Food Glazing Agents Market is forecast to reach revenue of $4.97 Billion by 2025, growing at a CAGR of 9.57% during the forecast period 2020-2025. Growing consumer demand for the texture and appearance of foods and increasing consumer base for glazing agents in the food industry are a major factor driving the growth of the market. Choices of consumers towards better- and good-looking food in developing nations is estimated to further enhance the overall market demand of Food Glazing Agents Industry during the forecast period 2020-2025.
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Ingredient Function – Segment Analysis
Coating Agents holds major share in the ingredient function segment of Food Glazing Agents Market in 2019. Rising demand for customized confectionery products for different occasions and consumer requirements are attributed to the market growth of this segment. Filming Agents is projected to witness steady growth in the forecast period 2020-2025, owing to strengthening advantage of the structure of food so that it remains firm during processing. These agents are also used for other functions such as extending the product lifecycle.
Application – Segment Analysis
Based on Application types Food Glazing Agents Market is divided into Bakery, Confectionary, Processed meat, Poultry& Fish, Fruits & Vegetables, Functional Foods & Others. Confectionary is estimated to be the fastest growing with a CAGR of 4.3% owing to growth of confectionery industry which in turn increases the demand.
Geography – Segment Analysis
Europe dominates the geography segment of Food Glazing Agents Market with a share of more than 32%, followed by North America. Reasonable production cost and retail prices, along with high demand for confectionery & bakery application sectors and the good state funded regulations.
Asia-Pacific is estimated to continue growing at the fastest rate at a higher CAGR during the forecast period 2020-2025. This is owing to developing countries like China and India are anticipated to see reasonable consumer base for beeswax and paraffin wax.
Drivers – Food Glazing Agents Market
For instance, various products and applications of glazing agents and related products have found a considerable market consumer base. Stearic Acid is on the list, as it offers versatility, thickening, binding, stability and enhanced shelf life which makes them preferred in the personal care products usage. Beeswax has a number of applications including glazing agent which is used in food, specifically bakery and confectionaries. Paraffin wax and film formers have also become popular in recent years.
Functional foods have one or more physiological benefits and reduce the risk of chronic diseases beyond providing basic nutrition to human beings. In recent years, rise of customer base of functional foods is seen in major regions of the world. People are fascinated by the new type of glazed products available in the market. Paraffin wax and film formers are also becoming widely popular.
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Challenges – Food Glazing Agents Market
Customer expectations in recent times have increased. In recent times, stringent government regulations have also reduced the margins of profit for the stakeholders. This is forecast to hamper the market growth during the forecast period 2020-2025.
Food Glazing Agents Industry Outlook
Product launches, mergers and acquisitions, joint ventures and R&D activities are key strategies adopted by players in the Food Glazing Agents Market. In 2019, Food Glazing Agents Market share is consolidated by the top players present in the market. Food Glazing Agents Market top 10 companies are BJ International, British Wax, Capol GmbH, Carnauba Do Brasil LTDA, Koster Keunen, Masterol Foods, Poth Hille, Stearinerie Dubois, Strahl & Pitsch and Orkla among others.
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