Food Glazing Agents Market Outlook 2031:
The global food glazing agents market size was valued at USD 4.04 Billion in 2022 and is projected to reach USD 8.63 Billion by 2031, expanding at a CAGR of 8.8% during the forecast period 2023 - 2031. The growth of the market is attributed to the rapid growth of urbanization and increasing number of educated customers.
A food glazing agent is a material that is applied to the surface of food as a sticky coating to prevent water loss. This type of agent provides a shine on the surface of foods such as sweet or citrus fruit and confers a protective coating on the surface. They are commonly used to create a coating on the surface of different sweets. They are made from both natural and artificial sources. Food glazing agents come in a variety of forms, including beeswax, stearic acid, and carnauba wax, among others.
Food Glazing Agents Market Trends, Drivers, Restraints and Opportunities
- The food industry's rapid expansion as well as growing demand for organic and nutritious food items, are projected to fuel the market growth during the forecast period.
- Increasing production of confectionary and bakery food products along with rising consumer income is expected to drive the overall market expansion.
- Growing demand for personalized food items is expected to drive market growth in the coming years.
- Strict regulations on food additives, as well as raw material price fluctuations, are expected to hinder market growth in the coming years
- Lack of raw material availability and customer awareness can positively influence the growth of the market.
- Increasing R&D expenditure in novel food items is likely to provide remunerative opportunities for market development throughout the forecast period.
Scope of Food Glazing Agents Market Report
The report on the global food glazing agents market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Food Glazing Agents Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Types (Candelilla Wax, Carnauba Wax, Stearic Acid, Beeswax, Shellac, and Others), Applications (Confectionery, Processed Meat, Bakery, Poultry and Seafood, Fruits & Vegetables, and Others)
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report
Freudenberg Chemical Specialities SE & Co. KG; Mantrose-Haeuser Co., Inc.; Masterol Foods; Colorcon; and Puratos
Food Glazing Agents Market Segment Insights
Candelilla wax segment is projected to expand at a considerable CAGR
On the basis of types, the market is segregated into candelilla wax, carnauba wax, stearic acid, beeswax, shellac, and others.
The candelilla wax segment is projected to expand at a considerable CAGR during the forecast period due to increasing customer demand for various food products. On the other hand, the beeswax segment is anticipated to account for a major market share during the forecast period. Food additive consumption is anticipated to rise due to demand for organic and vegan meals.
Bakery segment is estimated to account for a significant market share.
Based on applications, the global food glazing agent market is divided into confectionery, processed meat, bakery, poultry and seafood, fruits & vegetables, and others.
The bakery segment is predicted to account for a significant market share during the forecast period. Growing demand for bakery products and convenience is driving the market segment gowth.
Europe is anticipated to constitute a key market share
In terms of regions, the global food glazing agent market is categorized as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa.
The market of Europe is expected to constitute a key share of the market during the projected period owing to high demand for chocolate and bakery products. However, Asia Pacific is anticipated to expand at a rapid pace during the forecast period. The presence of emerging countries such as India and China is propelling the regional market growth.
The global food glazing agent market has been segmented on the basis of
- Candelilla Wax
- Carnauba Wax
- Stearic Acid
- Processed Meat
- Poultry and Seafood
- Fruits & Vegetables
- Asia Pacific
- North America
- Latin America
- Middle East & Africa
The key players competing in the global food glazing agent market are Freudenberg Chemical Specialities SE & Co. KG; Mantrose-Haeuser Co., Inc.; Masterol Foods; Colorcon, and Puratos.
Companies are engaging in partnerships, acquisitions, and mergers to expand their market share. Moreover, they’re focusing on expanding their production capacities to leverage their market position.
Key players are partnering with local manufacturers and investing in R&D activities to enhance the manufacturing process to reduce the operation costs.