Food Coating Ingredients Market Outlook 2031
The Food Coating Ingredients Market was USD 3.50 Billion in 2022 and is likely to reach USD 6.12 Billion by 2031, expanding at a CAGR of 6.4 % during 2023 – 2031. Growth of the market is attributed to increasing demand in the food industry.
Food coating ingredient is nothing but a thin film coating on a certain surface of foods. These coating ingredients are used for better test and prolong life of foods.
Food coating is a part of food processing, used to increase the quality of product, texture, and food appearance. Various types of ingredients used such as sugar and syrups, different food colors, and batter. Coating ingredient applied on the food surface by using different processes such as spraying, pouring and mixing.
The Covid-19 pandemic affected the demand and supply of food coating ingredient market. Lockdown across the globe, supply chain disorders, and oscillating supply of raw materials forced manufacturers to shut down production leading to unfortunate decline in market growth. Launch of vaccines to combat the Covid-19 pandemic is expected to contribute to the market growth over the forecast period.
Food Coating Ingredients Market Trends, Drivers, Restraints, and Opportunities
- Increasing demand for food coating ingredients across the food industry and other related sectors is expected to boost the market.
- Customers willing to eat process foods, frozen, and ready to eat foods is expected to drive the global food coating ingredients market.
- Strict rules and regulations by the government bodies about clean label coating ingredients have hampered the growth of the market.
- Food and Drug Administration (FDA) and European commission has restricted use of synthetic colors as a coating ingredient due to claim of carcinogenicity, which is projected to hinder the market growth.
Scope of Food Coating Ingredients Market Report
The report on the food coating ingredients market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Food Coating Ingredients - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Types (Sugars & Syrups, Cocoa & Chocolates, Fats & Oils, Spices & Seasonings, Flours, Batter & Crumbs, and Others), Applications (Bakery, Confectionery, Snacks, Dairy, Meat, and Others)
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report
Associated British Food PLC; Pioneer Food Group; Cargill incorporated; Agrana Beteiligungs-Ag; Archer Daniels Midland Company
Food Coating Ingredients Market Segment Insights
The sugars & syrups segment is expected to grow at a rapid pace
Base on the types, the food coating ingredients market is segmented into sugars & syrups, cocoa & chocolates, fats & oils, spices & seasonings, flours, batter & crumbs, and others. The sugars & syrups segment is expected to grow at a rapid pace during the forecast period due to raising demand in the food and medical industries for coating the food and medicines. However, the batter and crumbs segment are expected to grow because of raising popularity of junk food between the youngsters.
The confectionery segment is projected to expand at a considerable CAGR
On the basis of application, the food coating ingredients market is segregated into bakery, confectionery, snacks, dairy, meat, and others. The confectionery segment is projected to expand at a considerable CAGR during the forecast period due to increasing utilization of confectioneries such as pastries, wafer bars, candies, and fondant in children, specifically chocolate coated products. Due to increasing demand for confectionery products, new techniques such as electrostatic coating enhance the production rate and meeting the consumer’s demand.
North America and Europe is anticipated to constitute a key market share
In terms of regions, the food coating ingredients market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America and Europe is expected to constitute a key share market during the projected period due to growing consumption of bakery and dairy products. However, Asia pacific is anticipated to expand at a rapid pace during the forecast period due to the increasing popularity of ready to eat products between the working populations.
The food coating ingredients market has been segmented on the basis of
- Sugars & Syrups
- Cocoa & Chocolates
- Fats & Oils
- Spices & Seasonings
- Batter & Crumbs
Key players competing in the food coating ingredients market include Associated British Food PLC; Pioneer Food Group; Cargill incorporated; Agrana Beteiligungs-Ag; Archer Daniels Midland Company.
These key players are constantly implementing several marketing strategies such as merger & acquisitions, capital investments, partnerships, and new product development to sustain industry position in the market.