Food Glazing Agents Market - Growth, Trends, and Forecasts (2023 - 2028)

The food glazing agents market is projected to record a CAGR of 8.69% during the forecast period (2022-2027).

Due to the COVID-19 pandemic, the food additives market was affected, from the procurement of raw materials to the production of end products. Manufacturers faced issues because of the shortage of labor and the import and export restrictions. The COVID-19 pandemic also affected various industries worldwide. The pandemic had a severe impact on the food production and distribution sector. Due to strict lockdowns and social distancing measures, many food processing industries were shut down, negatively impacting the food glazing manufacturing industries worldwide.

The food glazing agents market is significantly influenced by two broad factors - increasing consumption of bakery and confectionery products and increasing awareness among consumers regarding different foods. Both these factors are particularly prominent in the case of European and American countries.

Furthermore, growing urbanization and high-income consumers in these regions are cited as major reasons for the market's growth. Consumers are more concerned about the attractiveness of bakery and confectionery products. These glazing agents are also used as a protective coating for food.

Food Glazing Agents Market Trends

Increased Demand for Ready-to-Eat and Processed Food

The growth of the food additives industry, combined with the increased consumption of processed food, is primarily driving the food glazing agents market. The increasing demand for organic and vegan foods is expected to drive the demand for food additives, which is boosting the growth of the food glazing agents market. The increased demand for convenience and processed foods, such as ready-to-eat foods, ready-to-drink beverages, snacks, and frozen meals, is one of the significant factors driving the food glazings agents market. Food additives are extensively used in these products to preserve the freshness, safety, taste, appearance, and texture of processed foods. For instance, emulsifiers bind water and oil together in an emulsion, thus playing an important role in many low-fat processed foods. Rising consumer preference toward texture and appearance due to confectionery and bakery consumption, particularly in China, India, and Brazil, may drive the food glazing agents market in the mentioned countries.

Europe Holds a Prominent Share

Europe is an important region in the food glazing agents industry that leads the global industry, in terms of revenue, due to the high prices and high demand for confectionery and bakery products. Europe is an important region for the food glazing agents industry, contributing significantly to the growth of cakes and bakery products. The number of food processing units has increased in the region over the past few years. Owing to the large population base with a potential consumer market, United Kingdom remains a profitable market for food additives. Moreover, the country is experiencing significant development in terms of new product launches and innovations.

Germany is the largest and fastest-growing food sweetener market in Europe. Currently, the consumption of sugar substitutes is increasing rapidly in the country due to consumer awareness and government regulations. Germany also has a large domestic production of bakery products due to higher consumption. The country's growing bakery and confectionery industry is catering to the growth of the German sweeteners market. As Italy is a bread-loving nation, the demand for bakery and confectionery are the major consumers of food emulsifiers in the country. The dairy industry is also registering decent growth in the consumption of food emulsifiers, thereby increasing the demand for food glazing agents.

Food Glazing Agents Market Competitive Analysis

The food glazing agents market is highly fragmented with the presence of local and international players. Key players in the market include Capol GmbH, Koster Keunen, Stearinerie Bubois, Mantrose-Haeuser Co. Inc., and Colorcon.Inc. The major players are expanding their geographical presence by acquiring or merging with the manufacturers in the foreign market. Expansion is the most preferred growth strategy by major players in the market, followed by new product developments. Additionally, acquisitions and partnerships are the two other strategies followed by the companies to strengthen their market dominance.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support