Food Coating Ingredients Market Coverage with Size & Share Analysis, Demand & Consumption Forecast-2032
The global food coating ingredients market is projected to reach a market valuation of US$3.5 billion by 2022, accelerating at a CAGR of 6.4% for 2022-2032. Food coating ingredients sales are expected to account for 27% of the total food coatings industry.
A number of food coating ingredients continues to find application in a wide variety of substrates ranging from seafood to plant proteins, thereby exerting crossover appeal in conventional and vegan markets as well as in products developed for consumption out or at home.
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In recent years, the trend of health and wellness has been placing a great deal of pressure on manufacturers to come up with healthier alternatives for food coating ingredients already in use.
As consumers are starting to avoid certain types of fats, including saturated fats and partially hydrogenated oil, manufacturers of coated food products tend to be agile and responsive to consumers’ changing needs. As such, they innovate rapidly, offering tasty, novel, sustainable, and better-for-you options for consumers.
Food Coating Ingredients Market Players – Key Insights
Some of the key players operating in the food coating ingredients market include Tate & Lyle Plc, Döhler Group, Cargill, PGP International Inc., Agrana Group, and Archer Daniels Midland Company.
- In November 2019, Tate & Lyle, a provider of food & beverage ingredients and solutions, announced the opening of its new and expanded Latin American headquarters in Sau Paulo, Brazil. The new application center includes a pilot plant and state-of-the-art experimental kitchen which will help manufactures develop products that fulfil growing consumer preferences for healthier, tastier food and beverages.
- In November 2019, Cargill-Royal DSM joint venture, Avansya, started commercial-scale production of EverSweet, a non-artificial, zero-calorie stevia sweetener at new fermentation facility in Nebraska, U.S.
- In November 2019, Agrana Group, a key player in the food coating ingredients market, announced the construction of its second wheat starch processing plant at the site of its biorefinery in Pischelsdorf, Austria. Through the new project, the company is aimed at twofold production capacity of wheat starch.
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Key Factors Influencing Food Coating Ingredients Market
- Combining Functionality and Flavor with Texture Appeal
Growing popularity of fried foods among consumers demanding convenience yet healthy options remains a key factor fueling innovation in the food coating ingredient space. Despite recent emphasis on low carbs, rising cases of obesity, and corresponding concerns over frying, a wide range of coated food products continue to penetrate the marketplace. The result is expected to lead to increased demand for food coating ingredients. In addition to ingredients designed for increased functionality and improving the quality of coated food products, manufacturers are targeted towards delivering a variety of new flavors, texture, appearance, and mouthfeel
- Significant Growth in Demand for Ready-to-Eat Food
With convenience meals catering for every occasion, breakfast drinks to lunchtime, all the way through to dinner time meals, technology-enabled delivery for prepared and ready-to-eat meals has increased exponentially over the last few years. Today, hectic schedules are changing how, where, and when time-poor consumers eat, thereby potentially raising the demand for ready-to-eat food as well as frozen ready meals. This, in turn, is projected to remain instrumental to sales of food coating ingredients.
- Strong Focus towards Aligning with Clean Label Trend
In period of alternatives rather than omissions, consumers are gradually moving away from fad diets and eliminating several food groups and inclining towards a more balanced approach of eating. As food security issues continue to rise and consumers’ inquisitiveness about foods and their sources increases, manufacturers are focusing on providing novel ingredients to eliminate allergens and to be more clean-label friendly. For instance, gluten-free coating ingredients are garnering significant traction, on the account of rise of gluten intolerance and association of gluten-free products with diets such as Paleo.
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The report covers exhaustive analysis on:
- Food Coating Ingredients Market Segments
- Market Dynamics
- Food Coating Ingredients Market Size
- Supply and Demand
- Current Trends/Issues/Challenges pertaining to Food Coating Ingredients Market
- Competition Landscape and Emerging Market Participants in Food Coating Ingredients Market
- Technology related to Production/Processing of Food Coating Ingredients
- Value Chain Analysis of the Food Coating Ingredients Market
The regional analysis includes:
- North America (U.S., Canada)
- Latin America (Mexico, Brazil)
- Europe (Germany, U.K., France, Italy, Spain, Poland, Russia)
- East Asia (China, Japan, South Korea)
- South Asia (India, Thailand, Malaysia, Vietnam, Indonesia)
- Oceania (Australia, New Zealand)
- Middle East & Africa (GCC Countries, Turkey, Northern Africa, South Africa)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators, and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on food coating ingredients market segments and geographies.
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- Changing market dynamics in the industry
- In-depth market segmentation
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- Strategies for key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
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