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Global Batter and Breader Premixes Market Overview 2033 : Forecasted Market Size And Growth Rate
Batter and Breader Premixes Global Market Report 2024
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According to The Business Research Company's, The batter and breader premixes market size has grown strongly in recent years. It will grow from $2.48 billion in 2023 to $2.65 billion in 2024 at a compound annual growth rate (CAGR) of 6.9%. The growth in the historic period can be attributed to growth in fast food industry, rise in quick service restaurants, increased consumer spending, globalization of cuisine, expansion of food retail chains, food safety concerns.
The batter and breader premixes market size is expected to see strong growth in the next few years. It will grow to $3.46 billion in 2028 at a compound annual growth rate (CAGR) of 6.8%. The growth in the forecast period can be attributed to plant-based alternatives, focus on ethnic and regional flavors, sustainable practices, demand for gluten-free options, regional and local manufacturing, regulatory landscape. Major trends in the forecast period include global flavor innovation, clean label products, technological advancements in processing, customization for dietary preferences, direct-to-consumer sales.
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Market Drivers and Trends:
Rising global consumption of packaged meat products is expected to drive the batter and breader premixes market. The demand for meat has increased as consumers' average disposable income has increased. In developed regions such as North America and Europe, the consumption of packaged meat products is on the rise. For example, July 2021, according to the Organization for Economic Co-operation and Development (OECD), a France-based intergovernmental organization, the global meat consumption per capita is projected to increase 0.3% p.a. to 35.4 kg in retail weight equivalent (RWE) by 2030. . Premixes are used to enhance the flavor of meat products. As a result, growing consumption of packaged meat products is promoting market growth.
Major companies in the batter and breader premixes market are focused on developing Batter 2.0 with innovative packaging, such as resealable packaging, to gain a competitive edge in the market. Resealable packaging is a type of container or bag that can be easily sealed and reopened, allowing for repeated access to the contents while maintaining freshness. For instance, in July 2023, iD Fresh Food, an India-based food company, launched the iD Squeeze & Fry Vada Batter 2.0, featuring an innovative packaging design. The resealable packaging allows consumers to add masalas/condiments to the vada batter, and the upgraded spout ensures better flow without sticking. The transparent window in the pack allows visibility of the mixed masala.
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Major Key Players of the Market:
Cargill Incorporated, Archer Daniels Midland Company, The Archer-Daniels-Midland Company, Bunge Limited, Toshiba Machine Pvt.Ltd., Associated British Foods plc, BRF Ingredients S.A., Ajinomoto Co. Inc., Kerry Group plc, Ingredion Incorporated, McCormick & Company Incorporated, Showa Sangyo Co. Ltd., Kyoei Food Co. Ltd., Newly Weds Foods Inc., Blendex Company, Actuant Corporation, Solina S.A., HAWE Hydarulik, Bondioli&Pavesi, Bowman Ingredients Inc., Permco Inc., House-Autry Mills Inc., Bailey International LLC, Breading & Coating Ltd, Thai Nisshin Technomic Co. Ltd., Pt. Primera Panca Dwima, BRATA Productions GmbH, Arcadia Foods Limited, Xiamen Uprisingstar Foodstuffs Co. Ltd., Zhuhai Yitong Industrial Co. Ltd., Perfection Hydraulics Inc., Cessna Hydraulics
Batter and Breader Premixes Market 2024 Key Insights:
• The batter and breader premixes market size is expected to see strong growth in the next few years. It will grow to $3.46 billion in 2028 at a compound annual growth rate (CAGR) of 6.8%.
• Consumption Of Packaged Meat Fuels Growth In The Batter And Breader Premixes Market
• Batter 2.0 To Gain A Competitive Edge In The Market
• North America was the largest region in the batter and breader premixes market in 2023
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