The global food glazing agents market to grow at a CAGR of 8.76% during the period 2017-2021.
Global Food Glazing Agents Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report also includes a discussion of the Key vendors operating in this market. To calculate the market size, the report considers the revenue generated through the sales of glazing agents in key geographical regions.
Food glazing agents are food additives that provide a protective coating. They also render a polish/sheen on the surface of foods like confectioneries and some fruits. This is done to achieve an attractive finishing and look. Major food glazing products are stearic acid or fatty acid, Beeswax, Candelilla wax, Carnauba wax, Shellac, paraffin, and others. These food glazing agents are used in industries like a bakery, confectioneries, fresh fruits and vegetables, functional foods, and others.
One trend in the market is continous product innovations. Confectionery industry uses glazing agents to ensure that the candies chocolates have a glossy shine and also, to retain the shape and flavor of such products. Manufacturers are focusing on new product developments to develop coatings and glazes by using alternative raw material sources. For instance,UK-based specialty ingredients manufacturer, Thew Arnott in May 2017 started offering a vegan alternative to shellac in its range of AraTAs coatings for confectionery and pharmaceutical products.
According to the report, one driver in the market is growing demand from bakery and confectionery industries. Bakery and confectionery product manufacturers tend to glaze most of the products to prolong shelf life and to provide an appealing structure to the products, so that consumers can choose based on their food preferences. There are many varieties of glazes in the market. Liquicote BK by US-based Masterol Foods is suitable to glaze baked products, such as sweet dough buns and loaves; croissants; and pastries. It protects food products from sticking and makes it more palatable.
Further, the report states that one challenge in the market is fluctuation in raw material prices. Companies face difficulties in understanding the risks associated with raw material costs. If companies increase costs only minimally, or if increasing raw material costs coincide with decreasing sales prices, then a low market share is unavoidable. Highly fluctuating raw material costs and ineffective price management can greatly endanger the success of a company.