In 2023, China dominated global agar-agar exports with a 49.99% share, though it experienced a slight decline of 1.68% year-on-year. Spain held the second-largest share at 28.31%, with a modest increase of 1.42%. Germany and Indonesia followed with a 5.76% and a negligible decline of 0.0038% respectively. Notable growth was seen in smaller markets: the Philippines surged by 87.39%, and Bangladesh grew by 68.24%. Conversely, Malaysia dropped significantly by 23.82%.
Future trends to watch include the potential for continuous growth in Asia with China maintaining a leading position, despite overall slower growth. Emerging markets like the Philippines and Bangladesh may witness increasing shares, driven by localized production enhancements.
Top countries in Agar-Agar Exports Share by Country (US Dollars)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 China | 49.99 | 2023 | +3.98% | -1.68% | View data |
| 2 | 2 Spain | 28.31 | 2023 | +2.36% | +1.42% | View data |
| 3 | 3 Germany | 9.93 | 2023 | +6.01% | +5.76% | View data |
| 4 | 4 Indonesia | 8.99 | 2023 | +2.23% | -0.0038% | View data |
| 5 | 5 United States | 2.75 | 2023 | -0.4% | -0.66% | View data |
| 6 | 6 Mexico | 1.39 | 2023 | +0.73% | +1.91% | View data |
| 7 | 7 France | 1.16 | 2023 | +5.29% | -3.67% | View data |
| 8 | 8 Thailand | 1.15 | 2023 | +3.38% | +3.3% | View data |
| 9 | 9 Switzerland | 0.66 | 2023 | -0.17% | -2.77% | View data |
| 10 | 10 Austria | 0.42 | 2023 | +3.01% | +6.99% | View data |
