Asia-Pacific Food Coatings Market Size, Share, Competitive Landscape and Trend Analysis Report, by Type, Application Form and End User : Opportunity Analysis and Industry Forecast, 2021-2030

The Asia-Pacific food coatings market size was valued at $562.5 million in 2020 and is projected to reach $1,275.9 million by 2030, registering a CAGR of 8.2% from 2021 to 2030.

Increase in popularity of fast-food restaurants, also known as the quick service restaurants (QSRs), 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 population base and surge in the number of QSRs such as McDonalds, Burger King, Wendy’s, Subway, and Dunkin’ Donuts, which contribute toward the market growth. The business of QSR chains in India is expected to grow by eight-folds by 2025, owing to rise in disposable income and increase in urbanization, which lead to higher consumption of food coatings. According to the India Brand Equity Foundation (IBEF), by 2025, about 530 million people in India are anticipated to reside in urban areas, which offers lucrative opportunity toward the expansion of QSR chains. This in turn is expected to provide potential opportunity for the manufacturers of food coatings.

Increase in focus on R&D activities in the food industry has paved way for innovations in food products as well as improvements in food quality. The emergence of innovative products, such as sugar-free food coatings, gluten-free, and non-GMO (genetically modified organism) food coatings products, which resonate with the trend of healthy living is expected to provide ample opportunities for the market growth in the near future. In line with this strategy, Kerry Products launched a gluten-free cake batter blended crème frappe mix to target gluten intolerant consumer market and expand its consumer base; thereby, increasing its overall sales. Hence, innovations and improvements in products provide growth opportunities for the market players. However, fast food products are considered harmful, and are often rumored to have adverse effects on the human body. Fast foods are made from ingredients, which are high in sugar and fat content and are low on nutrition. These food items have been associated to a number of diseases, including obesity, liver disease, malnutrition, cardiac diseases, and others. Growing awareness about health across the globe has led people to adopt healthier options for nutrition and has impacted the eating preferences, which in turn has negatively affected the growth of the market.

The coronavirus pandemic has created a number of challenges for exporters in the developing and developed countries. Challenges for engaged stakeholders in the food coating market are likely to prevail owing to widespread restrictions across the continent. Supply chain disruption, lack of availability of worker, complete shutdown of hotels & restaurants, lack of tourism, demand-supply volatility has negatively affected the food coatings market. Moreover, restriction on the movement of goods along with quarantine and lockdown measures imposed by governments are key challenges food coatings players are facing during this pandemic.

The Asia-Pacific food coatings market is segmented based on type, application, form, and country. On the basis of type, the market is segregated into predust, batters, breadings, specialty crumbs, oven coatings, tempura, and others. Based on application, it is categorized into meat & seafood products, convenience food & ready meals, snacks, baked goods, and others (confectioneries and ready-to eat (RTE) cereals). According to form, it is fragmented into liquid, paste, and dry. Country-wise, the market is segmented into China, India, Australia, Japan, Indonesia, Thailand, Singapore, Malaysia, Vietnam, and rest of Asia-Pacific.

On the basis of type, the predust segment constituted a major Asia-Pacific food coatings market share in 2020; however, the batters segment is projected to experience growth at the highest CAGR during the forecast period. Predust or duster is a type of food coat that contains unprocessed flour or a blend of egg whites, starch, and other minor ingredients such as spices and salts. It is dusted on a food product to prepare the surface of a substrate before the second coating is applied.

On the basis of application, the meat & seafood segment led, in terms of the market size in 2020, and is expected to continue to grow with robust CAGR during the Asia-Pacific food coatings market forecast period. Meat and seafood products are rich in essential minerals, micro and macronutrients especially vitamin B12, iron, zinc, selenium, and protein. Moreover, increase in affluent population coupled with emergence of sedentary lifestyle supplements the growth of market.

Based on form, the market is segmented into liquid, paste, and dry. The dry segment held a major share in the market in 2020, and is projected to remain dominant during the forecast period. Dry form of food coatings have no or negligible amount of water. Predust, breadings, and specialty crumbs are considered as dry food coatings. The dry form of coating is used to protect the food from burning along with reducing the fat and oil absorption.

The key players profiled in the Asia-Pacific food coatings industry report includes DPS/Dutch Protein & Services B.V., Kerry Inc., McCormick & Company, Inc., Continental Mills, Inc., TNA Australia Pty Limited, Bowman Ingredients, Cargill, Bühler AG, Dumoulin, GEA Group, and JBT Corporation.

Key Benefits for Stakeholders

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the Asia-Pacific food coatings market analysis from 2020 to 2030 to identify the prevailing market opportunities.
• The market research is offered along with information related to key drivers, restraints, and Asia-Pacific food coatings market opportunities.
• Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier–buyer network.
• In-depth analysis of the Asia-Pacific food coatings market segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the Asia-Pacific food coatings market. 
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the Asia-Pacific food coatings market players.
• The report includes analysis of Asia-Pacific food coatings market trends, key players, market segments, application areas, and Asia-Pacific food coatings market growth strategies. 

  Asia-Pacific Food Coatings Market Report Highlights