ID: MRFR/F-B & N/1671-HCR | 110 Pages | Published By Varsha More on March 2023
The food glazing agents market to reach USD 8.9 billion by 2027 registering a CAGR of 5.40% during the forecast period of 2020–2027.
$8.9 billion
5.40%
North America
2020- 2027
The food glazing agents market will reach revenue of USD 8.9 billion by 2027 and is expected to register a CAGR of 5.40% during the forecast period of 2020–2027.
The Global food glazing market size is anticipated to be increasing at a good market scale during the ongoing forecast period that will be ending in 2027. It has been projected that the global market has been witnessing significant growth in the past couple of years. The market trends suggest that there will be substantial growth in the demand for food glazing agents. The demand is expected to be driven by an increase in consumption of ready-to-eat food followed by the rising consumer awareness regarding the healthy lifestyles prevalent in the global market premises. Such factors have resulted in helping the food glazing agents market to grow at an excellent rate by adopting and implementing measures like the consumption of snack food. This is driving the growth of the food glazing agents market across the globe.
COVID 19 Analysis
The onset and global outbreak of the novel coronavirus pandemic have been a major cause of concern for the manufacturers, dealers, and retailers of the food glazing agents market since 2020. The arrival of the pandemic has created immense issues and hence, forced the global governments of the participating regions to impose functional restrictions and both temporary and permanent lockdowns to stop the sudden and fatal spread of the deadly virus on the international market scale. Also, the reduced availability of raw materials, resources, and skilled labor is further, hampering the food glazing agents market from growing, and hence, some issues await to be resolved.
Also, the food glazing agents’ market trends suggest that there is an urgent need for the market to return to proper functioning. Hence, the global governments are not only understanding this but also taking qualitative steps like the reduction of restrictions and helping the market to opt for an elaborated functioning.
Market Dynamics
Drivers
There has been an increase in the number of isolated families that are being coupled with the increasing disposable incomes. This is a prominent market factor that will lead the food glazing agents market towards impeccable market expansion during the forecast period that will be ending in 2027. This has given rise to the birth of unwrapped observing opportunities that is likely to drive the growth of the global food glazing agents market during the forecast period of 2020-2027.
Restraints
The food glazing agents industry is home to several ingredients that make use of various kinds of materials for packaging and plastic is one of them. With the global rising environmental concerns like climate change, there has been a major issue in using plastic in the food glazing agents’ market share dealings. This is likely to hamper the food glazing agents market from growing in the international market during the period. There is an emerging need for the market for the development of alternatives in the form of packaging materials.
Technology Analysis
The food glazing agents market value has been witnessing trends that support its size in the global market functioning. The food glazing agents market growth during the ongoing market trends for the forecast period can be attributed to the rising employment of technology. There has been a growing penetration of franchise food organizations followed by rising factors like the increasing out-of-home food consumption in urban areas along with the growing retail industry. These are the reliable factors that are increasing the adoption of processed and convenience food alternatives amongst the global target audience. All these factors are likely to drive the food glazing agents market towards exemplary growth during the period that ends in 2027.
Segment Overview
The global food glazing agents market value will increase in the market during the forecast period that will be ending in 2027 as it has been segmented based on the understated factors:
Based on Ingredient Type, the market has been segmented as follows:
Based on Ingredient Function, the market has been segmented as follows:
Based on Application, the market has been segmented as follows:
Based on Region, the market has been segmented as follows:
Regional Analysis
Based on the geographical bifurcation of the food glazing agents market, there are 5 major participating regions across the global market premises. In the historic forecast period that had ended in 2019, the North American market garnered the largest revenue share owing to the high demand for food glazing agents in various food products to improve its appearance. US and Canada are the major country-level markets that are being witnessed to be contributing to the growth of the North American food glazing agents industry especially during the forecast period that will be ending in 2027. However, the market in Asia-Pacific is expected to register the highest CAGR during the forecast period that ends in 2027 due to the increasing expansion of market players in the region and the growth of application industries in the participating regions belonging to the Asia-Pacific.
Competitive Landscape
The Key Players in the Global food glazing agents industry that are helping in the enhancement of the market size followed by the increase in the ability of the market to rise as per the set predictions for the period that will be ending in 2027 are mentioned as follows:
Recent Developments
Intended Audience
Report Overview
The report discusses the scope of the global food glazing agents market growth during the forecast period of 2020-2027. The global market report conducts deep market analysis and shows the market relevance and the factors that wish to push the market towards international growth and global customer expansion in the period that ends in 2027. The global industry report highlights the use of prominent market resources by the food glazing market segments to meet the rising needs of the market audience and hence, help the market cover the losses that have been incurred during the forecast period that ends in 2027.
Report Attribute/Metric | Details |
---|---|
Market Size | USD 8.9 billion |
CAGR | 5.40% (2020–2027) |
Base Year | 2019 |
Forecast Period | 2020-2027 |
Historical Data | 2018 |
Forecast Units | Value (USD Billion) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | by Ingredient Type, Function, Application, and Region |
Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
Key Vendors | Trahl & Pitsch (US),Avatar Corporation (US),Capol GmbH (Germany),Macphie Limited (UK),Mantrose-Haeuser Co., Inc. (US),Fine Zeelandia Pvt Ltd (India),The British Wax Refining Company Ltd (UK),Carnaúba Do Brasil LTDA (Brazil),Masterol Foods (Australia),BJ International (India),Stéarinerie Dubois (France),Koster Keunen, Inc. (US),Poth Hille & Co Ltd (UK) |
Key Market Opportunities | increase in adoption of processed and convenience food |
Key Market Drivers | increase in consumption of ready-to-eat food |