As per the report published by Allied Market Research, the global food glazing agents market generated $2.98 billion in 2020, and is projected to reach $4.52 billion by 2030, registering a CAGR of 4.3% from 2021 to 2030.
Rise in demand for glazing agents in bakery and confectionery, growth of the food additives industry, and increase in applications of food glazing agents have boosted the growth of the global food glazing agents market. However, availability of counterfeit products hinders the market growth. On the contrary, rise in demand for organic food additives, increase in demand in emerging economies, and consumer awareness toward appearance and texture of food products are expected to unlock opportunities for the market players in the future.
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Covid-19 scenario:
- The Covid-19 pandemic negatively affected the market. The trade restrictions imposed by several countries severely impacted the global logistics and transportation sector.
- The prolonged lockdown disrupted the supply chain and increased the price of raw materials.
The report segments the global food glazing agents market on the basis of nature, product type, and region.
Based on nature, the organic segment is expected to portray the highest CAGR of 6.3% during the forecast period. However, the conventional segment held the largest share in 2020, contributing to more than four-fifths of the market.
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On the basis of product type, the carnauba wax segment is projected to manifest the highest CAGR of 5.9% during the forecast period. However, the stearic acid segment held the lion’s share in 2020, accounting for nearly one-fifth of the market.
The global food glazing agents market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across Europe dominated in 2020, holding nearly two-fifths of the market. However, the market across Asia-Pacific is projected to showcase the highest CAGR of 6.1% during the forecast period.
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The global food glazing agents market report includes an in-depth analysis of the prime market players such as 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.
About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.