Global Agar Resin Market Report and Forecast 2025-2034

Global Agar Resin Market Outlook

The global agar resin market is expected to grow at a CAGR of about 10.90% in the forecast period of 2024-2032 to reach a value of around USD 3.76 billion by 2032, aided by the changing lifestyles of the consumers.

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North America to be one of the Significant Regional Markets for Agar Resin

North America is one of the largest regions due to increasing disposable income and a high standard of living. Developed countries of North America, such as the United States and Canada, are demanding new and innovative products, contributing to the rising demand for agar resin products in this region. Rising demand for food and beverages, cosmetic and pharmaceutical products in the United States and the increased popularity and demand for products like confectionery, candies, jellies, and puddings further augment the market demand.

Asia Pacific is expected to be a significant region for the agar resin industry due to agar's increased prevalence in Japanese, Korean, and Indian cuisine. The Asia Pacific emerged as a prominent consumer of agar resin due to its rapidly expanding pharmaceutical industry, coupled with growing awareness regarding health benefits associated with dietary supplements and functional foods and beverages among consumers in emerging economies, including China.

Europe is anticipated to expand significantly by the end of the forecast period for the agar resin industry due to rapid research in biotherapeutics and vaccine purification.

Market Segmentations

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Agar resin refers to a vegetarian alternative to gelatin. It is a gelatinous polysaccharide made from red algae and seaweed that is used to gel various foods and has a number of functional and health benefits. It is a culinary ingredient that can also thicken soups and other sweets instead of gelatin.

By form, the market includes the following:

• Strips
• Powder
• Granules

The significant applications of the market are:

• Personal Care
• Food and Beverages
• Cosmetics
• Pharmaceutical
• Nutraceutical
• Others

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The regional markets for the agar resin industry can be divided into North America, Europe, the Asia Pacific, Latin America, the Middle East and Africa.

Increasing Demand in Various End-Use Sectors Augmenting the Market Growth

Consumers are shifting their interest to a healthy lifestyle due to the growing demand for natural ingredients in food and other industries. Therefore, agar resin is used as an ingredient for a gelling number of the end products, such as fruit jam, candy, soup, sauces, gelatin food products, and many more. Consumers often use agar resin as a natural remedy to relieve constipation. It consists of high edible fibre and is beneficial for diabetic and obese patients, thus driving the agar resin industry. An increase in the vegan population drives the market demand for agar resin, and to access those consumers, the manufacturers produce varieties of food products which are natural or plant-derived ingredients.

Agarwood leaf tea is applicable in removing mercury from the body, thus decreasing the risk of mercury neurological disorders and can prevent skin ageing. Agarwood oud oil can also influence the hormones that stimulate and regulate irregular periods, which can also create balance for women approaching menopause to alleviate many of the problems that arise at that time of life. Therefore, the growing pharmaceutical and nutraceutical industry is also driving the agar resin market growth.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
 

Key Highlights of the Report