Agar Market: Shifting Consumer Preference Towards Natural Ingredient & Gelatin-Free Products is Topping the Market Growth

Agar is derived from the polysaccharide agarose, which forms the supporting structure in the cell walls of agarophytes belonging to the Rhodophyta (Red algae) phylum; gracilaria, gelidium and gelidiella which are a genus of red algae, are cultivated commercially for the production of agar. Commercial cultivation of Gracilaria was initially carried out using gracilaria chilensis, which is a red seaweed originating from the southern coast of Chile.

Gelidium seaweed is primarily harvested on the western coast of Morocco, southern coast of Portugal and the northern coast of Spain. While, gracilaria species are widely present in cold waters such as southern coast of Chile and the Atlantic coast of Canada. However, some species have adapted to the tropical waters of Indonesia and Thailand.

The global agar market revenue is anticipated to expand at a CAGR of over 4.9% in terms of value and 2.6%, in terms of volume during the forecast period.

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Preference of halal/kosher food products, increasing usage of agar as natural ingredient by food, pharmaceuticals and cosmetics industries are factors fuelling market growth across the globe. The global agar market is currently witnessing major trends like the usage of agar in bakery industry due to high temperature resistance capacity and it as a superior gelling agent in dairy products.

In the report, the agar market is segmented on the basis of form which includes strips and powders. In 2015, among all these segments, powder segment accounted for the largest value share in the global agar market.

The global agar market is segmented on the basis of application which includes: food & beverages, bacteriological applications, technical applications and others (agriculture). In 2015, of these segments, food & beverages segment dominated the market in terms of value and volume, and is expected to remain dominant over the forecast period.

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On the basis of region, the global agar market is segmented into North America, Latin America, Western Europe, Eastern Europe, Asia Pacific Excluding Japan, the Middle East & Africa and Japan. Among all these region Western Europe has been estimated to dominate the overall market in terms of value in 2015. Market in the region is expected to expand at a CAGR of 5.2 % over the forecast period.

Some of the key players identified in the global agar market are Agarmex, New Zealand Manuka Group, Hispanagar, Acroyali Holdings Qingdao Co.Ltd., Industrias Roko, S.A, Neogen, Merck Group, Agarindo Bogatama, Setexam and Norevo GmbH.

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This release was published on openPR.