At 5.75% CAGR, Food Coating Market Size to Hit USD 3.72 billion by 2029 | Says Exactitude Consultancy

Tuesday, March 14, 2023 at 10:58am UTC

Luton, Bedfordshire, United Kingdom, March 14, 2023 (GLOBE NEWSWIRE) -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Food Coating Market.

The global Food Coating Market is expected to grow at a 5.75% CAGR from 2023 to 2029. It is expected to reach above USD 3.72 billion by 2029 from USD 2.25 billion in 2022.

Food Coatings is basically covering of food products using other food ingredients-based liquid or powder coatings. These coatings offer the original food products with added flavours, textures and decorations. The coating products themselves can be categorised into natural products such as honey, sugar or processed products such as chocolate, sauces, etc. The rise of processed food products industry has impacted heavily on the growth of the food coatings market. This Food coatings are later used in bakeries, confectionaries, dairy, etc. With Processed Meat and Seafood being most trending and steadily rising in popularity. Currently, North America is the biggest market for food coatings although Asia Pacific is steadily catching up.

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The food coating market is anticipated to grow in the forecast period owing to driving factors such as increasing demands for processed foods in meat, bakery and confectionery products. Moreover, increasing demands for health and convenience foods coupled with improved focus on production efficiency and quality of food products further propel food coating market growth. However, rising production costs due to fluctuating food coating ingredient prices and shift towards fresh food products hamper the growth of the food coating market. Nonetheless, with innovations in food coating technology, the food coating market is likely to witness growth opportunity during the forecast period.

Recent Development:

  • May 12, 2022, Kerry research into plant-based alternatives reveals sustainability and health are top drivers for flexitarians, but taste is key to consumer preference
  • In 2020, Newly Weds Foods Inc., leading market player in food processing and food ingredients has announced acquisition of Jigsaw Foods Ltd., a UK based producer of sauces, butters, dressings and spreads, which are later supplied to other processed food manufacturers. The acquisition will bolster Newly Weds Foods liquid product division, with a previous acquisition being of another liquid food products specialised manufacturer Mullins Food Products.

The North America region is expected to dominate 37% of the food coating market during the forecast period.

The North American region is likely to lead the food coating market. Superior food coating technologies are available in the region, and mechanized equipment is used to coat food components. Consumers in the United States and Canada like salty foods such as potato chips, which require dry coating. Aside from that, these countries consume frozen food that requires a coating to keep it fresh for a longer period of time. Consumers in this region like cereal for the morning, which therefore need coating. Confectionery products are also very popular in the United States.

Market Trend:

• Liquid Coating Segment has the Highest Market Share in Food Coating Market

Market Drivers:

• Growing Investments in Processed Food Market

• Innovation in Advanced Food Coating Technology

Market Opportunities:

• Meat Segment should be Highly Capitalised by Players because of Rising Demand for Packaged and Processed Meat

Food processing is a key aspect of the food & beverage sector and also offers various growth opportunities in the market.

Food processing is a key aspect of the food & beverage sector, and its expansion is offering enormous development possibilities for the linked business. To keep up with the rising demand for the food processing sector, value chain providers are aiming to install more and more machinery and equipment in food processing applications. The majority of the equipment and gear used in the food processing industry is made of metal. Food- coating is utilized to extend the service life of the equipment.

Food coating is a specially formulated coating that is applied to the metallic surface to protect it from corrosion and other foreign particles. This food- coating has a very low coefficient of friction, strong chemical resistance, and moderate abrasion resistance, making it suitable for improving the performance of food processing equipment.

Food Coating Market Report Scope

Report AttributeDetails
Market size value in 2022USD 2.25 billion in 2022
Revenue forecast in 2029USD 3.72 billion by 2029
Growth rateCAGR of 5.75% from 2023 to 2029
Base year for estimation2022
Historical data2018 - 2022
Forecast period2023 - 2029
Quantitative unitsVolume in kilo tons, revenue in USD million and CAGR from 2023 to 2029
Report coverageRevenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments coveredProduct, application, region
Regional scopeNorth America; Europe; China; Asia; Pacific; Central & South America; MEA
Key companies profiledCargill, Kerry Group, Archer Daniels Midland Company, Ingredion Incorporated, JBT Corporation, Tate & Lyle PLC, PGP International, Newly Weds Foods, Bowmen Ingredients, Marel, GEA Group, Buhler AG, and others.
Market DriversRising demand for food coating products owing to increasing consumption of confectionary products is a key factor expected to drive growth of the global food coating market over the forecast period.

Food Coating Market Players

From large companies to small ones, many companies are actively working in the food coating market. These key players include Cargill, Kerry Group, Archer Daniels Midland Company, Ingredion Incorporated, JBT Corporation, Tate & Lyle PLC, PGP International, Newly Weds Foods, Bowmen Ingredients, Marel, GEA Group, Buhler AG, and others.

Companies are mainly in food coating they are competing closely with each other. Innovation is one of the most important key strategies as it has to be for any market. However, companies in the market have also opted for and successfully driven inorganic growth strategies like mergers & acquisitions, and so on.

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Key Market Segments: Food Coating Market

Food Coating Market by Type, 2023-2029, (USD Millions)

  • Coaters & Applicators
  • Breader Applicators
  • Flour Applicators
  • Batter Applicators
  • Seasoning Applicators
  • Other Coaters & Applicators
  • Enrobers

Food Coating Market by Application, 2023-2029, (USD Millions)

  • Meat & Seafood Products
  • Confectionery Products
  • Bakery Products
  • Bakery Cereals
  • Snacks

Food Coating Market by Ingredient Form, 2023-2029, (USD Millions)

  • Automatic
  • Semi-Automatic

Food Coating Market by Mode of Operation, 2023-2029, (USD Millions)

  • Dry
  • Liquid

Market Dynamics:

Rising demand for food coating products owing to increasing consumption of confectionary products is a key factor expected to drive growth of the global food coating market over the forecast period. Furthermore, changing lifestyle, rising consumption of bakery products and convenient food from rapidly increasing population, and increasing disposable income, plays an important role for growth of the market. Usage of advanced machinery such as enrobers as a coating equipment in bakery products is also expected to bolster growth of the global food coating market.

Various players in the market focus on offering variety of colors and flavors for food coating process, expected propel the growth of the global market in the coming years. With the emerging online retail and meal delivery system, purchasing food products is the ongoing trend observed. As consumers prefer ordering food products from online portals, there is increasing demand for frozen coated products in the food industry.

Food Coating Market - Trends and Opportunities

The worldwide food coating market is anticipated to be driven by rising consumer demand for processed, ready-to-eat, and comfort foods like confections, baked products, drinks, and other ready meals. Consumption of sweets, cakes, fondant, and other confections has risen exponentially in recent years. Greater demand from children and other groups is blamed for this rise. Particularly among toddlers, demand for goods with chocolate coating is at an all-time high. The product's lifespan is also increased by these coverings. The previous coating method required hand dipping, which took time. To meet the rising demand for confectionery goods, technology is now quickly advancing to boost output and streamline time-consuming procedures.

Key Question Answered

  • What is the worth of global food coating market?
  • What are the new trends and advancements in the food coating market?
  • Which product categories are expected to have the highest growth rate in the food coating market?
  • Which are the key factors driving the food coating market?
  • What will the market growth rate, growth momentum, or acceleration the market carries during the forecast period?

Exactitude Consultancy’s Other Trending Reports:

The global can coatings market size was valued at USD 2.27 billion in 2022 and is projected to reach USD 3.02 billion by 2029, exhibiting a CAGR of 4.15% during the forecast period from 2023 – 2029.

The global Industrial Floor Coating Market is projected to reach USD 7.35 billion by 2029 from USD 4.5 billion in 2020, at a CAGR of 5.6 % from 2023 to 2029.

The global antimicrobial coatings market size was USD 3.7 Billion in 2022 and is projected to reach USD 9.54 Billion by 2029, exhibiting a CAGR of 11% during the forecast period.

The global Anti-fog Coatings market size is USD 16.20 Billion in 2022 and is expected to grow till USD 26.42 Billion by 2029, at a Compounded annual growth rate (CAGR) of 5.93%.

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