MEA Agar Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 5.50 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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MEA Agar Market Analysis
The Middle East and Africa agar market is projected to grow at a CAGR of 5.5% during the forecast period (2020 - 2025).
- The strong growth in the seaweed industry of the Middle Eastern and African countries such as South Africa has resulted in increasing production of agar for various end-user industries. The end-user industries primarily food and beverage started treating agar as an important culinary ingredient as it acts as a substitute for gelatin and can be used as a thickener in soup, fruit preserves, ice cream, and other products.
- Furthermore, agar being tasteless is a perfect ingredient in the food industry as it does not interfere with the flavor of the food produced, making it suitable for a wide range of food and beverage products.
- The cost-effectiveness of agar as compared to gelatine is also one of the major factors which has triggered the growth of agar market in the region and is expected to continue gaining momentum during the forecast period.
MEA Agar Market Trends
This section covers the major market trends shaping the Middle East Africa Agar Market according to our research experts:
Nutritional Atrritube of Agar Leading to Increased Application in Food and Beverage Sector
The increasing consumer awareness about the nutritional benefits of agar has strongly driven its demand in the food and beverage sector of the region at a faster pace. Apart from its nutritional benefits agar is used as a stabilizer and gelling agent in bakery products, water gels, confectionery, dairy products, canned meat, and fish products, soups, and sauces, and beverages. Agar being a source of calcium and iron, manufacturers are using it for fortification in various functional food and beverages to capture the interest of health-conscious consumers in the region. Furthermore, the country's retail food and beverage industry are increasing at a faster pace, which in turning is driving the application of agar extensively.
South Africa Holds a Significant Share
The South African seaweed aquaculture industry has grown rapidly over the past few years, which is one of the major factors driving the agar market in the country. Increasing demand for natural ingredients coupled with a rising inclination of consumers towards vegan/vegetarian products are factors supporting the growth of the South African agar market. The increasingly health-conscious populace is showing more inclination toward healthier substitutes in the country.
MEA Agar Industry Overview
The Middle East and Africa market is highly fragmented due to the presence of numerous domestic as well as foreign players in the region. New product development and capacity expansion are the two key success strategies adhered to by market participants. Some of the major players in the Middle East and Africa agar market, include Merck KGaA, HISPANAGAR, Norevo GmbH, Ingredion Incorporated (TIC Gums), Gelita AG, among others.
MEA Agar Market Leaders
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Norevo GmbH
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Ingredion Incorporated (TIC Gums)
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Merck KGaA
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HISPANAGAR
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Gelita AG
*Disclaimer: Major Players sorted in no particular order
MEA Agar Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Deliverables and Study Assumptions
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Drivers
- 4.2 Market Restraints
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4.3 Porter's Five Forces Analysis
- 4.3.1 Threat of New Entrants
- 4.3.2 Bargaining Power of Buyers/Consumers
- 4.3.3 Bargaining Power of Suppliers
- 4.3.4 Threat of Substitute Products
- 4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
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5.1 By Form
- 5.1.1 Strip
- 5.1.2 Powder
- 5.1.3 Others
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5.2 By Application
- 5.2.1 Food and Beverage
- 5.2.1.1 Bakery & Confectionary
- 5.2.1.2 Beverage
- 5.2.1.3 Meat Products
- 5.2.1.4 Dairy Products
- 5.2.1.5 Others
- 5.2.2 Pharmaceuticals
- 5.2.3 Other Applications
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5.3 By Geography
- 5.3.1 South Africa
- 5.3.2 Saudi Arabia
- 5.3.3 Rest of Middle East and Africa
6. COMPETITIVE LANDSCAPE
- 6.1 Most Active Companies
- 6.2 Market Position Analysis
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6.3 Company Profiles
- 6.3.1 Norevo GmbH
- 6.3.2 Ingredion Incorporated (TIC Gums)
- 6.3.3 Agramex S.A.
- 6.3.4 Merck KGaA
- 6.3.5 HISPANAGAR
- 6.3.6 Polygal AG
- 6.3.7 Gelita AG
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
MEA Agar Industry Segmentation
The Middle East and Africa agar market is segmented by form and application. Based on form, the market is segmented into strip, powder, others. Based on the application, the market is segmented into food and beverage, pharmaceuticals, other applications. The food and beverage segment is further classified into meat products, bakery, confectionery, snacks/instant noodles, dairy, beverage, other food, and beverages. Based on geography, the study provides an analysis of the agar market in South Africa, Saudi Arabia, and the Rest of the Middle East and Africa.
| By Form | Strip | |
| Powder | ||
| Others | ||
| By Application | Food and Beverage | Bakery & Confectionary |
| Beverage | ||
| Meat Products | ||
| Dairy Products | ||
| Others | ||
| By Application | Pharmaceuticals | |
| Other Applications | ||
| By Geography | South Africa | |
| Saudi Arabia | ||
| Rest of Middle East and Africa |
MEA Agar Market Research FAQs
What is the current Middle East and Africa Agar Market size?
The Middle East and Africa Agar Market is projected to register a CAGR of 5.5% during the forecast period (2024-2029)
Who are the key players in Middle East and Africa Agar Market?
Norevo GmbH, Ingredion Incorporated (TIC Gums), Merck KGaA, HISPANAGAR and Gelita AG are the major companies operating in the Middle East and Africa Agar Market.
What years does this Middle East and Africa Agar Market cover?
The report covers the Middle East and Africa Agar Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Middle East and Africa Agar Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
MEA Agar Industry Report
Statistics for the 2024 MEA Agar market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. MEA Agar analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
