The food grade paraffin market with its demand and diversified approach in the global market is anticipated to gain development over the forecast period of 2020 to 2030.
Paraffin is made from saturated hydrocarbons which are odorless, solid, soft, and colorless in nature and are produced from the method of oil filtration. This type of paraffin is used to have therapeutic impact in the various forms of physiotherapy treatments used in electrical equipment, cosmetics, rubber, pharmaceuticals and paper applications.
The growing demand for the update of food products due to rising disposable incomes and evolving lifestyles of the majority of the world’s population is expected to benefit the food grade paraffin market.
With the approval of World Health Organization and Food and Drug Administration for food grade paraffin to be used in food processing, the demand for food grade paraffin in emerging regions is anticipated to be driven.
At the same time, the growing demand for lotions in materializing economies such as India, China, and Germany, due to increased knowledge of personal care among consumers, is expected to increase the market for food grade paraffin in these countries.
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Multi Beneficial Properties of Food Grade Paraffin Driving the Growth of the Global Market
Food grade Paraffin used as a chemical preservative, is used to make candy, fruit, and vegetables seem shiny, it also works by slowing down the loss of spoilage and moisture. Food grade Paraffin wax is used in a variety of applications, from commercially manufactured food products to home-made foods. One of the most popular uses of paraffin wax is a wrapper of hard cheese.
The demand from dairy food product manufacturers fueling the growth of global food grade paraffin market.Paraffin has both functional and cosmetic purposes when used with chocolate. Adding food grade paraffin to the melted chocolate offers it a shiny finish as it stiffens. It also allows the chocolate to stay stable at room temperature.
Food grade paraffin wax occurs in some surprising ways, such as sausages, and is used to coat cured sausage links. Perhaps not surprisingly, paraffin is part of the novelty of wax lip molded candies, moustaches and mini soda bottles filled with flavored liquid.
It also helps to maintain life span by retaining humidity. Some fruits, such as apples, contain natural wax that can be quickly washed removed by washing and a little light brushing; subsequent synthetic wax also adds to this natural coating, making it difficult to extract.
Food Grade Paraffin Market: Key Players
The R&D activities of the manufacturers in the food grade paraffin market are aimed at improving the consistency of the paraffin and making it cost-effective. Such innovations open up significant growth opportunities for the food grade paraffin market.
Attractive advertisement campaigns are being introduced by players in the food grade paraffin industry in order to boost their sales. Eventually, this factor would significantly support the food grade paraffin market.
Activities such as mergers and acquisitions also cause tremendous growth opportunities for the food grade paraffin market. The major players in the food grade paraffin market are
- BASF Corporation
- The DOW Chemical Company
- RADCO Industries
- Solutia Inc.
- Hunstman Corporation,
- Applied Thermo Chemical
Food Grade Paraffin Market: Regional Analysis
Rising end use application in emerging economies in Asia-Pacific and Latin America, such as China, India, Malaysia and Singapore have organized a range of opportunities for the food grade paraffin market.
With the maturating of high-end food grade paraffin for production in biomedicine, newer prospects for the food grade paraffin market are anticipated for the period 2020 to 2030.
In the current scenario, North America has emerged as the largest regional food grade paraffin market due to the ever-increasing demand for food grade mineral oil for the food industry. FDA and WHO approvals for the use of food grade paraffin in the food processing industry are expected to further increase the demand for food grade paraffin.
The food grade paraffin market report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions.
By doing so, the research report serves as a repository of analysis and information for every facet of the food grade paraffin market, including but not limited to: regional markets, type, and application.
The study is a source of reliable data on:
- Food grade paraffin market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
The food grade paraffin market report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases).
The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the food grade paraffin market report projects the attractiveness of each major segment over the forecast period.
Food Grade Paraffin: Market Segmentation
application:
- Food & Beverage
- Bakery Products
- Fortified Dairy & Beverages
- Medical Nutrition
- Sports Nutrition
- Dietary Supplements
- Biomedicine
- Textile
- Cosmetics
- Pharmaceutical OTC Drugs
basis of type:
- Solid
- Liquid
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Highlights of the Food Grade Paraffin market report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the food grade paraffin market
- Recommendations to companies for strengthening their foothold in the food grade paraffin market
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