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Region : Global | Published Date: Upcoming | Report ID: FBI100548| Status : Upcoming
The global food coating market is expected to grow at a considerable pace during the forecast period, due to increasing demand for processed and ready-to-eat food products across the globe. Rising demand for food products such as baked goods, confectionery products, chocolates, snacks, and others is expected to foster the growth of global food coating market in the forthcoming years.
Key companies operating in the global food coating market are focusing on merger and acquisition activities and launch of innovative and sustainable products to remain prominent in the market. Archer-Daniels-Midland Company (USA), Cargill Incorporated (USA), and Kerry Group plc (Ireland) are some of the key companies performing in the global food coating market.
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Food coating plays a crucial role in food processing procedure, as it can balance the taste, texture, and several other properties associated with food. With the growth in food processing industry, the demand for quality food coating ingredients is expected to witness a steep rise during the forecast years.
Growing consumer inclination towards healthy eating is projected to aid the demand for nutritional and anti-microbial food coating ingredients, which is projected to contribute to the growth of the global food coating market. Increased product launch by key market players, coupled with rising demand for convenience and processed food products is further anticipated to foster the market growth in the upcoming years. Furthermore, advancement in food coating technology and equipment is expected to fuel the food coating market growth.
Strict regulations by food regulatory authorities and government on commercialization and usage of food coating ingredients is projected to hinder the market growth during the forecast years.
Some of the major companies that are present in the global food coating market are Cargill Incorporated (USA), Archer-Daniels-Midland Company (USA), Tate & Lyle plc (United Kingdom), Kerry Group plc (Ireland), Dohler GmbH (Germany), John Bean Technologies Corporation (USA), PGP International Inc. (USA), GEA Group AG (Germany), Bowman Inc. (USA), and Marel Inc., (Iceland) among the other players operating in the global food coating market.
By Product Type
· Sugar & Syrups
· Cocoa & Chocolate
· Fats & Oils
· Meat & Seafood
· Dairy & Cereal
· North America (U.S., Canada, and Mexico)
· Europe (France, Germany, Italy, Spain, U.K., Russia, and Rest of Europe)
· Asia Pacific (China, India, Japan, Australia, and Rest of Asia Pacific)
· South America (Brazil, Argentina, and Rest of South America)
· Middle East & Africa (South Africa and Rest of ME&A)
On the basis of product type, the global food coating market has been segmented into flours, sugar & syrups, hydrocolloids, cocoa & chocolates, and fats & oils. The cocoa & chocolate segment is anticipated to grow at a rapid pace in the forthcoming years, due to increasing demand for chocolate as coating material from bakery, confectionery, and other convenience food product market. Sugar & syrup segment is expected to witness considerable growth during the forecast years, owing to taste, texture, and color enhancing properties associated with the product.
On the basis of application, the global food coating market has been segmented into confectionery, bakery, meat & seafood, snacks, and dairy & cereals. Among these, the application of food coating in confectionery products, followed by meat & seafood is expected to grow at a rapid pace during the forecast years, due to the rapidly growing demand for confectionery products across the globe, especially in developing economies, such as India and China.
North America is projected to hold the major market share in the global food coating market during the forecast period, owing to high consumption of salty snacks (requires dry coating) in the region, coupled with increasing consumption of frozen food products in countries, such as US and Canada. Presence of advanced food coating equipment and coating technologies is expected to contribute greatly in augmenting the growth of food coating market of North America during the forecast years. Asia Pacific is expected to grow at a faster pace during the forecast period, owing to the rapidly rising population of countries such as China and India, that has led to increased demand for processed food products in the region.