LONDON, Oct. 3, 2016 /PRNewswire/ -- The north america & europe release agents market is expected to reach USD 719.0 million by 2024, according to a new report by Grand View Research, Inc. Rising demand for freshly baked goods including bread, pastries, cakes and biscuits on account of increasing health awareness towards nutritional benefits and changing lifestyle is expected to promote the consumption of release agents. Furthermore, rising demand for frozen desserts from key European countries including Switzerland, Denmark, and Sweden owing to product innovation by baked goods manufacturers on a domestic level is likely to increase the demand for release agents over the forecast period.
Release agents in the solid form are used in a broad range of products in the food industry including cheese sauces, chewing gum, and pasta. These products have a higher resistance to deterioration in storage, which is a major driver for the product growth. The product segment is expected to foresee volume growth, at a CAGR of 2.2% from 2016 to 2024.
Further key findings from the report suggest:
Vegetable oils, in the form of coconut oil, grapeseed oil, soy oil, canola oil, and mustard oil, are popular choices as raw materials for the production of release agents. The segment is expected to witness volume growth at a CAGR of 2.3% from 2016 to 2024 on account of high market visibility and ease of incorporation in spray systems.
Release agents market volume in rolls & breads was 211.1 kilo tons in 2015. Increasing consumption of gluten-free bread in the U.S., Canada, Germany, and France on account of rising concerns over glutamic disorders and new product innovations is expected to promote the product demand over the next eight years.
North America release agents demand was 210.0 kilo tons in 2015. High prevalence of meat processors including JBF, Tyson and Cargill Foods in the U.S. and Canada on account of easy access to consumables is expected to promote the application of release agents. Furthermore, favorable market outlook towards baked goods in Mexico on account of increasing consumer preference towards new products including frozen pastries is expected to have a positive impact over the forecast period.
Key releasing agents' manufacturers include ADM, Bunge, AAK AB, Mallet AB and Par-Way Tryson Company. Furthermore, leading chemical manufacturers including DuPont and Dow Corning also have a market presence through their food lubrication products. High manufacturing cost in developed markets including Germany and UK is expected to remain concerning issues for the market over the forecast period.
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