gain information about the trade surplus or deficiency of Agar Agar.
10. Company Share
Figure out what proportion of the market share of Agar Agar is currently held by leading players across the globe.
11. Manufacturing Process
Discover insights into the intricate manufacturing process of Agar Agar.
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It also highlights the immediate impact on supply due to planned and unplanned outages as well as upcoming start-up
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of force majeure, affects the plant's operating rate for the given duration. Disruption tracker gives a clear insight
into the worldwide outages affecting the commodity of interest. With every shutdown, it also reflects the impact on
supply of the product in the market at a Global level.
What was the net market size of Agar Agar in terms of volume in 2023?
Ans:
The global market size of Agar Agar has reached approximately 180 thousand tonnes in 2023.
Q2.
Which industry is the leading end-user industry of Agar Agar?
Ans:
Food & Beverages industry is the leading end-user industry of Agar Agar globally.
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Ans:
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