According to a report by Market Research Future on the food glazing market, it’s estimated to reach a total of US$8.9 billion by 2027, between the years 2020 and 2027.
Food glazing agents are a kind of protective covering on food products to retain the moisture level, create a shiny appearance and protect them from external conditions. They are typically sourced from naturally produced waxes or synthetically extracted from petroleum. Popular food glazing agents include candelilla wax, beeswax, shellac, carnauba wax and more.
Food glazing agents are preferred in the food and beverage sector as they enhance characteristics such as enhance texture and flavour. They have significant applications in confectionery and bakery thanks to the aesthetic appeal they bring to products, as well retain moisture and prevent humidity.
In recent years, emerging markets like Mexico, India, South Africa, Saudi Arabia and Brazil have experienced large growth, and will offer “lucrative” opportunities to food glazing agent developers in the future. The growing working population is another growth-enhancing factor for the market, as well as the rising number of restaurants and cafes and subsequent rise in the use of food glazing agents.
The trend of stockpiling various food products, in particular confectionery and bakery, should benefit the market worldwide. The escalating growth of the bakery industry along with growing demand for snacks for people working from home will present opportunities in the future.
Of stearic acid, beeswax, carnauba wax, candelilla wax, shellac and paraffin wax, the carnauba wax segment is the largest and is expected to continue dominating the worldwide market. The reason for its strong growth can be credited to the use of the wax as food grade polish as well as gelling agents in a variety of food products and pharmaceutical pills.
North America is the largest region for growth, thanks to widespread use of food glazing agents for better appearance. Canada along with the US are leading contributors to the market growth due to the rising snacking trend among consumers in bakery and confectionery sectors.
However, the APAC region will be gathering momentum during the forecast period, particularly in China and India. The majority of the consumers in these countries are opting for a healthy and nutritional diet. The food and beverage sector is benefiting from industrialisation in both countries and the increase in disposable income. Europe will be an attractive market for food glazing agents due to significant sales in confectionery and bakery items in the region.
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