Food Coating Market’s Opportunities and Challenges

Chicago, 2019-Nov-01 — /EPR Network/ —

The global food coating ingredients market is projected to reach USD 3.62 billion by 2023, at a CAGR of 5.8% during the forecast period, while the global food coating equipment market is projected to reach USD 2.31 billion by 2023, at a CAGR of 3.7% during the forecast period.

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What opportunities do emerging regional markets provide?

The growth of developing economies and rapid urbanization and globalization have led to opportunities in countries where the demand for food is high but the supply of quality food is lacking. This has resulted in the greater focus of food coating ingredient and equipment manufacturers toward developing economies such as Brazil, China, India, Argentina, and Malaysia due to the growing food demand, less number of local advanced equipment manufacturers, and lower cost of food production. Developing countries are experiencing busier lifestyles and changing consumption patterns leading to an increase in demand for processed, ready-to-cook, and ready-to-eat food, which is expected to further push the demand for food coating in these regions. According to Agriculture and Agri-Food Canada, retail value sales in China for bakery products has grown significantly from 2012 to 2016.

The revenue from China’s bakery products and baked goods has been consistent growing, and has grown 10% year-on-year basis between 2012 and 2016. The strong growth is expected to attract investment opportunities from major food coating equipment and ingredient manufacturers who manufacture bakery food products.

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What are the infrastructural and regulatory challenges in developing countries?

Due to the presence of major manufacturers of food coating equipment and ingredient manufacturers, markets in countries such as the US, the UK, Germany, and France have become saturated and extremely competitive; the growth of the food processing industry in developed economies compel manufacturers to identify untapped potential markets and clients in emerging markets. To expand their consumer base, ingredient and equipment manufacturers look forward to expanding in different geographies; however, factors such as regulations, infrastructure, investments, and economic environmental act as challenges. Furthermore, food coating and equipment manufacturers, require substantial investments to set up a new manufacturing unit in a developing country. Apart from internal investments in facilities, manufacturers also need to spend heavily on the development of an efficient supply chain network and on the storage of raw materials and finished goods. Inadequately developed infrastructure in countries such as Brazil, India, and Argentina and the lack of government support to foreign entities in countries such as China emerge as key challenges faced by both ingredient and equipment manufacturers, thus hampering the growth of the food coating market. Although low raw material prices and labor costs benefit food processors, the investment costs for infrastructural development is a major challenge for these companies.

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