The report “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”, 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 market is driven by factors such as rising demand for meat & seafood, poultry, bakery products, and confectionery products, growing demand for processed & convenience food, increased focus on production efficiency, processing time, and quality of food products, growing demand for innovative food coating products due to changing consumer trends.
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Targeted Audience:
- Regulatory and research organizations
- Coated food producers, suppliers, and distributors
- Equipment manufacturers, traders, distributors, and dealers
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.
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Asia Pacific is also projected to be the fastest-growing market for food coating equipment. The growth of the coating equipment market is led by rapid industrialization, growing demand from various applications, and increasing government spending on supporting food manufacturers & processors in the modernization of their technologies and processes. 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 the favorable support of the government and low labor cost.
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.
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).
