Asia Pacific Food Glazing Agents Market

Asia Pacific Food Glazing Agents Market Growth and Forecast (2023 - 2028):

Asia Pacific Food Glazing Agents Market was worth USD 0.45 billion in 2022 and estimated to be growing at a CAGR of 10.43%, to reach USD 0.74 billion by 2028.

Market Overview:

Food glazing agents are natural or synthetic substances added to food to provide a waxy, homogenous, glazed texture that aids in preventing water loss and imparts basic protection. The glazing used in bakery, confectionary and its alike is mostly for added visual presentability and offers minimum protection to the elements. Whereas the glazing used in coating of fruits and vegetables is designed to withstand much higher and unforgiving conditions.

The food glazing agents are considered as food additives which gives a coating ability, binding capability and improves the visual appeal of finished products. Products that use food glazing include cakes, biscuits, cookies, chocolates, hard candies, toffees, donuts and other products.

Drivers and Restraints:

The size of the Asia-Pacific food glazing agents market is increasing with respect to the growth of the food additive market. The market is projected to grow at a steady pace, led by higher growth in emerging economies such as China, India, Japan and Australia. Market growth is subject to rise in consumption of processed and convenience food products in the growing economy of Asia-Pacific. Other factors restraining the market include, the launch of substitute products by major players and patent issues of glazing agents. Prominent players such as Unilever hold all the patents for the glazing agents and its therefore hard for new undertakings to come to fruit.

Asia Pacific Food Glazing Agents Market Segmentation Analysis:

Asia-Pacific Food Glazing agents market is broadly classified into Stearic Acid, Beeswax, Carnauba wax, Candelilla wax, Shellac, Paraffin wax and others based on ingredient type. Furthermore, based on ingredient function they are classified into Coating Agents, Surface-Finishing Agents, Firming Agents, Film Formers and others. Based on application, they are classified into Bakery, Confectionary, Processed meat, poultry and fish, Fruits & Vegetables and others.

Region Analysis:

Based on geography, the Asia-Pacific market is divided into China, India, Japan, South Korea, Australia and rest of APAC countries. Asia-Pacific was the fastest growing global market in 2018 with a CAGR of over 10%. The region is expected to show a very fast rate of growth due to the increased demand for food glazing in developing regions such as India and China. China has the highest market share in the region while India is the fastest growing region of APAC.

Key Players in the Market:

Some of the major companies dominating the market, by their products and services include Mantrose-Haeuser Co. Inc., Capol GmbH, Kerry Ingredients Limited, Entemann's Inc., Arla Foods, The Riverside Company, Masterol Foods, Wuhu Deli Foods Co., Ltd., Ningbo J&S Botanics Inc., Avatar Corporation, Strahl and Pitsch, Inc. and Hainan Zhongxin Wanguo Chemical Co., Ltd among others.