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.
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.
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summary of this report @ http://www.grandviewresearch.com/industry-analysis/food-coating-ingredients-market
Further key findings from the study
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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this category @ http://www.grandviewresearch.com/industry/food-additives-nutricosmetics-flavors-and-fragrances
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