Global Food Glazing Agents Market - Growth, Trends and Forecasts (2017 - 2022)
Food Glazing Agents Market
The market was valued at over USD XX billion in 2016 and is expected to reach USD XX billion by 2022, with a CAGR of XX% during the forecast period. Glazing agents play an important role in bakery and confectionery products. They add a protective coat and texture the food. Different kinds of glazing agents are used for different applications. They are produced naturally from plants or can also be produced artificially to serve the same purpose as natural products.
The market is significantly influenced by two broad factors - increase in the consumption of bakery and confectionery products and an increase in the awareness among consumers regarding different foods. Both these factors are particularly prominent in the case of European and South American countries. The rise of urbanized and high-income consumers in these regions are cited as major reasons for these factors. The consumers are more concerned towards attractiveness in bakery and confectionery products. These glazing agents are also used as protective coating for food.
On the other hand, the market faces few constraints, such as increasing regulations over the usage of glazing agents in foods and low availability of raw materials for the production of these agents. This, in turn, leads to the usage of synthetic glazing agents.
The market is segmented by the ingredient type, application and function. Ingredients type includes stearic acid, beeswax, candelilla wax, carnauba wax, shellac, paraffin, etc. The functions of glazing agents include their use as coating agents, surface-finishing agents, firming agents, film formers, etc. By application, the market is segmented into the bakery, confectionery, processed meat, poultry and fish, fruits & vegetables and functional food, etc., with the confectionery segment dominating the food glazing agents market. Carnauba wax has high production, regarding volume, while surface finishing agents occupy a significant share in the food glazing agents market.
Europe is an important region in the food glazing agents industry it leads the global industry, regarding revenue, due to the high prices and high demand for confectionery and bakery products. North America and Asia-Pacific also occupied significant market share in the recent years. Due to the presence of developing nations, such as India and China, Asia-Pacific is growing at a faster rate. South America represents a growing market, as nations, such as Argentina and Brazil, are gaining prominence as raw material exporters. Despite occupying a minor market share during the forecast period, Africa is expected to perform well in the future, as the nation is moving towards industrialization.
* Some Values in the graph may be randomized – actual data available on report purchase
The future potential of the food glazing sector lies in expanding the present scope of the market, to include more types of products and new geographic destinations. Several regions, such as India, Brazil and South Africa, are being modernized and tend to prefer foods that use glazing agents. This is expected to open several opportunities in these industrializing countries.
Investment in food glazing agents R&D leads to the identification of low-cost solutions, which is considered crucial in expanding the present range of the market, as the raw materials for glazing agents’ production are of high-cost. Many new products are witnessing rapid growth, owing to development.
Key Deliverables in the Study
Market analysis for the global food glazing agents market, with region-specific assessments and competition analysis on global and regional scales.
Market definition along with the identification of key drivers and restraints.
Identification of factors instrumental in changing the market scenario, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale.
Extensively researched competitive landscape section with profiles of major companies along with their market share.
Identification and analysis of the macro and micro factors that affect the global food glazing agents market on, both, global and regional scale.
A comprehensive list of key market players, along with the analysis of their current strategic interests and key financial information.
A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market.
Insights on the major countries/regions where this industry is growing, and identify the regions that are still untapped.