PUBLISHER: Value Market Research | PRODUCT CODE: 1578291
PUBLISHER: Value Market Research | PRODUCT CODE: 1578291
The global demand for Agar Agar Gum Market is presumed to reach the market size of nearly USD 625 Million by 2032 from USD 384.37 Million in 2023 with a CAGR of 5.55% under the study period 2024-2032.
Agar-agar gum is a thickening or gelling agent derived from seaweed and is extracted, processed to produce powders, squares, or strips. This gum can be called vegan gelatin and is free of any animal products or gluten, wheat, corn, yeast, and soy. This fat-free ingredient can be used in various cooking, baking applications and has high fiber, iron, and calcium contents. This additive can provide stability and thickness to the food along with shape and consistency. It is used as a laxative in traditional Japanese medicine to treat constipation and diabetes. Its powdered form is used as a reagent in microbiology to carry out plant cell culture studies. The agar use has extended to the pharmaceutical industry as a carrier for topical medications and in prosthetic dentistry.
The growing demand for baked goods and confectioners will be the vital driving force behind the agar gum market's growth. New technological advances and the extensive use of gum in emerging fields of micro and molecular biology will further propel market growth. The demand for this vegan alternative derived from seaweed will witness a surge since it provides long-lasting stability to finished products facilitating easy transportation and low-cost storage. The inclination towards vegan products and creative cooking methods in health-conscious households will be a market booster. The various factors hindering this market's growth are limited yield from the base raw material and associated health hazards due to the continuous consumption of agar gum.
The research report covers Porter's Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry's structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of Agar Agar Gum. The growth and trends of Agar Agar Gum industry provide a holistic approach to this study.
Market Segmentation
This section of the Agar Agar Gum market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
This section covers the regional outlook, which accentuates current and future demand for the Global Agar Agar Gum Market Report market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the Agar Agar Gum market include Meron Group, Myeong Shin Agar, Marine Science Co. Ltd, Agarmex, Orient Resources Company, B&V, Tic Gums, Titan Biotech Ltd, AgarGel, Central Drug House (P) Ltd., Agar Shallow, Agar Corporation Ltd., AsionsChem, Indoalgas, Able Sales Company. This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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