Agar-agar Gum Market Size to Grow by $ 33.24 mn During 2021-2025

Technavio has been monitoring the agar-agar gum market and it is expected to grow by $ 33.24 mn, accelerating at a CAGR of almost 3% during the forecast period. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking

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Agar-agar Gum Market: North America to lead market growth during the forecast period

• 38% of the market growth will originate from North America during the forecast period.
• Development of new products and applications will be a key trend that will influence market growth significantly.
• The Increasing demand for dairy products will be a significant factor in driving the growth of the agar-agar gum market.

Agar-agar Gum Market: Key Competitors

The market is fragmented. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. 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. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.

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Agar-agar Gum Market: Key Highlights of the Report for 2021-2025

• 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 market 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

Technavio has been monitoring the Global agar-agar gum market and it is expected to grow by $ 33.24 million, progressing at a CAGR of almost 3% during the forecast period. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking. 

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Agar-agar Gum Market: High demand from the food and beverages segment to drive market growth during the forecast period

• North America is expected to account for 38% of the market growth. The US is one of the key markets for agar-agar gum in North America. However. 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.
• 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 coming years. 
• 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. 
• Agar-agar gum manufacturers are investing heavily in R&D activities for the development of new products.

Agar-agar Gum Market: Key Competitors

The market is fragmented. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. 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. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.

For more insights on this market: Download a Free Sample Report 

Agar-agar Gum Market: Key Highlights of the Report for 2021-2025

• 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 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