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Global Agar Resin Market: By Form: Strips, Powder, Granules; By Application: Personal Care, Food and beverages, Cosmetics, Pharmaceutical, Nutraceutical, Others; Regional Analysis; Historical Market and Forecast (2017-2027); Market Dynamics: SWOT Analysis; Value Chain Analysis; Competitive Landscape; Industry Events and Developments
Global Agar Resin Market Outlook
The global agar resin market is expected to grow at a CAGR of about 10.90% in the forecast period of 2022-2027 to reach a value of around USD 2.24 billion by 2027, aided by the changing lifestyles of the consumers.
North America to be one of the Significant Regional Markets for Agar Resin
North America is one of the largest regions due to increasing disposable income and a high standard of living. Developed countries of North America, such as the United States and Canada, are demanding new and innovative products, contributing to the rising demand for agar resin products in this region. Rising demand for food and beverages, cosmetic and pharmaceutical products in the United States and the increased popularity and demand for products like confectionery, candies, jellies, and puddings further augment the market demand.
Asia Pacific is expected to be a significant region for the agar resin industry due to agar's increased prevalence in Japanese, Korean, and Indian cuisine. The Asia Pacific emerged as a prominent consumer of agar resin due to its rapidly expanding pharmaceutical industry, coupled with growing awareness regarding health benefits associated with dietary supplements and functional foods and beverages among consumers in emerging economies, including China.
Europe is anticipated to expand significantly by the end of the forecast period for the agar resin industry due to rapid research in biotherapeutics and vaccine purification.
Market Segmentations
Agar resin refers to a vegetarian alternative to gelatin. It is a gelatinous polysaccharide made from red algae and seaweed that is used to gel various foods and has a number of functional and health benefits. It is a culinary ingredient that can also thicken soups and other sweets instead of gelatin.
By form, the market includes the following:
- Strips
- Powder
- Granules
The significant applications of the market are:
- Personal Care
- Food and Beverages
- Cosmetics
- Pharmaceutical
- Nutraceutical
- Others
The regional markets for the agar resin industry can be divided into North America, Europe, the Asia Pacific, Latin America, the Middle East and Africa.
Increasing Demand in Various End-Use Sectors Augmenting the Market Growth
Consumers are shifting their interest to a healthy lifestyle due to the growing demand for natural ingredients in food and other industries. Therefore, agar resin is used as an ingredient for a gelling number of the end products, such as fruit jam, candy, soup, sauces, gelatin food products, and many more. Consumers often use agar resin as a natural remedy to relieve constipation. It consists of high edible fibre and is beneficial for diabetic and obese patients, thus driving the agar resin industry. An increase in the vegan population drives the market demand for agar resin, and to access those consumers, the manufacturers produce varieties of food products which are natural or plant-derived ingredients.
Agarwood leaf tea is applicable in removing mercury from the body, thus decreasing the risk of mercury neurological disorders and can prevent skin ageing. Agarwood oud oil can also influence the hormones that stimulate and regulate irregular periods, which can also create balance for women approaching menopause to alleviate many of the problems that arise at that time of life. Therefore, the growing pharmaceutical and nutraceutical industry is also driving the agar resin market growth.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Industry Opportunities and Challenges
8 Global Agar Resin Market Analysis
8.1 Key Industry Highlights
8.2 Global Agar Resin Historical Market (2017-2021)
8.3 Global Agar Resin Market Forecast (2022-2027)
8.4 Global Agar Resin Market by Form
8.4.1 Strips
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2017-2021)
8.4.1.3 Forecast Trend (2022-2027)
8.4.2 Powder
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2017-2021)
8.4.2.3 Forecast Trend (2022-2027)
8.4.3 Granules
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2017-2021)
8.4.3.3 Forecast Trend (2022-2027)
8.5 Global Agar Resin Market by Application
8.5.1 Personal Care
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2017-2021)
8.5.1.3 Forecast Trend (2022-2027)
8.5.2 Food and beverages
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2017-2021)
8.5.2.3 Forecast Trend (2022-2027)
8.5.3 Cosmetics
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2017-2021)
8.5.3.3 Forecast Trend (2022-2027)
8.5.4 Pharmaceutical
8.5.4.1 Market Share
8.5.4.2 Historical Trend (2017-2021)
8.5.4.3 Forecast Trend (2022-2027)
8.5.5 Nutraceutical
8.5.5.1 Market Share
8.5.5.2 Historical Trend (2017-2021)
8.5.5.3 Forecast Trend (2022-2027)
8.5.6 Others
8.6 Global Agar Resin Market by Region
8.6.1 Market Share
8.6.1.1 North America
8.6.1.2 Europe
8.6.1.3 Asia Pacific
8.6.1.4 Latin America
8.6.1.5 Middle East and Africa
9 Regional Analysis
9.1 North America
9.1.1 Historical Trend (2017-2021)
9.1.2 Forecast Trend (2022-2027)
9.1.3 Breakup by Country
9.1.3.1 United States of America
9.1.3.2 Canada
9.2 Europe
9.2.1 Historical Trend (2017-2021)
9.2.2 Forecast Trend (2022-2027)
9.2.3 Breakup by Country
9.2.3.1 United Kingdom
9.2.3.2 Germany
9.2.3.3 France
9.2.3.4 Italy
9.2.3.5 Others
9.3 Asia Pacific
9.3.1 Historical Trend (2017-2021)
9.3.2 Forecast Trend (2022-2027)
9.3.3 Breakup by Country
9.3.3.1 China
9.3.3.2 Japan
9.3.3.3 India
9.3.3.4 ASEAN
9.3.3.5 Australia
9.3.3.6 Others
9.4 Latin America
9.4.1 Historical Trend (2017-2021)
9.4.2 Forecast Trend (2022-2027)
9.4.3 Breakup by Country
9.4.3.1 Brazil
9.4.3.2 Argentina
9.4.3.3 Mexico
9.4.3.4 Others
9.5 Middle East and Africa
9.5.1 Historical Trend (2017-2021)
9.5.2 Forecast Trend (2022-2027)
9.5.3 Breakup by Country
9.5.3.1 Saudi Arabia
9.5.3.2 United Arab Emirates
9.5.3.3 Nigeria
9.5.3.4 South Africa
9.5.3.5 Others
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyer’s Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Value Chain Analysis
12 Competitive Landscape
12.1 Market Structure
12.2 Company Profiles
13 Industry Events and Developments
List of Figures and Tables
1. Global Agar Resin Market: Key Industry Highlights, 2017 and 2027
2. Global Agar Resin Historical Market: Breakup by Form (USD Billion), 2017-2021
3. Global Agar Resin Market Forecast: Breakup by Form (USD Billion), 2022-2027
4. Global Agar Resin Historical Market: Breakup by Application (USD Billion), 2017-2021
5. Global Agar Resin Market Forecast: Breakup by Application (USD Billion), 2022-2027
6. Global Agar Resin Historical Market: Breakup by Region (USD Billion), 2017-2021
7. Global Agar Resin Market Forecast: Breakup by Region (USD Billion), 2022-2027
8. North America Agar Resin Historical Market: Breakup by Country (USD Billion), 2017-2021
9. North America Agar Resin Market Forecast: Breakup by Country (USD Billion), 2022-2027
10. Europe Agar Resin Historical Market: Breakup by Country (USD Billion), 2017-2021
11. Europe Agar Resin Market Forecast: Breakup by Country (USD Billion), 2022-2027
12. Asia Pacific Agar Resin Historical Market: Breakup by Country (USD Billion), 2017-2021
13. Asia Pacific Agar Resin Market Forecast: Breakup by Country (USD Billion), 2022-2027
14. Latin America Agar Resin Historical Market: Breakup by Country (USD Billion), 2017-2021
15. Latin America Agar Resin Market Forecast: Breakup by Country (USD Billion), 2022-2027
16. Middle East and Africa Agar Resin Historical Market: Breakup by Country (USD Billion), 2017-2021
17. Middle East and Africa Agar Resin Market Forecast: Breakup by Country (USD Billion), 2022-2027
18. Global Agar Resin Market Structure
Key Questions Answered in the Report
The global agar resin market is projected to grow at a CAGR of 10.90% between 2022 and 2027.
The market is estimated to witness healthy growth in the forecast period of 2022-2027 to reach USD 2.24 billion by 2027.
The major drivers of the market include the increasing disposable income, high standard of living, increasing use in the cosmetic and personal care sector, growing awareness regarding health benefits, rapid research in the field of biotherapeutics and vaccine purification, and increase in the vegan population.
The growing demand for natural ingredients in the food and beverage industry and the ever-increasing pharmaceutical and nutraceutical industry is the key industry trends propelling the market's growth.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The different forms are strips, powder, and granules.
The significant applications of the market are personal care, food and beverages, cosmetics, pharmaceutical, and nutraceuticals, among others.
Analyst Review
The global agar resin market was driven by the growing demand for natural ingredients in the food and beverage industry in the historical period. Aided by the increasing use in the cosmetic and personal care industry and the growing pharmaceutical and nutraceutical industry, the market is expected to witness further growth in the forecast period of 2022-2027, growing at a CAGR of 10.90%. The market is projected to reach USD 2.24 billion by 2027.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. The different forms are strips, powder, and granules. The significant applications of the market are personal care, food and beverages, cosmetics, pharmaceutical, and nutraceuticals, among others. The major regions for agar resin market are North America, Europe, the Asia Pacific, Latin America, the Middle East and Africa.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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