South America Agar-Agar market Forecast to 2028 – COVID-19 Impact and Analysis – by Form (Flakes, Powder, and Others) and Application (Food & Beverages, Pharmaceuticals & Nutraceuticals, and Others)

The South America Agar-Agar market value is expected to reach US$ 27,518.98 thousand by 2028 from US$ 19,484.19 thousand in 2021. The regional market is estimated to grow at a CAGR of 5.1% during 2021–2028.

The trend of veganism is growing rapidly in South America. People prefer food products containing ingredients sourced from plants due to increasing awareness regarding animal protection and environmental sustainability. According to data published by Veganuary, a nonprofit organization encouraging individuals to go vegan for the whole month of January, ~400,000 people in South America signed up for the Veganuary Campaign in 2020. Thus, with the growing trend of veganism and increasing demand for plant-based food products, the South America Agar-Agar market is expected to grow at a good CAGR during the forecast period.

South America Agar-Agar Revenue and Forecast to 2028 (US$ Thousand)

South America Agar-Agar Market Segmentation

The South America Agar-Agar market is segmented on the basis of form, application, and country. Based on form, the market is segmented into flask, powder, and others. The powder segment dominated the South America Agar-Agar market in 2020. Based on application, the South America Agar-Agar market is segmented into food & beverages, pharmaceutical & nutraceutical, and others. The food & beverages segment dominated the South America Agar-Agar market in 2020.Based on country, The South America Agar-Agar market segmented into Brazil, Argentina and Rest of South and Central America. The Brazil is dominated the South America Agar-Agar market in 2020.

Hugestone Enterprise CO.LTD, JUSTCHEM International, Meron Group, Pt Surya indoalgas and Rolands food are among the leading companies in the South America Agar-Agar market.

1. Hugestone Enterprise CO.LTD.
2. JUSTCHEM International.
3. Meron Group.
4. Pt Surya indoalgas.
5. Rolands food.

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