(Food-Beverage-News.Com, January 23, 2020 ) The report "Food Coating Market by Ingredient Type (Batter, Flours), Application (Bakery, Snacks), Equipment Type (Coaters & Applicators, Enrobers), Form (Dry, Liquid), Mode of Operation (Automatic, Semi-Automatic), and Region - Global Forecast to 2023", The food coating ingredients and equipment markets are estimated to be valued at USD 2.73 billion and USD 1.93 billion, respectively, in 2018 and are projected to reach USD 3.62 billion and USD 2.31 billion, respectively, by 2023, at a CAGR of 5.8% and 3.7% from 2018 to 2023.
The market is driven by factors such as rising demand for meat & seafood, poultry, bakery products, and confectionery products, growing demand for processed & convenience food, increased focus on production efficiency, processing time, and quality of food products, growing demand for innovative food coating products due to changing consumer trends.
Some of the major players in the Food Coating Market are:
The types of food coating ingredients include cocoa & chocolate, fats & oils, flours, breaders, batter, sugars & syrups, salts, spices, and seasonings, and others. The market has been segmented on the basis of ingredient form into dry and liquid. The type of food coating equipment market includes coaters & applicators and enrobers, wherein the coaters & applicators segment is further bifurcated as breading applicators, flour applicators, batter applicators, seasoning applicators, and other coaters & applicators. The market has been segmented on the basis of mode of operation into automatic, and semi-automatic. The applications of food coating include confectionery products, bakery products, snacks, meat & seafood products, and breakfast cereal. On the basis of key regions, the food coating market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW).
The food coating market is driven by factors such as rising demand for meat, seafood, poultry, bakery products, snacks, and confectionery products, growing demand for processed and convenience food, and increased focus on production efficiency, processing time, and quality of food products.
On the basis of application, the confectionery products segment is projected to be the fastest-growing segment in the food coating ingredients market during the forecast period. Increase in demand for high-quality chocolate in developing Asian countries is expected to create a robust opportunity, especially for chocolate manufacturers, to expand in the country. Thus, food coating ingredients are expected to gain immense popularity among chocolate manufacturers in the coming years. Likewise, the meat & seafood segment is projected to be the fastest growing segment for the food coating equipment market during the forecast period. The growing demand for crunchy & crispy products is stimulating the growth for breaded products in the meat & seafood industry, which shows a positive outlook for the growth in demand for breading applicators in the food coating equipment industry. Further, the quickly growing economy, retail chain expansion, product competition in terms of taste, appearance, along with new product innovations in the meat & seafood industry, are expected to accelerate the demand for coating equipment in the food coating industry.
The Asia Pacific region is projected to be the fastest-growing market for food coating from 2018 to 2023. Regional markets such as India, China, and Japan are projected to drive the growth of food coating ingredient and equipment in the region, owing to the rising income, purchasing power, rapid growth of the middle-class population, and increasing consumer demand for premium and convenience products provide promising prospects for growth and diversification in the region’s food sector. Also, the expected growth in the number of food processing units in this region is further projected to boost the supply and consumption of food coating equipment.
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.