- The Increased demand for meat, eggs, poultry, bakery items, snacks, and pastries increased, and the rising need for refined and convenient foods is driving the demand for the market.
- Market Size – USD 3.94 Billion in 2019, Market Growth - CAGR of 5.1%, Market Trends – Increased demand for convenience food.
NEW YORK, Aug. 19, 2020 /PRNewswire/ -- The Global Food Coating Ingredients Market is projected to reach USD 5.94 billion in 2027. The growing success of fast food restaurants through the past few decades has contributed significantly to consumer development and growth of the food & beverage industry. Food coating is part of the manufacturing of foodstuffs and is used to enhance the structure, taste, and texture of the product. The method allows the product to keep moving as the layer component is used in a specific design. Such coatings not only secure the underlying substance but also increase the overall appeal and product quality.
It is anticipated that the growing food processing sector will promote product production. However, many consumers opt for food ready for consumption and frozen foods, which is expected to push the global market in food laminations to accommodate the shift in consumption patterns. In emerging economies such as Asia and Africa, the global fast food market is projected to grow rapidly. Rising per capita incomes, changing lifestyles, and increased popularity of fast food among young people are expected to further boost market growth.
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Strict rules and regulations imposed by North American and European government bodies would possibly hamper the development of the industry. The FDA and the European Commission are both likely to be inclined to discourage the use of additives and chemical products in the F&B industry to minimize production growth.
Increasing demand for processed food, increased disposable income, and increased population in the Asia Pacific are expected to boost market growth in the region. A majority of European markets will grow steadily by 2027.
COVID-19 Impact Analysis:
The COVID-19 pandemic has considerably impacted productivity for companies. Key market leaders are uncertain about the industry's prospects and are finding solutions to this issue. Many hospitals have undertaken their pandemic programs and other initiatives. There has been massive economic loss during lockdowns in various parts of the world. COVID-19 resulted in a major decrease in the domestic product, export, and import demand. The largest corporations in the world prefer cutting their budgets in order to build cash reserves. True efficiency levels would inevitably lead to new ways of fulfilling customer demand at a much lower cost for workers and companies.
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Further key findings from the report suggest
- Food coating is an immediate application of food ingredients and controls techniques for development.
- The market is mainly driven by increased demand for food industries, particularly pastries, bakeries, fried foods, and ready-to-eat foods, which contribute to the color, taste, and sweetness of food products being covered.
- The food coating industry also needs to incorporate various coating ingredients for food products to accommodate the demand for antimicrobial coating.
- The most critical aspect of the demand for ingredients is the coating products employed by industry, sugars, and syrups supplemented by cocoa and chocolate, because of their enormous breadth of use.
- The rising demand for packaged foods, increasing disposable incomes, and the increased population in the area is likely to be a sign of substantial growth in Asia-Pacific in the next years. The regional demand for food products is expected to grow.
- In March 2018, Tate & Lyle PLC partnered with the leading manufacturer of specialty products and raw materials, HORN (California, North America). HORN distributes the advanced ingredients from Tate & Lyle produced for the nutrition industry in the United States as part of this collaboration. It will create opportunities for shared growth and improved exposure to new goods in the companies' markets.
- Key players in the market include Ashland Inc., Bowman Ingredients, Archer Daniels Midland Company (ADM), E. I. DU Pont DE Nemours and Company, Sensory effects Ingredient Solutions, PGP International, Inc., Tate & Lyle PLC, Ingredion Inc., Agrana Beteiligungs-AG, and Newly Weds Foods, among others.
For the purpose of this report, Reports and Data has segmented into the Food Coating Ingredients Market on the basis of product, application, and region:
Product Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)
- Cocoa & Chocolates
- Fats & Oils
- Salt, Spices & Seasonings
- Sugar & Syrups
Application Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)
- Bakery Products
- T.E. Cereals
- Dairy Products
- Snacks & Nutritional Bars
- Fruits & Vegetables
- Meat & Poultry Products
Regional Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)
- North America
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- Rest of MEA
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