Food Glazing Agents Market Overview:
Increasing Use of Food Glazing Agents in Bakery and Confectionery Products Drives the Growth of Global Food Glazing Agents Market
According to Market Research Future (MRFR), The Food Glazing Agents Market to reach USD 9.47 billion by 2032 registering a CAGR of 5.40% during the forecast period of 2023–2032. The report offers a detailed review of COVID-19 impact on current/future market situations. The report also highlights some of the key market factors that will affect the growth of this sector, such as market share, leading region, and major suppliers.
Food glazing agents are food ingredients or additives, also referred to as food polishing agents, which are applied over food items to give a polished, glossy and protective coating to food, especially bakery and confectionery products and vegetables and fruits. Food glazing agents are made from both artificial and natural sources. Food glazing agents are ingredients used in a variety of food and beverage applications, such as dairy products, frozen desserts, bakery & confectionery, drinks, meat, poultry & seafood, fruit & vegetables, and dietary supplements.
Market Dynamics:
Increasing demand for processed meat, fish and poultry, and functional foods is estimated to expand overall demand. Increasing the use of food glazing agents in bakery and confectionery products, given the growing preference for customized food items, is expected to influence the demand of the industry in the near future. In addition, the growing demand for organic and vegan food is expected to boost demand for food additives, which, in effect, will promote the growth of the Food Glazing Agents Market.
Segmentation:
The global Food Glazing Agents Market has been segmented based on ingredient type, function, application, and region.
By ingredient type, the global market for food glazing agents has been classified as candelilla wax, stearic acid, paraffin wax, beeswax, carnauba wax, shellac, and others. Carnauba wax was the dominant type of ingredient in the recent past. Due to its extensive use in the preparation of glazing agents used in confectionery and bakery applications. Among other ingredients, stearic acid has also contributed significant revenue to the market for food glazing agents in the recent past. Paraffin wax has demonstrated considerable market size in the recent past. The growing application of paraffin wax in the packaging, cosmetics, and candle industries is expected to boost demand for this type of ingredient segment.
Based on function, the global market for food glazing agents has been segregated as coating agents, firming agents, surface-finishing agents film formers, and others.
Based on the application, the global market for food glazing agents has been segregated into bakery, confectionery, fruits & vegetables, meat, poultry & seafood, dietary supplements, and others. The confectionery segment has led the overall market in the recent past and is expected to show a substantial growth rate in the near future. Increased consumption of canned fruits and vegetables and canned seafood is expected to pose growth opportunities for the demand for food glazing agents.
Key Players:
Some of the significant participants in the global Key Food Glazing Agents Market players are Strahl & Pitsch (US), Capol GmbH (Germany), Mantrose-Haeuser Co., Inc. (US), Masterol Foods (Australia), Stéarinerie Dubois (France), The British Wax Refining Company Ltd (UK), BJ International (India), Macphie Limited (UK), Carnaúba Do Brasil LTDA (Brazil), Poth Hille & Co Ltd (UK), Fine Zeelandia Pvt Ltd (India), Koster Keunen, Inc. (US), Avatar Corporation (US).
Regional Analysis:
The global Food Glazing Agents Market has been studied concerning four key regions—North America, Europe, Asia Pacific, and the rest of the world.
In 2018, the North American market for food glazing agents gained the largest revenue share due to the high demand for food glazing agents in a variety of food products to improve their appearance. The US and Canada are major country-level markets that contribute to the growth of the North American market for food glazing agents.
However, the Asia Pacific is expected to have the highest CAGR in the forecast period 2019-2024 due to the increasing growth of market players in the region and the growth of application industries in the Asia Pacific.
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