According to a new report published by Allied Market Research, titled, “Asia-Pacific food coatings market by type, application and form: opportunity analysis and industry forecast, 2021–2030,” The Asia-Pacific food coatings market size was valued at $572.01 million in 2017 and is projected to reach $1,082.86 million by 2030, registering a CAGR of 8.0% from 2021 to 2030. In 2020, the meat & seafood segment accounted for more than one-third share of the Asia-Pacific market.
Increasing 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 the number of quick-service restaurants (QSRs) such as McDonalds, Burger King, Wendy’s, Subway, and Dunkin’ Donuts. These outlets rely on the use of food coatings such as batter, breading, oven coating, predust, and others to improve taste and enhance the visual appeal of the served food items, thereby fueling the market growth. In addition, growth of retail chains in India, China, Thailand, Vietnam, and others leads to large-scale usage of food coatings as well as beef, pork, poultry, seafood, and other meat products. Food coating serves as an important ingredient used during cooking fried and crusted meat, which further increases its demand; thereby, driving the growth of the Asia-Pacific food coatings market.
With the sudden outbreak of COVID-19 pandemic, majority of the countries had imposed lockdowns, and curfews which has hugely impacted lifestyles, health & wellbeing, and also affected the manufacturing industries, thereby affecting the growth of Asia-Pacific food coatings market to some extent.
In 2017, the predust coatings type segment accounted for the highest market share in the Asia-Pacific region, and is anticipated to grow at a significant CAGR of 4.7% 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.
In 2017, the meat & seafood segment accounted for the highest share in the Asia-Pacific food coatings market. Meat & seafood products are rich in essential minerals, and micro- & macronutrients, especially vitamin B12, iron, zinc, selenium, and protein. These products can be cooked in a variety of ways wherein food coatings help enhance the organoleptic properties and visual appeal of the cooked meat & seafood products. Moreover, increase in affluent population coupled with emergence of sedentary lifestyle supplements the Asia-Pacific food coatings market growth.
In 2017, China accounted for the highest share in the Asia-Pacific food coatings market, and is projected to witness significant revenue growth from 2021 to 2030, owing to increase in affluence, rise in fast food outlets in the region, and high consumption of meat. According to the Organization for Economic Co-operation and Development (OECD), the total consumption of poultry meat in China was 23,210.24 kilotons in 2020 compared to 22,845.36 kilotons in 2019. 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 the number of quick-service restaurants (QSRs). Furthermore, upsurge in disposable income and busy lifestyle have persuaded people to adopt convenient food options such as fast foods and ready-to-eat meals, which include predust, batter, breadings, and other products. This change in consumption pattern is expected to drive the growth of Asia-Pacific food coatings market trends.
Key findings of the study
- By type, the 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 4.9% from 2021 to 2030.
- By application, the meat & seafood segment accounted for the highest Asia-Pacific food coatings market share in 2017, growing at a CAGR of 7.0% from 2021 to 2030.
- By form, the dry segment accounted for the highest market share in 2017, growing at a CAGR of 7.3% from 2021 to 2030.
- By country, China occupied the maximum share in the market in 2017 and is expected to be the dominating country during the Asia-Pacific food coatings market forecast period.
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