Hyderabad, India -- (SBWire) -- 02/21/2018 --The report " Food Glazing Agents Market By Ingredient Type (Stearic Acid, Beeswax, Carnauba Wax, Candelilla Wax, Shellac, Paraffin Wax And Others), By Ingredient Function (Coating Agents, Surface-Finishing Agents, Firming Agents, Film Formers And Others), By Application (Bakery, Confectionary, Processed Meat, Poultry And Fish, Fruits & Vegetables And Others), And By Region - Global Industry Analysis, Size, Share, Growth, Trends, And Forecasts (2016–2021)", The Global Food Glazing Agents Market was valued at USD 2.4 billion in 2016 and is expected to grow with a CAGR of 8.8% to approximate USD 3.66 billion by 2021. Increasing demand for processed food and convenience food are is the chief factor promoting the growth of the global market.
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By Ingredient Type, Carnauba Wax to command the largest global market share
According to classification by Ingredient type, the Global Food Glazing agents market is segmented into Stearic Acid, Beeswax, Carnauba wax, Candelilla wax, Shellac, Paraffin wax and other ingredient types. The diverse advantages of food glazing ingredients create the demand for various kinds of ingredients. In 2016, Carnauba Wax segment occupied the largest share of the global market. It is expected to remain the same in the forecast time period.
Coating Agents segment to continue dominating the global market
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Under categorization by ingredient function, the global market is segmented Coating Agents, Surface-Finishing Agents, Firming Agents, Film Formers and other functions. Due to its use in the preservation of various liquid and solid foods, the Coating Agents segment accounted for the biggest share in the global market in 2016. Surface finishing agents segment is predicted to witness a high market growth rate.
By process, the sequencing segment accounted for the largest share of the market in 2017
Based on segmentation by application, the global market is divided into Bakery, Confectionary, Processed meat, poultry and fish, Fruits & Vegetables and other applications. The rising demand for preserved, easy-to-consume foods directly creates a market for various food glazing agents around the world. The confectionary segment is calculated to remain the top contributor to the global market share.
Europe market to possess the biggest share in global market in forecast period
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Geographically, the global market is examined in North America, Europe, Asia-Pacific, Latin America and the Middle East and Africa regions. Due to the very large demand for baked goods and other preserved food in the region. Europe is the first region in the world, global market share wise. North America and Asia Pacific markets are also predicted to witness a very high growth rate.
Some companies dominating the global Food Glazing Agents Market are Kerry Ingredients Limited, Mantrose-Haeuser Co. Inc., Capol GmbH, Entemann's Inc., The Riverside Company, Arla Foods, Masterol Foods, AVATAR CORPORATION, Wuhu Deli Foods Co., Ltd., Ningbo J&S Botanics Inc., and Strahl and Pitsch Inc.
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