Agar Market Size | Share | CAGR of 3.9% | Trends | Forecast by 2024

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Agar Market 2019-2024

Agar or agar-agar is a jelly-like substance, obtained from algae. Agar is derived from the polysaccharide agarose, which forms the supporting structure in the cell walls of certain species of algae, and which is released on boiling. These algae are known as agarophytes and belong to the Rhodophyta red algae phylum. Agar is actually the resulting mixture of two components: the linear polysaccharide agarose and a heterogeneous mixture of smaller molecules called agaropectin.
The global Agar market was valued at USD 268.58 million in 2016 and is expected to reach USD 338.17 million by 2022.

The technical barriers of Agar are relatively high, resulting in high level concentration degree. The key companies in Agar market are Green Fresh Group, Kingyen, Shantou Chenghai District Agar Glue Factory, Huey shying, Fuli Agar Factory, Mingfu Fujian Agar Co., Marine Hydrocolloids, ROKO, Agarmex, etc. And the enterprises are concentrated in China. China is the largest producer, occupied about 62% production.

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According to customer types, Agar is widely used in Food Industry, Pharmaceutic, Cosmetics, Daily Chemical and Scientific Research. In 2016, Agar for Food Industry occupied more than 57% of total amount. With the improvement of living standards and global higher scientific research investment from government, enterprises, research institutions, schools, etc. the demand for Agar is expected to increase during the remaining years of the forecast period of 2017-2022. Agar industry will usher in a stable growth space.

However, the improvement of energy, transportation costs, employee wages, and equipment depreciation will play a significant role in promoting the cost of Agar. Therefore, to some extent, the companies face the risk of profit decline.

According to this study, over the next five years the Agar market will register a 3.9% CAGR in terms of revenue, the global market size will reach US$ 350 million by 2024, from US$ 280 million in 2019. In particular, this report presents the global market share sales and revenue of key companies in Agar business, shared in Chapter 3.

This report presents a comprehensive overview, market shares, and growth opportunities of Agar market by product type, application, key manufacturers and key regions and countries.

This study considers the Agar value and volume generated from the sales of the following segments:

Segmentation by product type: breakdown data from 2014 to 2019, in Section 2.3; and forecast to 2024 in section 11.7.

Wild Harvest Gelidium Agar
Aquafarm Gelidium Agar
Wild Harvest Gracilaria Agar
Aquafarm Gracilaria Agar
Other Wild Harvest Agar
Other Aquafarm Agar

Segmentation by application: breakdown data from 2014 to 2019, in Section 2.4; and forecast to 2024 in section 11.8.

Food Industry
Daily Chemical
Scientific Research

This report also splits the market by region: Breakdown data in Chapter 4, 5, 6, 7 and 8.

Middle East & Africa

The report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market. The key manufacturers covered in this report: Breakdown data in in Chapter 3.

Green Fresh Group
Shantou Chenghai District Agar Glue Factory
Huey shyang
Fuli Agar Factory
Mingfu Fujian Agar Co.
Marine Hydrocolloids
B&V Agar
Global BioIngredients
Fujian Global Ocean Biotechnology
Taike Biotechnology
Agar Brasileiro
Fujian Wuyi Feiyan Agar

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In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key manufacturers and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.

Research objectives

To study and analyze the global Agar consumption value & volume by key regions/countries, product type and application, history data from 2014 to 2018, and forecast to 2024.
To understand the structure of Agar market by identifying its various subsegments.
Focuses on the key global Agar manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis and development plans in next few years.
To analyze the Agar with respect to individual growth trends, future prospects, and their contribution to the total market.
To share detailed information about the key factors influencing the growth of the market growth potential, opportunities, drivers, industry-specific challenges and risks .
To project the consumption of Agar submarkets, with respect to key regions along with their respective key countries .
To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
To strategically profile the key players and comprehensively analyze their growth strategies.

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