The Food Glazing Agent Market is expected to reach USD 5.9 Billion by 2028, growing at a CAGR of 8.7% between 2021 to 2028. The rising demand for durable and sustainable foods is expected to drive the requirement for food additives, thus boosting the growth of the Food Glazing Agent’s Market. Increasing customer choice towards composition and appearance of the confectionery and bakery products so drive the food glazing agent’s market.
- The stearic acid segment is projected to expand at the fastest CAGR exceeding 8.9% over the forecast period owing to the increasing adoption consumers are more mindful of their wellbeing and safety.
- The confectionery segment held a market share of around 35% in 2020. This share is due to the rising investments in food glazing agents are used to provide and enhance food appearance and texter.
- Asia Pacific is expected to expand at a CAGR of over 9% from 2021 to 2028. This surge is attributed to the rising demand for food glazing agents in developing economies such as China and India.
Some of the key players in the Food Glazing Agent Market include Freudenberg Chemical Specialities SE & Co. KG, Montrose-Haeuser Co., Inc., STEARINERIE DUBOIS, Royal Zeelandia Group BV, Master Foods, and Colorcon, Inc., Capol GmbH, Strahl & Pitsch, Inc., and, among others. The market is comprised of a high degree of competition due to the presence of numerous key players.
The expansion in the consumption of bakeshop and confectionery made products and growth in information among customers regarding various foods and beverages. This factor is especially obvious in western countries. The rise of the food additives enterprise linked with the improved consumption of manufactured food and beverage is fundamentally driving the global food glazing agent’s market.
North America is expected to record the highest CAGR, owing to the increasing demand in countries, such as the U.S., Canada, and Mexico. The expansion in the consumption of bakeshop and confectionery made products and growth in information among customers regarding various foods and beverages. Both these factors are particularly prominent in the case of European and American countries. The rise of the food additives industry linked with the improved consumption of processed food and beverage is primarily expanding the global food glazing agent’s market.