Food Glazing Agents Market 2023 – 2030 By Application (Bakery, Confectionery, Fruits & Vegetables, Functional Foods), Ingredient Type (Stearic Acid, Beeswax, Carnauba Wax, Candelilla Wax, Shellac, Paraffin Wax), Ingredient Function- Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional Footprints by MarketDigits
Industry : FMCG | Pages : 176 Pages | Published On : Jul 2023
The market for food glazing agents reached a value of USD 2.27 Billion in 2022 and is expected to reach USD 3.74 Billion by 2021, with a compound annual growth rate (CAGR) of 8.8% from 2016. The market has been segmented based on ingredient type, ingredient function, application, and region.
The study considers the following years:
• Base year: 2022
• Estimated year: 2023
• Projected year: 2030
• Forecast period: 2023 to 2030
The objectives of this study are as follows:
• To define, segment, and project the global market size for food glazing agents.
• To understand the market structure by identifying its various subsegments.
• To provide detailed information about the key factors influencing market growth, including drivers, restraints, opportunities, and industry-specific challenges.
• To analyze the market opportunities for stakeholders and provide a competitive landscape of market trends.
This report estimates the market size in terms of value (USD million). Both top-down and bottom-up approaches have been used to estimate and validate the size of the food glazing agents market, as well as various other dependent submarkets in the overall market. Key players in the market have been identified through secondary research using sources such as Hoovers, Forbes, Bloomberg Businessweek, company websites, annual reports, and their market share in respective regions has been determined through primary and secondary research. All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
Key players in the market include Mantrose-Haeuser (U.S.), Capol (Germany), Strahl & Pitsch (U.S.), and Masterol Foods (Australia).
• Manufacturers of food glazing agents
• Research institutions
• Raw material suppliers
• Government bodies
• End users in the food industry
Based on Ingredient Type, the market has been segmented as follows:
• Stearic acid
• Carnauba wax
• Candelilla wax
• Paraffin wax
• Others (montan and lanolin wax)
Based on Ingredient Function, the market has been segmented as follows:
• Coating agents
• Surface finishing agents
• Firming agents
• Film agents
• Others (binding agents and stabilizing agents)
Based on Application, the market has been segmented as follows:
• Processed meat, poultry & fish
• Fruits & vegetables
• Functional foods
• Others (dairy products & convenience foods
Based on Region, the market has been segmented as follows:
• North America
• Asia Pacific
• RoW (South Africa and Brazil)
A detailed comparison of the product portfolio of each company is provided through a product matrix.
The Rest of Europe food glazing agents market is further broken down into Greece, Spain, and the Netherlands.
The Rest of Asia-Pacific food glazing agents market is further segmented into South Korea, Indonesia, and Malaysia.
The RoW food glazing agents market is further divided into Chile, Argentina, and Middle Eastern countries.
Additional market players (up to two) are analyzed and profiled in detail.
The market for food glazing agents is expected to reach USD 3.74 Billion by 2021, growing at a CAGR of about 8.8% from 2016 to 2021. This growth is driven by consumer interest in the appearance and texture of food and the expanding applications of glazing agents in the food industry. The bakery and confectionery industry's global growth has led to widespread adoption of food glazing agents in various applications.
The global market is segmented based on ingredient type, including stearic acid, beeswax, carnauba wax, candelilla wax, shellac, paraffin wax, and others. The carnauba wax segment is projected to grow at the highest rate in terms of value and volume, fueled by increasing consumer demand for vegan and organic food additives.
Based on ingredient function, the market is segmented into coating agents, surface-finishing agents, firming agents, film-formers, and others. The application segment includes bakery, confectionery, processed meat, poultry & fish, fruits & vegetables, functional foods, and others. The functional foods segment is expected to experience the highest growth rate due to its overall development and health benefits. The confectionery segment currently dominates the food glazing agents market, driven by the growth of the confectionery industry.
Geographically, Europe leads the global food glazing agents market in terms of value in 2022, owing to the well-developed food processing industry in the region. The Asia-Pacific region is projected to be the fastest-growing market in terms of volume, driven by increasing demand from various end-use applications.
The market faces challenges such as increasing raw material costs, but the demand from the food and beverage industry, coupled with the versatility of food glazing agents, continues to drive its growth.
The global market is competitive and fragmented, with numerous players operating at regional and local levels. Key players such as Mantrose-Haeuser Co., Inc. (U.S.), Capol GmbH (Germany), Strahl & Pitsch, Inc. (U.S.), and Masterol Foods (Australia) have been profiled in the report. These companies have adopted new product launches as their preferred growth strategy.
Table and Figures
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