Global Agar Containing Seaweed Market – Industry Trends and Forecast to 2029

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Agar Containing Seaweed Market Analysis and Size

The seaweed industry is expected to grow significantly due to ongoing efforts to increase consumption by developing various innovative methods of incorporating seaweed into preferred food products. The United Nations has strongly expressed interest in increasing seaweed production to promote global food security. This will likely increase global production capacity and support global market growth in the coming years.

Data Bridge Market Research analyses that the agar containing seaweed market was valued at USD 175 million in 2021 and is expected to reach the value of USD 403.29 million by 2029, at a CAGR of 11.00% during the forecast period of 2022-2029. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Report Scope and Market Segmentation

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Market Definition

Agar, also known as agar-agar and kanten, is a dried hydrophilic colloidal substance extracted from Rhodophyceae red seaweed. Agar-agar is extracted from various red seaweed species around the world, including Gelidium, Gracilaria, Pterocladia, and Gelidiella. These agar seaweeds are known as agarophytes and have different properties depending on where they come from. Strong polysaccharides like agarose and molecules referred to as agaropectin are combined to create agar. D-Galactose and 3-6 repeating units, anhydro L-Galactose, sulphur esters, and D-glucuronic acid are also included in its extremely complicated chemical structure.

Global Agar Containing Seaweed Market Dynamics

Drivers

• Rising demand for seaweed due to their multi functionality in various industries

Increasing application from the agriculture industry to improve seed germination and fertilizer effectiveness, rising demand in cosmetics products such as shampoo, cream, and others, surging growth of the marine industry, and increased investment for the development of advanced products are some of the factors that will drive the growth of the agar containing seaweed market during the forecast period. Expanding demand for organic products, a rise in the growth of the marine industry, increasing innovative technology, and expanding research and development activities are some of the primary factors driving the global agar containing seaweed market.

• Agar as an organic additive in food and beverage industry

Agar is widely used in various products as a gelling agent, stabilizer, clarifying agent, laxative, thickener, and other additives. As it is free of calories, sugar, carbohydrates, fat, and a high amount of fibre, it is used to manufacture certain medicines and treat conditions such as obesity, diabetes, constipation, and others. It is becoming more popular in the food and beverage industries as a gelling agent in vegan products and a gelatin substitute. It is used as a thickening agent, emulsifier, and stabilizer.

Opportunity

Growing technological development, combined with rising consumption of seaweed as a snack, will provide numerous opportunities for the growth of the agar-containing seaweed market during the forecast period.

Restraints

Rising natural disasters, as well as a lack of financial support and inadequate marine spatial plans, are acting as market restraints for the growth of agar-containing seaweed during the forecast period.

This agar containing seaweed market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the agar containing seaweed market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

COVID-19 Impact on Agar Containing Seaweed Market

Consumer food and beverage manufacturers faced significantly reduced consumption and disrupted supply chains. Due to the various country-imposed lockdowns, the food and beverage sector has experienced a minor decline. This scenario has also negatively impacted the confectionery industry, as people only purchase necessities. Furthermore, various government bodies have enacted various rules and regulations governing the purchase of essential goods. Confectionery consumption has decreased significantly due to most consumers purchasing only crucial items. The consumption of seaweed biomass by consumers has decreased, according to trade groups in the nutritional products sector, as a result of a substantial influence on numerous points in the worldwide supply chain for functional meals and dietary supplements.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Global Agar Containing Seaweed Market Scope

The agar containing seaweed market is segmented on the basis of method of harvesting, form and application. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Method of Harvesting

• Wild Harvesting
• Aquaculture

Application

• Food
• Dietary Supplements
• Agriculture
• Animal Feed
• Textiles
• Paper
• Fertilizers
• Other Applications

Form

• Liquid
• Powder
• Flakes

Agar Containing Seaweed Market Regional Analysis/Insights

The agar containing seaweed market is analysed and market size insights and trends are provided by country, method of harvesting, form and application as referenced above.

The countries covered in the agar containing seaweed market report are U.S., Canada and Mexico in North America, Germany, Sweden, Poland, Denmark, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the agar containing seaweed market due to rising applications of seaweed in the food industry as well as increased public awareness about the functional properties of seaweed.

Asia-Pacific is expected to grow from 2022 to 2029 due to increased consumption and production of commercial seaweed.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Agar Containing Seaweed Market Share Analysis

The agar containing seaweed market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to agar containing seaweed market.

Some of the major players operating in the agar containing seaweed market are:

• Seaweed & Co. (U.K.)
• Cargill, Incorporated (U.S.)
• Green Rise Agro Industries (India)
• Viet Delta (Vietnam)
• Ocean rainforest (Denmark)
• Thorverk hf. (Iceland)
• ALGAplus (Portugal)
• MYCSA Ag, Inc. (U.S.)
• Baoji Earay Bio-Tech Co., Ltd (China)
• Shore Seaweed (U.K.)
• Rongcheng Jingyi Ocean Technology Co., Ltd. (China)
• Sar Agrochemicals & Fertilizers Pvt. Ltd. (India)

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