Introduction
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.
Market
Value and Volume Forecast
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. 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.
Segmentation,
by Form
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.
Segmentation,
by Application
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. Food & beverages segment is further sub
segmented as bakery, confectionery, dairy, canned meat/poultry
products, beverages, sauces, creams & dressings, dietetic
products and others. In addition bacteriological is further
sub-segmented as culture media and microbiology. Technical
application is sub-segmented as cosmetology and medical applications.
The technical application segment is expected to expand at the
highest CAGR in terms of value during the forecast period.
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Segmentation,
by Region
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.
Key
Players
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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