Asia-Pacific Food Coatings Market Expected To Reach $1,275.9 Mn By 2030 At A CAGR Of 8.2% During A Forecast Period

The Asia-Pacific food coatings market generated $572.01 million in 2017, and is projected to reach $1.08 billion by 2030, witnessing a CAGR of 8.0% from 2021 to 2030.

Surge in disposable income, rise in fast-food outlets, and growth of retail network in emerging economies drive the growth of the Asia-Pacific food coatings market. Based on application, the meat & seafood product segment held the highest market share in 2020. Based on country, China contributed to the highest share in terms of revenue in 2020.

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Growth of retail chains in India, China, Thailand, Vietnam, and others leads to large-scale usage of food coatings as well as beef, pork, poultry, seafood, and other meat products. Food coating serves as an important ingredient used during cooking fried and crusted meat, which further increases its demand; thereby, driving the growth of the Asia-Pacific food coatings market.

Increasing popularity of fast-food restaurants majorly boosts the growth of the Asia-Pacific food coatings market. China and Japan are the largest consumers of food coatings, owing to the presence of large urban population base and surge in the number of quick-service restaurants (QSRs) such as McDonalds, Burger King, Wendy's, Subway, and Dunkin' Donuts. These outlets rely on the use of food coatings such as batter, breading, oven coating, predust, and others to improve taste and enhance the visual appeal of the served food items, thereby fueling the market growth. In addition, growth of retail chains in India, China, Thailand, Vietnam, and others leads to large-scale usage of food coatings as well as beef, pork, poultry, seafood, and other meat products. Food coating serves as an important ingredient used during cooking fried and crusted meat, which further increases its demand; thereby, driving the growth of the Asia-Pacific food coatings market.

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As per the Asia-Pacific food coatings market trends, in 2020, China accounted for the highest share in the market, and is projected to witness significant revenue growth from 2021 to 2030, owing to increase in affluence, rise in fast food outlets in the region, and high consumption of meat. According to the Organization for Economic Co-operation and Development (OECD), the total consumption of poultry meat in China was 23,210.24 kilotons in 2020 compared to 22,845.36 kilotons in 2019.

India is anticipated to exhibit the highest growth rate in the Asia-Pacific food coatings industry, owing to increase in consumption of meat and rise in the number of quick-service restaurants (QSRs). Furthermore, upsurge in disposable income and busy lifestyle have persuaded people to adopt convenient food options such as fast foods and ready-to-eat meals, which include predust, batter, breadings, and other products. This change in consumption pattern is expected to drive the growth of the food coatings market in the Asia-Pacific region.

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Leading players of the Asia-Pacific food coatings market analyzed in the research include DPS/Dutch Protein & Services B.V., Kerry Inc., McCormick & Company, Inc., Continental Mills, Inc., TNA Australia Pty Limited, Bowman Ingredients, Cargill, Bühler AG, Dumoulin, GEA Group, and JBT Corporation.

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