The global food coating ingredients market is expected to reach $3,698.6 million in 2020, progressing at a CAGR of 5.8% during 2015–2020. The rising consumption of bakery and confectionery, increasing demand for convenience foods, and growing consumer requirement for food protection agents are the key factors driving the market across the globe.
Insights into market segments
On the basis of type, the sugars and syrups category is expected to witness the fastest growth in the food coating ingredients market during 2015–2020. Sugars and syrups have been used for many years as coating ingredients, as they offer certain desirable properties, including sweetness, color and taste, to the items being coated. North America was the largest market for sugars and syrups in 2014.
Asia-Pacific (APAC) is anticipated to be the fastest growing food coating ingredients market
Geographically, APAC is projected to witness the fastest growth in the market during the forecast period. This can be attributed to the surging demand for processed food products, rising population, increasing disposable income, and change in lifestyle in the region. Countries such as India, Australia, and China are predicted to witness considerable progress the for the APAC food coating ingredients market.
Growing consumer for food protection agents demand escalates the market growth
The demand for food coating ingredients is growing at a fast pace, as they are used for the preservation of various food products. Due to busy lifestyle, the consumption of processed foods is increasing, which is augmenting the demand for food preservation. Meat and poultry products generally require food coatings to prevent agglomeration, adhesion, or disintegration. Moreover, fruits and vegetables also require coating for protection against moisture loss.
Food coating ingredients market competitiveness
The food coating ingredients market is highly competitive with the presence of a noticeable number of players. Major players are focusing on mergers and acquisitions, facility expansions, and production capacity expansion in order to strengthen their presence in the market. However, in the recent past, mergers and acquisitions have been the major activities in the market. For instance, in March 2014, Balchem Corporation acquired SensoryEffects, a U.S.-based food ingredients and finished foods manufacturing company, for $567 million. Through the acquisition, Balchem Corporation added customized food and beverage solutions (including ingredients, bases, and finished foods) to its product portfolio.
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Some of the key players operating in the global food coating ingredients market include Ingredion Incorporated, Archer Daniels Midland Company (ADM), E.I. du Pont de Nemours and Company, Agrana Beteiligungs AG, Ashland Inc., Cargill Inc., Kerry Group, Döhler GmbH, PGP International Inc., and Balchem Corporation.
FOOD COATING INGREDIENTS MARKET SEGMENTATION
Market Segmentation by Type
Market Segmentation by Application
Market Segmentation by Region