Market Size of Middle East and Africa Agar Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 5.50 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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MEA Agar Market Analysis
The Middle East and Africa agar market is projected to grow at a CAGR of 5.5% during the forecast period (2020 - 2025).
- The strong growth in the seaweed industry of the Middle Eastern and African countries such as South Africa has resulted in increasing production of agar for various end-user industries. The end-user industries primarily food and beverage started treating agar as an important culinary ingredient as it acts as a substitute for gelatin and can be used as a thickener in soup, fruit preserves, ice cream, and other products.
- Furthermore, agar being tasteless is a perfect ingredient in the food industry as it does not interfere with the flavor of the food produced, making it suitable for a wide range of food and beverage products.
- The cost-effectiveness of agar as compared to gelatine is also one of the major factors which has triggered the growth of agar market in the region and is expected to continue gaining momentum during the forecast period.
