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Description
The food coating market size was valued at USD 4.5 billion in 2021 and is poised to grow at a significant CAGR of 7.0% over 2022–2028. The shifting of consumer preference toward healthier diets and consumption of fried food and bakery items are increasing in developed nations, boosting the global food coating market. Antimicrobial coating pushes the food coating business to experiment with new ingredients, which increases global demand for the product. The food coating ingredients market will be driven by growth in the food and food processing industries. The growing need to keep food fresh and flavorful for more extended periods also adds to the development of the food coating market. The market is likely driven by increased demand for ready-to-eat, processed, and convenience foods such as confectioneries, baked goods, drinks, and other quick meals. In recent years, the consumption of confectionery, such as fondant, pastries, and sweets, has expanded exponentially. The coatings also enhance the life of the product. Manual dipping is a lengthy process were part of the traditional coating operation. Technology is fast progressing to boost production and eliminate time-consuming procedures to meet the increased demand for confectionery items. Furthermore, the global food coating industry is expected to benefit from increasing total retailers. The global food coating industry is predicted to develop due to the growing popularity of ready-to-eat foods. The number of hypermarkets and supermarkets is growing with the rising popularity of modern shopping. People now prefer hypermarkets and supermarkets, expanding the sale of confectioneries and meat and poultry. Market participants are increasing production and investing heavily in R&D to create improved technologies because of the rising demand for such items. As a result, the worldwide food coating industry is expected to grow in the coming years.
Recent Market Developments:
In April 2019, Cargill Corporation incorporated introduced world-first fillings and coatings that also include Rainforest Alliance Certified Coconut Oil that is sourced through a sustainable mass balance model.
In November 2019, Cargill-Royal DSM joint venture, Avansya, started commercial-scale production of EverSweet™, a non-artificial, zero-calorie stevia sweetener, at a new fermentation facility in Nebraska, U.S.
In November 2019, Agrana Group, a key player in the food coating ingredients market, announced the construction of its second wheat starch processing plant at its biorefinery in Pischelsdorf, Austria. Through the new project, the company aim at a twofold production capacity of wheat starch.
