The global food glazing agents market size is set to grow at an impressive rate on account of rising demand for meat products across the globe, shares Fortune Business Insights™ in its report, titled “Food Glazing Agents Market Size, Share & Industry Analysis, By Type (Beeswax, Shellac, Carnauba Wax, Candelilla Wax, Paraffin Wax, Stearic Acid), By Application (Bakery Products, Confectionery Products, Processed Meat & Poultry, Fruits & Vegetables, Functional Foods, Others) Others and Regional Forecast, 2022-2029”. The World Health Organization (WHO) projects that the global meat production will reach 376 million tons by 2030 to meet the escalating demand for animal products stemming from rising incomes, high population growth, and rapid urbanization. Meat glazing products are, therefore, likely to experience surging demand as consumer preference shifts toward premium meat products, which require superior coatings to maintain their sheen. Besides appearance, glazing can also help in retaining freshness of the food product as well as protect the foodstuff from coming contact with the outside packaging material. Thus, these benefits will stoke the demand for glazing agents and drive the food glazing agents market trends during the forecast period.
The highlights of the report include:
· In-depth evaluation of the key market segments;
· Comprehensive profiling of major market players and their main strategies;
· Microscopic analysis of the different market drivers and challenges; and
· Exhaustive study of the regional developments impacting the growth of the market.
Market Driver
Several Advantages of Carnauba Wax to Propel the Market
Extracted from the leaves of the carnauba tree native to Brazil, carnauba wax is a plant-based ingredient that is widely used as a glazing agent in food products. Being naturally derived, this wax offers a range of health benefits. For example, carnauba wax is known to be hypoallergenic, meaning that consuming it will have a very minute probability of causing an allergic reaction in a person. Moreover, the melting of this wax is very high, which means that the human body cannot melt it when ingested. As a result, it passes right through the body without accumulating on the nerves or assimilating in the bloodstream. Given its harmlessness, food manufacturers extensively use carnauba wax to not only to coat different foods, but also to provide gloss for frosting cakes and also in sauces. In America, for instance, this wax is commonly found on dental flosses, candy-coated chocolates, and medicinal tablets. Increasing adoption of carnauba wax will, thus, accelerate the food glazing agents market growth in the forthcoming years.
Regional Analysis
Asia-Pacific to Hold Lion’s Share; Europe to Display Steady Growth
Asia-Pacific, in terms of geography, is expected to dominate the food glazing agents market share owing to high population growth and growing disposable income in the region, both of which are fueling the demand for confectionery items. Apart from this, end-user manufacturers in the domains of functional food, processed meat, bakery, and convenience food are increasingly adopting food glazing agents to meet consumer demand. In Europe, on the other hand, a robust food and beverage industry and a soaring demand for organic food glazers, especially in the UK, France, Italy, and Germany, are mainly driving the growth of the regional market.
Competitive Landscape
Enhancement of R&D Capacity to Stimulate Intense Competition
According to the food glazing agents market analysis, core competitors are ramping up their investment in elevating their research and development capabilities in order to bring out innovative products in the market. A few market participants are also engaging in acquisition activities to expand their footprint in this market, the analysis observes.
Industry Developments:
· January 2020: The Austrian food company Agrana Group announced that it will be investing € 3.4 million in two of its R&D sites in Austria and France to focus on developing new food products derived from fruits, sugar, and starch. To that end, the company plans on investing a total of € 20 million annually.
· September 2019: Mantrose-Haeuser, the US-based edible coating specialist, announced its acquisition of another US-based food company, Profile Food Ingredients, headquartered in Illinois. The acquisition is aimed at expanding Mantrose-Haeuser’s food coating portfolio by utilizing Profile Foods’s state-of-the-art manufacturing facility and other technologies that the company has for its product formulations.
List of Key Players Covered in the Food Glazing Agents Market Report:
· Avatar Corporation
· Ningbo J&S Botanics
· Poth Hille
· Strahl & Pitsch Inc.
· Döhler Group
· Masterol Foods
· Archer Daniels Midland Company
· Kerry Group
· British Wax
· Agrana Beteiligungs Ag
· Mantrose-Haeuser Co. Inc.
· Capol GmbH
Browse Summary
https://www.fortunebusinessinsights.com/food-glazing-agents-market-102114
