In the first quarter of 2023, the agar agar market in Asia faced uncertainty due to declining demand and rising inventories. However, a turnaround occurred in the latter part of the quarter and extended into the second quarter, driven by increased demand from domestic and international downstream industries. In Europe, the Russia-Ukraine conflict and fluctuating demand initially contributed to price uncertainty, but the second quarter saw a favorable rise in agar agar prices, primarily propelled by the food and beverage sector’s increased demand. North America experienced a brief first-quarter decline due to the pandemic’s effects but then witnessed an upward price trend driven by restricted supply, robust procurement from the food and beverage industries, and rising fuel and food costs.
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Definition
Agar agar is a natural gelling agent derived from seaweed, primarily red algae. It is widely used in the food and pharmaceutical industries. Its key properties include excellent gelling ability, even at low concentrations, and stability across a wide range of temperatures. Agar agar forms a gel when dissolved in hot water and solidifies as it cools. It is tasteless, odorless, and vegetarian-friendly, making it a popular alternative to animal-based gelatin. Additionally, agar agar is rich in fiber and has a reputation for its digestive health benefits.
Key Details About the Agar Agar Price Trend:
Procurement Resource does an in-depth analysis of the price trend to bring forth the monthly, quarterly, half-yearly, and yearly information on Agar Agar in its latest pricing dashboard. The detailed assessment deeply explores the facts about the product, price change over the weeks, months, and years, key players, industrial uses, and drivers propelling the market and price trends.
Each price record is linked to an easy-to-use graphing device dated back to 2014, which offers a series of functionalities; customization of price currencies and units and downloading of price information as Excel files that can be used offline.
The Agar Agar Price chart, including India Agar Agar price, USA Agar Agar price, pricing database, and analysis can prove valuable for procurement managers, directors, and decision-makers to build up their strongly backed-up strategic insights to attain progress and profitability in the business.
Industrial Uses Impacting the Agar Agar Price Trend:
Agar agar, derived from seaweed, finds numerous industrial applications. In the food industry, it serves as a natural gelling and thickening agent, commonly used in desserts, jams, jellies, and confectionery. Agar agar is also utilized in microbiology laboratories for bacterial culture and growth media preparation. In pharmaceuticals, it acts as a binder for tablets and capsules, aiding in drug formulation. Additionally, agar agar’s gel-forming properties are valuable in the production of cosmetics, particularly in skincare products like creams and lotions. It has applications in the textile industry for sizing fabrics and as a stabilizer in the preparation of photographic emulsions. Its versatility and natural origin make agar agar a valuable ingredient in various industrial sectors.
Key Players:
- Neogen Food Safety
- HISPANAGAR
- AGARMEX, S.A.
- INDUSTRIAS ROKO S.A.
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