Market Insights

The global food glazing agents market was valued at over USD 2.41 billion in 2016 and is expected to reach USD 4.57 billion by 2023, with a CAGR of 8.5%, during the forecast period. Glazing agents play an important role in bakery and confectionery products. They add a protective coat and texture the food. 

Market Dynamics

The food glazing agents 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 major restraints in the food glazing agents market are the awareness of the ill effects and regulations towards the usage.

Market Segmentation

The global food glazing agents 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.

Regional Analysis

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.

Key Developments

• March 2018 – Hong Kong-listed China Haisheng Juice Holdings agreed to form a joint venture with Zhaoyang Agriculture to modernize fruit plantations in China's Yunnan Province

• July 2017 – Austrian fruit ingredients producer Agrana invested almost USD 29.04 million in a new manufacturing facility in eastern China. The facility is expected to be operational by 2019. Once completed, the main purpose of the facility will be to focus on R&D activity for jam, jam ingredients and fruit juice concentrates

Competitive Landscape

Major Players - Agrana Beteiligungs Ag, China Haisheng Juice Holdings Co. Ltd., Coca-Cola, Döhler Group, Hershey, Kanegrade Ltd., Kerr Concentrates Inc., Kerry Group, Lemon Concentrate S.L., Pioma Industries, SVZ, Rudolf Wild Gmbh & Co. Kg, Skypeople Fruit Juice Inc.,  Sudzucker, Sunopta Inc., among others.

Reasons to Purchase this Report

• Analyzing outlook of the market with the recent trends and Porter’s five forces analysis
•  Market dynamics, which essentially consider the factors that are impelling the present market scenario, along with growth opportunities of the market in the years to come
• Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and non-economic aspects
• Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market
• Competitive landscape involving the market share of major players, along with the key strategies adopted for development in the past five years
• Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
• 3-month analyst support, along with the Market Estimate sheet in excel

Customization of the Report

This report can be customized to meet your requirements. Please connect with our representative, who will ensure you to get a report that suits your needs