South America Agar Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

South America Agar Market is segmented into Form (Strip, Powder, and Other Forms), Application (Food and Beverage, Pharmaceuticals, and Other Applications), and Country.

Market Snapshot

South America Agar Market Summary
Study Period: 2016 - 2026
Base Year: 2020
CAGR: 2.8 %

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Market Overview

The South American agar market is anticipated to record a CAGR of 2.8% during the forecast period (2020-2025).

  • The market is witnessing rapid growth, owing to the wide range of applications it offers due to the gelling and thickening properties. It is majorly used in food and beverage processing, such as bakery, confectionery, meat and poultry preserving, and others. In addition, its preference in over other polysaccharides in the food and beverage manufacturing, especially the sugary food products, due to the high compatibility of agar gum in a sugary environment, in order to provide a stable structure to concentrated sugary system, is fueling the market growth.
  • Furthermore, pharmaceutical and microbiological application segments are also estimated to witness an increase in demand for agar-agar gum, as a laxative agent, and culturing media for microorganisms.
  • However, the limited production and supply of agar across the region is expected to curb the market growth of agar.

Scope of the report

The agar market in South America 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 South America, including Brazil, Argentina, and the Rest of South America.

By Form
Strip
Powder
Other Forms
By Application
Food and Beverage
Pharmaceuticals
Other Applications
By Country
Brazil
Argentina
Rest of South America

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Key Market Trends

Rising Demand For Vegan Food Ingredients

As there has been significant growth in the people shifting toward veganism across the region, vegan products are on the 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.

South America Agar Market1

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Brazil Continue to Dominate the Regional Market

In South America, Brazil holds a significant share in the agar market. This is primarily due to the rising production of agar on the coasts of Brazil. In Brazil, the exploitation of seaweeds for agar production occurs mainly in the northeastern part of the country. Gracilaria of different species is generally harvested in Brazil, mostly in warm waters, that produces a less resistant agar (agarose) to enzymatic hydrolysis. In addition, companies dominating the Brazilian market are highly focused on research and development, which is helping to leverage the emerging opportunities in the forecast period. Also, strategic agreements of domestic players with international distributors to expand its distribution of products in Brazil, such as Agarmex, are thus boosting the Brazilian market.

South America Agar Market2

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Competitive Landscape

The South America 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 South American market include Agargel, Setexam, TIC Gums Inc., and Meron, among others.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Porter's Five Forces Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Form

      1. 5.1.1 Strip

      2. 5.1.2 Powder

      3. 5.1.3 Other Forms

    2. 5.2 By Application

      1. 5.2.1 Food and Beverage

      2. 5.2.2 Pharmaceuticals

      3. 5.2.3 Other Applications

    3. 5.3 By Country

      1. 5.3.1 Brazil

      2. 5.3.2 Argentina

      3. 5.3.3 Rest of South America

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Most Active Companies

    2. 6.2 Most Adopted Strategies

    3. 6.3 Market Position Analysis

    4. 6.4 Company Profiles

      1. 6.4.1 Agargel

      2. 6.4.2 Setexam

      3. 6.4.3 TIC Gums Inc.

      4. 6.4.4 Meron

      5. 6.4.5 Agar Brasileiro Ind. E.com. Ltda.

      6. 6.4.6 Sisco Research Laboratories Pvt Ltd

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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Frequently Asked Questions

The South America Agar Market market is studied from 2016 - 2026.

The South America Agar Market is growing at a CAGR of 2.8% over the next 5 years.

Agargel, Setexam, TIC Gums, Inc., Meron, Agar Brasileiro Ind. E.com. Ltda. are the major companies operating in South America Agar Market.

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