Agar Resin Market Size, Share & Industry Analysis, By Form (Powder, Granules, Strips), By Application (Pharmaceuticals, Food & Beverages, Cosmetics & Personal Care, Nutraceuticals, Others) and Regional Forecast, 2024-2032
KEY INDUSTRY INSIGHTS
Agar resin is a gelatinous polysaccharide which is derived from red algae and seaweed. It is often used in food products as a vegetarian alternative for gelatin. In food industry, it is generally used as a thickening agent for soups, curries, desserts and can also be used in jams, pudding, custards and jellies. It is composed of two components, a linear polysaccharide called agarose and a mixture of tiny molecules called agaropectin. Besides its use in food it is also used in pharmaceuticals and microbiological where it is employed as solid substrate to hold the culture media.
The increasing demand for agar in pharmaceutical, food & beverages, cosmetics, and nutraceutical applications is driving the market for agar resin. The increasing awareness in people about vegan diet and its benefits is boosting the market demand. For instance, the use of almond and coconut milk instead of cattle milk has increased benefits. Almond milk is rich in Vitamin E which has exceptional skin and hair benefits. Additionally, agar resin is high in fiber which makes it useful remedy for constipation and obesity. It is also used in microbiology and biology labs for RNA and DNA analysis.
Growth of the agar resin market is expected to limit due to the limited availability of the seaweed from which it is produced, thus hindering the overall market growth.
Key Market Driver -
Adoption in various end-use sectors.
Key Market Restraint -
Availability of the raw material.
Market Segmentation:
Based on form, the market is segmented into powder, granules, and strip. Based on application, the market is segmented into pharmaceuticals, food & beverages, cosmetics & personal care, nutraceutical, and others.
From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Key Players Covered:
The global agar resin market consists of global & regional players operating. Some of the key players in the market Plasma Ruggedized Solutions, Reichhold Holdings International, Agar Scientific, D&R Dispersions & Resins, MSR Holding B.V., PolyLabs Ltd and Others.
Key Insights
- New Advancements in Production Technologies
- Key Trends in the Agar Resin Market
- New Product Launches, Expansions, Key Players
- Ranking of Key Players in the Market
Regional Analysis:
The market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is estimated to be the largest market for the agar resin attributed to the relatively higher use of agar in Japanese, Korean, and Indian cuisine. North America is estimated to the second-largest market attributed to the popularity and higher demand for sweets, candies, jellies and puddings. Europe is estimated to show considerable growth by the end of the forecast period. Latin America and Middle East and Africa is estimated to show sluggish growth due to the lower demand from the Arab Countries.
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Segmentation
ATTRIBUTE | DETAILS |
By Form |
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By Application |
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By Geography |
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Agar Resin Industry Developments
- In August 2019, Agar Scientific acquired EM resin manufacturer London Resin Company Ltd. This acquisition will ensure the continued operation of the products.
- Ongoing
- 2023
- 2019-2022
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