Agar-agar Gum Market by Application and Geography - Forecast and Analysis 2021-2025

  • Published: Mar 2021
  • Pages: 120
  • SKU: IRTNTR70438
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The agar-agar gum market has the potential to grow by USD 33.24 million during 2021-2025, and the market’s growth momentum will accelerate at a CAGR of 2.51%.

This agar-agar gum market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation 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 report also offers information on several market vendors, including Agramex SA de CV, ASAHI & Co. Ltd., and AvansChem Speciality Chemicals, among others.

What will the Agar-agar Gum Market Size be in 2021?

Agar-agar-Gum-Market-Market-Size-2020-2025

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Agar-agar Gum Market: Key Drivers and Trends

The increasing demand for dairy products is notably driving the agar-agar gum market growth, although factors such as price fluctuations may impede market growth. To unlock information on the key market drivers and the COVID-19 pandemic impact on the agar-agar gum industry get your FREE report sample now.

  • The increasing demand for dairy products is one of the major factors that will have a positive impact on the agar-agar gum market growth.
  • Agar-agar gum is commonly used as an ingredient in dairy products such as yogurt, cheese, creams, custard, spreads, curd, mousses, puddings, infant formula, and smoothies. 
  • This gum has non-nutritive characteristics that make it advantageous due to the increased demand for no-sugar, no-fat, and no-carbohydrate products.
  • Several milk-based local desserts in APAC also use agar-agar gum to jellify and it also can be used as a substitute for gelatin.
  • The development of new products and applications is one of the key agar-agar gum market trends.
  • Agar-agar gum manufacturers are investing heavily in R&D activities for the development of new products.
  • They are finding new ways to distinguish their brands by producing new products to increase their revenues.
  • India-based meron introduced a new range of agar-agar gums called 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.

This agar-agar gum market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. Get detailed insights on the trends and challenges, which will help companies evaluate and develop growth strategies.

Who are the Major Agar-agar Gum Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • Agramex SA de CV
  • ASAHI & Co. Ltd.
  • AvansChem Speciality Chemicals
  • B&V Srl
  • INDUSTRIAS ROKO SA
  • Ingredion Inc.
  • Marine Science Co. Ltd.
  • Meron Group
  • New Zealand Manuka Group
  • Titan Biotech Ltd.

 

The agar-agar gum market is fragmented and the vendors are deploying growth strategies such as product differentiation to compete in the market. Click here to uncover other successful business strategies deployed by the vendors. 

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Download a free sample of the agar-agar gum market forecast report for insights on complete key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Agar-agar Gum Market?

Agar-agar-Gum-Market-Market-Share-by-Region-2020-2025

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38% of the market’s growth will originate from North America during the forecast period. The US is one of the key markets for agar-agar gum in North America. Market growth in this region will be slower than the growth of the market in APAC.

The rising preference for halal-certified foods, restrictions on animal-derived gelatin, and the increased use of agar-agar gum by European bakeries and confectionery item producers will facilitate the agar-agar gum market growth in North America over the forecast period. To garner further competitive intelligence and regional opportunities in store for vendors, view our sample report.

What are the Revenue-generating Application Segments in the Agar-agar Gum Market?

Agar-agar-Gum-Market-Market-Share-by-Application-2020-2025

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Factors such as the increasing use of agar-agar gum as a stabilizer in cream shells, confectionery gels, fillings, and icing to impart an anti-tackiness property will contribute to the growth of the confectionery products segment in the agar powder market in the coming years. Therefore, the growth of the market segment is expected to be significant during the forecast period.

Fetch actionable market insights on post COVID-19 impact on each segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the agar-agar gum market size.

 

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What are the Key Factors Covered in this Agar-agar Gum Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive agar-agar gum market growth during the next five years
  • Precise estimation of the agar-agar gum market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the agar-agar gum industry across Europe, North America, APAC, MEA, and South America
  • A thorough 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

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Agar-agar Gum Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 3%

Market growth 2021-2025

$ 33.24 million

Market structure

Fragmented

YoY growth (%)

1.67

Regional analysis

Europe, North America, APAC, MEA, and South America

Performing market contribution

North America at 38%

Key consumer countries

US, Spain, Japan, Germany, and China

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Agramex SA de CV, ASAHI & Co. Ltd., AvansChem Speciality Chemicals, B&V Srl, INDUSTRIAS ROKO SA, Ingredion Inc., Marine Science Co. Ltd., Meron Group, New Zealand Manuka Group, and Titan Biotech Ltd.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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The agar-agar gum market growth will increase by $33.24 million during 2020-2025.
The agar-agar gum market is expected to grow at a CAGR of 2.51% during 2020-2025.
Technavio has segmented the agar-agar gum market by application (Confectionery products, Bakery products, Meat products, Microbiological and molecular application, and Others) and geographic (Europe, North America, APAC, MEA, and South America).
Agramex SA de CV, ASAHI & Co. Ltd., AvansChem Speciality Chemicals, B&V Srl, INDUSTRIAS ROKO SA, Ingredion Inc., Marine Science Co. Ltd., Meron Group, New Zealand Manuka Group, Titan Biotech Ltd. are a few of the key vendors in the agar-agar gum market.
North America will register the highest growth rate of 37.82% among the other regions. Therefore, the agar-agar gum market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
  • US
  • Spain
  • Japan
  • Germany
  • China
The key factors driving the agar-agar gum market growth are:
  • Growing demand from baking and confectionery industry
The agar-agar gum market vendors should focus on grabbing business opportunities from the confectionery products segment as it accounted for the largest market share in the base year.
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