Food Coating Ingredients Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI2221
Global Food Coating Ingredients Market size will witness dynamic growth owing to increasing demand for dietary supplements to improve organoleptic property of bakery, ready to eat & fried products. Potential outlook in food processing is projected to propel food coating ingredients market size. Furthermore, changing consumer preference for processed and frozen eatables is estimated to drive industry growth.
Rising confectionaries consumption and increasing consumption of healthy eatables particularly in developed countries are the major factors driving food coating ingredients market growth. Manufacturers are expected to introduce numerous coating ingredients for eatables with increasing requirement for the anti-microbial coating.
Increase in number of superstores and shopping marts along with expansion of retail sector in emerging economies is likely to drive food coating ingredients market. Rising production capacities in Asian countries including, India and China owing to supportive government rules & regulations will further enhance the product penetration. Rising demand for the poultry and increasing disposable income of consumers will further provide lucrative opportunities for manufacturers.
Stringent rules & regulations laid down by the government bodies in Europe and North America is expected to hamper food coating ingredients market growth. European Commission and FDA guidelines regarding usage of additives & chemicals in various industries is anticipated to hamper product market size.
On the basis of product type, food coating ingredients market is segmented into sugar & syrups, hydrocolloids, flours, fats & oils and cocoa & chocolates. Sugar & syrup segment is projected to dominate the industry as they help in inducing certain properties including, sweetness, colour and taste to items being coated. New developments in field of antimicrobial coatings is anticipated to boost industry growth. Moreover, demand of antimicrobial varnish component is fuelled by presence of supportive principles & guidelines in several regions.
On the basis of application market is segmented into bakery, confectionary, meat, vegetable, fruit, snacks, dairy and cereal. Confectionary segment will witness significant growth owing to its wide acceptance in developing countries & mounting popularity of the outlets namely KFC & McDonald's. Rising per capita income and consumer willingness to pay higher for healthier products likely to support the product demand. Increased usage of natural ingredients along with adherence to the regulatory norms may result in additional cost for manufacturers.
APAC food coating ingredients market will witness substantial growth owing to increasing regulatory support from the governments. For instance, recently Indian government has started promoting food parks to propel eatables industry and attract foreign direct investment. These improvements are speculated for generating investment in processing industry, thus propelling product market size. Fast-paced life along with rising consumption of junk diet amongst the youngsters is expected to further boost product demand.
North America region for food coating ingredients market is expected to foresee substantial growth due to increasing demand for meat & poultry confectioneries and products. Substantial increase in cereals, snacks and fruits & vegetables export coupled with diversified consumer base spread across various regions pushed product application for preservation.
Food coating ingredients industry is fragmented with presence of various regional & international players in the industry. Some of the key players are Cargill, Archer Daniels Midland Company, Bowman, Ashland, Tate & Lyle, DU Pont, Dohler Group, Kerry Group, Agrana Group, Tate & Lyle and PGP International.
The companies are engaged in the constant strategic initiatives including, merger & acquisition and joint ventures to capture the industry share. In addition, steps are taken towards capacity enhancement by major companies including Dohler and Archer Daniels Midland Company to increase global footprint. Prominent firms are further working to diversify the product range to obtain competitive edge over other players in the industry.
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