By 2022, the food coating ingredients industry is projected to be worth US$ 3.5 billion, growing at a 6.4% CAGR between 2022 and 2032. Sales of food coating ingredients are predicted to make up 27% of the entire food coating market.
Future Market Insights, in its new offering, brings credible insights into the growth prospects of the food coating ingredients market. Several food coating ingredients continue 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.
Food coating ingredients are used in a variety of applications, including snacks, meat, bakery items, and morning cereal. Due to the fast-changing lifestyles of consumers as a result of rapid urbanization, high demand for ready-to-eat and ready-to-cook meat, bakery products, and confectionery products, will propel the demand in the market.
Food coating ingredient sales grew at a CAGR of 6.0% between 2017 and 2022, according to Future Market Insights (FMI). Preference for protein-based foods, the rising popularity of frozen foods, and increased snacking frequency are boosting the demand for food-coating ingredients in the market.
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.
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Food Coating Ingredients Market Players — Key Insights
Some of the key players operating in the food coating ingredients industry 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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Food Coating Ingredients Market by Category
By Ingredient:
- Cocoa & Chocolate
- Fats & Oils
- Flours
- Breeders
- Batter
- Sugars & Syrups
- Salts, Spices, and Seasonings
- Others
By Form:
- Dry
- Liquid
By Application:
- Meat & Seafood Products
- Confectionery Products
- Bakery Products
- Bakery Cereals
- Snacks
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- The Middle East and Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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