Agar Market Is Estimated To Witness High Growth Owing To Rising Demand From Food and Beverages Industry

Market Overview:
Agar is an additive derived from red algae. It is commonly used as a gelling agent, thickening agent and vegetarian replacement for gelatin in food products. Agar provides texture and helps prevent liquid migration in desserts, confectioneries, bakery products and other food items. It has diverse applications in microbiological culture media, scientific research, cosmetics and pharmaceuticals owing to its gelling property.

Market key trends:
The global agar market is expected to witness significant growth due to rising demand from food and beverage industry. Agar finds extensive usage in dairy products, syrups, desserts, jams and jellies where it acts as a thickening and stabilizing agent. With changing dietary preferences and growing health consciousness, the demand for vegan and vegetarian food products is increasing. Agar being a vegetarian substitute for gelatin is increasingly preferred in various meat and dairy alternatives. Furthermore, growth in microbiology research and expanding pharma industry will also contribute to the demand for agar over the forecast period.

The global Agar Market Size is estimated to be valued at US$ 302.4 Mn in 2023 and is expected to exhibit a CAGR of 5.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

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