Newark, NJ, May 24, 2022 (GLOBE NEWSWIRE) -- As per the report published by our research team, the global food sugar coating market is expected to grow from USD 146.24 million in 2021 to USD 247.07 million by 2030, at a CAGR of 6.0% during the forecast period 2022-2030.
Globalization leads to the rising attention among customers of different food trends. Due to trade liberalization, food manufacturing industries have also extended their existence worldwide. Food industries are examining unique and unexplored markets, wherein even domestic participants are growing their product offerings to satisfy the growing competition in the market. For example, businesses are focusing on innovating their food coating technology offerings via creative technologies, like electrostatic coating, which delivers 97% coating of all products, making a more efficient layer than traditional flavouring techniques.
Competitive Strategy
To enhance their market position in the global food sugar coating market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
- Cargill Inc. founded the world’s first food coating technique utilizing sourced coconut oil, responding to customers increasing needs for sourced ingredients in April 2019.
- In March 2018, Tate & Lyle PLC connected with HORN (California), a premier North America-based specialty elements and raw materials distributor. In the partnership, HORN distributes Tate & Lyle's specialty ingredients developed for the nutrition industry in the US. It will provide joint development prospects and improved access to innovative products in its markets.
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Market Growth & Trends
Food sugar coating is a part of the food processing activity and enhances the product's form, flavor, and texture. The procedure includes carrying the product while using the coating ingredient in a precise shape. These coatings support, protect the underlying product and improve the overall look and quality of the product. The growing food processing enterprises are anticipated to strengthen the development of the product market. Also, the rise in the customers' consumption patterns and many of them opting for processed food, frozen food, and ready to eat are anticipated to propel the global food sugar coating market. The food sugar coating market is predicted to grow faster in growing economies like the Asia Pacific due to rising per capita income, fast-growing life, and the increasing popularity of junk food amongst youths. The usage of sweets, such as fondant cakes, pastries, candies, and wafer bars, has grown immensely due to the need arising from children, particularly chocolate/sugar-coated products. These coatings also prolong the shelf-life of the product. Due to the increased demand for food sugar coating products, new technological developments have been introduced in the process, such as electrostatic coating, which helps in improving the production rate and meeting the consumers' demand..
Key Findings
- In 2021, the other segment dominated the market with the largest market share of 35%.
The type segment is divided into flours, batter, & others. In 2021, the other segment dominated the market with the largest market share of 35%. Other include liquid coating in preparations of bakery products, flavoured nuts, granola bars, ice cream coatings, and sweets such as candy bars. Layers contain fat-based compositions dissolved and used in solid food products such as nuts, fondant cakes, doughnuts, wafers, cookies, ice cream bars, and fruit slices for different tastes.
- In 2021, the bakery segment dominated the market with the largest market share of 36%.
The application segment is divided into snacks, bakery, & others. In 2021, the bakery segment dominated the market with the largest market share of 36%. The segment is anticipated to be the highest due to the growth in consumption of chocolate and its substitute products and bakery products.
Regional Segment Analysis of the Food Sugar Coating Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Rest of APAC)
- South America (Brazil and Rest of South America)
- The Middle East and Africa (UAE, South Africa, Rest of MEA)
Among all regions, the Asia-Pacific region emerged as the largest market for the global food sugar coating market, with a market share of around 35.5% and 2.29 million of the market revenue in 2021. China and India are the fastest-growing regions in Asia-Pacific due to the vital need for sweet and dairy industries. The rising popularity of ready-to-eat comfort foods among the working people has pushed the market's growth. In expansion to these, fast-paced lifestyles and rising customers' disposable incomes in developing economies of the Asia-Pacific region like India and China are expanding market numbers.
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Key players operating in the global food sugar coating market are:
- TNA Australia Pty Limited
- Tate & Lyle PLC
- Spice Application Systems
- PGP International
- Newly Weds Foods
- Marel
- Kerry Group
- JBT Corporation
- Ingredion Incorporated
- GEA Group
- Dumoulin
- Clextral
- Cargill
- Buhler AG
- Bowman Ingredients
This study forecasts revenue at global, regional, and country levels from 2019 to 2030. The Markets and Research have segmented the global food sugar coating market based on the below-mentioned segments:
Global Food Sugar Coating Market by Type:
- Flours
- Batter
- Others
Global Food Sugar Coating Market by Application:
- Snacks
- Bakery
- Others
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About the report:
The global food sugar coating market is analysed based on value (USD Million). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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