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.
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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.
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Leading companies are ADM (US), Avatar Corporation (US), Par-Way Tryson (US), AAK AB (Sweden), and Associated British Foods (UK). Apart from these companies, other release agents companies, such as Mallet & Company (US), DowDuPont (US), IFC Solutions. (US), Lecico (Germany), Lallemand (Canada), Masterol Foods (US), Puratos (Belgium), Zeelandia (Netherlands), DÜBÖR (Germany), Sonneveld (The Netherlands), and Bakels (Switzerland).
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