Global Agar Market - Forecast(2022 - 2027)

The Agar Market size was estimated at $239 million in 2020 and is projected to grow at a CAGR of 4.8% during the forecast period 2021-2026. Agar, often known as agar-agar, is a jellylike substance made from algae. Agar is made from agarose, a polysaccharide that forms a supporting structure in the cell walls of some algae species and is liberated when they are cooked. These algae are also called as agarophytes as they belong to the Rhodophyta phylum. Agar is a relatively safe food that is widely used as a vegan alternative for gelatin in a variety of cuisines. The rising demand for agar in a variety of food applications such as a thickening agent in pastries, ice creams, and other desserts, as well as a clarifying ingredient in brewing and winemaking is driving the market. Besides, agar is also used in the canning of meat, fish, poultry, and emulsifier in dairy products. Moreover rising demand for Agar from the pharmaceutical and cosmetics industry, along with technological advancements and raising awareness about the benefits of agar is all set to provide growth opportunities for the agar industry during the forecast period 2021-2026.


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Global Agar Market Report Coverage

The report: “Agar Market Forecast (2021-2026)”, by Industry ARC, covers an in-depth analysis of the following segments of the Agar Market.

By Product Type: Strips, Powder, Flakes and Others.


By Sales Channel: Retail Sale and E- Commerce.


By Application: Pharmaceutics, Cosmetics, Food and Beverages and others.


By Geography: North America (U.S, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Russia and Others), Asia-Pacific (China, Japan India, South Korea, Australia and Others), South America(Brazil, Argentina and others) and Rest of the World (Middle East and Africa)

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Key Takeaways

  • Geographically, the Asia pacific region held 38% of the total agar market share in 2020 owing to the presence of large manufacturers in the region.

  • Rising demand of agar from pharmaceutical and Cosmetics industry is another major force driving the market during the forecast period 2021-2026.

  • Detailed analysis on the Strength, Weakness and Opportunities of the prominent players operating in the market will be provided in the Agar Market. 



  • Restriction on Transportation and Mobility

    Despite a number of factors, transportation and mobility restrictions have resulted in a lack of agar products for various industries, impacting the agar market's sales and earnings. The worldwide supply chain has been disrupted as a result of the export and import restrictions, posing a problem in obtaining seaweed from various nations, which leads to a lack of raw materials required for production. These factors are predicted to act as a major hindrance to the global agar market's growth during the forecast period 2020-2025.

    Global Agar Market Outlook

    Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Agar Market. Key companies of this market 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.

    Developments:

    • In May 2020, Hispanagar launches QSol, a highly soluble agar that enables low temperature dissolution.



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