(Entertainment-NewsWire.com, October 25, 2021 ) The release agents market stood at USD 888.9 million in 2017; it is projected to grow at a CAGR of 4.1% from 2018, to reach USD 1,131.3 million by 2023. The global demand for release agents is on the rise, particularly in the bakery & confectionery industries. The demand is governed by the performance quality and functionality of the products. Increasing demand for release agents in the bakery & confectionery industries is one of the factors supporting the market development significantly.
The bakery segment dominated the release agents market.
On the basis of application, the bakery segment dominated the market, this segment accounted for the largest share in 2017, due to the increase in demand for baked goods. Baked products are classified into three broad segments: bread, biscuits, and cakes; they witness high demand, mainly due to their low price, ease of production, and increasing popularity (due to their taste, nutritional value, varieties, and ease of availability), making them a vital part of several meals.
Carbon dioxide segment has the highest share in the food grade gases market.
The use of liquid release agents for bakery and confectionery applications, along with processed meat and convenience food, is constantly growing. Many specific liquid release agents have been introduced, which are available in spray cans to enable ease of application.
Rising demand for non-hydrogenated vegetable oils
On the basis of ingredients, the market is segmented into emulsifiers, vegetable oils, wax & wax esters, and antioxidants. Different ingredients and a specific manufacturing process are chosen, depending on the properties of the ingredients and the desired end application. Recently, the demand for non-hydrogenated vegetable oils has been on the rise, as it helps increase the shelf-life of the final product.
North America and Europe are dominant regions in the release agents market in 2017.
Europe and North America are the dominant regions in this market in 2017, owing to the high demand for baked goods, the presence of major players in these regions, and awareness about the benefits of using release agents. However, Asia Pacific is projected to be the fastest-growing market during the forecast period, due to greater awareness and increase in production of processed food in the region. Asian countries, especially China, have also emerged as leading destinations, thereby facilitating the market shift from developed economies to developing economies. In relatively saturated markets such as the US and Europe, value-based pricing and raw material sourcing have emerged as major strategies for companies looking to establish a strong foothold in these markets.
Key players are Archer Daniels Midland Company (US), AAK AB (Sweden), Cargill (US), Dowdupont (US), Avatar Corporation (US), Par-Way Tryson Company (US), Associated British Foods PLC (UK), Mallet & Company, Inc. (US), Lecico GmbH (Germany), Lallemand (Canada)
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