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Food Glazing Agents Market 2024 - By Analysis, Industry Trends, Growth And Forecast To 2033
Food Glazing Agents Market
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According to The Business Research Company's, The food glazing agents market size has grown strongly in recent years. It will grow from $4.47 billion in 2023 to $4.81 billion in 2024 at a compound annual growth rate (CAGR) of 7.8%. The growth in the historic period can be attributed to food preservation needs, increased bakery and confectionery production, shift in consumer preferences, globalization of food trade, regulatory compliance.
The food glazing agents market size is expected to see strong growth in the next few years. It will grow to $6.47 billion in 2028 at a compound annual growth rate (CAGR) of 7.7%. The growth in the forecast period can be attributed to growth in organic and natural foods, rising demand for plant-based products, innovation in sugar alternatives, expansion of premium chocolate market, sustainability and eco-friendly practices. Major trends in the forecast period include innovation in natural glazing ingredients, technological advancements, transparent and glossy finishes, advancements in sprayable glazing technologies, collaborations for product innovation.
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Market Drivers and Trends:
The increasing demand for convenience food is expected to propel the growth of food glazing agents market going forward. Convenience food refers to pre-packaged or processed food products that are quick and easy to prepare and require minimal cooking or effort, often designed for on-the-go or time-saving consumption. As consumers increasingly opt for ready-to-eat and ready-to-cook options due to busy lifestyles, food glazing agents play a vital role in enhancing the visual appeal, extending shelf life, and providing a smooth texture to these convenience products. The protective coating offered by glazing agents aligns with the packaging and processing of convenience foods, contributing to their marketability and acceptance. For instance, in March 2022, according to Food Export Association of the Midwest USA, a US-based non-profit organization, in 2021, U.S. exports of processed foods to India reached $259.7 million, marking a substantial increase of 70% compared to the previous year's figures. Therefore, the increasing demand for convenience food is driving the growth of food glazing agents market.
Product innovations are the key trend gaining popularity in the food glazing agents market. Major companies operating in the market are developing innovative products with characteristics such as organic, customized glazing agents and anti-sticking agents to sustain their position in the market. For instance, in November 2021, Capol GmbH, a Germany-based manufacturer of surface treatment products for the confectionery industry, developed a novel anti-sticking agent for gum*mies. Confectionery coatings based on rapeseed and sunflower oil, benefit from the formulation's long shelf life. The newly patented CAPOL formulation is based on sunflower oil and includes a tailored anti-oxidization system for long-term stability. It also has an impressive gloss appeal and excellent anti-sticking properties.
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Major Key Players of the Market:
Mantrose-Haeuser Co. Inc., Capol GmbH, Strahl & Pitsch Inc., Masterol Foods Pty. Ltd., The British Wax Refining Company Ltd., Stearinerie Dubois, Poth Hille & Co. Ltd., Koster Keunen Inc., BJ AGRICOM Pvt. Ltd., Avatar Corporation, Archer Daniels Midland Company, Colorcon Inc., Freudenberg Chemical Specialities SE & Co. KG, Macphie Ltd., Puratos Group NV, Döhler Group SE, Agrana Beteiligungs AG, Ningbo J&S Botanics Inc., Kerry Group plc, Royal Zeelandia Group BV, Wuhu Deli Foods Co. Ltd., Carnaúba do Brasil, Zeelandia International BV, Parker Ingredients LLC, Stroever GmbH & Co. KG, DuPont de Nemours Inc., Cargill Inc., Sensient Technologies Corporation, Bowman Ingredients Ltd., Kancor Ingredients Limited
Food Glazing Agents Market 2024 Key Insights:
• The food glazing agents market size is expected to see strong growth in the next few years. It will grow to $6.47 billion in 2028 at a compound annual growth rate (CAGR) of 7.7%.
• Rising Demand For Bakery And Confectionery Products To Drive Market Growth
• Product Innovations Transforming The Glazing Agents Market
• Asia-Pacific was the largest region in the food glazing agents market share in 2023
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