Agar-Agar Gum Market to grow Over $ 33 Million| COVID-19 Impact Analysis, Key Drivers, Trends, and Products Offered by Major Vendors | Technavio
120-page report and in-depth TOC of the Agar-Agar Gum Market by application (confectionery products, bakery products, meat products, microbiological and molecular application, and others) and geography (Europe, North America, APAC, MEA, and South America).
The global agar-agar gum market is expected to grow by USD 33.24 million, exhibiting a CAGR of almost 3% during 2021-2025, according to Technavio's latest market report. Based on our research, the packaged foods and meats sector witnessed a positive impact due to the widespread growth of the COVID-19 pandemic. The report also throws light on the pre- and post-impact of COVID-19 on businesses.
The confectionery products segment will generate maximum revenue in the agar-agar gum market, owing to the increasing use of agar-agar gum as a stabilizer in cream shells, confectionery gels, fillings, and icing to impart an anti-tackiness property. In terms of geography, North America will present significant opportunities for market vendors due to the factors such as the rising preference for halal-certified foods, restrictions on animal-derived gelatin, and the increased use of agar-agar gum by bakeries and confectionery item producers.
Agar-Agar Gum Market: Major Growth Drivers The following factors are expected to drive the growth of the market during the forecast period:
Growing demand from baking and confectionery industry
Rising demand for dairy products
Growing prominence for online shopping
In addition, the report identifies the development of new products and applications as a major trend in the agar-agar gum market. Vendors operating in the market are making significant investments in R&D to develop new products. For instance, Meron, an India-based vendor introduced a new range of agar-agar gums called the WONDERGEL. This product is a better variety of agar-agar that can be used in cake glaze, yogurt, soft puddings, decorative piping gel, creamy custards, and cheese spreads. Such product launches are helping vendors to distinguish their brands in the market and maximize revenue flow.
The report helps businesses create strategies to make the most of future growth opportunities.
Agar-Agar Gum Market: Key Vendor Offerings Agramex SA de CV: The company offers agar-agar in the food industry, such as in bakery products, confectionery, and sweets manufacturing, as well as in dairy products, desserts or canned meats.
ASAHI & Co. Ltd.: The company offers gelling agents such as kanten (agar), gelatin, pectin, and the like that helps to transform liquid to gel.
AvansChem Speciality Chemicals: The company offers agar-agar in powder form that is insoluble in cold water and used in food applications.
B&V Srl: The company offers agar which enhances the texture, taste and nutritional profile of processed goods, and helps extend the shelf life of the final product.
INDUSTRIAS ROKO SA: The company offers agar that is analyzed, graded by quality, and carefully stored.
Reasons to Buy Agar-Agar Gum Market Report:
CAGR of the market during the forecast period 2021-2025
Detailed information on factors that will assist agar-agar gum market growth during the next five years
Estimation of the agar-agar gum market size and its contribution to the parent market
Predictions on upcoming trends and changes in consumer behavior
The growth of the agar-agar gum market across Europe, North America, APAC, MEA, and South America
Analysis of the market's competitive landscape and detailed information on vendors
Comprehensive details of factors that will challenge the growth of agar-agar gum market vendors
This report can be personalized according to your business needs.
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