Market Research Report
Global Food Coating Ingredients Market - Growth, Trends, and Forecast (2018 - 2023)
|Published by||Mordor Intelligence LLP||Product code||389839|
|Published||Content info||110 Pages
Delivery time: 1-2 business days
|Global Food Coating Ingredients Market - Growth, Trends, and Forecast (2018 - 2023)|
|Published: May 5, 2018||Content info: 110 Pages||
The global food coating ingredients market is estimated to grow from USD 2.8 billion in 2017 to USD 3.8 billion by 2023, at a CAGR of 6.21%. Food coating plays a crucial role in food processing by controlling a the development, texture, and taste profiles of a product. Depending on the particular food application, coating ingredients can be liquid or solid. Food coatings play a major role in the processed food industry.
Food coating is an instantaneous application of ingredients in a particular pattern that contributes to the taste, textural, and sensory aspects of processed food products. Coating is an important processing operation that plays a vital role in controlling the development, arrangement, and texture and taste structures of a product. It not only adds value to food product development but also enhances the product quality and promote ease of further processing. Increase in demand from application Industries namely confectionery, bakery, fried foods and ready-to-eat foods, especially in developed countries, are strengthening the growth of food coating ingredients market across the globe.
There is inclining demand for healthy and clean-label coating ingredients. The encapsulation technique has been touted as suitable option to deliver nutraceuticals in convenient formats. Food items are being coated with vitamins and nutrients to enhance the nutritional profile. Stringent rules and regulations laid down by government bodies in North America, and Europe is likely to hamper the market growth. Also, the inclination of FDA and European Commission towards preventing the usage of additives and chemicals in Food & Beverage industry is expected to restrain the market.
The global food coating ingredients market is segmented based on type, application, and geography. Sugars and syrups followed by cocoa & chocolates are dominating segment due to their long history of use and expanding scope of application. Cocoa & chocolate market is anticipated to be valued at over USD 910 million in the next seven years, at a CAGR of 7.2% from 2018 to 2023. These ingredients significantly contribute towards color, taste, and sweetness attributes to the food product being coated.
The greater inclination towards baked and confectionery products in developing countries is expected to be major growth driver for the food coating ingredients market. However, the high calorific values of certain indulgent coating ingredients is expected to act as a restraint for food coating ingredients market during the forecast period.
North America and Europe are the two leading regions in food coating ingredients market due to growth in consumption of dairy and bakery products. The food coating ingredients is a fragmented market, with the leading companies driving the growth. Investments & expansions formed the most preferred strategy among the key players to attract and retain new customers, globally. They also focused on acquiring local players of emerging markets to expand their business on a global scale and sustain the competition prevailing in the market. New product launches also helped major players in strengthening their product portfolio.
November 2015 - Avebe launched a clean label food coating Eliane™ Bind 12, it is primarily a potato starch that allow food manufacturers to create high quality and crispy coatings for fish and meat.
August 2017 - Recently Korean scientists have revealed that a plant-derived sprayable nanocoating could not only prolong the shelf life of fruits but also provide additional nutrients in a timesaving technique that allows the mass coating of perishable produce.
September 2017 - Kroner-Starke launched a range of native wheat-based starches, including organic and gluten-free, for clean label battered and breaded products.
November 2017 - Flo Chemical Corp. has recently provided solution in the form of Zein (a corn protein) for the search for clean label alternatives to glycerin for PepsiCo. Zein is extensively applied for coating enriched rice and confections. It has also demonstrated better coating efficiency than Shellac because zein coating solutions dry faster offering extended shelf life.
Major players - ABS FOOD INGREDIENTS, AGRANA BETEILIGUNGS-AG, ARCHER DANIELS MIDLAND COMPANY (ADM), ASHLAND INC., CARGILL INCORPORATED, CODRICO, DU PONT, INGREDION INCORPORATED, KERRY GROUP PLC., ROQUETTE, among others.
Reasons to Purchase this Report
Analyzing outlook of the market with the recent trends and Porters five forces analysis
Market dynamics, which essentially consider the factors, which are impelling the present market scenario, along with growth opportunities of the market in the years to come
Market segmentation analysis, including qualitative & quantitative research incorporating the impact of economic & non-economic aspects
Regional and Country level analysis integrating the demand and supply forces that are influencing the growth of the market
Competitive landscape involving the market share of major players, along with the key strategies adopted for development in the past five years
Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
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