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Asia-Pacific Food Coatings Market: Key Factors, Applications, Opportunities
Rapid economic growth and increase in per capita income in the Asia-Pacific region have led to significant changes in food production and food consumption patterns.
Rapid economic growth and increase in per capita income in the Asia-Pacific region have led to significant changes in food production and food consumption patterns. This is majorly attributed to changes in lifestyles, due to increase in disposable income.
The Asia-Pacific food coatings market size was valued at $572.00 million in 2017, and is projected to reach $990.41 million by 2025, growing at a CAGR of 7.1% from 2018 to 2025. India is anticipated to exhibit the highest growth rate in the Asia-Pacific food coatings market, owing to increase in consumption of meat and rise in number of quick-service restaurants (QSRs).
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The predust segment dominates the Asia-Pacific food coatings market, owing to increase in consumption of fried food in the Asian countries such as China, Japan, and India. This is anticipated to boost the demand for food coatings, thereby driving the growth of the Asia-Pacific food coatings market. In addition, rise in demand for meat & seafood products boosts the Asia-Pacific coatings market growth.
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.
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%.
- Meat & Seafood Products
- Convenience Food & Ready Meals
- Baked Goods
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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 coatings 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.
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