Dublin, Aug. 13, 2018 (GLOBE NEWSWIRE) -- The "Food Coating Market by Ingredient Type (Batter, Flours), Application (Bakery, Snacks), Equipment Type (Coaters & Applicators, Enrobers), Form (Dry, Liquid), Mode of Operation (Automatic, Semi-Automatic), and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The Food Coating Market is projected to reach 5,936.3 USD Million by 2023 at a CAGR of 4.98% from 2018-2023
The food coating ingredients and equipment markets are estimated to be valued at USD 2.73 billion and USD 1.93 billion, respectively, in 2018 and are projected to reach a value of USD 3.62 billion and USD 2.31 billion by 2023, respectively, at a CAGR of 5.8% and 3.7% from 2018 to 2023.
The market is primarily driven by factors such as rising demand for meat, seafood, poultry, bakery products, snacks, and confectionery products, growing demand for processed and convenience food, and increased focus on production efficiency, processing time, and quality of food products.
On the basis of application, the food coating market is segmented into confectionery products, bakery products, snacks, meat & seafood products, and breakfast cereals. The meat & seafood segment is estimated to account for the largest share in both, the food coating ingredients and food coating equipment market in 2018; however, confectionery products is estimated to be the second-largest for food coating ingredients and bakery products segment is estimated to be second-largest in the food coating equipment market in 2018.
Increased demand for confectionery products in emerging economies such as China and India are expected to drive the food coating ingredients market in the confectionery products industry. Further, with lifestyles becoming increasingly hectic, the consumption of bakery products is growing, as they are a convenient snacking option at a reasonable price. The wide-scale usage of enrobers as coating equipment in bakery products such as biscuits, cakes, donuts, bread, and other bakery products is expected to drive the food coating equipment market in this industry.
On the basis of mode of operation, the food coating equipment market is segmented into automatic, and semi-automatic. The semi-automatic segment is projected to grow at the highest growth rate in the next five years. Semi-automatic food coating equipment is usually adopted by small- and medium-scale manufacturers, as their production scale is limited. Developing countries in the Asia Pacific and South American regions that have a large number of small and medium manufacturers of food processing products utilize semi-automated equipment. Limited investment capacity and high labor availability are the major drivers that have led to the use of semi-automated equipment in these regions.
On the basis of ingredient form, the liquid segment is estimated to account for a larger market share in 2018, followed by the dry segment. Liquid coating is used in formulations of bakery products, flavored nuts, ice cream coatings, granola bars, and confectioneries such as candy bars. Coatings include fat-based formulations that are melted and applied to solid food products such as nuts, cakes, doughnuts, cookies, sugar wafers, ice cream bars, and fruit pieces by manufacturers for the addition of flavors.
For instance, liquid food coating ingredients such as batter are used in products such as chicken nuggets and wings. Batter coatings add color, flavor, texture, and extend the shelf life of these products, thus boosting the demand for liquid food coating ingredients in the region. Furthermore, the shift in demand for convenience food, especially in the developing Asia Pacific and South American regions owing to rapid urbanization, is expected to boost the demand for dry food coating ingredients. Bakery items such as bread, confectionery products such as chocolates, snacks such as potato chips and French fries, and meat & seafood gaining popularity in these regions require coating, which, in turn, requires food coating ingredients.
The North American region is expected to dominate the food coating market during the forecast period. The region is backed by superior food coating technologies and utilizes automatic equipment for coating food ingredients. Consumers in the US and Canada majorly consume salty snacks such as potato chips, which need dry coating. Apart from this, these countries consume frozen food that requires a coating for extended shelf life. Consumers in this region opt for cereal as breakfast options which also require coating. The US is also a huge market for confectionery products. According to an article published by the National Confectioners' Association, the confectionery market in the US is expected to reach USD 38.10 billion by 2020.
The major restraining factor for the food coating equipment market is the rising prices of ingredients and their subsequent fluctuations and shift towards fresh food products. In developed countries such as the US, Germany, and the UK, the demand for new foods among consumers, changes in their eating habits, and food safety risks are affecting the food processing industry.
The rise in the aging population in developed countries has also led to growing health concerns, owing to which they prefer fresh, farm grown, and less processed food products where no synthetic ingredients are used. These factors are expected to restrict the growth of the food coating market in the long run.
Some of the major companies in the food coating ingredients market include Cargill (US), Archer Daniels Midland Company(US), Kerry Group (Ireland) while the major players in the food coating equipment market include GEA Group (Germany), Marel (Iceland), and JBT Corporation (US).
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Food Coating Ingredients Market
4.2 Food Coating Equipment Market, By Region
4.3 Food Coating Market, By Ingredient Type
4.4 North America: Food Coating Market, By Ingredient Type & Country
4.5 Food Coating Ingredients Market, By Application & Region
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Growing Food Processing in Meat, Bakery, Snacks, and Breakfast Cereal
5.2.1.2 Rising Demand for Processed, Prepared, and Convenience Food
5.2.1.3 Increased Focus on Production Efficiency, Processing Time, and Quality of Food Products
5.2.2 Restraints
5.2.2.1 Rising Costs of Production Due to Fluctuating Ingredient Prices
5.2.2.2 Shift Toward Fresh Food Products
5.2.3 Opportunities
5.2.3.1 Emerging Regional Markets
5.2.3.2 Growing Investment Opportunities in the Development of New Food Coating Technology
5.2.4 Challenges
5.2.4.1 Infrastructural and Regulatory Challenges in Developing Countries
6 Food Coating Market, By Ingredient Type
6.1 Introduction
6.2 Cocoa & Chocolate
6.3 Fats & Oils
6.4 Flours
6.5 Breaders
6.6 Batter
6.7 Sugars & Syrups
6.8 Salts, Spices, and Seasonings
6.9 Others
7 Food Coating Market, By Ingredient Form
7.1 Introduction
7.2 Dry
7.3 Liquid
8 Food Coating Market, By Equipment Type
8.1 Introduction
8.2 Coaters & Applicators
8.2.1 Breading Applicators
8.2.2 Flour Applicators
8.2.3 Batter Applicators
8.2.4 Seasoning Applicators
8.2.5 Other Coaters & Applicators
8.3 Enrobers
9 Food Coating Market, By Mode of Operation
9.1 Introduction
9.2 Automatic
9.3 Semi-Automatic
10 Food Coating Market, By Application
10.1 Introduction
10.2 Food Coating Ingredients Market, By Application
10.2.1 Meat & Seafood Products
10.2.2 Confectionery Products
10.2.3 Bakery Products
10.2.4 Breakfast Cereals
10.2.5 Snacks
10.3 Equipment
10.3.1 Meat & Seafood Products
10.3.2 Confectionery Products
10.3.3 Bakery Products
10.3.4 Breakfast Cereals
10.3.5 Snacks
11 Food Coating Market, By Region
12 Competitive Landscape
12.1 Overview: By Ingredient
12.2 Overview: By Equipment
13 Company Profiles
13.1 Cargill
13.2 Kerry Group
13.3 Archer Daniels Midland Company (ADM)
13.4 Ingredion Incorporated
13.5 Newly Weds Foods
13.6 PGP International
13.7 Tate & Lyle PLC
13.8 Bowman Ingredients
13.9 Marel
13.10 GEA Group
13.11 Bhler AG
13.12 JBT Corporation
13.13 TNA Australia Pty Limited
13.14 Dumoulin
13.15 Clextral
13.16 Spice Application Systems
For more information about this report visit https://www.researchandmarkets.com/research/tb8rzw/food_coating?w=12
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