Global Food Coating Ingredients Market - 2023-2030

Global Food Coating Ingredients Market - 2023-2030

Global Food Coating Ingredients Market reached US$ 4.5 billion in 2022 and is expected to reach US$ 7.2 billion by 2030 growing with a CAGR of 6.1% during the forecast period 2023-2030.

Foods can be preserved or scented using coatings, which are made up of various materials and techniques. In these processes, the food is often battered, breaded, and coated. Baking ingredients and batter are used to create the food's exterior covering. Generally speaking, batters are liquid concoctions created from the blending of liquid elements like wheat, starch, spices, seasonings, water, or milk. Bread, flour, mixes, dry spices, and other ingredients are used to coat food when baking.

A growing number of consumers are concerned about their health and are seeking out healthier eating options. Manufacturers now offer baked products as nutritious ingredients to create rituals rather than the powder because to this propensity, which has led to the development of edible medicines with less fat, less sodium, and improved nutrition.

Market Dynamics

Growing Snacking Culture is Driving the Food Coating Ingredients Market

The culture of snacking is a result of shifting consumer tastes, where consumers are increasingly looking for meal options that are portable and convenient. Snacks are now frequently consumed throughout the day and are no longer just consumed during conventional mealtimes. The demand for a wide range of coated snack goods, including potato chips, popcorn, pretzels, and coated nuts, has increased as a result of this change in consumer behaviour.

The innovation in the creation of coated snack products has been sparked by the culture of nibbling. To draw customers, producers are coming up with intriguing new flavours, textures, and shapes. Extruded snacks, puffed snacks, coated popcorn, and coated almonds are just a few examples of coated foods. These products require the use of food coating ingredients to achieve the desired taste, crunch, and visual appeal.

Expansion of the Fast-Food Industry is Expected to Foster the Food Coating Ingredients Market

Globally and locally, fast-food chains have grown significantly in recent years. The growth of fast-food restaurants has been driven by the increase in urbanisation, shifting consumer lifestyles, and the need for quick and convenient eating options. 83% of American families dine at fast food establishments at least once a week, according to The Barbeque Lab. Due to this expansion, there is now a higher demand for coated food items such fried chicken, chicken nuggets, French fries, and other breaded foods, which has raised the need for the components used in food coating.

Consumers choose coated fast food items because of their crispy texture, savoury flavours, and decadent allure. Consumers frequently seek for coated fast food items because of their familiar and delicious taste, which contributes to the ongoing demand for these goods. Food coating ingredients play a crucial role in creating the desired texture, taste, and visual appeal of coated fast-food items, making them an essential component of the industry.

Stringent Regulations and Labeling Requirements is Holding Back the Food Coating Ingredients Market

Stringent regulations and labeling requirements can increase compliance costs for food coating ingredient manufacturers. Compliance with safety standards, quality control measures, and labeling regulations often requires additional resources and investments. These costs can impact the profitability and competitiveness of manufacturers, potentially limiting their ability to innovate and expand product offerings.

Regulations may impose restrictions or limitations on certain ingredients used in food coatings, such as artificial additives, preservatives, or allergenic substances. Compliance with these restrictions may require reformulation of products, sourcing alternative ingredients, or investing in research and development. Such challenges can hinder the introduction of new and innovative food coating ingredients into the market.

COVID-19 Impact Analysis

The COVID-19 Analysis includes Pre-COVID Scenario, COVID Scenario, and Post-COVID Scenario along with Pricing Dynamics (Including pricing change during and post-pandemic comparing it with pre-COVID scenarios), Demand-Supply Spectrum (Shift in demand and supply owing to trading restrictions, lockdown, and subsequent issues), Government Initiatives (Initiatives to revive market, sector or Industry by Government Bodies) and Manufacturers Strategic Initiatives (What manufacturers did to mitigate the COVID issues will be covered here).

Segment Analysis

The global food coating ingredients market is segmented based on type, form, application, and region.

By Application, the Meat & Poultry Segment is Estimated to have Significant Growth During the Forecast Period

Meat and poultry are staple protein sources in diets worldwide. These products enjoy widespread popularity and are consumed in large quantities across various cultures and cuisines. According to the National Chicken Council, the total per capita consumption of red meat & poultry, in 2022 was 226.8 pounds. The high demand for meat and poultry products translates into a substantial market opportunity for food coating ingredients.

Breaded and coated meat and poultry products, such as breaded chicken tenders, nuggets, cutlets, and coated fish fillets, are widely consumed globally. These products offer convenience, enhanced taste, and varied textures, making them appealing to consumers. Food coating ingredients play a crucial role in achieving the desired texture, appearance, and flavor profiles of these coated products.

Geographical Analysis

Asia Pacific is the Fastest Growing Market in the Food Coating Ingredients Market

The Asia Pacific region is home to a large and growing population, coupled with a rising middle class. This demographic trend has led to increased consumer spending power and higher disposable incomes. As a result, there is a growing demand for a diverse range of food products, including coated food items. The expanding population and rising disposable income act as catalysts for the growth of the food coating ingredients market in the region.

The Asia Pacific region has witnessed a significant increase in the demand for processed and convenience foods, including coated products. Rapid urbanization, changing dietary habits, and time constraints have led to a growing preference for ready-to-cook and ready-to-eat options. Food coating ingredients play a vital role in enhancing the taste, texture, and visual appeal of processed and convenience foods, thus driving the market growth in the region.

Competitive Landscape

The major global players in the market include Ashland Inc., Cargill Inc., Archer Daniels Midland Company, Associated British Foods PLC, Agrana Beteiligungs-Ag, Kerry Group, Tate & Lyle PLC, Ingredion Incorporated, Cooperatie AVEBE U.A., and Pioneer Foods.

Why Purchase the Report?
• To visualize the global food coating ingredients market segmentation based on product type, form, application, and region, as well as understand key commercial assets and players.
• Identify commercial opportunities in the market by analyzing trends and co-development.
• Excel data sheet with numerous data points of food coating ingredients market-level with all segments.
• The PDF report consists of cogently put-together market analysis after exhaustive qualitative interviews and in-depth market study.
• Product mapping is available as Excel consists of key products of all the major market players.

The global food coating ingredients market report would provide approximately 61 tables, 60 figures and 190 Pages.

Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies