Food Coating Ingredients Market in depth analysis with Top Manufacturers, Production, Price, Revenue and Market Share, Consumption, Import and Export from 2017 to 2023
Inclining demand for health foods to drive the growth of food coating ingredients market
Food coating is a part of food processing activity that is used to improve the products structure, taste, and texture. Growing per capita income and changing lifestyles of consumers are driving demand for the growth of food coating ingredient market. In addition, changing consumers eating habit along changing taste preference and limited availability of time owing to busy lifestyle is making consumers depend on ready to eat food products. Furthermore, Increasing number of supermarkets and shopping marts together with the expansion of retail sector in India is anticipated to boost the demand in the ready to eat industry. However, the rising demand for processed food in emerging regions is expected to be the key trend in the near future for food coating ingredients market. Moreover, increasing popularity of outlets namely KFC and McDonald’s, increasing per capita income and consumer’s willingness to spend in developing economies is likely to experience growing demand in the future.
Asia Pacific to emerge as a most lucrative market over the upcoming years
Asia Pacific is the fastest growing region followed by North America and Europe in food coasting market. Omkar Harne a research analyst at Infinium Global Research quoted that the growth in the Asia-Pacific market for food coating ingredient is due to the rising processed food products demand, growing disposable income and growing population in this region. Omkar Harne further quoted that the strong demand for bakery and chocolate products along with remarkable growth in agriculture in India and China is expected to have a progressive impact on Global Food Coating Ingredients industry in the next 6 years. The growth in food coating ingredient in North America and Europe is due to increasing in consumption of dairy and bakery products. Expansion and investments among the key players made the most favored strategy, to recall new customers worldwide. Key players focused on obtaining emerging markets and local players to expand their business on a worldwide.
Mergers and Acquisitions to remain key expansion strategies of the leading players in the food coating ingredient market
Key participants profiled in the food coating ingredient market are include Bowman Ingredients, Ashland Inc., E. I. DU Pont DE Nemours and Company, and Archer Daniels. Moreover, Kröner-Stärke launched a range of native wheat-based starches, including organic and gluten-free, for clean label battered and breaded products. Recently revealed by Korean scientists that a plant-derived sprayable nanocoating could not only extend the shelf life of fruits but also provide additional nutrients in a timesaving technique that allows the mass coating of consumable produce. Furthermore, the Indian government has declared to promote food processing Special Economic Zones (SEZ) and food parks in an attempt to drive F&B market and draw the attention FDIs.On the other hand ,major companies such as Ashland Inc., Archer Daniels Midland Company, and Dohler are working to spread their product range and obtain an competitive edge in the growing regions such as Asia Pacific.