Global Agar Powder Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Agar Powder Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Agar powder is a kind of algae gum extracted from Cauliflower and other red algae plants. Because of its special gel properties, it has been widely used in food, medicine, chemical industry, textile, national defense, biological research and other fields.

Market Overview:

The latest research study on the global Agar Powder market finds that the global Agar Powder market reached a value of USD 286.3 million in 2022. It’s expected that the market will achieve USD 385.2 million by 2028, exhibiting a CAGR of 5.07% during the forecast period.

Since the COVID-19 virus outbreak in December 2019, the disease has spread to almost 200 countries around the globe with the World Health Organization declaring it a public health emergency. The global impacts of the coronavirus disease 2019 (COVID-19) are already starting to be felt, and will significantly affect the Agar Powder market in 2020.

The outbreak of COVID-19 has brought effects on many aspects, like flight cancellations; travel bans and quarantines; restaurants closed; all indoor events restricted; over forty countries state of emergency declared; massive slowing of the supply chain; stock market volatility; falling business confidence, growing panic among the population, and uncertainty about future.

The portion owned by the enterprise is largely driven by increasing financial incentives and regulatory support from global governments. The Agar Powder currently owned by public utilities is mainly affected by the COVID-19 pandemic. Most projects in China, Germany, the United States and South Korea have been delayed. Due to supply chain restrictions and insufficient site access due to the COVID-19 epidemic, these Agar Powder companies are facing short-term operational problems.

Drivers

Agar Powder is widely used in many aspects such as food industry, pharmaceutical industry, daily chemical industry and bioengineering. In addition, Agar Powder itself is rich in water-soluble dietary fiber, has health effects such as detoxification and beauty, lowering blood sugar, lowering blood fat, and has become a new favorite in the food market.

The Agar Powder market has attracted attention because it is the best gelatin substitute for vegetarians. The public's increasing awareness of the benefits of vegan food has brought an impact on the market. The application of Agar Powder in various products, such as bakery and confectionery, meat products, dairy products, etc., has driven the development of the market.

The growing research activities in the microbiology laboratory have increased the demand for Agar Powder growing bacteria and other microorganisms. With the improvement of living standards and the global higher scientific research input from governments, enterprises, research institutions, schools, etc., it has also continuously promoted the development of the Agar Powder market industry.

Restraints

The technical barriers of agar powder are relatively high. For example, agar powder has uneven technology in dissolving turbidity and phosphate turbidity. Although the turbidity and water content will not have a large impact on the production of bacteria, it will affect the appearance of the culture medium. The impact is very large, too high moisture is not conducive to the preservation of agar. Agar powder is stable under neutral or alkaline conditions, and is easily degraded by acidity. Especially under the condition of high-water content, the strength of agar gel will accelerate degradation with the extension of storage time.

Improvements in energy, transportation costs, employee salaries and equipment depreciation will play an important role in increasing the cost of agar powder. Therefore, the company faces the risk of declining profits to a certain extent. Affected by COVID-19, some Agar Powder companies may compete for government financial assistance. Governments can consider expanding credit lines, reducing infrastructure costs, short-term financing, reducing tax burdens and supply chain assistance.

Region Overview:

Asia Pacific had the highest growth rate of all regions.

Company Overview:

Green Fresh Group is one of the major players operating in the Agar Powder market, holding a share of 15.21% in 2023.

Green Fresh Group

Green Fresh Group was founded in November 2007. It is a technology-intensive enterprise specializing in research and production of food additives agar, carrageenan and their compound products. It covers an area of nearly 100,000 square meters and has complete and complete modern automated production lines.

Zhenpai Hydrocolloids

As one professional Hydrophilic Colloids manufacturer in China, ZHENPAI has been producing AGAR-AGAR and CARRAGEENAN since 1985. ZHENPAI is also a technological corporation of hydrocolloids manufacturing, exporting and trading.

Segmentation Overview:

Among different product types, Gracilaria Agar Powder segment is anticipated to contribute the largest market share in 2028.

Application Overview:

By application, the Food Industry segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Agar Powder market covered in Chapter 3:

Agarmex
Yantai Xieli
Industrias Roko, S.A.
Puning Huixiang
Fujian Gold Swallow Ocean Biotech
Zhenpai Hydrocolloids
Hizense Seaweed Biological
Taike Biotechnology
Hispanagar
Fujian Global Ocean Biotechnology
Green Fresh Group
Putian Chengxiang Jingyi seaweed
Marine Hydrocolloids
B&V

In Chapter 4 and Chapter 14.2, on the basis of types, the Agar Powder market from 2018 to 2029 is primarily split into:

Gelidium Agar Powder
Gracilaria Agar Powder
Pterocladia Agar Powder
Other

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Agar Powder market from 2018 to 2029 covers:

Food Industry
Pharmaceutic
Cosmetics
Daily Chemical
Scientific Research

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)