Food Glazing Agents Market Expected to Reach $4,521.7 Million by 2030-Allied Market Research

According to a new report published by Allied Market Research, titled, “Food Glazing Agents Market by Product Type and Application: Global Opportunity Analysis and Industry Forecast, 2021–2030,” the global food glazing agents market size was valued at $2,987.8 million in 2020, and is projected to reach $4,521.7 million by 2030, registering a CAGR of 4.3% from 2021 to 2030.

Food glazing agent is a type of food additive, which is applied to the outer layer of the food to give them a shiny appearance along with a protective coating to foods. In addition, food glazing agent acts as a sealant to prevent moisture loss, improve structure, and act as a lubricant. From the past few years, rise has been witnessed in the demand for glazing agents in the bakery and confectionery industry, owing to their various functional attributes such as they act as a coating agent and enhance texture. Thus, increase has been witnessed in the demand for food glazing agents to prepare bakery & confectionery products using food glazing agents such as cakes, pastries, and chocolates to enhance their appearance and extend their shelf life. This, in turn, is driving the growth of the food glazing agents market in terms of value sales.

The outbreak of coronavirus has negatively impacted the food glazing industry along with all stages of supply chain and value chain. During the COVID-19 outbreak, declaration regarding the lockdown in various countries of the world affected the production of food & beverages sector. This, in turn, negatively impacted the food glazing agents market growth in terms of sales and revenue generation.

The global food glazing agents market is segmented into nature, product type, application, and region. By nature, the market is classified into organic and conventional. On the basis of product type, it is categorized into stearic acid, beeswax, candelilla wax, carnauba wax, shellac, and others. The applications covered in the study include bakery & confectionery; fruits & vegetables; processed meat, poultry, & fish; and others. Region wise, the market is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, Spain, Russia, and rest of Europe), Asia-Pacific (China, Japan, India, Australia & New Zealand, South Korea, ASEAN, and rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, South Africa, Argentina, and rest of LAMEA).

Key Findings Of The Study

• By nature, the conventional segment accounted for the highest share in 2020, growing at a CAGR of 3.9% from 2021 to 2030.
• On the basis of product type, the others segment was the major share contributor in 2020, registering a CAGR of 3.9% from 2021 to 2030.
• Depending on application, the bakery & confectionery garnered the highest market share in 2020, growing at a CAGR of 3.4% from 2021 to 2030.
• Region wise, Europe occupied the maximum share in the market in 2020, and is expected to dominate during the food glazing agents market forecast period.

Companies can operate their business in the highly competitive market by launching new products or updated versions of existing products. Agreement with major stakeholders is expected to be a key strategy to sustain in the market. In the recent past, many leading players opted partnership strategy to strengthen their foothold in the market. To understand the key food glazing agents market trends, strategies of leading players are analyzed in the report. Some of the key players in the food glazing agents market analysis include British Wax Refining Company Ltd., Capol GmbH, Colorcon, Koster Keunen, Mantrose-Haeuser Co., Inc., Masterol Foods, Poth Hille & Co., Ltd., Puratos, Stearinerie Dubois, and Strahl & Pitsch, Inc.