Food Coating Ingredients Market Set to Touch $6.87 Billion Value by 2030, Says P&S Intelligence

NEW YORK, Dec. 5, 2022 /PRNewswire/ -- According to the recent study published by P&S Intelligence, in 2030, the global food coating ingredients market is predicted to be $6.87 billion, growing from $3.95 billion in 2021 at a 6.35% compound annual growth rate from 2021 to 2030. This is owing to the surging demand for processed and ready-to-eat food throughout the globe.

Moreover, the surging requirement for bakery, confectionery, and meat & poultry products is expected to drive the growth of the market in the years to come.

Sugar & Syrup Are Most Widely Applied Coatings on Food Products

The sugars & syrups category is in the lead, and it is predicted to advance at a considerable pace in the coming years. Due to their ability to offer a rich color, sweetness, and taste the coated products, syrups and sugars are widely utilized for this purpose.

Furthermore, due to the fact that flour is a key component in many baked and confectionery products, the flour category will have the second-largest share throughout the decade.

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Largest Revenue Share Is Accounted for by Liquid Form

The liquid form category generated the highest revenue in the past, and will grow at a significant CAGR in the future. Confectioneries, including ice creams, candy bars, granola bars, flavored nuts, bakery goods, and ice cream, all employ liquid coatings. These coatings can also be applied to donuts, cakes, cookies, sugar wafers, fruit pieces, and a variety of other products.

Confectionery Products Are Widely Used in Developing Nations

When segmented by application, confectionery products held a market share of over 25% in 2021, and they are predicted to progress at the highest CAGR in the future. This would be a result of confectionary items becoming widely accepted and branded stores that sell them being preferred in developing countries.

Coating Usage on Meat & Poultry Products Growing Rapidly

In the years to come, the category of meat & poultry products is predicted to advance at a CAGR of over 7.5%. The increasing consumption of meat and poultry in North America is primarily credited for the market expansion.

Browse detailed report on Food Coating Ingredients Market Size, Share, Trends and Growth Analysis 2022-2030

Market Dominance of North America To Continue till 2030

North America is predicted to be the largest market for food coating ingredients, as mechanized equipment and other cutting-edge food coating technologies are widely accessible in the region.

Asia-Pacific is predicted to develop at a CAGR of about 7.1% over this decade. The demand for these additives is being driven by the expanding industrialization level and rising government investment to enable food processing businesses to update their technology.

Global Food Coating Ingredients Industry Report Coverage

By Product Type

• Cocoa & Chocolate
• Fats & Oils
• Flours
• Breaders
• Batter & Crumbs
• Sugars & Syrups
• Spices & Seasonings
• Starches
• Hydrocolloids

By Form

• Dry
• Liquid

By Application

• Meat & Poultry Products
• Confectionery Products
• Bakery Products
• Ready to Eat Cereals
• Fruits & vegetables
• Snacks

Regional Analysis

• North America
• U.S.
• Canada
• Europe
• Germany
• France
• U.K.
• Italy
• Spain
• Asia-Pacific
• China
• India
• Japan
• South Korea
• Australia
• Latin America
• Brazil
• Mexico
• Middle East and Africa
• Saudi Arabia
• South Africa

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About P&S Intelligence

P&S Intelligence provides market research and consulting services to a vast array of industries across the world. As an enterprising research and consulting company, P&S believes in providing thorough insights on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness. P&S keeps the interest of its clients at heart, which is why the insights we provide are both honest and accurate. Our long list of satisfied clients includes entry-level firms as well as multi-million-dollar businesses and government agencies.

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SOURCE P&S Intelligence