Release Agents Market by Ingredient (Emulsifiers, Vegetable Oils, Wax & Wax Esters, and Antioxidants), Application (Bakery, Confectionery, Processed Meat, and Convenience Food), Form (Liquid and Solid), Function, and Region - Global Forecast to 2023
“The release agents market is projected to grow at a CAGR of 4.1%.”
The release agents market is estimated at USD 925.4 million in 2018, and projected to grow at a CAGR of 4.1%, to reach USD 1,131.3 million by 2023. The market is primarily driven by the rise in demand for baked goods. Changing lifestyles and increasing health awareness are the main reasons for the increasing demand for baked foods such as breads, pastries, cakes, and biscuits. Convenience stores have reported that consumers prefer bakery products over meat and other packaged foods. Donuts, specialty breads, pizzas, and gourmet foods are among the fastest-growing product categories. This growing demand for bakery products has resulted in increased demand for bakery aids such as release agents. Asia Pacific is projected to be the fastest-growing regional market. Asian countries, especially China, have emerged as leading destinations, thereby facilitating the market shift from developed economies to developing economies. One of the major restraints in the growth of the release agents market is the international regulations governing the use of release agents in food.
“The liquid form estimated to lead the market with the largest share in 2018.”
On the basis of form, the release agents market was led by the liquid segment. Liquid agents are preferred across the globe due to their ease of use and reduction of the cost of cleaning and labor in the food processing industries; hence, the market for the liquid segment is estimated to account for the larger share in 2018.
“Vegetable oil release agents are estimated to account for the largest share in 2018.”
Based on the ingredient, the vegetable oil segment is estimated to account for the largest share in the release agents market in 2018. In the food industry, the trend of using release agents such as vegetable oils, which contain natural ingredients, is rising, particularly in developed regions. Vegetable oils and emulsifiers are the two dominant segments in the global release agents market due to their superior releasing properties and easy availability.
“Bakery is estimated to be the fastest-growing application of release agents.”
Based on the application, the bakery segment is projected to be the fastest-growing during the forecast period. This segment is rapidly growing mainly due to the increasing demand for convenience food, in which release agents are considered as food additives. In the food industry, the demand for bakery food products is growing due to changing lifestyles and eating habits.
“High growth is expected in the Asia Pacific release agents market.”
Asia Pacific is projected to be the fastest-growing market for the period considered for this study, due to the rise in disposable income and increase in demand for convenience & processed food, along with the growing industrial base, leading to increased demand for release agents in the region. In addition, the market is driven by the growing demand for bakery and meat food products in developing countries such as India, China, Indonesia, and Thailand.
Break-up of Primaries:
By Company Type: Tier 1 – 35 %, Tier 2 – 45%, and Tier 3 – 20%
By Designation: C Level – 35%, D Level – 25%, and Others* – 40%
By Region: North America – 20%, Europe –25%, Asia Pacific – 40%, and RoW – 15%,
*Others include sales managers, marketing managers, and product managers.
Leading players profiled in this report:
Archer Daniels Midland Company (US)
AAK AB (Sweden)
Avatar Corporation (US)
Par-Way Tryson (US)
Associated British Foods (UK)
Koninklijke Zeelandia Group B.V. (Netherlands)
DÜBÖR Groneweg GmbH & Co. KG (Germany)
Mallet & Company, Inc. (US)
IFC Solutions, Inc. (US)
Masterol Foods Pty Ltd (US)
The report segments the release agents on the basis of form, ingredient, application, and region. In terms of insights, this report has focused on various levels of analyses—competitive landscape, end-use analysis, and company profiles—which together comprise and discuss views on the emerging & high-growth segments of the global release agents, high-growth regions, countries, government initiatives, drivers, restraints, opportunities, and challenges.
Reasons to buy this report:
To get a comprehensive overview of the release agents
To gain wide-ranging information about the top players in this industry, their product portfolios, and key strategies adopted by them
To gain insights about the major countries/regions in which the release agents are flourishing