March 1, 2018

Global Food Coating Ingredients Market – Trends, Drivers, and Challenges | Technavio

LONDON–(BUSINESS WIRE)–The global food coating ingredients market is expected to grow at a CAGR of close to 4% during the period 2018-2022, according to a new market research study by Technavio.

The report presents a comprehensive research of the global food coating ingredients market by product, including sugar, syrups, and related coatings, flours, and spices, salt, and seasonings. The report also determines the geographic breakdown of the market in terms of detailed analysis and impact, which includes key geographies such as APAC, the Americas, and EMEA.

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Market driver: changing taste preferences of consumers

Changing lifestyles of consumers and rising urbanization are leading to changes in consumers’ taste preferences. Traveling abroad as part of work or tour increases the consumer’s exposure to different types of cultures and cuisines. Several types of food coating ingredients are used in different countries and cuisines. Food coating ingredients improve the organoleptic properties of RTE products; processed, fried, and bakery items; and confectioneries and it is used extensively. Taste is the basis of differentiation for consumers choice of food, which varies greatly. The variety of food coating ingredients satisfy the taste preferences of consumers of all categories.

According to a senior analyst at Technavio for food research, “Food and beverage manufacturers can use various food coating ingredients such as sugar, syrup, spice, salt, seasonings, and many others. Food coating ingredient manufacturers are also introducing new variants to satisfy consumer’s need. The changing taste preferences among consumers is expected to drive the market in the forecast period.”

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Market trend: product innovations in food and beverage industry

The innovation in the global food and beverages market is increasing the demand for food coating ingredients. The consumers are looking for more variety and taste and are more likely to purchase products rich in toppings and flavors. This is increasing the scope of food coating ingredients for various applications in the food and beverage industry such as confectionery, bakery, fried foods, and others. Developed countries have a higher demand due to the trend of consuming a variety of food products.

The major supporting factors in the market are the changing consumer lifestyle, high-income levels, and increasing working population. The rising disposable income is increasing the demand for processed foods as well as RTE products. The food and beverage manufacturers are introducing new products to attract target customers which will maximize the sale. For example, manufacturers have introduced food products coated with vitamins and nutrients to attract health-conscious consumers.

Market challenge: fluctuations in the availability of raw materials

The global food coating ingredients market is highly dependent on the availability of raw materials as food coating is primarily made from agricultural products. Fluctuations in the availability of raw materials will impact the global food coating ingredients market negatively. Adverse weather conditions also effect the market negatively in terms of the volume and quality of crop production.

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