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The global agar-agar gum market is anticipated to reach USD 345.3 million by 2025, according to a new report by Grand View Research, Inc. Shifting consumer preference towards animal-free products and popularity of dairy-based products to maintain healthy diets has resulted in significant market growth.
The industry is also responsible for employment generation especially for people dwelling in coastal villages where seaweed collection forms an important component of their income. The activity is crucial for rural women who do not actively participate in mainstream fishing.
Technological advancements have supported the industry as well, with the introduction of metal scrapers that may be utilized to harvest larger quantities of seaweed with less effort. Additionally, new methods & processes have been introduced to extract agar from seaweed along with other techniques for cleaning, pre-treatment, filtration & gelation, and dewatering.
Agar powders occupied over 90% of the volume share in 2015. Creative cooking methods have also paved new growth avenues for molecular gastronomy applications, with powdered gum being dissolved in boiling aqueous liquids to create unique dishes. Textured foods such as pearls and spaghetti gels, along with foamed products are important drivers for this segment.
Further key findings from the report suggest:
Global agar-agar gum market was estimated at 11,236.6 tons in 2015 and is anticipated to grow at an estimated CAGR of 3.6% from 2016 to 2025.
Squares are widely used to make confectionaries, bakery products, desserts and other food products in the form of cubes, since the product has the ideal firmness to hold perfect molds
Strips or bars have also been a great alternative for gelatin derived dairy-based products and are used by industrial manufacturers that are engaged in producing kosher, halal, vegan and vegetarian foodstuffs
Meat is expected to increase at about 4.1% CAGR in terms of volume. Agar fosters longer shelf life to frozen & processed meat products, while also improving stability while treating these products, which has led to segment growth.
Microbiological & molecular applications are expected to remain an important segment, since the product is widely used to stimulate bacterial development in Petro-dishes for laboratory experiments
Asia Pacific is presumed expand at the highest CAGR of 5.4% in terms of revenue. The product was originally claimed to be discovered in Tarazaemon Minoya, Japan and has become an important ingredient in the regional food industry in recent years.
Key industry participants consist of Myeong Shin Agar, Meron Group, Marine Science Co. Ltd., Indoalgas, Able Sales Company, Orient Resources Company and Central Drug House(P) Ltd.