You are here
Food Coating Market Analysis, Growth, Trends, Share, & Forecast to 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 USD 3.62 billion and USD 2.31 billion, respectively, by 2023, at a CAGR of 5.8% and 3.7% from 2018 to 2023.
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.
The cocoa & chocolate segment is estimated to account for the largest share of the food coating market, by ingredient type, in 2018.
On the basis of ingredient type, the cocoa & chocolate segment is estimated to account for the largest share of the food coating market in 2018 followed by fats & oils. The rapidly increasing demand for chocolate products from multiple food applications such as bakery products, confectionery products, and convenience food are expected to accelerate the demand for cocoa & chocolate food coating. This growth can be seen in emerging regions such as Asia Pacific, where, due to economic growth and improved income levels, people are demanding more premium food and ready meals.
Meat & seafood segment is estimated to account for the largest market share in the food coating market, by application in 2018
On the basis of application, the meat & seafood segment is estimated to account for the largest market share in 2018. The growing demand for crunchy & crispy products is stimulating the growth for breaded products in the meat & seafood industry, which shows a positive outlook for the growth in demand for breading applicators in the food coating equipment industry. Further, the fast-growing economy, retail chains expansion, product competition in terms of taste & appearance, along with new product innovations in the meat & seafood industry, are expected to accelerate the demand for equipment in the food coating industry.
Speak to Analyst: https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=168532529
North America is estimated to dominate the food coating ingredient market in 2018.
North America is expected to continue its dominant presence in the food coating ingredients 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 coating for an extended shelf life. Consumers in this region opt for cereal as breakfast options where coating is applied. The US is also a huge market for confectionery products. These factors have fueled the growth of the food coating market in North America.
This report includes a study of marketing and development strategies, along with the product portfolios of the leading companies. It includes profiles of leading companies such Marel (Iceland), GEA Group (Germany), Bühler AG (Switzerland), JBT Corporation (US), TNA Australia Pty Limited (Australia), Clextral (France), Dumoulin (France), Spice Application Systems (UK), Cargill (US), Kerry Group (Iceland), Tate & Lyle Plc (UK), Newly Weds Foods (US), PGP International (US), Archer Daniels Midland Company (US), Ingredion Incorporated (US), and Bowman Ingredients (UK).
Mr. Shelly Singh
630 Dundee Road
Northbrook, IL 60062
USA : 1-888-600-6441
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.