Agar Market by Form, Application - Global Forecast 2024-2030

List of Tables

[197 Pages Report] The Agar Market size was estimated at USD 326.90 million in 2023 and expected to reach USD 348.01 million in 2024, at a CAGR 6.54% to reach USD 509.43 million by 2030.

Global Agar Market

KEY MARKET STATISTICS
Base Year [2023]	USD 326.90 million
Estimated Year [2024]	USD 348.01 million
Forecast Year [2030]	USD 509.43 million
CAGR (%)	6.54%

Agar is a gelatinous substance derived from seaweed and is commonly used in various culinary and scientific applications. They are extracted from certain types of red algae, including gelidium, gracilaria, and others. Rising awareness of agar's health benefits has accelerated its consumption among the vegan population. Agar has also seen an increasing adoption in the bakery and confectionery sector. Recently, there has been an expansion of agar-agar trade networks due to an improved supply chain. Agar agar gels are stable over a wide range of temperatures, making them suitable for applications such as gel-based sweets, solidifying soups, and other food items. They are also used in the pharmaceutical industry as a binder in tablet formulations and as a medium for the culture of microorganisms for drug testing. However, concerns associated with agar hydration and microbiological contamination and stringent regulations concerning the quality and manufacturing of agar. Market players are constantly working on improving the quality of agar by introducing new production and sourcing methods. Companies have also realized the potential use of agar in nutraceuticals and its versatile applications in developing functional and health-enhancing products.

Regional Insights

In the Americas, agar is used in vegan recipes as a gelatin substance and is widely popular among health-conscious consumers. Agar production in the Americas is primarily driven by small-scale producers and suppliers, and the region also imports from Asian countries to meet the local demand. Some efforts are made in South American countries to cultivate agar as they have the potential for seaweed cultivation. Asia is among the largest producers of agar in the world, with significant manufacturing facilities in Japan, China, and Indonesia. Asian companies cater to diverse industries, including food, pharmaceuticals, and microbiology. They often have extensive networks for sourcing seaweed and processing agar, which is utilized in various Asian cuisines. Manufacturers in Asia have responded to international consumer demand by offering convenient agar products through online distribution channels and some offline retail channels. Europe has limited agar agar production and relies on imports from Asian sources. Specialty and health food companies in Europe often feature agar in their product lines. With the increased interest of the European population in plant-based food, the demand for agar is expected to rise.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Agar Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Agar Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Key Company Profiles

The report delves into recent significant developments in the Agar Market, highlighting leading vendors and their innovative profiles. These include Able Sales Company, Inc., Acroyali Holdings Qingdao Co. Ltd., AgarGel, AGARMEX, S.A. DE C.V., Ashapura Proteins Ltd., Azelis group, B&V srl, Cape Crystal Brands, HISPANAGAR S.A., INDUSTRIAS ROKO S.A., Ingredion Incorporated, Java Biocolloid, MARINE SCIENCE CO., LTD., Merck KGaA, Meron Group, MSC Co.,Ltd., Myeongshin Agar Agar Mfg. Co., Ltd., Neogen Corporation, New Zealand Manuka Group, Norevo GmbH, PT SURYA INDOALGAS, PT. Agarindo Bogatama, Setexam, The Bharat Instruments & Chemicals, and Titan Biotech Limited.

Market Segmentation & Coverage

This research report categorizes the Agar Market to forecast the revenues and analyze trends in each of the following sub-markets:

Form
- Powder
- Strips
Application
- Cosmetics
- Food & Beverage
- Microbiological Research
- Pharmaceuticals
Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam
- Europe, Middle East & Africa
  - Denmark
  - Egypt
  - Finland
  - France
  - Germany
  - Israel
  - Italy
  - Netherlands
  - Nigeria
  - Norway
  - Poland
  - Qatar
  - Russia
  - Saudi Arabia
  - South Africa
  - Spain
  - Sweden
  - Switzerland
  - Turkey
  - United Arab Emirates
  - United Kingdom

The report offers valuable insights on the following aspects:

1. Market Penetration: It presents comprehensive information on the market provided by key players.

2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.

3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.

4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.

5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast of the Agar Market?

2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Agar Market?

3. What are the technology trends and regulatory frameworks in the Agar Market?

4. What is the market share of the leading vendors in the Agar Market?

5. Which modes and strategic moves are suitable for entering the Agar Market?

Product Code: MRR-AD517FAA834A

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Limitations
1.7. Assumptions
1.8. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

4.1. Introduction
4.2. Agar Market, by Region

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Shift towards vegan and vegetarian diets and use in Asian cuisines
  - 5.1.1.2. Exponential demand from microbiology and pharmaceutical industries
  - 5.1.1.3. Growing international production and trade of agar
- 5.1.2. Restraints
  - 5.1.2.1. Fluctuation of agar prices due to changing demands
- 5.1.3. Opportunities
  - 5.1.3.1. Advancements in agar production and R&D for new product applications
  - 5.1.3.2. Emerging adoption of agar in pet food
- 5.1.4. Challenges
  - 5.1.4.1. Stringent regulations concerning the quality and manufacturing of agar
5.2. Market Segmentation Analysis
- 5.2.1. Form: Rising adoption of agar powder owing to their versatility in culinary uses
- 5.2.2. Application: Accelerating use of agar in food & beverage production facilities worldwide
5.3. Market Trend Analysis
5.4. Cumulative Impact of High Inflation
5.5. Porter's Five Forces Analysis
- 5.5.1. Threat of New Entrants
- 5.5.2. Threat of Substitutes
- 5.5.3. Bargaining Power of Customers
- 5.5.4. Bargaining Power of Suppliers
- 5.5.5. Industry Rivalry
5.6. Value Chain & Critical Path Analysis
5.7. Regulatory Framework

6. Agar Market, by Form

6.1. Introduction
6.2. Powder
6.3. Strips

7. Agar Market, by Application

7.1. Introduction
7.2. Cosmetics
7.3. Food & Beverage
7.4. Microbiological Research
7.5. Pharmaceuticals

8. Americas Agar Market

8.1. Introduction
8.2. Argentina
8.3. Brazil
8.4. Canada
8.5. Mexico
8.6. United States

9. Asia-Pacific Agar Market

9.1. Introduction
9.2. Australia
9.3. China
9.4. India
9.5. Indonesia
9.6. Japan
9.7. Malaysia
9.8. Philippines
9.9. Singapore
9.10. South Korea
9.11. Taiwan
9.12. Thailand
9.13. Vietnam

10. Europe, Middle East & Africa Agar Market

10.1. Introduction
10.2. Denmark
10.3. Egypt
10.4. Finland
10.5. France
10.6. Germany
10.7. Israel
10.8. Italy
10.9. Netherlands
10.10. Nigeria
10.11. Norway
10.12. Poland
10.13. Qatar
10.14. Russia
10.15. Saudi Arabia
10.16. South Africa
10.17. Spain
10.18. Sweden
10.19. Switzerland
10.20. Turkey
10.21. United Arab Emirates
10.22. United Kingdom

11. Competitive Landscape

11.1. FPNV Positioning Matrix
11.2. Market Share Analysis, By Key Player
11.3. Competitive Scenario Analysis, By Key Player
- 11.3.1. New Product Launch & Enhancement
  - 11.3.1.1. Meron Group Launches New Dessert Premixes For HoReCA
  - 11.3.1.2. From Picoliter Droplet to Agar Plate, New Method Links Microfluidics to Microbiology
- 11.3.2. Investment & Funding
  - 11.3.2.1. Major Indian Corporations To Invest Rs 1600 Crore In Tripura's Booming Agar Sector

12. Competitive Portfolio

12.1. Key Company Profiles
- 12.1.1. Able Sales Company, Inc.
- 12.1.2. Acroyali Holdings Qingdao Co. Ltd.
- 12.1.3. AgarGel
- 12.1.4. AGARMEX, S.A. DE C.V.
- 12.1.5. Ashapura Proteins Ltd.
- 12.1.6. Azelis group
- 12.1.7. B&V srl
- 12.1.8. Cape Crystal Brands
- 12.1.9. HISPANAGAR S.A.
- 12.1.10. INDUSTRIAS ROKO S.A.
- 12.1.11. Ingredion Incorporated
- 12.1.12. Java Biocolloid
- 12.1.13. MARINE SCIENCE CO., LTD.
- 12.1.14. Merck KGaA
- 12.1.15. Meron Group
- 12.1.16. MSC Co.,Ltd.
- 12.1.17. Myeongshin Agar Agar Mfg. Co., Ltd.
- 12.1.18. Neogen Corporation
- 12.1.19. New Zealand Manuka Group
- 12.1.20. Norevo GmbH
- 12.1.21. PT SURYA INDOALGAS
- 12.1.22. PT. Agarindo Bogatama
- 12.1.23. Setexam
- 12.1.24. The Bharat Instruments & Chemicals
- 12.1.25. Titan Biotech Limited
12.2. Key Product Portfolio

13. Appendix

13.1. Discussion Guide
13.2. License & Pricing