New York, May 16, 2022 (GLOBE NEWSWIRE) -- The Insight Partners published the latest research study on Agar-Agar Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Form (Flakes, Powder, and Others), Application (Food & Beverages, Pharmaceuticals & Nutraceuticals, and Others), and Geography. The growing inclination toward veganism is projected to open lucrative growth opportunities for the agar-agar market in the coming years. Agar-agar is a hydrocolloid extracted from red algae seaweed. Gracilaria and Gelidium are the commercially used species of red algae for the production of agar-agar. Agar-agar is used as a thickener, stabilizer, and gelling agent in the food & beverages industry. It has a higher melting point than other gelling agents.
It is commonly available in powder, flakes, and threads format. Agar-agar is a vegetarian substitute for gelatin and is gaining huge traction among the vegan population. It is widely used in Asian cuisines. The rising demand for convenience food & beverages products is driving the growth of the agar-agar market.
The Sample Pages Showcases Content Structure and Nature of Information Included in This Research Study Which Presents a Qualitative and Quantitative Analysis: https://www.theinsightpartners.com/sample/TIPRE00015655/
| Report Coverage | Details |
| Market Size Value in | US$ 323.65Mn in 2021 |
| Market Size Value by | US$ 459.41Mn by 2028 |
| Growth rate | CAGR of 5.1% from 2021 to 2028. |
| Forecast Period | 2021- 2028 |
| Base Year | 2021 |
| No. of Pages | 177 |
| No. Tables | 120 |
| No. of Charts & Figures | 100 |
| Historical data available | Yes |
| Segments covered | Form and Application |
| Regional scope | North America; Europe; Asia Pacific; Latin America; MEA |
| Country scope | US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Agar-Agar Market: Competition Landscape and Key Developments
The leading players in the agar-agar market include Agar Sari Jaya; Agar Swallow Indonesia; Gino Biotech; Hugestone Enterprise Co., Ltd.; Justchem International Limited; Meron; Pt. Agarindo Bogatama; Pt. Kappa Carrageenan Nusantara; Pt. Surya Indoalgas; and Roland Foods, LLC. These players are focusing on developing innovative products to meet the changing requirements of consumers. Moreover, they are focusing on product quality to meet the quality concerns of consumers. They are also providing kosher and halal-certified products to cater to the specific requirements of potential consumers. Such strategies help the leading players to boost their revenues and retain their market share.
Asia-Pacific is projected to grow at the fastest CAGR in the global agar-agar market over the forecast period. The growth of the agar-agar market across Asia-Pacific is attributed to factors, such as significant seaweed production in countries, including the Philippines, Indonesia, China, and Japan, and the increasing utilization of agar-agar in various regional cuisines.
Agar has conducive gelling properties making it an essential ingredient for preparing fruit confectionaries that are highly popular in Asian countries. It is also used to prepare aerated confectionery products such as marshmallows that are widely consumed in Asia-Pacific countries. There is a high demand for agar-agar across the food & beverage industry in Asia-Pacific, which is one of the primary factors driving the growth of the agar-agar market.
Schedule A Pre-Sale Discussion with The Author Team in A Slot That You Prefer to Address Queries on Scope of the Study, Customization, Introduction to Research Methodology, Assistance on Technologies, and Market Definitions: https://www.theinsightpartners.com/inquiry/TIPRE00015655/
Rising Veganism Trend is Opening Lucrative Growth Opportunities in Agar-Agar Market
The vegan population is growing rapidly. The veganism trend significantly influenced people due to the growing affiliation for animals and increasing awareness regarding animal protection. Consumers are heavily focusing on clean and cruelty-free products. According to data published by Veganuary (a non-profit organization that encourages individuals globally to become vegan for the whole month of January), ~400,000 people signed up for the Veganuary Campaign in 2020. Rising veganism across the globe is creating opportunities for plant-based food products and ingredients. Agar-agar is the vegetarian substitute for gelatin; it is used in various food & beverages products. This factor is projected to potentially boost the growth of the agar-agar market over the forecast period.
Agar-Agar Market: Segmental Overview
Based on form, the agar-agar market is segmented into powder, flakes, and others. The powder segment held the largest market share in 2020; it is projected to grow at the fastest CAGR over the forecast period. Powdered agar is obtained by heating the seaweed in hot water and drying the agar-agar gel using the freeze-thaw or compression. Powdered agar-agar is easy to use. It can be used in gluten-free bakery products. It blends well in different formulations; thus, it can be used in pharmaceutical & nutraceutical applications. Powdered agar is also used in laboratory applications for producing bacterial cultures. PT Agarindo Bogatama, a Jakarta-based company, is a major manufacturer of powdered agar-agar.
Based on application, the agar-agar market is segmented into food & beverages, pharmaceuticals & nutraceuticals, and others. The pharmaceuticals & nutraceuticals segment is projected to grow at the highest CAGR in the agar-agar market over the forecast period. Agar-agar is a soluble dietary fiber and is used as a mild laxative to treat malfunctions of the digestive system. It has a high concentration of water-soluble indigestible fibers, which provides a feeling of fullness and helps in reducing the overall consumption of food. Therefore, it is used in supplements that aid the loss of weight. Agar-agar is a rich source of calcium and magnesium; hence, it is used in medications and supplements that promote bone health. Thus, the increasing demand for agar-agar across the pharmaceuticals & nutraceuticals industry is propelling the agar-agar market growth.
Impact of COVID-19 Pandemic on Agar-Agar Market
The COVID-19 pandemic led to unprecedented challenges across many sectors, such as the food & beverages and nutraceuticals industries. Governments of various countries have announced lockdowns, border restrictions, travel restrictions, the shutdown of manufacturing units, and other safety protocols during the initial months of the pandemic to minimize the spread of SARS-CoV-2. These factors adversely affected the operations of various manufacturing companies. Due to raw material shortages, many agar-agar manufacturers suffered from losses.
There was a decline in the product supply due to supply chain disruptions and labor shortages. However, in the current scenario, the agar-agar market has gained momentum due to the relaxation of the government-imposed restrictions and the reintegration of supply chains. The manufacturers are operating with full capacity, and many countries have completed their vaccination drives. All these factors are projected to boost the growth of the agar-agar market over the forecast period.
Agar-agar is a hydrocolloid found in red algae seaweeds. It has many applications in various end-use industries, such as food & beverages, pharmaceuticals & nutraceuticals, personal care, and biomedical. In the food & beverage industry, it is used as a thickener and gelling agent in various food products, including icings, bakery fillings, cake glazes, jellies, jams, marmalades, and ice creams, and dairy products. It is also used in beers, wines, and juices as a clarifying agent. Agar-agar can effectively substitute gelatin owing to its excellent gelling properties. Moreover, agar-agar is used as a gelling agent and stabilizer because it is derived from seaweeds in several vegan food products.
Have A 15-Minute-Long Discussion with The Lead Research Analyst and Author of the Report in A Time Slot Decided by You. You, Will, Be Briefed About the Contents of the Report, and Queries Regarding the Scope of the Document Will Be Addressed as Well: https://www.theinsightpartners.com/speak-to-analyst/TIPRE00015655/
Manufacturers of agar-agar are significantly investing in research and development to improve existing products and develop new products. These companies are adopting product innovation strategies to differentiate their brands in the minds of consumers, boost their revenues, and fulfill the requirements of potential consumers. Such innovations by prominent companies are projected to offer lucrative growth opportunities to the agar-agar market players over the forecast period.
Based on form, the powder segment accounted for the largest revenue share because agar-agar powder is more stable and easier to produce and pack than other types such as flakes, Bars. Powdered dry agar-agar is soluble in water and other solvents at a temperature ranging from 95°C to 100°C.
Asia-Pacific accounted for the largest share of the global agar-agar market. Seaweed is produced in large quantities in Asian countries, such as China. Agar is far more cost-effective than gelatin, which has led to a surge in its use in various culinary products across the region.
Based on application, the pharmaceutical & nutraceutical is the fastest-growing segment. Agar-Agar is a soluble dietary fiber and is used as a mild laxative in treating malfunctions of the digestive tract for its swelling properties. It is also used as a retarding agent and carrier in managing medicines, antibiotics, and vitamins.
Immediate Delivery of Our Off-The-Shelf Reports and Latest Research Studies, Through Flexible and Convenient Payment Methods: https://www.theinsightpartners.com/buy/TIPRE00015655/
Surging demand for agar-agar in food & beverages industry and growing applications in pharmaceuticals & nutraceuticals are some of the key driving factors for agar-agar market.
Agar is a gelatinous material composed of two components named agarose and agaropectin. Agar is obtained from seaweeds. Agar gets readily dissolved in boiling water. Molten agar solidifies at room temperature and therefore it is used as a solidifying agent. Also, agar is used as a solidifying agent of bacterial semi-solid culture media, as a thickening agent in pastries, ice creams, and other desserts, as a clarifying agent in brewing and winemaking. Moreover, agar is used in canning meat, fish, and poultry.
The veganism trend is growing rapidly, especially across Europe, North America, and Asia-Pacific. People prefer plant-based foods due to increasing awareness regarding animal protection, environmental sustainability, and increased attachment toward animals. Rising veganism across the globe is creating opportunities for plant-based food products and ingredients. Agar-agar is the vegan substitute for gelatin and is used in a wide range of food and beverages such as bakery products, candies, jellies, frozen desserts, ice-creams, jams, marmalades, icings, fillings, coatings, beers, wines, fruit juices, etc. It is widely employed in vegan-friendly food products. Thus, the rapid growth of veganism is projected to offer lucrative growth opportunities for the agar-agar market over the coming years.
Browse Latest and Related Reports:
Seaweed Extract Market Forecast to 2028 - Covid-19 Impact and Global Analysis - by Source (Red Seaweed, Brown Seaweed, Green Seaweed); Form (Liquid, Powder, Flakes); Application (Agriculture and Horticulture, Pharmaceuticals, Personal Care, Others) and Geography
Neopentyl Glycol Market Forecast to 2028 - COVID-19 Impact and Global Analysis by Type (Flakes, Molten, Slurry); Application (Automotive parts and insulation, Construction insulation, Furniture and Footwear, Plasticizers, Others) and Geography
Edible Flakes Market Forecast to 2028 - Covid-19 Impact and Global Analysis - by Product (Corn flakes, Wheat flakes, Rice flakes, Others); Distribution Channel (Supermarkets and hypermarkets, Convenience stores, Online retailers, Others) and Geography
Textured Vegetable Protein Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product Type (Flakes, Chunks, Others); Category (Organic, Conventional); Distribution Channel (Supermarkets and Hypermarkets, Convenience Stores, Online Retail, Others) and Geography
Sodium Sesquicarbonate Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Form (Crystals, Flakes, Powder); Application (Water Treatment, Conservation of Copper and Copper Alloy, Food, Others) and Geography
Dehydrated Garlic Flakes Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Bagged, In bulk, Others); Application (Online retail, Supermarket, B2B, Others) and Geography
Vegan Food Market Forecast to 2028 - Covid-19 Impact and Global Analysis - by Product (Dairy Alternatives, Meat Substitutes, Others); Distribution Channel (Offline, Online) and Geography
Plant Protein-based Food and Beverages Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Source (Soy, Wheat, Pea, Canola, Others); Product Type (Meat Substitutes, Milk and Milk Derivatives, Baked Products, Sweet and Savory Snacks, Beverages, Others); Distribution Channel (Supermarkets and Hypermarkets, Convenience Stores, Online Retail, Others) and Geography
Frozen Snacks Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product Type (Vegetables and Fruit Snacks, Meat Poultry and Seafood Snacks, Bakery Products, Meat Substitutes, Frozen Desserts, Others); Distribution Channel (Hypermarkets and Supermarkets, Convenience Stores, Online Stores, Others) and Geography
Meat Substitutes Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Source (Soy, Wheat, Mycoprotein, Others); Product Type (Tofu and Tofu Products, Tempeh, Seitan, Quorn, Others); Distribution Channel (Supermarkets and Hypermarkets, Convenience Stores, Online Retail, Others) and Geography
About Us:
The Insight Partners is a one-stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
Contact Us:
If you have any queries about this report or if you would like further information, please contact us:
Contact Person: Sameer Joshi
E-mail: sales@theinsightpartners.com
Phone: +1-646-491-9876
Press Release: https://www.theinsightpartners.com/pr/agar-agar-market
