Europe Agar Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 4.20 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Europe Agar Market Analysis
The Europe agar market is forecasted to grow at a CAGR of 4.2% during the forecast period (2020-2025).
- The market is witnessing rapid growth owing to the rising benefits of agar as it has various minerals and vitamins such as iron, iodine, calcium, phosphorous, etc.is expected to serve as a prime drive factor to the market growth. Moreover, growing demand in the food and beverage industry as a thickening agent and stabilizing agent in various food products is expected to fuel market growth.
- Furthermore, its rising application in culture media and dentistry with the growing demand from the pharmaceutical industries has further boosted the market. Also, the acquisitive demand of agar in the cosmetics industry in the production of creams, moisturizers, lipsticks, ointments, and others is propelling market growth.
- Moreover, technological advancements, such as the introduction of metal scrappers provide room for harvesting large quantities of seaweed without putting in much effort, are further expected to boost the production of agar during the forecast period.
Europe Agar Market Trends
This section covers the major market trends shaping the Europe Agar Market according to our research experts:
Rising Demand For Vegan Food Ingredients
As there has been significant growth in the people shifting towards veganism across the region, vegan products are on a high rise. Agar, that is considered as a vegetarian alternative to gelatin has witnessed a significant rise in its demand, as vegans do not use gelatin because it is made from animal bones, skin, and connective tissue. It is used mostly in food products such as puddings, desserts, jelly candy, soups, sauces, and more. Also, frequent launches of new vegan beverages such as vegan wine, and others.
Rising Demand of Agar In Bakery and Confectionery Industry
In the baked goods industry, due to the ability of agar gels to withstand high temperatures, agar is gaining prominence as a stabilizer and thickener in pie fillings, icings, and meringues. Cakes, buns, etc., are often pre-packed in various kinds of modern wrapping materials and often stick to them, especially in hot weather by reducing the quantity of water and adding some agar, a more stable, smoother, non-stick icing is obtained. Some agars, especially those extracted from Gracilaria chilensis, are extensively used in confectionery with very high sugar content, such as fruit candies. Because agar is tasteless, it does not interfere with the flavors of foodstuffs. this contrasts with some of its competitive gums that require the addition of calcium or potassium salts to form gels. Thus, it is highly preferred by the bakery and confectionery manufacturers in the food industry.
Europe Agar Industry Overview
The Europe agar market is competitive and fragmented in nature owing to the presence of many regional and domestic players. Emphasis is given on the merger, expansion, acquisition, and partnership of the companies along with new product development as strategic approaches adopted by the leading companies to boost their brand presence among consumers. Key players dominating the European market include Hispanagar S A, Industrial Roko SA, Setexam, TIC Gums, Inc., and Foodchem International Corporation among others.
Europe Agar Market Leaders
Hispanagar S A
Industrial Roko SA
Setexam
TIC Gums, Inc.
Foodchem International Corporation
*Disclaimer: Major Players sorted in no particular order
Europe Agar Market Report - Table of Contents
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1. INTRODUCTION
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1.1 Study Deliverables
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1.2 Study Assumptions
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1.3 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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4. MARKET DYNAMICS
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4.1 Market Drivers
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4.2 Market Restraints
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4.3 Porter's Five Forces Analysis
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4.3.1 Threat of New Entrants
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4.3.2 Bargaining Power of Buyers/Consumers
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4.3.3 Bargaining Power of Suppliers
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4.3.4 Threat of Substitute Products
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4.3.5 Intensity of Competitive Rivalry
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5. MARKET SEGMENTATION
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5.1 By Form
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5.1.1 Strip
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5.1.2 Powder
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5.1.3 Others
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5.2 By Application
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5.2.1 Food and Beverage
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5.2.2 Pharmaceuticals
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5.2.3 Other Applications
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5.3 By Country
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5.3.1 United Kingdom
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5.3.2 Germany
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5.3.3 France
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5.3.4 Spain
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5.3.5 Russia
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5.3.6 Italy
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5.3.7 Rest of Europe
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6. COMPETITIVE LANDSCAPE
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6.1 Most Active Companies
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6.2 Most Adopted Strategies
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6.3 Market Position Analysis
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6.4 Company Profiles
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6.4.1 Hispanagar S A
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6.4.2 Industrial Roko SA
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6.4.3 Setexam
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6.4.4 TIC Gums, Inc.
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6.4.5 Foodchem International Corporation
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6.4.6 Fooding Group Limited
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6.4.7 Neogen Corporation
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6.4.8 Meron
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6.4.9 Sobigel
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6.4.10 Sisco Research Laboratories Pvt. Ltd.
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Europe Agar Industry Segmentation
The agar market in Europe has been segmented by form into strip, powder, and others; and by application into food and beverage, pharmaceuticals, and other applications. The food and beverage are further bifurcated into meat products, bakery confectionery, snacks/instant noodles, dairy, beverages, and other food and beverages. Also, the study provides an analysis of the agar market in the emerging and established markets across Europe, including the United Kingdom, Germany, France, Spain, Russia, Italy, and the Rest of Europe.
| By Form | |
| Strip | |
| Powder | |
| Others |
| By Application | |
| Food and Beverage | |
| Pharmaceuticals | |
| Other Applications |
| By Country | |
| United Kingdom | |
| Germany | |
| France | |
| Spain | |
| Russia | |
| Italy | |
| Rest of Europe |
Europe Agar Market Research FAQs
What is the current Europe Agar Market size?
The Europe Agar Market is projected to register a CAGR of 4.20% during the forecast period (2024-2029)
Who are the key players in Europe Agar Market?
Hispanagar S A, Industrial Roko SA, Setexam, TIC Gums, Inc. and Foodchem International Corporation are the major companies operating in the Europe Agar Market.
What years does this Europe Agar Market cover?
The report covers the Europe Agar Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Europe Agar Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Europe Agar Industry Report
Statistics for the 2024 Europe Agar market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Europe Agar analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
