Technavio predicts a remarkable surge in the Agar Market, with an impressive CAGR of 3.56% anticipated from 2022 to 2027. The increasing prominence of private

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09 Jun, 2023, 11:45 ET

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NEW YORK, June 9, 2023 /PRNewswire/ --

Market Share along with Major Challenges and Upcoming Trends

A key driver for the agar market is the Rising demand for dairy products. Agar gives food manufacturers an added benefit because the gels exhibit high thermal stability and are not hampered during the manufacturing process. At a low concentration level of 0.04%, it can jellify, thicken, and stabilize food products without any assistance from technology. The agar market is set to progress at an impressive CAGR of 3.56% during 2022 and 2027.

In addition to knowing about the market's growth potential, it's important to address the challenges faced in the Agar market that may impact its growth and hinder profitability in the long run. However, healthy growth is envisaged to continue as the market size is expected to grow by USD 41.46 million.

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Here are some of the challenges faced in the Agar market:

Here are the highlights on the Trends to overcome challenges.

Many milk-based local desserts in APAC use agar to jellify, and with the rise in the demand for vegan products, agar can be used as a substitute for gelatin. Therefore, the segment is expected to witness an incremental year-over-year growth rate during the forecast period. For the longevity and success in the Agar market, Information about trend is essential.

The report also provides the major insights on consumer base product category and new product launches that help vendors establish long-term relationships with end-users and consumers.

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Every Information on Vendor Analysis of Agar Market 2023-2027:

The full report consists detailed analysis of around Top 15 vendors operating in the Agar Market, including :

Vendor Offerings of Agar Market-

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Related Report:

Agarwood Essential Oil : The Agarwood Essential Oil Market is projected to increase by USD 1,075.28 million from 2022 to 2027. The market is estimated to grow at a CAGR of 6.86% between 2022 and 2027.Bamboos Market : The bamboos market is estimated to grow at a CAGR of 5.45% between 2022 and 2027. The market size is forecasted to increase by USD 20.38 billion.

Agar Market Scope

Report Coverage

Details

Page number

150

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 3.56%

Market growth 2023-2027

USD 41.46 million

Market structure

Fragmented

YoY growth 2022-2023(%)

2.5

Regional analysis

Europe, North America, APAC, Middle East and Africa, and South America

Performing market contribution

Europe at 37%

Key countries

US, China, Germany, UK, and France

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

AgarGel, Agramex SA de CV, Ases Chemical Works, B and V srl, Central Drug House Pvt. Ltd., Hispanagar S A, INDUSTRIAS ROKO SA, Ingredion Inc., Merck KGaA, Meron Group, MSC Co. Ltd., Myeong Shin Agar-Agar Co. Ltd., Neogen Corp., New Zealand Manuka Group, Orient Resources Co., PT. Agar Swallow , PT. Agarindo Bogatama, PT Surya Indoalgas, SETEXAM SA, and Titan Biotech Ltd.

Market dynamics

Parent Market Analysis; Market growth inducers and obstacles; Fast-growing and slow-growing segment analysis for the forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Product Type

7 Market Segmentation by Application

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Vendor Landscape

12 Vendor Analysis

13 Appendix

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact

Technavio ResearchJesse MaidaMedia & Marketing ExecutiveUS: +1 844 364 1100UK: +44 203 893 3200Email: [email protected]Website: www.technavio.com/

SOURCE Technavio