FMI Seeks on Global Agar Market and Anticipated Global Value of Agar to Surpass US $357,091.6 by 2026

By , in PR PR Health on .

Valley Cottage, NY — 12/26/2017 — Agar being used as an essential natural ingredient in food and beverages; in technical application; in bacteriological and many other sectors is propelling the demand for agar. Future Market Insights (FMI) estimates global agar volume to surpass 10,968.8 tonnes by 2016 end and represent market value of over US$ 220,838.5.

In global market, the demand for agar is dominated by food and beverage segment which especially includes bakery and dairy products. Companies dealing in agar products are promoting agar as an ingredient which has natural and health benefits. Apart from its wide application in food and beverages industry, its application is also increasing in cosmetics, pharmaceuticals, media culture and medical analytics.

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Food and beverage industry is the largest segment which are preferring agar as a thickener and stabilising agent and is expected to account for over 84.0% value share in 2016. Moreover, food and beverage segment is expected to reach 9,216.8 tonnes in 2016 – an increase of 1.5% over 2015.

The form segment includes strips and powder. With powder segment registering significant revenue generation and estimated to account for 63.5% value share in 2016. FMI estimates global consumption of agar powder to surpass 6,969.7 tonnes by 2016 end, an increase of 1.7% in 2016 over 2015.

In terms of consumption, Western Europe is the largest consumer with the total consumption estimated at 3,012.7 tonnes in 2015. Among all the regions, APEJ is predicted to observe robust growth over forecast period 2016–2026.

Agarmex, New Zealand Manuka Group, Hispanagar, Acroyali Holdings Qingdao Co. Ltd., Industrias Roko, S.A, Neogen, Merck Group, Agarindo Bogatama, Setexam and Norevo Gmbh are the major companies identified across the value chain in the global agar market. Companies are also emphasising on research and development for application of agar in technical applications.

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Long-Term outlook:FMI seeks a positive long-term outlook on global agar market and anticipated global value of agar to surpass US$ 357,091.6 by 2026. Volume-wise, the global agar market is estimated to expand at a CAGR of 2.6% through 2026.

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Brad Bennett

Brad Bennett

Brad grew up in a small town in northern Iowa. He studied chemistry in college, graduated, and married his wife one month later. They were then blessed with two baby boys within the first four years of marriage. Having babies gave their family a desire to return to the old paths – to nourish their family with traditional, homegrown foods; rid their home of toxic chemicals and petroleum products; and give their boys a chance to know a simple, sustainable way of life. They are currently building a homestead from scratch on two little acres in central Texas. There’s a lot to be done to become somewhat self-sufficient, but they are debt-free and get to spend their days living this simple, good life together with their five young children.
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