Product
Agar Agar Price Trends and Forecast
Agar Agar Price Trends and Forecast
Regional Price Trend
Get the latest insights on price movement and trend analysis of Agar Agar in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).
Agar Agar Price Trends for the July-September of 2023
Asia
In the Asia Pacific countries, the agar agar price trends traced a downward trajectory due to a number of factors. The most significant of them was the slowing down of the momentum of downstream industries and falling economic indicators.
In addition to this, the Asian currency performed poorly as compared to the US dollar, which further accelerated the downfall of the agar agar price trends. However, towards the end of this quarter, a slim hope of improving market sentiments was seen on account of a moderate rise in demand from the manufacturing sector.
Europe
A fluctuating trend in the prices of agar agar was a result of depreciating market sentiments in the European countries. In addition to this, the number of new orders and demand for agar agar declined by several folds in the region, resulting in the initial downfall of the agar agar price trends.
However, as the quarter progressed, the demand dynamics from the pharmaceutical and healthcare industries started to improve and thus contributed to the rise in the prices of agar agar. This positive outlook of the market helped in the growth of consumer confidence and their spending appetite, supporting the inclining trend of agar agar prices.
North America
In the third quarter, the fall in the number of inquiries, sales numbers, and skyrocketing rates of inflation resulted in a decline in the price trends of agar agar. To curb the problem of inflation and to keep the economy afloat, the banks had to increase their interest rates, which, in turn, had an adverse effect on the overall sentiments of agar agar market. But soon, as seen in the Asia Pacific and European countries, the prices of agar agar started to improve. In view of the shortage of supply, increasing prices of oil and poor trading activities helped in the northward movement of agar agar prices.
Analyst Insight
According to Procurement Resource, the price trend of agar agar is expected to rise with the support of the rising interest of end-user industries.
Agar Agar Price Trends for the First Half of 2023
Asia
In the first quarter of 2023, the price trend of agar agar was affected by the rising uncertainties in the feedstock market. The initial months of the first quarter were not favorable for agar agar prices as the market witnessed a decline in demand and the negative effect of the rising level of inventories. However, in the last phase of the first quarter and throughout the second quarter, the price trend inclined consistently.
During this phase, the demand from downstream industries in both domestic and international sectors and the reduction in the level of inventories supported the agar agar market activities. The uncertain economic conditions of the market led Asia-Pacific countries to slow down their production rates, thus causing the level of inventories to decline.
Europe
In the first quarter, the ongoing Russia-Ukraine conflict and ups and downs in demand from the downstream industries contributed to high uncertainty in the price trend of agar agar. However, the second quarter proved to be favorable for the rise in the prices of agar agar.
The major driver of agar agar demand was the food and beverages sector. This spike in demand in the European countries was not countered by the existing level of inventories that supported the rise in the price trend of agar agar. In addition to this, the economic activities of the region also improved, exerting a positive influence on agar agar prices.
North America
The first quarter of 2023 was affected by the negative impact of the global pandemic and the reduction in sales of downstream businesses. However, the decline was short-lived, and from the second month of the first quarter throughout the second quarter, the price trend of agar agar inclined. It was supported by restricted supply, high rates of procurement from food and beverage industries, and inflation in fuel and food prices.
Analyst Insight
According to Procurement Resource, the price trend of Agar Agar is expected to showcase a mixed trajectory as the trend seems to be supported by the rise in demand from the downstream industries but the rising rates of inflation still prove to be a persistent challenge.
Procurement Resource provides latest prices of Agar Agar. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.
About
Agar-agar is extracted from red algae and is widely employed in the food industry. It is gelatinous in nature with no odor or color. In the food industry it functions as a thickening agent in the production of desserts, jellies, and confectionery items. In addition to this, it is also used in microbiology as a substrate for bacterial and fungal cultures as it remains as a stable gel at a wide range of temperatures.
Product Details
| Report Features | Details |
| Product Name | Agar Agar |
| Chemical formula | C14H24O9 |
| Industrial Uses | Pharmaceuticals, Dentistry, Cosmetics, Textile, Food Industry |
| CAS Number | 9002-18-0 |
| Molecular weight | 336.33 g/mol |
| HS Code | 13023100 |
| Supplier Database | Neogen Food Safety, HISPANAGAR, AGARMEX, S.A., INDUSTRIAS ROKO S.A. |
| Region/Countries Covered | Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Iran, Thailand, South Korea, Iraq, Saudi Arabia, Malaysia, Nepal, Taiwan, Sri Lanka, UAE, Israel, Hongkong, Singapore, Oman, Kuwait, Qatar, Australia, and New Zealand Europe: Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece North America: United States and Canada Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru Africa: South Africa, Nigeria, Egypt, Algeria, Morocco |
| Currency | US$ (Data can also be provided in local currency) |
| Supplier Database Availability | Yes |
| Customization Scope | The report can be customized as per the requirements of the customer |
| Post-Sale Analyst Support | 360-degree analyst support after report delivery |
Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.
Production Processes
In the initial phase of production of agar-agar, the extract from seaweed is treated, filtered, gelled, de-watered, dried and grinded. The extract is then standardized to give the final product in the form of powder or flakes.
Methodology
The displayed pricing data is derived through weighted average purchase price, including contract and spot transactions at the specified locations unless otherwise stated. The information provided comes from the compilation and processing of commercial data officially reported for each nation (i.e. government agencies, external trade bodies, and industry publications).
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