Industrial use, rising demand for confectionaries, need for convenience foods, business expansions are main drivers of the food glazing agents market.
Market Size – USD 2.76 Billion in 2018, Market Growth – CAGR of 8.8%, Market Trends – Scarcity of raw material is a major restraint for the food glazing agents market.
According to the current analysis of Reports and Data, the food glazing agents Market were valued at USD 2.76 Billion in 2018 and are expected to reach USD 4.11 Billion by the year 2026, at a CAGR of 8.8%%. Food additives are combined with foods to serve specific industrial purposes. They’re categorizedlooking onthe aimthey provide when added to foods, e.g., stabilizers, thickeners, gelling agents, anti-caking agents, glazing agents, packaging gases, and propellants. Glazing agents in food applications are majorly accustomed to give coating ability, film-forming, and binding capability withan elegant appetizing visual appeal. Food glazing agents are primarily utilized in the confectionery industry significantly in hard-boiled candies as a coating and various other sort of candy. Food glazing agents are used on some foodlike donuts. Complications like political ambiguity, price variations in theinternational market, safety issues concerning the food quality, and technological improvement are limiting the market. Further, developing markets for the expansion of the food and beverage industry are analyzed to supply a holistic view of the market. The chief aspect driving the success of food glazing agents is due to aggregate demand for food glazing agents in end-use applications like bakery, confectionery, processed foods, functional food, and convenience foods.
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The key players within the market are Mantrose-Haeuser (U.S.), Capol (Germany), Strahl & Pitsch (U.S.), and Masterol Foods (Australia). The Riverside Company(United States), Masterol Foods, Wuhu Deli Foods Co., Ltd., Ningbo J&S Botanics Inccand Hainan Zhongxin Wanguo Chemical Co., Ltd. so as to expand the business and use the advantages of combined sales forces of the entities, expand sales of specialty ingredients to the food industry, RPM(Mantrose-Haeuser) Acquires Manufacturer of Food Stabilizers and Emulsifiers ,Profile Food Ingredients, LLC, a manufacturer of dry stabilizer and emulsifier blends for the food industry in 2019. It presents a natural type of specialty product formulations to be used in dairy products, food, beverages, confections, nutraceuticals, dips, dressings, and sauces. The company’s products are produced during a Safe Quality Food-certified facility. It encourages uniformity, enhances texture, thickens, prevents separation, and extends period or shelf-life and includes clean label, non-GMO, organic, and natural solutions
Further key findings from the report suggest
- By ingredient type, carnauba wax segment of Food glazing agents market is anticipated to grow at the highest rate of about 8.6% in terms of both value and volume, throughout the analysis period. This is accredited to the growing consumers’ demand for organic and vegan sources of food essences used in their foodstuffs.
- By ingredient function, coating agents’ segment of food glazing agents market dominated the market with a market share of 40.5% % in 2018. Shift in lifestyle has caused in an augmented demand for bakery products which are used in all categories of events. This is predictable to be the major propelling force for the increasing demand for these agents.
- By application, confectionery segment of Food glazing agents market has dominated the market in 2018, accounting for 35.7% of the overall market revenue. The segment is predictable to gain a grip over the analysis period because of the increasing demand for customized confectionery and bakery products as per consumer necessities.
- By region, the Asia-Pacific is expected to be the fastest-growing region in Food glazing agents market with a CAGR of about 9.5%, owing to the continuous upsurge in demand for food glazing agents and due to the amplified demand from diverse end-use applications.
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Segments covered in the report:
This report forecasts revenue growth at a global, regional & country level, and provides an analysis of the market trends in each of the sub-segments from 2016 to 2026. For the purpose of this study, Reports and Data have segmented the Food glazing market on the basis of ingredient type, ingredient function, application and region:
By Ingredient Type (Revenue, USD Million; 2019-2026, and Volume Kilo Tons-2026)
- Stearic acid
- Carnauba wax
- Candelilla wax
- Paraffin wax
- Others (montan and lanolin wax)
By Ingredient Function (Revenue, USD Million; 2019-2026, and Volume Kilo Tons-2026)
- Coating agents
- Surface finishing agents
- Firming agents
- Film agents
- Others (binding agents and stabilizing agents)
By Application (Revenue, USD Million; 2019-2026, and Volume Kilo Tons-2026)
- Processed meat, poultry & fish
- Fruits & vegetables
- Functional foods
- Others (dairy products & convenience foods
Regional Outlook (Revenue, USD Million; 2019-2026, and Volume Kilo Tons-2026)
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia-Pacific
- Middle East & Africa
- Latin America
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Key Points Covered in the Report:
- Comprehensive analysis of latest and emerging trends influencing the growth of the market
- SWOT analysis of each major market player along with in-depth analysis of major market players with detailed portfolio of their products, production capacity, revenue estimation, and gross margin
- Market concentration, production and consumption ratio, demand & supply analysis, and import/export
- Strategic recommendations to the new entrants as well as established companies to make beneficial business decisions
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