The food coating ingredients market in Asia-Pacific is expected to register a CAGR of 6.32% during the forecast period, owing to a rise in the coating of exported foods and the robust demand for value added foods.
The globalization of food has led to import and export of food articles across borders. It has become imperative to increase shelf life,maintain the quality of food, and provide a similar rich taste experience at par with locally produced food. Coating of food commodities helps to address this growing need. Deeper penetration of organized retail across the region is creating more opportunities for the food coating sector by addressing a larger consumer base.
Growing urbanization and hectic and sedentary lifestyles are prompting consumers to opt for healthier alternatives to regular food. Food items are being coated with vitamins and nutrients to enhance their nutritional profile. Varied food regulations across the globe and stringent laws governing the food items pose a challenge for the food coating ingredient market in Asia-Pacific.
The Asia-Pacific food coating ingredient market is segmented based on type, application, and country. Sugar & syrups are expected to generate the highest growth owing to the rising demand for bakery and confectionery products.
The food coating ingredient market in Asia-Pacific is expected to be on a promising trajectory due to exponential growth in value-added food products on year-on-year basis. The region is expected to have a high growth rate, owing to the overall growth of the economy, favorable government policies, and changing lifestyles.
• June 2014 - UK-based food coatings specialist, Bowman Ingredients, launched a new offshoot in Thailand as a joint-venture with a family-owned food coatings firm based near Bangkok.
Major players - ABS FOOD INGREDIENTS, AGRANA BETEILIGUNGS-AG, ARCHER DANIELS MIDLAND COMPANY (ADM), ASHLAND INC., AVEBE, BALCHEM CORPORATION, BOWMAN INGREDIENTS, CARGILL INCORPORATED, CODRICO, DOHLERGROUP, DU PONT DE NEMOURS AND COMPANY, INGREDION INCORPORATED, KERRY GROUP PLC., among others.
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