(MENAFN- EIN Presswire)
Asia-Pacific Food Coatings market AMR
Fast-food popularity and urbanization drive the Asia-Pacific food coatings market growth.
Increasing demand for convenient and ready-to-eat meals is significantly boosting the food coatings market.” - Allied Market Research
WILMINGTON,NEW CASTLE, DELAWARE, UNITED STATES, July 7, 2024 /EINPresswire / -- According to a new report published by Allied Market Research, titled,“Asia-Pacific Food Coatings Market 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.
📚 Last opportunity to download Sample PDF brochure:
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.
The global 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 Asia-Pacific food coatings market opportunities. 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.
In 2020, 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.
As per the Asia-Pacific food coatings market analysis, the meat & seafood segment accounted for the highest share in the market in 2020. 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.
📍Introduction to the Asia-Pacific Food Coatings Market
The Asia-Pacific food coatings market is expanding rapidly, driven by the region's growing food industry and increasing consumer demand for enhanced food products. Food coatings, which include batters, breadings, and specialty coatings, play a crucial role in improving the texture, flavor, appearance, and shelf life of food products. They are widely used in various applications such as meat, seafood, poultry, bakery products, and snacks. The market is characterized by innovations and diverse offerings tailored to meet the specific needs of the region's consumers.
📍Market Drivers and Trends
Several key factors are propelling the growth of the food coatings market in the Asia-Pacific region. The rising consumption of convenience foods and ready-to-eat meals is a major driver, as these products often require coatings to enhance their sensory attributes and shelf life. Additionally, the increasing awareness of food safety and quality among consumers has led to higher demand for coated food products that offer better protection against spoilage and contamination. Technological advancements in coating processes and the introduction of natural and clean-label ingredients are also significant trends shaping the market. Moreover, the expanding fast-food industry and the growing popularity of western-style cuisine in the region are boosting the demand for coated foods.
📍Regional Insights
The food coatings market in the Asia-Pacific region is diverse, with significant variations across different countries. In China, the largest market in the region, there is a high demand for coated meat and seafood products, driven by the burgeoning middle class and changing dietary preferences. Japan's market is characterized by a strong preference for tempura and panko coatings, which are integral to traditional Japanese cuisine. India, with its rich culinary heritage, sees a growing demand for coated snacks and bakery products, influenced by urbanization and increasing disposable incomes. Southeast Asian countries like Thailand and Vietnam are witnessing a surge in demand for coated poultry and seafood, reflecting the region's dynamic food culture and rising tourism industry.
📍Challenges and Opportunities
Despite its growth prospects, the food coatings market in the Asia-Pacific region faces several challenges. Fluctuating raw material prices, stringent regulatory standards, and the need for extensive research and development can impact market dynamics. Additionally, the growing emphasis on health and wellness poses a challenge, as consumers seek healthier alternatives to traditional coatings. However, these challenges also present opportunities for innovation and differentiation. Companies can focus on developing healthier coatings, such as those with reduced fat and sodium content or made from natural and organic ingredients. Embracing sustainable sourcing practices and leveraging advanced coating technologies can further enhance market competitiveness. Collaborations with local food manufacturers and continuous adaptation to regional tastes and preferences will be key to capturing the full potential of the Asia-Pacific food coatings market.
📚 Interested to Procure the Data Inquire:
As per the Asia-Pacific food coatings market trends, in 2020, China accounted for the highest share in the 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 industry, 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 the food coatings market in the Asia-Pacific region.
Key findings of the study
. By type, the predust segment was the highest contributor to the market in terms of value, and is estimated to grow at a CAGR of 4.7% from 2021 to 2030.
. By application, the meat & seafood segment accounted for the highest Asia-Pacific food coatings market share in 2020, growing at a CAGR of 7.2% from 2021 to 2030.
. By form, the dry segment accounted for the highest market share in 2020, growing at a CAGR of 7.5% from 2021 to 2030.
. By country, China occupied the maximum share in the market in 2020 and is expected to be the dominating country during the Asia-Pacific food coatings market forecast period.
📚 Make a Direct Purchase:
📝About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP, based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view of providing business insights and consulting to assist its clients in making strategic business decisions and achieving sustainable growth in their respective market domain.
We have professional corporate relations with various companies and this helps us dig out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high-quality of data and help clients in every way possible to achieve success. Each and every piece of data presented in the reports published by us is extracted through primary interviews with top officials from leading companies in domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
📞Contact
David Correa
5933 NE Win Sivers Drive
205, Portland, OR 97220
United States
USA/Canada (toll-free): +1-800-792-5285, +1-503-894-6022
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
...
Web:
Follow Us on Blog:
David Correa
Allied Market Research
+1 800-792-5285
email us here
Visit us on social media:
Facebook
X
MENAFN07072024003118003196ID1108414554