The release agents market is estimated at USD 925.4 million in 2018, and it is projected to grow at a CAGR of 4.1% through 2023. The release agents market is segmented on the basis of form, ingredient, application, and region. The form segment of the release agents market includes solid and liquid forms. This market has also been segmented on the basis of application into bakery products, confectionery products, processed meat, and convenience food. It has also been segmented on the basis of ingredients into vegetable oils, emulsifiers, wax & wax esters, and antioxidants. On the basis of key regions, the release agents market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW), which includes South America and the Middle East & Africa.
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The increasing demand for a balanced diet and rising preference of various dietary supplements and food & beverage products fortified with release agents are driving the market.
Based on ingredients, the emulsifiers segment is projected to be the fastest-growing from 2018 to 2023. Emulsifiers are important ingredients in the manufacturing of release agents for food applications, as they impart freshness to the food. They can be derived from natural and synthetic chemicals. The significance of using emulsifiers in various food products is characterized by their functional properties and the numerous benefits associated with their use.
On the basis of the form, the liquid segment is projected to be the faster-growing from 2018 to 2023, because liquid release agents are available in spray cans to enable ease of application.
Based on the application, the bakery segment is projected to be the fastest-growing during the forecast period. This growth is mainly associated with the growing the demand for processed and convenience food.
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The Asia Pacific region is projected to be the fastest-growing market for release agents between 2018 and 2023. Factors such as the industrial applications and technologies involved in starch processing are changing rapidly in the Asia Pacific countries.
The release agents market is diversified and competitive, with a large number of players. It is dominated by various players, depending on their core competencies. However, regulations governing the use of release agents in food is the major factor restraining its growth.