Market Size of Europe Agar Industry
| 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.
