Food Coating Market to Record Steady Growth by 2023

Northbrook, USA, 2020-Feb-18 — /EPR Network/ — The Food Coating Market is projected to reach 5,936.3 USD Million by 2023 at a CAGR of 4.98% from 2018-2023. The food coating ingredients and equipment markets are projected to reach a value of USD 3.62 billion and USD 2.31 billion, respectively, by 2023, at a CAGR of 5.8% and 3.7%, respectively, from 2018 to 2023. The market is segmented on the basis of ingredient form, ingredient type, equipment type, application, mode of operation, and region.

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The types of food coating ingredients include cocoa & chocolate, fats & oils, flours, breaders, batter, sugars & syrups, salts, spices, and seasonings, and others. The market has been segmented on the basis of ingredient form into dry and liquid. The type of food coating equipment market includes coaters & applicators and enrobers, wherein the coaters & applicators segment is further bifurcated as breading applicators, flour applicators, batter applicators, seasoning applicators, and other coaters & applicators. The market has been segmented on the basis of mode of operation into automatic, and semi-automatic. The applications of food coating include confectionery products, bakery products, snacks, meat & seafood products, and breakfast cereal. On the basis of key regions, the food coating market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW).

The food coating market is driven by factors such as rising demand for meat, seafood, poultry, bakery products, snacks, and confectionery products, growing demand for processed and convenience food, and increased focus on production efficiency, processing time, and quality of food products.

Based on mode of operation, the semi-automatic segment is projected to grow at the highest CAGR from 2018-2023. Unlike fully automatic equipment which requires high capital investment, semi-automatic equipment enables small- and medium-scale manufacturers to achieve high yield with consistent quality and without compromising on production efficiency. Developing countries such as India, Vietnam, Indonesia, and China have several small and medium manufacturers of coated food who utilize semi-automated equipment. However, with the advancement in technologies and the ease of operation provided by fully automatic systems, the market size for semi-automatic systems is comparatively lower than that of the former.

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The Asia Pacific region is projected to be the fastest-growing market for food coating from 2018 to 2023. Regional markets such as India, China, and Japan are projected to drive the growth of food coating ingredient and equipment in the region, owing to the rising income, purchasing power, rapid growth of the middle-class population, and increasing consumer demand for premium and convenience products provide promising prospects for growth and diversification in the region’s food sector. Also, the expected growth in the number of food processing units in this region is further projected to boost the supply and consumption of food coating equipment.

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