North America Agar Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 4.61 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
North America Agar Market Analysis
North America agar market is projected to grow at a CAGR of 4.61% during the forecast period, 2020 - 2025.
- Increasing demand for natural ingredients coupled with the rising inclination of consumers towards vegan/vegetarian products are factors expected to support the growth of the North American agar market over the forecast period. The increasingly health-conscious populace is showing more inclination toward healthier substitutes.
- Agar owing to its ability to absorbs glucose in the stomach draws the attention of manufacturers willing to formulate weight-managing food products. The product passes through the digestive system quickly and inhibits the body from retaining and storing excess fat, thereby aiding in weight loss.
North America Agar Market Trends
This section covers the major market trends shaping the North America Agar Market according to our research experts:
Confectionery Holds a Prominent Share in the Market
Owing to the multifunctional properties served by the ingredient to the confectionery products, primarily effectuating organoleptic perception and texture attributes of products such as candies and chocolates, the industry remains the largest consumer for food-grade agar among other application segments. Acknowledging the diverse application and future potential in the market, manufacturers are heavily investing in research and development to come up with innovative products or technology, in order to claim the exceptional contribution in the market.
The United States Drives the Regional Market
The United States owing to its larger consumer base and heavy consumption holds the largest share in the regional market. Moreover, the growing vegan population in the country is another factor driving consumers from animal-based gelatin to plant-sourced agar while formulating food and beverage food products. According to Top Trends in Prepared Foods in 2017 report, 6% of the U.S. population now identifies as a vegan. Apart from this, the health benefits of agar are a major driving factor for the market. It improves bone health, reduces anxiety, maintains hearth health, improves satiety, and minimizes the feelings of hunger.
North America Agar Industry Overview
North America agar market is fragmented with a large number of regional small-medium scale players and key global players. Manufacturers are focusing on offering clear-label and organic agar products due to major trends involving indulgence, clear labels, and protein enrichment taking place in the food industry. Companies offering food grade agar are also adopting various strategies like asset purchases, mergers and acquisitions, joint ventures/collaborations, R&D efforts, investments, and new product launches to garner market dominance.
North America Agar Market Leaders
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Agarmex, S.A. de C.V.
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Hispanagar S.A.
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Gelita AG
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Merck KGaA
*Disclaimer: Major Players sorted in no particular order
North America Agar Market Report - Table of Contents
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1. INTRODUCTION
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1.1 Study Assumptions and Market Definition
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1.2 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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4. MARKET DYNAMICS
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4.1 Market Drivers
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4.2 Market Restraints
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4.3 Industry Attractiveness - Porter's Five Forces Analysis
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4.3.1 Threat of New Entrants
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4.3.2 Bargaining Power of Buyers/Consumers
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4.3.3 Bargaining Power of Suppliers
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4.3.4 Threat of Substitute Products
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4.3.5 Intensity of Competitive Rivalry
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5. MARKET SEGMENTATION
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5.1 Form
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5.1.1 Strip
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5.1.2 Powder
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5.1.3 Others
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5.2 Application
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5.2.1 Food and Beverage
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5.2.1.1 Bakery & Confectionary
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5.2.1.2 Beverage
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5.2.1.3 Meat Products
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5.2.1.4 Dairy Products
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5.2.1.5 Other Food and Beverages
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5.2.2 Pharmaceuticals
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5.2.3 Other Applications
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5.3 Geography
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5.3.1 United States
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5.3.2 Canada
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5.3.3 Mexico
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5.3.4 Rest of North America
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6. COMPETITIVE LANDSCAPE
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6.1 Most Adopted Strategies
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6.2 Market Position Analysis
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6.3 Company Profiles
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6.3.1 Agarmex, S.A. de C.V.
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6.3.2 Industrias Roko S.A.
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6.3.3 Hispanagar S.A.
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6.3.4 Gelita AG
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6.3.5 Norevo GMBH
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6.3.6 Ingredion Incorporated
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6.3.7 Merck KGaA
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- *List Not Exhaustive
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
North America Agar Industry Segmentation
North America agar market is segmented by form into strip, powder, and others. Additionally, the study focusses on the revenues generated through food and beverages, pharmaceuticals, and other applications. By geography, the market covers country-level analysis of developed economies like the United States, Canada, and Mexico.
| Form | |
| Strip | |
| Powder | |
| Others |
| Application | |||||||
| |||||||
| Pharmaceuticals | |||||||
| Other Applications |
| Geography | |
| United States | |
| Canada | |
| Mexico | |
| Rest of North America |
North America Agar Market Research FAQs
What is the current North America Agar Market size?
The North America Agar Market is projected to register a CAGR of 4.61% during the forecast period (2024-2029)
Who are the key players in North America Agar Market?
Agarmex, S.A. de C.V., Hispanagar S.A. , Gelita AG and Merck KGaA are the major companies operating in the North America Agar Market.
What years does this North America Agar Market cover?
The report covers the North America Agar Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the North America Agar Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Agar in North America Industry Report
Statistics for the 2024 Agar in North America market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Agar in North America analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
