Mirror Glaze And Automation Technology Remodeling Today’s Baking Industry:
The food glazing agents market is gaining huge success manifested by the application of robotic automated machinery in baking procedures. Automation technology is rampantly affecting the business prospect in many sectors owing to the wide range of solutions proffered with minimal time investment in the procedure. The current trend of technology adoption to leapfrog in the long run towards market stability has penetrated the bakery and confectionery industry in recent times. This is likely to add a boost to the manufacturing of food products with much reliability and convenience. Besides, this reduces additional human effort and makes scope for 3D printed customized designs and decorations. Being much spotted with huge demand from consumers across the world, modern bakery and confectionery have incorporated the mirror glazing trend that is gaining popularity in recent times. Furthermore, Instagram's popularity is also carving greater scopes for the glazing products in the world of desserts. Concurrently, these two new aspects of modern bakery and confectionery are harboring humongous profit for the glazing agents such as stearic acid, bees wax, carnauba wax, candelilla wax, and paraffin wax that have gained a significant place in these sectors. Furthermore, glazing agents are also used in functional foods.
The global Food Glazing Agents Market leveraged a surplus economic profit in the year 2018. This is facilitated by the growing demand for new innovations in glazing decorations of cakes, pastries, and a lot more. Additionally, with greater usage in multi-cuisine food preparation such functional foods, meat, fish, and others explores a good deal of glazing activities. Consequently, this market generated a revenue of $2.9 billion in the same year and is estimated to experience a CAGR of 9.6% during the forecast period of 2019-2025.
Confectionery Industry Nurturing The Food Glazing Agents Market Demand:
Confectionery foods concentrate largely on improvising the appearance of food to increase consumer interest. The holiday spending during celebratory occasions in countries across the world administers huge purchasing of confectionery items like chocolate, candy, and other sweets. Additionally, confectioneries have a wide demand among all groups of people throughout the year. This highlights the prospect for food glazing agents market to generate huge revenue owing to large-scale demand and distribution of confectionery worldwide. Also, the U.S. confectionery industry, currently, acquires an economic output of $35 billion annually. Considerably, this expands the scope for the food glazing agents market to increase its business footprint owing to the huge application in the confectionery industry. This is application segment is anticipated to increase at a 4.3% CAGR through to 2025.
Europe Contributing A Healthy Regional Share:
Europe has been remarkably known for its stronghold position in the bakery and confectionery industry. The foodservice and food processing industries have stretched out its reach wide across several countries in this region due to the extensive demand for rich confectionery and bakery products that is their prominent culinary culture. Key confectionery companies such as Ferrero Group (Italy), Nestle SA (Switzerland), Chocoladenfabriken Lindt &Sprungli AG (Switzerland), Pladis (UK) generated net sales of $12,390 million, $6,135 million, $4,374 million, and $2,816 million in 2018. This statistic suggests an overwhelming growth of the domestic food glazing agents market thereby also reflecting the profit gained in the process. Significantly, Europe contributed a major regional share of 32% to the global food glazing agents market.
Key Companies Inducing Significant Boost:
The major companies propelling the global food glazing agents market share include J International, British Wax Refining Company Ltd., Capol Gmbh, Carnauba do Brasil Ltd., Koster Keunen Inc., Mantrose-Haeuser Co. Inc., Masterol Foods, Poth Hille & Co Ltd., Stearinerie Dubois, Strahl & Pitsch, Inc., and others.
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