Dive Brief:
- An increase in demand for convenience foods, gluten free and sugar free bakery and confectionary products, energy-boosting snacks, fresh and organic foods, and food protection agents are driving the growth of the global food coating ingredients market, according to a market study conducted by P&S Market Research, available at Research and Markets.
- North America comprised the second-largest market for bakery products, after Europe, in 2014. Asia-Pacific is growing rapidly due to increasing disposable incomes and the urbanization of the region.
- In Europe, cocoa and chocolates make up the largest use of food coating ingredients; but fats and oils are more prevalently used in North America.
Dive Insight:
An increase in employment and economic activity in North America is taking place at the same time as an increase in the demand for on-the-go foods. As a result, the need for food coating ingredients is increasing.
Globally, the growing demand for organic and fresh foods is further driving the need for food coating ingredients, as is the fast pace for the preservation of foods such as meat and poultry products.
The global food coating ingredients market is expected to reach $4.4 billion by 2020, according to Grand View Research Inc.
Grand View reports growing demand across several applications, much like the P&S Market Research report. Grand View also noted a key challenge for the market has to do with restrictions regarding food additives and preservatives.