According to a new report published by Allied Market Research, titled, Asia-Pacific Food Coatings Market by Type, Application, and Form: Opportunity Analysis and Industry Forecast, 20182025, the Asia-Pacific food coatings market size was $572.00 million in 2017, and is projected to reach $990.41 million by 2025, registering a CAGR of 7.1% from 2018 to 2025. In 2017, the meat & seafood segment accounted for more than one-third of the share in the Asia-Pacific market in terms of value.
Food coating is the process of applying or coating an edible item on the surface of a food product to aid in the cooking process. The food coatings considered in the report include predusts, batters, breadings, specialty crumbs, oven coatings, tempura batters, and others. These coatings are available in several forms and textures, and each form has different applications. For example, batters can be used to avoid moisture loss while preparing delicate food items such as tender meat or fish. In addition, breadings have become a popular option that are applied as coatings to fried or baked foods to achieve crunchy texture.
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Increase in popularity of fast-food restaurants majorly boosts the growth of the Asia-Pacific food coatings market. China and Japan are the largest consumers of food coatings, owing to the presence of large urban population base and surge in number of quick-service restaurants (QSRs) such as McDonalds, Burger King, Wendys, Subway, and Dunkin Donuts. These outlets rely on the use of food coatings such as batter, breading, oven coating, predust, and others to improve taste and visual appeal of the served food items, thereby fueling the market growth. In addition, growth of retail chains in India, China, Thailand, Vietnam, and others leads to huge availability of food coatings as well as beef, pork, poultry, seafood, and other meat products. Food coatings serve as the important ingredients that are used while cooking fried and crusted meat, which further increases their demand, thereby driving the Asia-Pacific food coatings market growth.
In 2017, the predust coatings type accounted for the highest market share in the Asia-Pacific region, and is anticipated to grow at a significant CAGR of 5.4% during the forecast period. Predust or duster is a type of food coat, which contains unprocessed flour or a blend of egg whites, starch, and other minor ingredients such as spices and salts. It is dusted over a food item to prepare the surface of a substrate before the second coat is applied to it.
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In 2017, the meat & seafood segment accounted for the highest market share in the Asia-Pacific food coatings market. Meat & seafood products are rich in essential minerals, and micro- & macronutrients, especially vitamin B12, iron, zinc, selenium, and protein. These products can be cooked in a variety of ways in which food coatings help enhance the organoleptic properties and visual appeal of the cooked meat & seafood products. Moreover, rise in the affluent population coupled with the emergence of busy life supplements the growth of the coatings market.
However, rise in costs of production due to fluctuating ingredient prices hampers the Asia-Pacific food coating market growth. In addition, increase in health concerns such as obesity, heart disease, liver damage, and diabetes associated with fried food is anticipated to lower the demand of fast food, which in turn limits the adoption of food coatings. Conversely, surge in investments by players in R&D to produce gluten-free flours for batters is expected to provide opportunities of growth for the food coatings market in the Asia-Pacific region.
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KEY FINDINGS OF THE ASIA-PACIFIC FOOD COATINGS MARKET :
- In 2017, China was the highest contributor to the Asia-Pacific food coatings market in terms of value and volume, growing at a CAGR of 7.4% and 6.2%, respectively, from 2018 to 2025.
- In 2017, predust segment was the highest contributor to the Asia-Pacific food coatings market in terms of value, and is estimated to grow at a CAGR of 5.4% from 2018 to 2025.
- In 2017, batter segment is expected to growth at the highest CAGR of 8.6% from 2018 to 2025.
- In 2017, meat & seafood segment accounted for the highest market share in food coatings market, and is estimated to grow at CAGRs of 6.5%.
- In 2017, India accounted for a prominent market share in food coatings market, and is anticipated to grow at the highest CAGRs of 9.2%.
In terms of value, China and India collectively contributed around two-fifths of the market share in the Asia-Pacific food coatings market in 2017.
The leading players in the Asia-Pacific food coatings market have focused on product launch as their key strategy to gain a significant share in the market. The key players profiled in the report include DPS/Dutch Protein & Services B.V., Kerry Inc., McCormick & Company, Inc., Continental Mills, Inc., TNA Australia Pty Limited, Bowman Ingredients, Cargill, Bhler AG, Dumoulin, GEA Group, and JBT Corporation.
About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.
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