Agar-Agar Flakes Market Size Worth $409.51 Million By 2032 Study By Polaris Market Research
The global agar-agar flakes market size is expected to reach USD 409.51 million by 2032, according to a new study by Polaris Market Research. The report “Agar-Agar Flakes Market Share, Size, Trends, Industry Analysis Report, By Grade (Food, Technical, Preactivate, Bacteriological, and Cosmetic and Pharma); By Claim; By End-Use; By Region; Segment Forecast, 2023 – 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The growing utilization of agar-agar in low-calorie and low-sugar food products that align with changing preferences for health-conscious consumers worldwide and rising proliferation for replacing animal-derived gelatin in several applications along with the prevalence for product as a clean and natural ingredient free from artificial or synthetic additives, are among the prominent factors boosting the global market growth at significant pace.
Ongoing research and development activities or efforts leading to the discovery of new applications for agar-agar, while expanding its market potential and surge in the number of consumers and manufacturers becoming more environmentally conscious, the demand for agar agar flakes likely to grow drastically due to its sustainable sourcing from seaweed that aligns with sustainability goals.
- For instance, the number of health-conscious consumers in India is expected to reach about 176 million by 2026 with a decent increase from 108 million in the year 2020, and the per capita spending on health food product is likely to double by 2026.
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With the rapidly increasing demand and need for vegan and plant-based foods all over the world, there is a substantial opportunity for agar-agar to gain traction as an effective gelatin alternative and resulting in increased focus among manufactures to develop new plant-based products like dairy alternatives, confectionery, and desserts using agar-agar to cater to this growing market segment and boost their revenue opportunities.
The constant growth in sustainability of seaweed farming practices were becoming a crucial concern for environment in the recent years. Thereby, agar-agar products sourced from responsibly managed seaweed farms while maintaining the quality and safety of products is becoming more appealing to environmentally conscious consumers and resulting in significant market growth.
Agar-Agar Flakes Market Report Highlights
- Food segment accounted for largest share, mainly due to widespread product use in different food products and natural and organic dietary supplements
- Organic segment held the significant market share, that is accelerated to higher preference for organic ingredients over conventional synthetic products
- Pharmaceutical segment will be growing at fastest pace, on account of growing investments in R&D activities to explore new product applications in pharma sector
- Asia Pacific dominated the global market, owing to significant use of product in various types of cuisines and traditional medicines across the region
- The key market players include Neogen Food Safety, Roland Foods, Penn Herb Company, Agar Swallow Indonesia, Agar Sari Jaya, and Gino Biotech
Polaris Market Research has segmented the agar-agar flakes market report based on grade, claim, end-use, and region:
Agar-Agar Flakes, Grade Outlook (Revenue – USD Billion, 2023 – 2032)
- Cosmetic and Pharma
Agar-Agar Flakes, Claim Outlook (Revenue – USD Million, 2023 – 2032)
Agar-Agar Flakes, End-Use Outlook (Revenue – USD Million, 2023 – 2032)
- Food & Beverage
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