Technavio predicts a remarkable surge in the Agar Market, with an impressive CAGR of 3.56% anticipated from 2022 to 2027. The increasing prominence of private-label brands to emerge as a key trend

NEW YORK, June 9, 2023 /PRNewswire/ --

Market Share along with Major Challenges and Upcoming Trends

A key driver for the agar market is the Rising demand for dairy products. Agar gives food manufacturers an added benefit because the gels exhibit high thermal stability and are not hampered during the manufacturing process. At a low concentration level of 0.04%, it can jellify, thicken, and stabilize food products without any assistance from technology. The agar market is set to progress at an impressive CAGR of 3.56% during 2022 and 2027.

In addition to knowing about the market's growth potential, it's important to address the challenges faced in the Agar market that may impact its growth and hinder profitability in the long run. However, healthy growth is envisaged to continue as the market size is expected to grow by USD 41.46 million.

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Here are some of the challenges faced in the Agar market:

• Price fluctuations: Prices rise as a result of limited supplies of red algae and low yields from raw materials like seaweed, as well as high price fluctuations. Furthermore, government restrictions also limit their supply. For instance, in order to control the supply of dehydrated culture media (DCM) to customers, the US restricted the supply of two agar types, technical LP0013 and bacteriological LP0011. Due to Moroccan harvesting restrictions on Gelidium seaweed, there is currently a global shortage of seaweed for microbiological laboratories, which is likely to hinder the industry.
• Threat of substitution from other food ingredients 
• Stringent regulations on applications of agar

Here are the highlights on the Trends to overcome challenges.

Many milk-based local desserts in APAC use agar to jellify, and with the rise in the demand for vegan products, agar can be used as a substitute for gelatin. Therefore, the segment is expected to witness an incremental year-over-year growth rate during the forecast period. For the longevity and success in the Agar market, Information about trend is essential.

• Increasing prominence of private-label brands: Globally, private-label agars are increasingly being prioritized by retailers. To boost their profits, different retailers are selling various kinds of agars under their private-label brands, whether in powder or strip form. This is causing the global agar market to expand. For instance, under private-label brands, Essential Wholesale and Labs sells agars in large quantities to customers with various gum strengths. Many private-label agar manufacturers advertise and sell their products in some regions, like North America and APAC, by claiming that their products have the same formulations as branded products. This drives down the retail prices of branded-label products and shrinks the market share of well-known brands.
• Rising demand for vegetarian and vegan foods: 
• New product development and applications:

The report also provides the major insights on consumer base product category and new product launches that help vendors establish long-term relationships with end-users and consumers.

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Every Information on Vendor Analysis of Agar Market 2023-2027:

The full report consists detailed analysis of around Top 15 vendors operating in the Agar Market, including :

• AgarGel
• Agramex SA de CV
• Ases Chemical Works
• B and V srl
• Central Drug House Pvt. Ltd.
• Hispanagar S A
• INDUSTRIAS ROKO SA
• Ingredion Inc.
• Merck KGaA
• MSC Co. Ltd.
• Myeong Shin Agar-Agar Co. Ltd.
• Neogen Corp.
• New Zealand Manuka Group
• Orient Resources Co.
• PT. Agar Swallow 
• PT. Agarindo Bogatama
• PT Surya Indoalgas

Vendor Offerings of Agar Market- 

• Titan Biotech Ltd.- The company offers agar in the form of powder named Chromogenic Coliform Agar and in the form of liquid named Sabouraud dextrose agar.
• SETEXAM SA- The company offers agar jelly properties for food such as pudding, pies, tarts, cookies, pastries, cheesecakes, jelly candy, soups, and sauces.
• Meron Group- The company offers agar for jelly candies, gummies, vegan marshmallows, chewy gummy bears, jujubes, yogurt, jam, icecreams and fruit drinks.

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Related Report:

Agarwood Essential Oil : The Agarwood Essential Oil Market is projected to increase by USD 1,075.28 million from 2022 to 2027. The market is estimated to grow at a CAGR of 6.86% between 2022 and 2027.
Bamboos Market : The bamboos market is estimated to grow at a CAGR of 5.45% between 2022 and 2027. The market size is forecasted to increase by USD 20.38 billion.

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1 Executive Summary

• 1.1 Market overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Product Type
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Application
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022 

• 3.4 Market outlook: Forecast for 2022-2027
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global agar market 2017 - 2021 
• Exhibit 18: Historic Market Size – Data Table on Global agar market 2017 - 2021 ($ million)

• 4.2 Product type Segment Analysis 2017 - 2021
• Exhibit 19: Historic Market Size – Product type Segment 2017 - 2021 ($ million)

• 4.3 Application Segment Analysis 2017 - 2021
• Exhibit 20: Historic Market Size – Application Segment 2017 - 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 - 2021
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)

• 4.5 Country Segment Analysis 2017 - 2021
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary 
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry 
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition 
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Product Type

• 6.1 Market segments 
• Exhibit 30: Chart on Product Type - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Product Type - Market share 2022-2027 (%)

• 6.2 Comparison by Product Type 
• Exhibit 32: Chart on Comparison by Product Type
• Exhibit 33: Data Table on Comparison by Product Type

• 6.3 Powders - Market size and forecast 2022-2027
• Exhibit 34: Chart on Powders - Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on Powders - Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on Powders - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Powders - Year-over-year growth 2022-2027 (%)

• 6.4 Flakes - Market size and forecast 2022-2027
• Exhibit 38: Chart on Flakes - Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on Flakes - Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on Flakes - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Flakes - Year-over-year growth 2022-2027 (%)

• 6.5 Sheets - Market size and forecast 2022-2027
• Exhibit 42: Chart on Sheets - Market size and forecast 2022-2027 ($ million)
• Exhibit 43: Data Table on Sheets - Market size and forecast 2022-2027 ($ million)
• Exhibit 44: Chart on Sheets - Year-over-year growth 2022-2027 (%)
• Exhibit 45: Data Table on Sheets - Year-over-year growth 2022-2027 (%)

• 6.6 Market opportunity by Product Type 
• Exhibit 46: Market opportunity by Product Type ($ million)

7 Market Segmentation by Application

• 7.1 Market segments 
• Exhibit 47: Chart on Application - Market share 2022-2027 (%)
• Exhibit 48: Data Table on Application - Market share 2022-2027 (%)

• 7.2 Comparison by Application 
• Exhibit 49: Chart on Comparison by Application
• Exhibit 50: Data Table on Comparison by Application

• 7.3 Food and beverages - Market size and forecast 2022-2027 
• Exhibit 51: Chart on Food and beverages - Market size and forecast 2022-2027 ($ million)
• Exhibit 52: Data Table on Food and beverages - Market size and forecast 2022-2027 ($ million)
• Exhibit 53: Chart on Food and beverages - Year-over-year growth 2022-2027 (%)
• Exhibit 54: Data Table on Food and beverages - Year-over-year growth 2022-2027 (%)

• 7.4 Pharmaceuticals - Market size and forecast 2022-2027
• Exhibit 55: Chart on Pharmaceuticals - Market size and forecast 2022-2027 ($ million)
• Exhibit 56: Data Table on Pharmaceuticals - Market size and forecast 2022-2027 ($ million)
• Exhibit 57: Chart on Pharmaceuticals - Year-over-year growth 2022-2027 (%)
• Exhibit 58: Data Table on Pharmaceuticals - Year-over-year growth 2022-2027 (%)

• 7.5 Others - Market size and forecast 2022-2027
• Exhibit 59: Chart on Others - Market size and forecast 2022-2027 ($ million)
• Exhibit 60: Data Table on Others - Market size and forecast 2022-2027 ($ million)
• Exhibit 61: Chart on Others - Year-over-year growth 2022-2027 (%)
• Exhibit 62: Data Table on Others - Year-over-year growth 2022-2027 (%)

• 7.6 Market opportunity by Application 
• Exhibit 63: Market opportunity by Application ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 64: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 65: Chart on Market share by geography 2022-2027 (%)
• Exhibit 66: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 67: Chart on Geographic comparison
• Exhibit 68: Data Table on Geographic comparison

• 9.3 Europe - Market size and forecast 2022-2027
• Exhibit 69: Chart on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 70: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 71: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 72: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.4 North America - Market size and forecast 2022-2027
• Exhibit 73: Chart on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 74: Data Table on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 75: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 76: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.5 APAC - Market size and forecast 2022-2027
• Exhibit 77: Chart on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 78: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 79: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 80: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.6 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 81: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 82: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 83: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 84: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.7 South America - Market size and forecast 2022-2027
• Exhibit 85: Chart on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 86: Data Table on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 87: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 88: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.8 US - Market size and forecast 2022-2027
• Exhibit 89: Chart on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 90: Data Table on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 91: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 92: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.9 China - Market size and forecast 2022-2027
• Exhibit 93: Chart on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 94: Data Table on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 95: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 96: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.10 Germany - Market size and forecast 2022-2027
• Exhibit 97: Chart on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 98: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 99: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 100: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.11 UK - Market size and forecast 2022-2027
• Exhibit 101: Chart on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 102: Data Table on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 103: Chart on UK - Year-over-year growth 2022-2027 (%)
• Exhibit 104: Data Table on UK - Year-over-year growth 2022-2027 (%)

• 9.12 France - Market size and forecast 2022-2027
• Exhibit 105: Chart on France - Market size and forecast 2022-2027 ($ million)
• Exhibit 106: Data Table on France - Market size and forecast 2022-2027 ($ million)
• Exhibit 107: Chart on France - Year-over-year growth 2022-2027 (%)
• Exhibit 108: Data Table on France - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 109: Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers 

• 10.2 Market challenges 

• 10.3 Impact of drivers and challenges 
• Exhibit 110: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends 

11 Vendor Landscape

• 11.1 Overview 

• 11.2 Vendor landscape 
• Exhibit 111: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption 
• Exhibit 112: Overview on factors of disruption

• 11.4 Industry risks 
• Exhibit 113: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered 
• Exhibit 114: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 115: Matrix on vendor position and classification

• 12.3 AgarGel 
• Exhibit 116: AgarGel - Overview
• Exhibit 117: AgarGel - Product / Service
• Exhibit 118: AgarGel - Key offerings

• 12.4 Agramex SA de CV 
• Exhibit 119: Agramex SA de CV - Overview
• Exhibit 120: Agramex SA de CV - Product / Service
• Exhibit 121: Agramex SA de CV - Key offerings

• 12.5 B and V srl 
• Exhibit 122: B and V srl - Overview
• Exhibit 123: B and V srl - Product / Service
• Exhibit 124: B and V srl - Key offerings

• 12.6 Central Drug House Pvt. Ltd. 
• Exhibit 125: Central Drug House Pvt. Ltd. - Overview
• Exhibit 126: Central Drug House Pvt. Ltd. - Product / Service
• Exhibit 127: Central Drug House Pvt. Ltd. - Key offerings

• 12.7 Hispanagar S A 
• Exhibit 128: Hispanagar S A - Overview
• Exhibit 129: Hispanagar S A - Product / Service
• Exhibit 130: Hispanagar S A - Key offerings

• 12.8 INDUSTRIAS ROKO SA 
• Exhibit 131: INDUSTRIAS ROKO SA - Overview
• Exhibit 132: INDUSTRIAS ROKO SA - Product / Service
• Exhibit 133: INDUSTRIAS ROKO SA - Key offerings

• 12.9 Ingredion Inc. 
• Exhibit 134: Ingredion Inc. - Overview
• Exhibit 135: Ingredion Inc. - Business segments
• Exhibit 136: Ingredion Inc. - Key news
• Exhibit 137: Ingredion Inc. - Key offerings
• Exhibit 138: Ingredion Inc. - Segment focus

• 12.10 Meron Group 
• Exhibit 139: Meron Group - Overview
• Exhibit 140: Meron Group - Product / Service
• Exhibit 141: Meron Group - Key offerings

• 12.11 MSC Co. Ltd. 
• Exhibit 142: MSC Co. Ltd. - Overview
• Exhibit 143: MSC Co. Ltd. - Product / Service
• Exhibit 144: MSC Co. Ltd. - Key offerings

• 12.12 Myeong Shin Agar-Agar Co. Ltd. 
• Exhibit 145: Myeong Shin Agar-Agar Co. Ltd. - Overview
• Exhibit 146: Myeong Shin Agar-Agar Co. Ltd. - Product / Service
• Exhibit 147: Myeong Shin Agar-Agar Co. Ltd. - Key offerings

• 12.13 Neogen Corp. 
• Exhibit 148: Neogen Corp. - Overview
• Exhibit 149: Neogen Corp. - Business segments
• Exhibit 150: Neogen Corp. - Key news
• Exhibit 151: Neogen Corp. - Key offerings
• Exhibit 152: Neogen Corp. - Segment focus

• 12.14 Orient Resources Co. 
• Exhibit 153: Orient Resources Co. - Overview
• Exhibit 154: Orient Resources Co. - Product / Service
• Exhibit 155: Orient Resources Co. - Key offerings

• 12.15 PT. Agarindo Bogatama 
• Exhibit 156: PT. Agarindo Bogatama - Overview
• Exhibit 157: PT. Agarindo Bogatama - Product / Service
• Exhibit 158: PT. Agarindo Bogatama - Key offerings

• 12.16 SETEXAM SA 
• Exhibit 159: SETEXAM SA - Overview
• Exhibit 160: SETEXAM SA - Product / Service
• Exhibit 161: SETEXAM SA - Key offerings

• 12.17 Titan Biotech Ltd. 
• Exhibit 162: Titan Biotech Ltd. - Overview
• Exhibit 163: Titan Biotech Ltd. - Product / Service
• Exhibit 164: Titan Biotech Ltd. - Key offerings

13 Appendix

• 13.1 Scope of the report 

• 13.2 Inclusions and exclusions checklist
• Exhibit 165: Inclusions checklist
• Exhibit 166: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 167: Currency conversion rates for US$

• 13.4 Research methodology 
• Exhibit 168: Research methodology
• Exhibit 169: Validation techniques employed for market sizing
• Exhibit 170: Information sources

• 13.5 List of abbreviations 
• Exhibit 171: List of abbreviations

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