The report "Food Coating Market by Ingredient Type (Batter, Flours), Application (Bakery, Snacks), Equipment Type (Coaters & Applicators, Enrobers), Form (Dry, Liquid), Mode of Operation (Automatic, Semi-Automatic), and Region - Global Forecast to 2023", The food coating ingredients and equipment markets are estimated to be valued at USD 2.73 billion and USD 1.93 billion, respectively, in 2018 and are projected to reach USD 3.62 billion and USD 2.31 billion, respectively, by 2023, at a CAGR of 5.8% and 3.7% from 2018 to 2023. The market is driven by factors such as rising demand for meat & seafood, poultry, bakery products, and confectionery products, growing demand for processed & convenience food, increased focus on production efficiency, processing time, and quality of food products, growing demand for innovative food coating products due to changing consumer trends.
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Growing investment opportunities in the development of new food coating technology.
There has been a growing awareness among consumers for various food trends due to globalization. Food manufacturing companies have also been expanding their presence across the globe due to the liberalization of trade. New and untapped markets are being explored by food manufacturers, wherein even domestic players are developing their product offerings to meet the rising competition in the market. For instance, manufacturers in China, India, and Japan have developed their own food coating equipment that are as good as the imported equipment or the equipment supplied by the market leaders in coating technology. To get an edge over competitors in both domestic and international markets, companies are focusing on innovating their food coating technology offerings through innovative technologies, such as electrostatic coating, which offers 98% coating of all products, making it an even more efficient coating than traditional flavorings methods.
The meat & sea food segment is estimated to account for the largest market in 2018 for both the food coating ingredient and equipment market.
On the basis of application, the meat & sea food segment is expected to account for the largest share. The market is mainly driven by the large scale usage in North America. Coating for meat & sea food products to protect them from spoilage. This allows the addition of savory flavors and crispy texture of meat and seafood products. In addition to this, America’s increasing consumption of crispy, fried chicken, coated with batter and crumbs is driving the market for this application steadily.
The semi-automatic mode of operation is expected to show the highest growth rate in the next five years.
The semi-automatic segment is projected to grow at the highest growth rate in the next five years. Semi-automatic food coating equipment is usually adopted by small- and medium-scale manufacturers, as their production scale is limited. Developing countries in the Asia Pacific and South American regions that have a large number of small and medium manufacturers of food processing products utilize semi-automated equipment. Limited investment capacity and high labor availability are the major drivers that have led to the use of semi-automated equipment in these regions.
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North America is estimated to dominate the food coating ingredient market in 2018.
North America is expected to continue its dominant presence in the food coating ingredients market during the forecast period. The region is backed by superior food coating technologies and utilizes automatic equipment for coating food ingredients. Consumers in the US and Canada majorly consume salty snacks such as potato chips, which need dry coating. Apart from this, these countries consume frozen food that requires coating for an extended shelf life. Consumers in this region opt for cereal as breakfast options where coating is applied. The US is also a huge market for confectionery products. These factors have fueled the growth of the food coating market in North America.
This report includes a study of marketing and development strategies, along with the product portfolios of the leading companies. It includes profiles of leading companies such Marel (Iceland), GEA Group (Germany), Bühler AG (Switzerland), JBT Corporation (US), TNA Australia Pty Limited (Australia), Clextral (France), Dumoulin (France), Spice Application Systems (UK), Cargill (US), Kerry Group (Iceland), Tate & Lyle Plc (UK), Newly Weds Foods (US), PGP International (US), Archer Daniels Midland Company (US), Ingredion Incorporated (US), and Bowman Ingredients (UK).