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Agar Industry: Key Companies Profile, Market Size Estimation, Consumption, Supply and Demand Analysis

The global agar market is estimated to reach USD 247.18 million in 2017 and anticipated to register a CAGR of 5.1%, during 2017-2022 (the forecast period). The exponential growth, in terms of usage, is attributed to the various functional and health benefits, the product provides. It contains about 80% fiber and can be used as an appetite suppressant. Moreover, agar is an important culinary ingredient, as it acts as a substitute for gelatin and can be used as a thickener in soups, fruits preserves, ice cream and other desserts.

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The Age of Veganism and Health Consciousness is Expected to Promote the Use of Agar

Both, agar and gelatin act as a thickening agent. They are some essential ingredients for the preparation of desserts, worldwide. The only difference is that agar is a vegetarian substitute for gelatin. Moreover, it is not only vegetarian but has higher health benefits, than gelatin. Heath benefits of agar owe to the low saturated fat and cholesterol and high calcium, folate, iron and vitamins content. Therefore, it is ideal for health-conscious consumers, interested in weight loss. Veganism is getting popular globally. China is among the top three countries with the largest vegan population. Further, to grab this set of consumers, manufacturers are preferring the use of agar, while manufacturing products such as fruit-flavored jams and jellies, chewy candies, etc.

Regional Analysis

Asia-pacific is expected to witness the highest growth rate during the forecast period, due to the growing preference for vegan products. The North American region occupies the largest share of agar market, followed by Europe. Agar has a wide-range of applications in industries, such as ice cream, bakery & confectionaries, dairy products, sports and health foods, beverage. The powdered agar is the most preferred form, among all, owing to its high ease of usage coefficient.

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Competitive Landscape

  • The Leading Manufacturers and Suppliers Of The Agar include:
  • New Zealand Manuka Group
  • Hispanagar, Acroyali Holdings Qingdao Co., Ltd.
  • Industrias Roko, S.A.
  • Neogen, Merck Group
  • Agarindo Bogatama
  • Setexam
  • Norevo GmbH
  • Myeong Shin Agar
  • Marine Science Co., Ltd.
  • Agarmex

Our Global Agar Market Report Covers:

  • Market trends & dynamics
  • Latest News & developments
  • Porter’s five force analysis
  • Investment scope
  • Deep-dive insights

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