Global Food Coating Ingredients Market Insights Forecasts to 2032
- The Food Coating Ingredients Market Size was valued at USD 4.26 Billion in 2022.
- The Market is Growing at a CAGR of 7.5% from 2022 to 2032
- The Worldwide Food Coating Ingredients Market Size is expected to reach USD 8.78 Billion by 2032
- Asia-Pacific is Expected to Grow the fastest during the forecast period
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The Global Food Coating Ingredients Market is expected to reach USD 8.78 Billion by 2032, at a CAGR of 7.5% during the forecast period 2022 to 2032.
Food coating ingredients are substances used to enhance the visual appeal, texture, taste, and shelf life of food products. These ingredients are typically applied as coatings or batters to meat, poultry, seafood, vegetables, and other food items. Common coating ingredients include flours, starches, sugars, proteins, gums, and fats/oils. They serve as binding agents, adhesives, thickeners, and emulsifiers, and can be seasoned or flavored to enhance the taste of the food. Food coating ingredients can also provide a protective barrier against moisture loss, oxidation, and microbial growth, helping to extend the shelf life of products.
This research report categorizes the market for food coating ingredients market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the food coating ingredients market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segments of the food coating ingredients market.
Global Food Coating Ingredients Market Report Coverage
|Market Size in 2022:||USD 4.26 Billion|
|Forecast Period 2022-2032 CAGR:||7.5%|
|2032 Value Projection:||USD 8.78 Billion|
|Historical Data for:||2019-2021|
|No. of Pages:||200|
|Tables, Charts & Figures:||120|
|Segments covered:||By Product, By Form, By Application, By Region.|
|Companies Covered:||Cargill, Inc., Archer Daniels Midland Company, Ingredion Incorporated, Kerry Group PLC, PPG Industries, Inc., Bowman Ingredients, Bunge Limited, Tate & Lyle PLC, Dohler Group, Agrana Beteiligungs-AG, Ashland Global Holdings Inc., DowDupont, SensoryEffects, McCormick & Company, Inc., Newly Weds Foods, Inc., Kikkoman Corporation, Axium Foods, Inc.|
|Pitfalls & Challenges:||COVID-19 Empact, Challenge, Future, Growth, & Analysis|
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The drivers of the food coating ingredients market include increasing demand for processed and convenience foods, growing consumer preference for crispy and crunchy food textures, and rising awareness about the benefits of food coating ingredients in extending shelf life and improving the sensory properties of food products. Additionally, the trend towards healthy and natural ingredients, advancements in food technology, and the development of innovative coating ingredients with improved functionality are also driving the market. Furthermore, the expansion of food manufacturing industries in emerging markets, such as Asia-Pacific and Latin America, is creating new opportunities for food coating ingredient manufacturers to expand their market presence and meet the growing demand for quality and flavorful food products.
The restraints of the food coating ingredients market include the availability of alternative food processing technologies and techniques, such as sous-vide cooking and vacuum frying, which can achieve similar results without the need for coating ingredients. Moreover, concerns regarding the health effects of certain coating ingredients, such as high levels of saturated and trans fats, are limiting their usage in some applications. Additionally, fluctuations in raw material prices, stringent food safety regulations, and increasing competition from local and regional players are also challenging the growth of the market.
- In 2022, the sugars & syrups segment accounted for around 24.6% market share
On the basis of the product type, the global food coating ingredients market is segmented into cocoa & chocolate, fats & oils, flours, breaders, batter & crumbs, sugars & syrups, spices & seasonings, starches, and hydrocolloids. The sugars and syrups segment accounted for the largest market share in the food coating ingredients market due to several reasons. Sugars and syrups provide a sweet taste and enhance the flavor of food products, making them a popular choice for food coating. They also provide a smooth and glossy finish, which is appealing to consumers. Additionally, the versatility of sugars and syrups enables their use in a wide range of food products, including confectionery, bakery, and snacks. The increasing demand for natural and healthier food products has also driven the growth of this segment, with manufacturers developing innovative sugar and syrup-based coating ingredients.
- In 2022, the confectionery products segment dominated the market with more than 27.5% revenue share
Based on the application, the global food coating ingredients market is segmented into meat & poultry products, confectionery products, bakery products, ready-to-eat cereals, fruits & vegetables, and snacks. The confectionery products segment dominated the food coating ingredients market due to several reasons. Confectionery products such as chocolates, candies, and gum require a smooth and glossy finish, which can be achieved through the use of food-coating ingredients. Additionally, the use of coating ingredients in confectionery products enhances their flavor, texture, and appearance, making them more appealing to consumers. Moreover, the increasing demand for premium and indulgent confectionery products is driving the market growth in this segment. The availability of a wide range of coating ingredients such as chocolate, sugar, and cocoa powder, among others, is also driving the growth of the confectionery products segment in the market.
Regional Segment Analysis of the Food Coating Ingredients Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Rest of APAC)
- South America (Brazil and the Rest of South America)
- The Middle East and Africa (UAE, South Africa, Rest of MEA)
North America accounted for the largest revenue share of around 45.2% in 2022
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Based on region, North America held the largest market share in the food coating ingredients market due to several factors. The region has a highly developed food industry with a strong emphasis on innovation and product differentiation, driving demand for new and innovative food coating ingredients. Additionally, the increasing popularity of fast food and convenience foods has boosted the demand for food coating ingredients in North America. Moreover, the presence of key players in the region and the growing trend towards natural and organic food products has further fueled the market growth. The increasing demand for healthier food products and the growing interest in ethnic flavors are expected to further drive market growth in the region.
In November 2022, Solina, a prominent European manufacturer of savory ingredient solutions for the food industry, acquired Saratoga Food Specialties, a company based in the United States, to further expand its business in North America. With this acquisition, Solina is consolidating its presence in the United States, having already established a foothold in the country in 2021 through the acquisition of Asenzya, a provider of bespoke dry seasoning solutions based in Wisconsin.
The report offers the appropriate analysis of the key organizations/companies involved within the global food coating ingredients market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.
List of Companies:
- Cargill, Inc.
- Archer Daniels Midland Company
- Ingredion Incorporated
- Kerry Group PLC
- PPG Industries, Inc.
- Bowman Ingredients
- Bunge Limited
- Tate & Lyle PLC
- Dohler Group
- Agrana Beteiligungs-AG
- Ashland Global Holdings Inc.
- McCormick & Company, Inc.
- Newly Weds Foods, Inc.
- Kikkoman Corporation
- Axium Foods, Inc.
Key Target Audience
- Market Players
- Government Authorities
- Consulting and Research Firm
- Venture Capitalists
- Value-Added Resellers (VARs)
This study forecasts revenue at global, regional, and country levels from 2019 to 2032. Spherical Insights has segmented the global food coating ingredients market based on the below-mentioned segments:
Food Coating Ingredients Market, By Product
- Cocoa & Chocolate
- Fats & Oils
- Batter & Crumbs
- Sugars & Syrups
- Spices & Seasonings
Food Coating Ingredients Market, By Form
Food Coating Ingredients Market, By Application
- Meat & Poultry Products
- Confectionery Products
- Bakery Products
- Ready to Eat Cereals
- Fruits & vegetables
Food Coating Ingredients Market, Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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