The world market for food coating materials was valued at US$ 3.19 billion in 2018, and with a compound annual rate of 5.8% during the forecast period, it will reach around US$ 5.52 billion by 2025. Food coating is a step necessary in the processing industry. Food coatings are applied to a wide variety of foods to improve their nutritional profile and texture. They vary depending on the nature of the substrate used and the ingredients of the food coating and can also mix two surfaces naturally.
- In November 2019, Tate & Lyle, a supplier of food and beverage materials and solutions, announced the opening of a new and expanded Latin American headquarters in Sao Paulo, Brazil.
- In November 2019, the Cargill-Royal DSM joint venture, Avansya, began commercial production of EverSweet™, a non-artificial stevia sweetener without calories, at a new fermentation facility in Nebraska, USA.
Market Drivers and Restraints:
Changes in consumer preferences for healthy foods and increased consumption of fried and bakery products are driving the growth of the world market for food coating ingredients in developed countries. The growth of the food processing industry will lead to the demand for food coating ingredients in the near future. As the need to keep food fresh and durable, it contributes to the growth of the food coatings market. It is also suspected that the demand for antimicrobial coatings will drive the innovation of the food coatings ingredients industry. The use of antimicrobial ingredients for food coating also depends on the presence of supporting regulations in many regions. The growing concern for the safety of processed foods has led to legislation in many areas that require the use of antimicrobial food coatings.
Higher material costs lead to higher production costs, resulting in lower margins and more time to achieve break-even points for food manufacturers, making it even more difficult for them to adopt new coating technologies.
Report Segmented as:
The food coating ingredients market is classified by applications that include vegetables and fruits, dairy products, sweets, meat and poultry products, nutritional bars and snacks, and bakery products.
By type, the global market is divided into hydrocolloids, spices, salts, fats and oils, syrups and sugars, cocoa and chocolate, starch, flour, etc.
North America and Europe are critical regions of the market for food coating ingredients due to the higher consumption of dairy and confectionery products. The Asia-Pacific region shows significant growth as demand for the dairy and confectionery sectors increases. Considerable growth in the agricultural sector of developing countries such as China and India contribute to the growth of the market for food coating ingredients in APAC.
Rapid urbanization, higher living standards and more considerable investments in emerging economies open up new opportunities for growth in Latin America. The Arab countries of the Middle East have invested heavily in food processing technology, strengthening the market for food coating ingredients in the coming years.
Key market players:
The most prominent players in the world market for food coating materials are PGP International Inc., Archer Daniels Midland Company, Cargill foods, Tate & Lyle Plc., Dohler Group and Agrana Group.
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Scope of the report:
The report offers a comprehensive examination of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along with this, the factors influential in influencing the market dynamics and trends discussed in detail at the product level. Further, the performance of the market at the regional and country-level had assessed and the prospects with huge growth potential identified and debated.
The key players in the industry are profiled giving insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategical activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry had provided. The report also provides a broad outlook of the current market along with recommendations from industry experts on the opportunities for investment activity.
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