Food Coating Market Size, Share, Growth, Trends, Competitive Landscape, Top Companies, and Regional Analysis

June 11 18:18 2024
Food Coating Market Size, Share, Growth, Trends, Competitive Landscape, Top Companies, and Regional Analysis
MarketsandMarkets™
Food Coating Market by Ingredient Type (Batter, Flours), Application (Bakery, Snacks), Equipment Type (Coaters and Applicators, Enrobers), Form (Dry, Liquid), Mode of Operation (Automatic, Semiautomatic) and Region – Global Forecast to 2028

The food coating equipment market is estimated at USD 5.7 billion in 2023 and is projected to reach USD 7.7 billion by 2028, at a CAGR of 6.3% from 2023 to 2028. The food coating ingredients market is estimated at USD 3.6 billion in 2023 and is projected to reach USD 4.9 billion by 2028, at a CAGR of 6.2% from 2023 to 2028. The food processing industry in the world is growing at a significant rate and is a key factor that is positively impacting the food coating ingredients in the world. Market expansion has been hampered by the rising demand for and consumption of processed food. The food’s shelf life is extended due to food coatings. The fast-paced lifestyle of modern society has led to an increased demand for convenience foods. Coated food products, such as pre-breaded frozen chicken nuggets or fish sticks, provide a quick and easy meal solution for busy individuals.

Food Coating Ingredients Market

Food Coating Market Growth Drivers:

Some of the food coating market growth drivers are:

1. Increasing demand for processed and convenient food: Consumers are increasingly busy and looking for convenient food options. Food coatings can help extend the shelf life of food products and make them more appealing to consumers.

2. Rising disposable incomes: As disposable incomes rise, consumers are willing to spend more on premium food products. Food coatings can add value to food products by improving their flavor, texture, and appearance.

3. Growing urbanization: Urbanization is leading to a rise in demand for packaged food products. Food coatings can help to protect food products from spoilage during transportation and storage.

Food Coating Market Trends:

1. Clean-label ingredients: Consumers are increasingly demanding food products made with clean-label ingredients. This is driving the demand for food coatings made with natural and organic ingredients.

2. Functional ingredients: Food coatings are increasingly being formulated with functional ingredients that offer health benefits. For example, food coatings can be fortified with vitamins, minerals, and antioxidants.

3. Sustainable packaging: There is a growing demand for sustainable packaging solutions. This is driving the development of food coatings that are biodegradable and compostable.

Food Coating Market Ecosystem Analysis

The market ecosystem for food coating encompasses various stakeholders and components involved in the production, distribution, and consumption of food coating products.

The key elements of the food coating market ecosystem:

1. Food Coating Manufacturers: These are the companies that specialize in producing food coating ingredients, equipment, and solutions. They develop and manufacture a wide range of coatings, including batter and breading mixes, seasonings, marinades, oils, fats, and specialized coating equipment.

2. Food Processing Companies: Food processing companies utilize food coating ingredients and equipment to enhance the taste, texture, appearance, and shelf life of their products. They incorporate food coatings into their production processes for various food items such as meat, poultry, seafood, bakery products, confectionery, snacks, and frozen foods.

3. Raw Material Suppliers: Raw material suppliers play a crucial role in the food coating market ecosystem. They provide ingredients like spices, herbs, flours, sugars, oils, fats, cocoa, starches, and various additives required for food coating formulations. These suppliers may include agricultural producers, ingredient manufacturers, and distributors.

4. Equipment Manufacturers: Equipment manufacturers produce and supply food coating equipment, such as coaters, applicators, enrobers, and other specialized machinery. These manufacturers focus on developing innovative technologies to improve coating efficiency, productivity, and quality.

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Based on application, the confectionery products is projected to witness the highest CAGR in food coating equipment market during the forecast period.

There has been a rising demand for confectionery products in the European region, which presents a mature market for the confectionery industry. Hence, this region is expected to show slow growth as compared to other regions. Confectionery is generally high in calories and carbohydrates but poor in micronutrients. Industry statistics show that, in terms of sales generated, the Western European region dominated the worldwide confectionery sector. Better-for-you products have become more popular as a response to health issues. The clean label movement has impacted the confectionery market because of the demand for colors that are derived naturally. Many food firms announced plans to reformulate their products to swap out artificial additives and streamline ingredient lists to meet this growing demand. Few companies have made acquisitions, with companies having a strong bakery processing equipment portfolio to enhance their product as well. Gea Group (Germany) has firmly moved into the bakery sector with the acquisition of Comas and Imaforni, the leading suppliers of demanding industrial processing equipment and solutions for the cakes, pies, cookies and biscuits, crackers, and snacks industry.

The Cocoa & Chocolates in by ingredient type segment accounted for the largest share of the food coating market in 2023 in terms of value.

Chocolate and cocoa are crucial ingredients that are used to make a variety of products, including cereal, protein bars, dried fruits, and nuts. These components are frequently used to add a delightful chocolate flavor to bakery and confectionery items. Enrobing, panning, and dipping are the three main techniques for coating foods like caramel or almonds in chocolate. The centers that will be covered in chocolate are transported via a machine during the enrobing process. Chocolate is sprayed onto revolving centers that are put on pans during panning, and then the chocolate is solidified by air that has been cooled. The centers are dipped, then cooled after being submerged in molten chocolate.

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The Asia Pacific market is projected to dominate the food coating equipment market.

The region’s growing demand for processed food, improved manufacturing industry growth over the past decade, and advancements in the food industry have provided new opportunities for the food coating ingredients market. An increase in processed and convenience food production and innovations in segments such as meat, snacks, and bakery & confectionery products drive the demand for coating ingredients in the Asia Pacific region. China and India are set to experience continual demand during the forecast period. Many global companies are focusing on these emerging markets and are increasing their footprint by setting up manufacturing facilities, distribution centers, and R&D centers. India is projected to be the fastest-growing market in the region as there are many investments being made by several multinational corporations due to favorable support of the government and low labor cost. The Asia Pacific food & beverage industry is greatly influenced by rising consumer preference for conscious food habits, the growing trend toward natural & organic foods, and the increasing demand for convenience food products. With emerging economies, growing industrialization, increasing demand for processed foods, and consumer preference for quality products, ingredient suppliers are optimistic about the growth of the food & beverage industry. These trends and preferences have associated with the increasing consumption of coated food products.

Top Companies in the Food Coating Market

Archer Daniels Midland (US),Kerry Group (Ireland), Cargill (US), Ingredion Incorporated (US), and DSM (The Netherland) are among the key players in the global food coating market. To increase their company’s revenues and market shares, companies are focusing on launching new products, developing partnerships, and expanding their production facilities. The key strategies used by companies in the food coating market include geographical expansion to tap the potential of emerging economies, strategic acquisitions to gain a foothold over the extensive supply chain, and new product launches as a result of extensive research and development (R&D) initiatives.

Cargill, Incorporated (US)

Cargill, Incorporated, a privately held US corporation, specialises in the manufacturing and distribution of different food components, bio-industrial goods, animal nutrition and health solutions, protein, and salt products, as well as agricultural supply chain services, financial services, and metals. Cargill’s commercial operations are divided into two major segments: specialty food ingredients and applications and bulk ingredients. As part of its specialty food ingredients and applications portfolio, the firm provides a wide range of food coating ingredients.

Cargill’s research and development centers are strategically placed throughout Europe and North America. With a global presence, the organization offers its services across Africa, Europe, Asia, Latin America, North America, and the Middle East. Cargill operates in 70 countries and has a 125-country distribution network.

Kerry Group plc (Ireland)

Kerry Group plc. is a prominent manufacturer and provider of food ingredients and flavors. The company specializes in producing and marketing food ingredients and flavors for the food, beverage, and pharmaceutical sectors. Kerry Group operates through two main business segments: Taste & Nutrition and Dairy Ireland. Under the Taste & Nutrition segment, the company offers a wide range of food coating products along with other food and nutrition-related ingredients such as emulsifiers and sweeteners.

With a strong emphasis on research and development, Kerry Group boasts a dedicated team of over 1,000 R&D scientists who work towards continuous innovation. The company supplies an extensive portfolio of more than 18,000 products to customers across 150 countries in Europe, the Middle East, and Africa (EMEA), the Americas, and Asia Pacific. Kerry Group operates 149 manufacturing facilities spread across 31 countries, ensuring a robust and efficient production network.

ADM (US)

ADM, which stands for Archer Daniels Midland Company, is involved in the production of food ingredients, animal feed and feed ingredients, biofuels, and natural alternatives to industrial chemicals. The company operates through three primary segments: agricultural services and oilseeds, carbohydrate solutions, and nutrition. Within its nutrition segment, ADM offers food emulsifiers and provides a diverse range of high-quality food coating products for various applications.

ADM has a global presence with processing and manufacturing facilities located across the United States and other parts of the world. It serves the baking industry with a wide selection of over 400 essential baking ingredients on a global scale. The company has a strong market presence in North America, South America, and Europe. Furthermore, ADM has established a robust distribution network that covers more than 170 countries, ensuring widespread availability of its products.

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