Coatings and Fillings Market Size, Share | Global Player: Cargill, Incorporated (U.S.), Archer Daniels Midland Company (U.S.), Domson Ltd (U.K.), DuPont Nutrition & Health (Denmark), Barry Callebaut (Switzerland), Belgostar (Belgium), Tate & Lyle (U.K.)

Market Overview

Coatings and fillings is an application of a layer of any substance on the food products, which adds taste, texture, and flavor and also improves the appearance of the product. Chocolate, hazelnuts, caramel, fruit, vanilla, and others are some of the commonly used flavors in coatings and fillings. They are applicable in various industries such as bakery and confectionery, dairy and frozen desserts, sweet and savory snacks, beverages, and others. Moreover, they are applicable in different forms such as liquid, powder, granular and chunks, and others.

Competitive Analysis

The major players in the coatings and fillings market

Cargill, Incorporated (U.S.)
Archer Daniels Midland Company (U.S.)
Domson Ltd (U.K.)
DuPont Nutrition & Health (Denmark)
Barry Callebaut (Switzerland)
Belgostar (Belgium)
Tate & Lyle (U.K.)

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Market Forecast

Coatings and fillings are gaining popularity in various industries for its attribute of adding taste, texture, and flavor to the food products. The major role of coatings and fillings to improvise the appearance of the food products is attracting huge population, which is boosting the growth of the market. Changing lifestyle, increasing disposable income, and changing consumption pattern are some of the major factors contributing to the growth of the coating and fillings market.

High inclination towards baked and confectionery products in developing countries is further boosting the growth of the coatings and fillings market. The high content of fat and calories in coatings and fillings is restraining the growth of the market among obesity and diabetes population. However, sugar-free and natural flavoring innovations made in this market has paved an opportunity for the growth of the coatings and fillings market. All these factors are projected to contribute to the estimated CAGR of 5.9% of coatings and fillings market during the forecast period 2017-2023.

Downstream Analysis

Based on the flavor, coatings and fillings market is segmented into chocolates, hazelnuts, caramel, fruit, vanilla, and others. Chocolate is dominating the market owing to the health benefits associated with it such as improved blood flow and reduction in the risk of heart-related disease. However, fruit and hazelnuts are projected to witness substantial growth over the forecast period owing to the wide range of flavors available along with different health benefits.

On the basis of the form, coatings and fillings market is segmented into liquid, powder, granular and chunks, and others. The liquid form of coatings and fillings is projected to grow at a fast rate based on its ease of application in the various product line. However, the granular and chunks are expected to witness a moderate growth over the estimated period owing to its increasing demand in bakery and confectionery followed by dairy and frozen desserts.

Based on the application, the market is segmented into bakery and confectionery, dairy and frozen desserts, sweet and savory snacks, beverages, and others. Bakery and confectionery segment is dominating the market owing to rising demand for baked and confectionery products in developed countries. However, dairy and frozen desserts are likely to witness substantial growth over the estimated period.

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Regional Analysis

The global coatings and fillings market is segmented into North America, Europe, Asia Pacific and rest of the world (RoW). Europe is dominating the market followed by North America. Technological advancements and continuous innovations are some of the major factors driving the coatings and fillings market in Europe. In North America, the U.S. is prominent in consumption of coatings and fillings.

Asia Pacific is projected to witness a substantial growth over the forecast period owing to changing the lifestyle of the population in developing countries such as China and India. Moreover, increasing application of coatings and fillings in the various product line is expected to boost the growth of the market in rest of the world.

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This release was published on openPR.