The global export landscape of agar-agar sees China leading with a substantial share, followed by Spain and Morocco. While China experienced a 3.58% increase from the previous year, notable growth was observed in emerging players like Ukraine and Philippines with significant year-on-year increases of 8.63% and 13.07% respectively. Contrarily, countries like Australia and Finland observed declines of more than 20% in their export values, suggesting possible market challenges or reduced demand. Over the past five years, the compound annual growth rate (CAGR) indicates varying performances, with certain Western nations like the Netherlands experiencing growth, while others, like Japan, lagged slightly.
Future trends to watch for include:
- Increased competition from emerging markets potentially reshuffling the global export leader board.
- The impact of potential environmental regulations influencing production and exports in key exporting countries.
- Technological advancements in agar-agar production improving efficiency and expanding market reach.
- Shifts in consumer preferences towards plant-based food products, possibly increasing demand for agar-agar as a gelling agent globally.
Top countries in Export of Agar-Agar Share by Country (US Dollars)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 China | 34.24 | 2023 | +2.85% | +3.58% | View data |
| 2 | 2 Spain | 16.78 | 2023 | +3.01% | +3.79% | View data |
| 3 | 3 Morocco | 12.55 | 2023 | +2.4% | +1.93% | View data |
| 4 | 4 Chile | 9.43 | 2023 | -2.9% | -3.88% | View data |
| 5 | 5 Indonesia | 4.77 | 2023 | +1.85% | +0.087% | View data |
| 6 | 6 South Korea | 4.7 | 2023 | +1.25% | +0.59% | View data |
| 7 | 7 Germany | 4.07 | 2023 | +0.17% | +0.9% | View data |
| 8 | 8 United States | 2.04 | 2023 | +0.91% | +0.34% | View data |
| 9 | 9 Belgium | 1.16 | 2023 | +2.63% | +3.37% | View data |
| 10 | 10 United Kingdom | 1.12 | 2023 | +2.82% | +3.15% | View data |
