Agar Market to Witness Steady Expansion During2016 – 2026

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Report Synopsis

In this report, XploreMR offers a 10–year forecast of the global agar market between 2016 and 2026. In terms of value, the market is expected to expand at a CAGR of 4.9%, during the forecast period. The study presents insights on market dynamics and trends in all seven regions, which are expected to influence the current nature and future status of the global agar market over the forecast period. 

Report Description

In this report, XploreMR (XMR) analyses the global agar market for the period 2016–2026. The primary objective of the report is to offer updates on the advancements in the global agar market.

Increasing demand for natural ingredient coupled with rising inclination of consumers towards halal/kosher products are factors expected to support the growth of global agar market over the forecast period. Increasing usage of agar powder for cosmetic and medicinal purposes is likely to fuel growth of the market over the next few years.

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In the next section, XMR analyses the performance of the agar market on the basis of the global market revenue and volume split, since this is essential in understanding the future growth potential of the market. This section also includes XMR’s analysis of the key trends, drivers and restraints and opportunities that are influencing market growth currently. Impact analysis of the key growth drivers and restraints, based on the weighted average model, is included in the report across all regions to equip and arm clients with crystal clear decision-making insights. 

As highlighted earlier, the agar market is an aggregation of application (including food & beverages, bacteriological, technical applications and others), form (includes strips and powders). All these segments are included in this section to make the study more comprehensive.

Furthermore, food & beverages segment is 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. While, technical application is sub-segmented as cosmetology and medical applications.  

The next section of the report includes analysis of the agar market by region. It provides a market outlook for 2016–2026 and sets the forecast within the context of the agar market. This study discusses the key regional trends contributing to growth of the agar market on a worldwide basis, as well as analyses the degree at which the global drivers are influencing this market in each region. Key regions assessed in this report include North America, Latin America, Western Europe, Eastern Europe, Asia Pacific Excluding Japan (APEJ), Japan as a separate region and the Middle East and Africa (MEA).

All the above sections, by application, by form and by region evaluate the present scenario and the growth prospects in the agar market for the period 2016–2026. We have considered 2014 as the base year and provided data for the trailing 12 months. 

To calculate the agar market size, we have considered the overall revenue generated from sales of agar across the various regions. The forecast presented here assesses the total revenue, by value, generated across the agar market. In order to offer an accurate forecast, we started by sizing the current market, which forms the basis of how the agar market would develop in the future. Given the characteristics of the market, we triangulated the outcome on the basis of three different types of analyses, based on supply side, consumer spending and economic envelope. However, forecasting the market in terms of various agar segments and regions is more a matter of quantifying expectations and identifying opportunities rather than rationalizing them after the forecast has been completed.    

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It is imperative to note that in an ever-fluctuating global economy, we not only conduct forecasts in terms of CAGR, but also analyze on the basis of key parameters, such as Year-on-Year (Y-o-Y) growth, to understand the predictability of the market and to identify the right opportunities in the agar market.

Another key feature of this report is the analysis of all key agar market segments and sub-segments, regional adoption, revenue forecast in terms of absolute dollar and volume forecast in terms of absolute unit. This is traditionally overlooked while forecasting the market. However, absolute dollar and unit opportunity are critical in assessing the level of opportunity that a provider can look to achieve, as well as to identify potential resources, from a sales and delivery perspective, present in the agar market. 

In order to understand the key segments in terms of growth and adoption of agar across the concerned regions, XMR has developed the agar market attractiveness index, which should help clients identify the real market opportunities.

In the final section of the report, the agar market competitive landscape is included to provide report audiences with a dashboard view, based on various categories of providers present in the market value chain, their agar product portfolio and key differentiators in the market. Key categories of providers covered in the report are agar providers. This section is primarily designed to provide clients with an objective and detailed comparative assessment of key providers specific to a segment in the agar market value chain. Report audiences can gain segment-specific vendor insights to identify and evaluate key competitors based on the in-depth assessment of their capabilities and success in the agar market place. Detailed profiles of the providers are also included in the scope of the report to evaluate their long-term and short-term strategies, key offerings and recent developments in the agar market space.

Key competitors covered in the report 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.

Key Segments Covered By Application Food & Beverages Bakery Confectionery Dairy Canned meat/poultry products Beverages Sauces, creams & dressings Dietetic products Others Bacteriological Culture media Microbiology Technical Applications Cosmetology Medical applications Others By Form Splits Powders Key Regions/Countries Covered North America Latin America Western Europe Eastern Europe Asia Pacific Excluding Japan (APEJ) Middle East & Africa Japan

Key Companies Agarmex New Zealand Manuka Group Hispanagar Acroyali Holdings Qingdao Co. Ltd. Industrias Roko, S.A. Neogen Merck Group Agarindo Bogatama Setexam Norevo GmbH

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