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Food coating is a major step in food processing as it imparts new sensory, textural, and nutritional properties to the product. The food coating agents market is expected to witness rapid growth across the globe because of the rising trend of processed foods consumption. Food coating agents can be used to achieve the superior melting points of the product, which has a wide array of applications in ready to cook foods.
In recent years, companies are focusing on technical developments related to food coating agents to cater to the growing demands of processed foods. The manufacturers of coating agents are focusing on the development of coatings, which can add nutritional values in the form of vitamins and minerals to the product through coating agents. Coating agents can also be used for product preservation.
Key Market Driver -
Increase in Consumption of Processed Foods
Key Market Restraint -
Rapid Increase and Fluctuations in Coating Ingredient Prices
The growth in demand for processed foods such as ready to cook (RTC) and ready to eat (RTE) foods due to changing lifestyles is expected to fuel the growth of the food coating agents market. Cereals-based food coatings such as breaders and batters are used in RTC and RTE products. The increasing consumption of bakery products, as well as confectionaries, is expanding the market for coatings agents such as glazing agents, powders and chocolate coatings. The development of innovative functional coatings such as antioxidant coatings, antimicrobial coatings, and edible fortified coatings is expected to drive the growth of the industry.
The increase in the cost of raw materials used in coating agents such as oils and grain-based coatings is expected to impede the growth of the market.
Some of the major key players and competitors of food coating agents market are Cargill, Incorporated (U.S.), Döhler Group (Germany), Kerry Group (Iceland), PGP International Inc. (U.S.), ABS Food Ingredients, Newly Weds Foods (U.S.), Bowman Ingredients (U.K.), DuPont de Nemours, Inc. (U.S.), Ingredion Incorporated (U.S.), FCI Ltd (Thailand). Companies are launching new products as a result of an increase in the requirement of these products.
The global food coating agents market is segmented by type, application, and geography. Based on the type, the market is divided into sugar coatings, chocolate coatings, oil-based coatings and cereal-based coatings. Chocolate coatings are expected to witness the highest growth due to rising demand for confectionery and bakery products across the globe. The market for cereal-based coatings is expected to exhibit decent growth on account of the increasing demand for snacks, RTE & RTC products.
On the basis of application, the market is segmented into confectionery products, bakery products, ready-to-eat & ready-to-cook products and others such as frozen foods & functional foods. The application in confectionary followed by the bakery sector is expected to be highest as a result of the increase in consumption of chocolate and its derivative products and bakery products.
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North America and Europe have captured most of the market of food coating agents due to the rising trend of consumption of RTE and RTC products. The demand for frozen foods is increasing in these developed regions. This will drive the growth of the market in these regions as frozen foods are coated in order to increase shelf life and improve taste and texture. The Asia Pacific and the Middle East regions have the fastest growing market for food coating agents on account of increasing demand for bakery and confectionery products.
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