Agar Market Outlook (2023 to 2033)

The global agar market size is slated to register significant growth from 2023 to 2033. According to the research report published by Future Market Insights, the global market is predicted to surpass a valuation of USD 292 million in 2023. It is projected to hit a valuation of USD 478.4 million by 2033. The market is expected to expand at a CAGR of 5% from 2023 to 2033.

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

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

Attributes Details
Agar Market Share (2022) USD 281 million
Agar Market Share (2023) USD 292 million
Agar Market Share (2033) USD 478.4 million
Agar Market Share (2023 to 2033) 5%

Agar Market Historical Analysis (2018 to 2022) Vs. Forecast Outlook (2023 to 2033)

The global agar industry size expanded at a CAGR of 2.1% from 2018 to 2022. In 2018, the global market size stood at USD 258.6 million. In the following years, the market gained considerable growth, accounting for USD 281 million in 2022.

Several food and beverage items, including sweets, candies, dairy goods, and sauces, employ agar as a gelling ingredient. The demand for agar as a plant-based gelatin substitute has been fuelled by consumers' increasing preference for organic and vegetarian foods.

Several areas, including Southeast Asia (particularly Indonesia, Malaysia, and the Philippines), Japan, and South Korea, have increased agar production. The climate in these areas is ideal for growing seaweed species that produce agar. Market expansion has been sparked by the emergence of agar processing facilities and the accessibility of raw materials in these areas.

What are the Key Drivers Promoting Market Growth?

  • Wide range of applications in the food and beverage industry.
  • The growing use of agar in foods and drinks touted as healthier alternatives are influenced by the putative health advantages.
  • Its adaptability encourages innovation in product creation by giving producers a variety of ways to include agar in their formulations and expand their product lines.
  • Agar is now widely used as a viable substitute for gelatin in a variety of culinary items due to the rising demand for vegetarian and vegan dietary choices.

What are the Foreseen Growth Opportunities?

  • Expansion by targeting emerging markets.
  • Expansion of the food industry and changing consumer preferences.
  • Africa, the Middle East, and Latin America are all full of conceivable growth opportunities.
  • Huge potential for the agar industry is created by the expanding popularity of plant-based diets and the rise in people embracing vegetarian and vegan lifestyles.

What Hurdles are Expected to Restrain Market Growth?

The availability and procurement of raw materials, especially seaweed, are necessary for the manufacturing of agar. Agar production may be impacted by changes in seaweed supplies or supply-chain interruptions. Additionally, the price of raw materials might change, which has an impact on the total cost of manufacturing and the cost of agar-based goods. While agar is frequently used as a gelling agent, there are substitutes on the market.

Agar may be replaced in some applications by gelatin, carrageenan, pectin, and other plant- and man-made gelling agents. The availability of these substitutes and their affordable prices may restrict the expansion of the agar industry.

Category-wise Insights

In the report, the agar market is segmented on the basis of form which includes strips and powders. In 2022, among all these segments, the powder segment accounted for a substantial value share in the global agar market. The powder segment captured 55.6% of market shares in 2022. Compared to other forms, including agar strips or flakes, agar powder is more convenient to handle and use.

It is easy to add to food formulations and recipes since it dissolves quickly in liquids. The powder form enables exact control over the required gel strength, accurate measurement, and simple distribution throughout the product. There are many applications for agar powder in foods and beverages. Because of its fine texture and solubility, it may be used to produce sauces, jellies, and sweets with smooth textures. It may be included in liquid formulations, resulting in reliable outcomes and homogenous gel formation.

The global agar market is segmented on the basis of application which includes: food & beverages, bacteriological applications, technical applications, and others (agriculture). In 2022, of these segments, the food & beverages segment dominated the market in terms of value and volume and is expected to remain dominant over the forecast period.

The 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, bacteriology is further sub-segmented as culture media and microbiology.

The food and beverage application held 34.6% shares in the global market. There are several uses for agar in the food and beverage sector. It is used as a clarifying ingredient in drinks as well as in sweets, confectionery, bread goods, dairy goods, sauces, and dressings. Because of its adaptability, producers have several alternatives for incorporating agar into their formulas and expanding their product lines.

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.

Country-wise Insights

Based on 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.

Due to the rising popularity of vegan goods, the Asia Pacific region is predicted to witness a rapid growth rate throughout the projection period. The Asia Pacific region is renowned for its fertile coastal regions, which offer optimal conditions for the development of species of seaweed that produce agar. The expansion of the agar business across the region has been aided by the accessibility of these raw resources.

Agar has a long history of use in many Asia Pacific nations' traditional foods and customs, including those of Japan, China, and South Korea. Due to the solid basis and knowledge this has built up in agar manufacture and use, the market has continued to grow. The pharmaceutical and healthcare industries have experienced substantial expansion in the Asia Pacific area. Agar is used as a stabilizing agent, an encasing substance, and in tissue engineering in the pharmaceutical industry. In 2022, China, India, and Japan captured 5.5%, 6.7%, and 4.2% shares in the global market, respectively.

The agar market in North America has a dominant share, with the Europe market in second place. Agar has several uses. Including the production of ice cream, bread goods, confections, dairy products, sports nutrition products, and drinks. The most popular form of agar is in powder form due to its high ease of use coefficient. In 2022, the United States captured 28.9% shares in the global market.

As a natural and vegetarian substitute for gelatin, agar is becoming more and more popular in the food and beverage business in North America. Agar is increasingly being used as a gelling agent in desserts, dairy products, sauces, and confectionery goods. Due to the growing customer preference for plant-based ingredients and the requirement for clean-label products.

Country CAGR Share in Global Market (2022)
United States 28.9%
United Kingdom 7.2%
China 5.5%
Japan 4.2%
India 7.1%

Competitive Landscape

The agar market is very competitive, and several significant rivals use different tactics to hold onto their market positions and promote development. To fulfill the changing expectations of customers and industries, the key players in the agar market place a strong emphasis on ongoing product development and innovation. They make R&D investments to improve the features, applications, and quality of agar-based goods. By being ahead of the competition in terms of product offers, they are able to stand out from the competition.

Recent Developments Observed by FMI:

  • In February 2023, Thermo Fisher Scientific Inc., a global leader in providing scientific services, announced the release of Brilliance GBS Agar for the detection of Group B streptococci (GBS) during pregnancy. With the use of its own InhibigenTM technology, the new agar is made to simplify the testing process for clinical technicians, provide more accurate findings, and speed up patient treatment.
  • In July 2021, The Tripura Agar Wood Policy 2021, developed by Tripura’s state government in India, called for doubling agarwood plantations by 2025. The state might potentially earn Rs 2,000 crore from the agar trade.

Key Players in the Global Market

  • Neogen Food Safety
  • HISPANAGAR
  • AGARMEX S.A.
  • INDUSTRIES ROKO S.A.
  • PT. Agrarindo Bogatama

Scope of the Report

Attribute Details
Forecast Period 2023 to 2033
Historical Data Available for 2018 to 2022
Market Analysis USD million for Value, MT for Volume
Key Regions Covered North America; Latin America; Western Europe; Eastern Europe; Asia Pacific Excluding Japan (APEJ); The Middle East & Africa; Japan
Key Countries Covered United States, Canada, Germany, United Kingdom, Nordic, Russia, BENELUX, Poland, France, Spain, Italy, Czech Republic, Hungary, Rest of EMEAI, Brazil, Peru, Argentina, Mexico, South Africa, Northern Africa, GCC Countries, China, Japan, South Korea, India, ASEAN, Thailand, Malaysia, Indonesia, Australia, New Zealand, Others
Key Segments Covered Component, Business Function Type, Service Type, Organizational Size, Application, Region
Report Coverage Market Forecast, Company Share Analysis, Competition Intelligence, Trend Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives

Agar Market Segmentation

By Application:

  • Food & Beverages
    • Bakery
    • Confectionery
    • Dairy
    • Canned Meat/Poultry Products
    • Beverages
    • Sauces, Creams, & Dressings
    • Others
  • Bacteriological
    • Culture Media
    • Microbiology
  • Technical Applications
    • Cosmetology
    • Medical Applications
  • Others

By Form:

  • Splits
  • Powders

By Region:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • Asia Pacific Excluding Japan (APEJ)
  • The Middle East & Africa
  • Japan

Table of Content

  • 1. Executive Summary
  • 2. Market Overview
  • 3. Market Background
  • 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033
  • 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application
    • 5.1. Food & Beverages
      • 5.2. Bakery
      • 5.3. Confectionery
      • 5.4. Dairy
      • 5.5. Canned meat/poultry products
      • 5.6. Beverages
      • 5.7. Sauces, creams & dressings
      • 5.8. Dietetic products
      • 5.9. Others
    • 5.10. Bacteriological
      • 5.11. Culture media
      • 5.12. Microbiology
    • 5.13. Technical Applications
      • 5.14. Cosmetology
      • 5.15. Medical applications
    • 5.16. Others
  • 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Form
    • 6.1. Splits
    • 6.2. Powders
  • 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region
    • 7.1. North America
    • 7.2. Latin America
    • 7.3. Europe
    • 7.4. Asia Pacific
    • 7.5. MEA
  • 8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
  • 9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
  • 10. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
  • 11. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
  • 12. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
  • 13. Key Countries Market Analysis
    • 13.1. U.S.
    • 13.2. Canada
    • 13.3. Brazil
    • 13.4. Mexico
    • 13.5. Germany
    • 13.6. U.K.
    • 13.7. France
    • 13.8. Spain
    • 13.9. Italy
    • 13.10. China
    • 13.11. Japan
    • 13.12. South Korea
    • 13.13. Singapore
    • 13.14. Thailand
    • 13.15. Indonesia
    • 13.16. Australia
    • 13.17. New Zealand
    • 13.18. GCC Countries
    • 13.19. South Africa
    • 13.20. Israel
  • 14. Market Structure Analysis
  • 15. Competition Analysis
    • 15.1. Merck KGaA
    • 15.2. Thermo Fisher Scientific Inc.
    • 15.3. HiMedia Laboratories Pvt. Ltd.
    • 15.4. Neogen Corporation
    • 15.5. Bio-Rad Laboratories, Inc.
    • 15.6. Becton, Dickinson and Company
    • 15.7. Crystalgen Inc.
    • 15.8. Titan Biotech Limited
    • 15.9. Micromaster Laboratories
    • 15.10. TCI Chemicals
  • 16. Assumptions & Acronyms Used
  • 17. Research Methodology

List of Tables

Table 1: Global Market Value (US$ Million) Forecast by Region, 2018 to 2033

Table 2: Global Market Volume (MT) Forecast by Region, 2018 to 2033

Table 3: Global Market Value (US$ Million) Forecast by Application, 2018 to 2033

Table 4: Global Market Volume (MT) Forecast by Application, 2018 to 2033

Table 5: Global Market Value (US$ Million) Forecast by Form, 2018 to 2033

Table 6: Global Market Volume (MT) Forecast by Form, 2018 to 2033

Table 7: North America Market Value (US$ Million) Forecast by Country, 2018 to 2033

Table 8: North America Market Volume (MT) Forecast by Country, 2018 to 2033

Table 9: North America Market Value (US$ Million) Forecast by Application, 2018 to 2033

Table 10: North America Market Volume (MT) Forecast by Application, 2018 to 2033

Table 11: North America Market Value (US$ Million) Forecast by Form, 2018 to 2033

Table 12: North America Market Volume (MT) Forecast by Form, 2018 to 2033

Table 13: Latin America Market Value (US$ Million) Forecast by Country, 2018 to 2033

Table 14: Latin America Market Volume (MT) Forecast by Country, 2018 to 2033

Table 15: Latin America Market Value (US$ Million) Forecast by Application, 2018 to 2033

Table 16: Latin America Market Volume (MT) Forecast by Application, 2018 to 2033

Table 17: Latin America Market Value (US$ Million) Forecast by Form, 2018 to 2033

Table 18: Latin America Market Volume (MT) Forecast by Form, 2018 to 2033

Table 19: Europe Market Value (US$ Million) Forecast by Country, 2018 to 2033

Table 20: Europe Market Volume (MT) Forecast by Country, 2018 to 2033

Table 21: Europe Market Value (US$ Million) Forecast by Application, 2018 to 2033

Table 22: Europe Market Volume (MT) Forecast by Application, 2018 to 2033

Table 23: Europe Market Value (US$ Million) Forecast by Form, 2018 to 2033

Table 24: Europe Market Volume (MT) Forecast by Form, 2018 to 2033

Table 25: Asia Pacific Market Value (US$ Million) Forecast by Country, 2018 to 2033

Table 26: Asia Pacific Market Volume (MT) Forecast by Country, 2018 to 2033

Table 27: Asia Pacific Market Value (US$ Million) Forecast by Application, 2018 to 2033

Table 28: Asia Pacific Market Volume (MT) Forecast by Application, 2018 to 2033

Table 29: Asia Pacific Market Value (US$ Million) Forecast by Form, 2018 to 2033

Table 30: Asia Pacific Market Volume (MT) Forecast by Form, 2018 to 2033

Table 31: MEA Market Value (US$ Million) Forecast by Country, 2018 to 2033

Table 32: MEA Market Volume (MT) Forecast by Country, 2018 to 2033

Table 33: MEA Market Value (US$ Million) Forecast by Application, 2018 to 2033

Table 34: MEA Market Volume (MT) Forecast by Application, 2018 to 2033

Table 35: MEA Market Value (US$ Million) Forecast by Form, 2018 to 2033

Table 36: MEA Market Volume (MT) Forecast by Form, 2018 to 2033

List of Figures

Figure 1: Global Market Value (US$ Million) by Application, 2023 to 2033

Figure 2: Global Market Value (US$ Million) by Form, 2023 to 2033

Figure 3: Global Market Value (US$ Million) by Region, 2023 to 2033

Figure 4: Global Market Value (US$ Million) Analysis by Region, 2018 to 2033

Figure 5: Global Market Volume (MT) Analysis by Region, 2018 to 2033

Figure 6: Global Market Value Share (%) and BPS Analysis by Region, 2023 to 2033

Figure 7: Global Market Y-o-Y Growth (%) Projections by Region, 2023 to 2033

Figure 8: Global Market Value (US$ Million) Analysis by Application, 2018 to 2033

Figure 9: Global Market Volume (MT) Analysis by Application, 2018 to 2033

Figure 10: Global Market Value Share (%) and BPS Analysis by Application, 2023 to 2033

Figure 11: Global Market Y-o-Y Growth (%) Projections by Application, 2023 to 2033

Figure 12: Global Market Value (US$ Million) Analysis by Form, 2018 to 2033

Figure 13: Global Market Volume (MT) Analysis by Form, 2018 to 2033

Figure 14: Global Market Value Share (%) and BPS Analysis by Form, 2023 to 2033

Figure 15: Global Market Y-o-Y Growth (%) Projections by Form, 2023 to 2033

Figure 16: Global Market Attractiveness by Application, 2023 to 2033

Figure 17: Global Market Attractiveness by Form, 2023 to 2033

Figure 18: Global Market Attractiveness by Region, 2023 to 2033

Figure 19: North America Market Value (US$ Million) by Application, 2023 to 2033

Figure 20: North America Market Value (US$ Million) by Form, 2023 to 2033

Figure 21: North America Market Value (US$ Million) by Country, 2023 to 2033

Figure 22: North America Market Value (US$ Million) Analysis by Country, 2018 to 2033

Figure 23: North America Market Volume (MT) Analysis by Country, 2018 to 2033

Figure 24: North America Market Value Share (%) and BPS Analysis by Country, 2023 to 2033

Figure 25: North America Market Y-o-Y Growth (%) Projections by Country, 2023 to 2033

Figure 26: North America Market Value (US$ Million) Analysis by Application, 2018 to 2033

Figure 27: North America Market Volume (MT) Analysis by Application, 2018 to 2033

Figure 28: North America Market Value Share (%) and BPS Analysis by Application, 2023 to 2033

Figure 29: North America Market Y-o-Y Growth (%) Projections by Application, 2023 to 2033

Figure 30: North America Market Value (US$ Million) Analysis by Form, 2018 to 2033

Figure 31: North America Market Volume (MT) Analysis by Form, 2018 to 2033

Figure 32: North America Market Value Share (%) and BPS Analysis by Form, 2023 to 2033

Figure 33: North America Market Y-o-Y Growth (%) Projections by Form, 2023 to 2033

Figure 34: North America Market Attractiveness by Application, 2023 to 2033

Figure 35: North America Market Attractiveness by Form, 2023 to 2033

Figure 36: North America Market Attractiveness by Country, 2023 to 2033

Figure 37: Latin America Market Value (US$ Million) by Application, 2023 to 2033

Figure 38: Latin America Market Value (US$ Million) by Form, 2023 to 2033

Figure 39: Latin America Market Value (US$ Million) by Country, 2023 to 2033

Figure 40: Latin America Market Value (US$ Million) Analysis by Country, 2018 to 2033

Figure 41: Latin America Market Volume (MT) Analysis by Country, 2018 to 2033

Figure 42: Latin America Market Value Share (%) and BPS Analysis by Country, 2023 to 2033

Figure 43: Latin America Market Y-o-Y Growth (%) Projections by Country, 2023 to 2033

Figure 44: Latin America Market Value (US$ Million) Analysis by Application, 2018 to 2033

Figure 45: Latin America Market Volume (MT) Analysis by Application, 2018 to 2033

Figure 46: Latin America Market Value Share (%) and BPS Analysis by Application, 2023 to 2033

Figure 47: Latin America Market Y-o-Y Growth (%) Projections by Application, 2023 to 2033

Figure 48: Latin America Market Value (US$ Million) Analysis by Form, 2018 to 2033

Figure 49: Latin America Market Volume (MT) Analysis by Form, 2018 to 2033

Figure 50: Latin America Market Value Share (%) and BPS Analysis by Form, 2023 to 2033

Figure 51: Latin America Market Y-o-Y Growth (%) Projections by Form, 2023 to 2033

Figure 52: Latin America Market Attractiveness by Application, 2023 to 2033

Figure 53: Latin America Market Attractiveness by Form, 2023 to 2033

Figure 54: Latin America Market Attractiveness by Country, 2023 to 2033

Figure 55: Europe Market Value (US$ Million) by Application, 2023 to 2033

Figure 56: Europe Market Value (US$ Million) by Form, 2023 to 2033

Figure 57: Europe Market Value (US$ Million) by Country, 2023 to 2033

Figure 58: Europe Market Value (US$ Million) Analysis by Country, 2018 to 2033

Figure 59: Europe Market Volume (MT) Analysis by Country, 2018 to 2033

Figure 60: Europe Market Value Share (%) and BPS Analysis by Country, 2023 to 2033

Figure 61: Europe Market Y-o-Y Growth (%) Projections by Country, 2023 to 2033

Figure 62: Europe Market Value (US$ Million) Analysis by Application, 2018 to 2033

Figure 63: Europe Market Volume (MT) Analysis by Application, 2018 to 2033

Figure 64: Europe Market Value Share (%) and BPS Analysis by Application, 2023 to 2033

Figure 65: Europe Market Y-o-Y Growth (%) Projections by Application, 2023 to 2033

Figure 66: Europe Market Value (US$ Million) Analysis by Form, 2018 to 2033

Figure 67: Europe Market Volume (MT) Analysis by Form, 2018 to 2033

Figure 68: Europe Market Value Share (%) and BPS Analysis by Form, 2023 to 2033

Figure 69: Europe Market Y-o-Y Growth (%) Projections by Form, 2023 to 2033

Figure 70: Europe Market Attractiveness by Application, 2023 to 2033

Figure 71: Europe Market Attractiveness by Form, 2023 to 2033

Figure 72: Europe Market Attractiveness by Country, 2023 to 2033

Figure 73: Asia Pacific Market Value (US$ Million) by Application, 2023 to 2033

Figure 74: Asia Pacific Market Value (US$ Million) by Form, 2023 to 2033

Figure 75: Asia Pacific Market Value (US$ Million) by Country, 2023 to 2033

Figure 76: Asia Pacific Market Value (US$ Million) Analysis by Country, 2018 to 2033

Figure 77: Asia Pacific Market Volume (MT) Analysis by Country, 2018 to 2033

Figure 78: Asia Pacific Market Value Share (%) and BPS Analysis by Country, 2023 to 2033

Figure 79: Asia Pacific Market Y-o-Y Growth (%) Projections by Country, 2023 to 2033

Figure 80: Asia Pacific Market Value (US$ Million) Analysis by Application, 2018 to 2033

Figure 81: Asia Pacific Market Volume (MT) Analysis by Application, 2018 to 2033

Figure 82: Asia Pacific Market Value Share (%) and BPS Analysis by Application, 2023 to 2033

Figure 83: Asia Pacific Market Y-o-Y Growth (%) Projections by Application, 2023 to 2033

Figure 84: Asia Pacific Market Value (US$ Million) Analysis by Form, 2018 to 2033

Figure 85: Asia Pacific Market Volume (MT) Analysis by Form, 2018 to 2033

Figure 86: Asia Pacific Market Value Share (%) and BPS Analysis by Form, 2023 to 2033

Figure 87: Asia Pacific Market Y-o-Y Growth (%) Projections by Form, 2023 to 2033

Figure 88: Asia Pacific Market Attractiveness by Application, 2023 to 2033

Figure 89: Asia Pacific Market Attractiveness by Form, 2023 to 2033

Figure 90: Asia Pacific Market Attractiveness by Country, 2023 to 2033

Figure 91: MEA Market Value (US$ Million) by Application, 2023 to 2033

Figure 92: MEA Market Value (US$ Million) by Form, 2023 to 2033

Figure 93: MEA Market Value (US$ Million) by Country, 2023 to 2033

Figure 94: MEA Market Value (US$ Million) Analysis by Country, 2018 to 2033

Figure 95: MEA Market Volume (MT) Analysis by Country, 2018 to 2033

Figure 96: MEA Market Value Share (%) and BPS Analysis by Country, 2023 to 2033

Figure 97: MEA Market Y-o-Y Growth (%) Projections by Country, 2023 to 2033

Figure 98: MEA Market Value (US$ Million) Analysis by Application, 2018 to 2033

Figure 99: MEA Market Volume (MT) Analysis by Application, 2018 to 2033

Figure 100: MEA Market Value Share (%) and BPS Analysis by Application, 2023 to 2033

Figure 101: MEA Market Y-o-Y Growth (%) Projections by Application, 2023 to 2033

Figure 102: MEA Market Value (US$ Million) Analysis by Form, 2018 to 2033

Figure 103: MEA Market Volume (MT) Analysis by Form, 2018 to 2033

Figure 104: MEA Market Value Share (%) and BPS Analysis by Form, 2023 to 2033

Figure 105: MEA Market Y-o-Y Growth (%) Projections by Form, 2023 to 2033

Figure 106: MEA Market Attractiveness by Application, 2023 to 2033

Figure 107: MEA Market Attractiveness by Form, 2023 to 2033

Figure 108: MEA Market Attractiveness by Country, 2023 to 2033

Frequently Asked Questions

What is the anticipated value of the worldwide agar market in 2023?

The market is anticipated to be valued at USD 292 million in 2023.

How is the historical performance of the agar market?

The market grew at a 2.1% CAGR from 2018 to 2022.

What is the growth potential of the agar market by 2033?

The market is expected to reach USD 478.4 million by 2033.

What is the expected market share of the North America agar market in 2023?

North America is expected to generate 28.9% of the revenue in 2023.

What opportunities await agar market players?

The plant-based diet trend and vegan lifestyle adoption offer significant potential.

Future Market Insights

Agar Market