Global Agar Market: Snapshot
Agar is seaweed widely used in numerous industries such as food and beverages, pharmaceutical, and other industries.
In food and beverages industry, agar finds application in the manufacturing of various products including ice cream, bakery products, dairy products, confectionaries, health and sports foods, and beverages. Thus, increased demand from the manufacturers of these products is projected to assist in the expansion of the global agar market during the forecast period of 2023 to 2030.
An upcoming research report from TMR on the agar market intends to provide all essential data such as volume, shares, and revenues of this market. Apart from this, the report gives comprehensive analysis of important factors including opportunities, drivers, restraints, and challenges in the market. As a result, this report works as an asset for all entities working in the agar market in the forecast period of 2023 to 2030.
The report performs segmentation of the global agar market based on a wide range of key factors including form, application, and region. Based on form, the market for agar is classified into powder, strips, and others.
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Global Agar Market: Growth Dynamics
The global agar market is all set to register upward graph of revenues in the forthcoming years. Key reason attributed to this success is growing awareness about diverse functions and health benefits of using agar. Owing to presence of almost 80% of fiber in it, agar is widely accepted to suppress hunger. As a result, agar is widely used by people on their weight-loss journey. This factor is stimulating the demand avenues in the global agar market.
Agar is considered one of the key cooking ingredients in all worldwide locations. It is extensively used instead of gelatin in various food recipes. There is remarkable growth in use of agar as a thickener in fruit preserves, soup, ice cream, and various other products. This factor is assisting in the generation of high revenues for vendors working in the global agar market.
In recent period, the global agar market is experiencing numerous technological advancements. Metal scrapper is one of such instance of advanced technology in this market. The latest tool allows for easy harvesting of agar, thereby boosting the overall agar production. This factor shows that the global agar market will grow at rapid speed in the forthcoming years.
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Global Agar Market: Notable Development and Competitive Analysis
Major players in the global agar market are experiencing high competition levels. Presence of many active enterprises is one of the key reasons for this situation. To sustain in this competition, several vendors in the global agar market are focused on the launch of innovative products. This move is helping them to strengthen their product portfolio. This aside, several players are growing efforts to strengthen their production capacities. All these activities are suggestive of swift expansion of the market for agar during the period of assessment.
The list of key players in the global agar market includes:
- Neogen Food Safety
- INDUSTRIAS ROKO S.A.
- AGARMEX, S.A.
- SETEXAM, PT.
- Agarindo Bogatama
- MARINE SCIENCE CO., LTD.
- MSC Co., Ltd.
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Global Agar Market: Regional Assessment
On regional front, the global agar market shows prominent presence in many regions including North America, Europe, South America, Asia Pacific, and the Middle East and Africa. Among all regions, Asia Pacific is one of the important regions of the market for agar. Key reasons attributed to this growth are increased number of people following vegan diet in this region.