Global food coating ingredients industry was valued at
USD 2.75 billion in 2014 and is expected to witness growth owing to its
increasing demand across various application segments, including poultry &
meat products, confectioneries and bakery products. Organoleptic properties of
ready-to-eat, bakery & confectionery, fried products and processed food
have the ability to absorb nutritional content which can be derived by using
food coating ingredients.
Emerging economies have been
experiencing growth in the fast food and confectioneries segment over the past
few years. This can be attributed to rising population, increasing disposable
income of consumers and their willingness to purchase services and products.
This has resulted in substantial expansion of popular food chains including KFC
and McDonalds. The industry is estimated to reach USD 4.44 billion by
2022.
Sugar & syrups emerged as the
largest segment of the market accounting for 30.2% owing to the growing demand
for bakery & confectionery products across the globe. In addition, its
increasing use as a Class-I preservative is expected to propel demand.
Germany food coating
ingredients market revenue by product, 2012-2022 (USD Million)
Browse full research report on
Food Coating Ingredients Market
Cocoa & chocolates is
expected to witness significant gains at a CAGR of 6.8% from 2015 to 2022.
Rising consumer awareness regarding the benefits of dark chocolate is expected
to fuel demand over the forecast period.
North America food coating
ingredients market contributed to 42.4% of the overall revenue in 2014 owing to
stable demand for ready-to-eat food particularly in the U.S. North America and
Europe are expected to witness significant growth owing to rising demand for
processed food as it is readily available and has a longer shelf life as
compared to raw products.
Asia Pacific is expected to
witness significant growth at a CAGR of 6.6% from 2015 to 2022 on account of
increasing meat consumption along with growing demand for bakery products
primarily in developing countries including India and China. Changing lifestyle
has resulted in altering eating patterns of consumers, which has resulted in a
growing demand for ready-to-eat foods including processed and frozen items over
the past few years. This trend is anticipated to continue over the forecast
period, thereby propelling industry growth.
Key market players include
Ashland Inc.Archer Daniels Midland Company (ADM), Agrana Beteiligungs-AG,
Cargill Inc., Bowman Ingredients, E. I. DuPont DE Nemours and Company, Dohler,
Ingredion Inc. PLC, Kerry Group, PGP International, Lyle PLC and Sensory
Effects Ingredient Solutions and Tate& Lyle.
Further key findings from
the report suggest:
- Global food
coating ingredients market size was valued at USD 2,752.8 million in 2014
and is expected to reach USD 4,441.6 million by 2022, growing at a CAGR of
6.1% from 2015 to 2022.
- Confectioneries
were the leading application segment and accounted for 23.8% of total
market revenue in 2014. Increasing disposable income levels coupled with
changing consumer lifestyle particularly in Asia Pacific and Latin America
is expected to drive this segment over the forecast period.
- North America
food coating ingredients market was the leading regional market and
accounted for 42.4% of total revenue in 2014. Stable demand for ready to
eat food particularly in the U.S. is expected to drive this region over
the next seven years. Asia Pacific is expected to register the highest
growth of 6.6% from 2015 to 2022. Growing meat consumption coupled with
increasing demand for bakery products particularly in India, China and
Indonesia is expected to drive the regional market.
- Key market
players include Archer Daniels Midland Company (ADM), Agrana
Beteiligungs-AG, Bowman Ingredients, Ashland Inc., Cargill Inc., Dohler,
E. I. DU Pont DE Nemours and Company, Kerry Group PLC, Ingredion Inc., PGP
International, Inc., Sensoryeffects Ingredient Solutions and Tate &
Lyle PLC.
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