Food Coating Ingredients Market Size, Regional Outlook, Application Development Potential, Price Trend, COVID19 Impact Analysis, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI2221
Food Coating Ingredients Market size will gain notable proceeds from 2021-2027 with the emerging incorporation of encapsulation techniques, wide application scope, and the increasing focus to extend the shelf life of food items. The growing consumption of ready-to-eat and frozen food will substantially contribute to shaping the growth curve of the market.
Food coating ingredients are used to offer a desirable product with texture, appearance, and taste while locking in their flavor and moisture. Every food component has been coated, and more sophisticated and elaborated commercial coating formulations are coming to light in the present day.
The rising acceptance of fast-food restaurants on account of the higher consumption of junk food is another key trend driving the food coating ingredients market growth.
Based on the product type, the market is classified across hydrocolloids, sugar & syrups, fats & oils cocoa & chocolates, and flours. Among these, the sugar & syrup segment is likely to project an escalating demand with the surge in new developments in antimicrobial coatings. For instance, RUDN University chemists came up with a new antibacterial food coating material, derived from the natural polymer chitosan. The amendment of supportive principles and guidelines across several countries will also boost product expansion.
Confectionary is the most common application which is expected to bolster the food coating ingredients market share. This is mainly ascribed to the growing popularity of chocolate-coated products, candies, and pastries specifically among children. The US Census Bureau has also suggested that an average American consumes nearly 22 pounds of candy every year. The influx of electrostatic coatings in order to meet the rising confectionary demand will further enhance the industry outlook.
In terms of regional segmentation, the APAC region is anticipated to record significant penetration of food coating ingredients on account of the growing demand for processed and RTE convenience foods. The expanding working population in the region is another important driver for regional growth.
Innovations through new product launches along with partnerships, acquisitions, investments, and capacity expansions are some of the inorganic strategic decisions taken by these firms to widen their global footprint while gaining competitive edges.
For instance, in October 2020, Solina Group, a major French savory ingredients maker, acquired Bowman Ingredients for an undisclosed amount as part of its expansion strategy. The deal included four U.K.-based manufacturing from Bowman, a dedicated gluten-free as well as an allergen-controlled manufacturing plant, and plant in Poland.
Similarly, Caldic, in May 2021 entered a strategic food ingredients partnership deal with Cargill to become the latter’s exclusive partner in the food industry in Switzerland. The product portfolio was inclusive of Cargill’s sweeteners, starches and texturizers, and cocoa & chocolate ingredients. The collaboration helped the company to enhance its offerings in the bakery, beverages, confectionery, dairy, nutrition, and savory sector.
The food coating ingredients industry comprises leading participants, including Tate & Lyle, Dohler Group, Archer Daniels Midland Company, Agrana Group, PGP International (ABF Ingredients, ACH Food Companies, Inc.), Cargill, Ashland, Kerry Group, and DU Pont.
Impact of COVID-19 on food coating ingredients market forecast
While the present COVID-19 pandemic posed numerous challenges on the manufacturing sector, given the nationwide lockdowns and social distancing policies, it acted as a potential booster to the processed food industry. The alarmingly rising infection rate impacted the food purchase and consumption behaviors of consumers. Researchers suggest that people in Italy consumed an ample amount of processed comfort foods, including chocolate, chips, and snacks during the initial days of the lockdown. Norway also observed a higher intake of high sugar food and beverages in individuals with increased COVID-19 related worries.
The need to limit shopping trips and the growing purchase of food with a longer shelf life in a bid to boost the immune systems will further fuel the adoption of food coating ingredients in the long run.
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