The global demand for Agar Agar Gum Market is presumed to reach the valuation of nearly USD XX MN by 2026 from USD XX MN in 2019 with a CAGR of XX% under the study period of 2020 - 2026. Whereas with regards to volume, the market was calculated XX Tons in 2021 and foreseen to touch XX Tons by 2027 with a CAGR of XX% during 2021-2027.
Agar-agar gum is a thickening or gelling agent derived from seaweed and is extracted, processed to produce powders, squares, or strips. This gum can be called vegan gelatin and is free of any animal products or gluten, wheat, corn, yeast, and soy. This fat-free ingredient can be used in various cooking, baking applications and has high fiber, iron, and calcium contents. This additive can provide stability and thickness to the food along with shape and consistency. It is used as a laxative in traditional Japanese medicine to treat constipation and diabetes. Its powdered form is used as a reagent in microbiology to carry out plant cell culture studies. The agar use has extended to the pharmaceutical industry as a carrier for topical medications and in prosthetic dentistry.
The growing demand for baked goods and confectioners will be the vital driving force behind the agar gum market’s growth. New technological advances and the extensive use of gum in emerging fields of micro and molecular biology will further propel market growth. The demand for this vegan alternative derived from seaweed will witness a surge since it provides long-lasting stability to finished products facilitating easy transportation and low-cost storage. The inclination towards vegan products and creative cooking methods in health-conscious households will be a market booster. The various factors hindering this market's growth are limited yield from the base raw material and associated health hazards due to the continuous consumption of agar gum.
The report covers Porter’s Five Forces Model, Market Attractiveness Analysis and Value Chain analysis. These tools help to get a clear picture of the industry’s structure and evaluate the competition attractiveness at a global level.
Additionally, these tools also give inclusive assessment of each application/product segment in the global market of agar agar gum.
The entire agar agar gum market has been sub-categorized into product and application. The report provides an analysis of these subsets with respect to the geographical segmentation. This research study will keep marketer informed and helps to identify the target demographics for a product or service.
- Bakery & Pastry
- Microbiological & Molecular
- Other Applications
This section covers regional segmentation which accentuates on current and future demand for agar agar gum market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand for individual application segment across all the prominent regions.
Global Agar Agar Gum Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the agar agar gum market include Meron Group, Myeong Shin Agar, Marine Science Co., Ltd., Agarmex, Orient Resources Company, B&V, TIC Gums, Titan Biotech Ltd., Central Drug House(P) Ltd., Agar Shallow, Agar Corporation Ltd., AsionsvChem, Indoalgas, Able Sales Company. This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
This market research report has been produced by gathering information on the basis of primary and secondary research. Secondary research has been done by using various sources which include (but not limited to) Company Websites, Paid Data Sources, Technical Journals, Financial Reports, SEC Filings, and other different industry publications.
If specific information is required which is not currently within the scope of the report, it can be provided as a part of customization.