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COVID19 Impact on Food Coating Market Size and Growth Forecast till 2026; Top Players Covered -Dohler GmbH, John Bean Technologies Corporation, PGP International Inc. and more
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Some of the major companies that are present in the global food coating market are
• Cargill Incorporated (USA)
• Archer-Daniels-Midland Company (USA)
• Tate & Lyle plc (United Kingdom)
• Kerry Group plc (Ireland)
• Dohler GmbH (Germany)
• John Bean Technologies Corporation (USA)
• PGP International Inc. (USA)
• GEA Group AG (Germany)
• Bowman Inc. (USA), and Marel Inc.(Iceland)
Factors influencing market growth and development have been analysed and explained in the report. Food coating is a process through which foods are coated with certain substances to improve their taste, appearance, colour, and even shelf life.
These coatings can be liquid in form or particulate and can serve a range of purposes, for example, corn flour is applied to keep the different ingredients in dish held together. Corn flour can also enrich the food item with vitamins and minerals. The most commonly used food coatings include water, starches, flours, and batters.
Demand for Higher Nutritional Value Foods to Fuel the Growth of the Market
Increasing consumer preference for nutritional food items is expected to be a major factor driving the growth of the global food coating market. Since food coating can increase the nutritional value of a foodstuff, the market size has the potential to expand at a considerable pace during the forecast period.
Rising disposable incomes and hectic lifestyles are pushing people to demand processed and ready-to-eat meals that are not time-consuming in terms of preparation. The global food coating market is poised to gain from this changing consumer behavior during the forecast period. The demand is expected to grow rapidly for cocoa and chocolates and bakery and confectionary items.
Restrained Growth Anticipated
It will not be smooth-sailing for the global food coating market as strict government regulations on the quality of coatings used are expected to be implemented. Moreover, intense competition might lead to trade malpractices which will not bode well for market growth. Such events have been witnessed in the past.
For example, in 2001, McDonald’s was sued in the US for coating their French fries with beef and selling the product as being 100% vegetarian. Such controversies could severely damage growth of the global food coating market.
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Mergers and Acquisitions Define Competition in The Market
Key competitors are upping the ante in the global food coating market through launch of innovative products and mergers and acquisitions. For example, Kerry Group plc of Ireland acquired the Spain-based food coating manufacturer, Hasenosa, to diversify their product portfolio and establish a greater market presence in Europe.
Major segments include;
By Product Type
• Flours
• Sugar & Syrups
• Hydrocolloids
• Cocoa & Chocolate
• Fats & Oils
By Application
• Confectionery
• Bakery
• Meat & Seafood
• Snacks
• Dairy & Cereal
By Geography
With regard to innovation, Cargill Incorporated is a notable example as it developed the world’s first fillings and coatings in 2019. As competition intensifies, the market size is expected to grow during the forecast period.
Fortune Business Insights identifies key players in the global food coating market. They include Tate & Lyle plc in the UK, Cargill Incorporated in the US, Kerry Group plc in Ireland, Dohler GmbH in Germany, Marel Inc. in Iceland, and others.
North America to Have the Largest Market Share
With growing consumption of processed and frozen food items, North America is projected to hold majority market share in the global food coating market among the regional segments. In case of Asia-Pacific, the market size is expected to expand at a rapid pace owing to the growing populations in India and China. Changing work-life culture in these countries is also expected to surge the demand for processed foods.
Their developing economies have led to increasing incomes and the demand for both domestic and imported processed food items has risen remarkably in the regional market. The trend is expected to show an upward trajectory during the forecast period. In the end, the global food coating market stands to gain.
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