The Asia-Pacific food coatings market size was valued at $572.00 million in 2017, and is projected to reach $990.41 million by 2025, growing at a CAGR of 7.1% from 2018 to 2025.
Rapid economic growth and increase in per capita income in the Asia-Pacific region have led to significant changes in food production and food consumption patterns. This is majorly attributed to changes in lifestyles, due to increase in disposable income. The predust segment dominates the Asia-Pacific food coatings market, owing to increase in consumption of fried food in the Asian countries such as China, Japan, and India. This is anticipated to boost the demand for food coatings, thereby driving the growth of the Asia-Pacific food coatings market. In addition, rise in demand for meat & seafood products boosts the Asia-Pacific coatings market growth.
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Busy lifestyle persuades people to find easy alternatives to food. As a result, the frequency of visiting QSRs has increased, which in turn has driven the demand for food coatings in Asia-Pacific.
In terms of value, China and India collectively contributed around two-fifths of the market share in the Asia-Pacific food coatings market in 2017.
The leading players in the Asia-Pacific food coatings market have focused on product launch as their key strategy to gain a significant share in the market. The key players profiled in the report include DPS/Dutch Protein & Services B.V., Kerry Inc., McCormick & Company, Inc., Continental Mills, Inc., TNA Australia Pty Limited, Bowman Ingredients, Cargill, Bhler AG, Dumoulin, GEA Group, and JBT Corporation.
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Key Findings of the Asia-Pacific Food Coatings Market :
- In 2017, China was the highest contributor to the Asia-Pacific food coatings market in terms of value and volume, growing at a CAGR of 7.4% and 6.2%, respectively, from 2018 to 2025.
- In 2017, 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 5.4% from 2018 to 2025.
- In 2017, batter segment is expected to growth at the highest CAGR of 8.6% from 2018 to 2025.
- In 2017, meat & seafood segment accounted for the highest market share in food coatings market, and is estimated to grow at CAGRs of 6.5%.
- In 2017, India accounted for a prominent market share in food coatings market, and is anticipated to grow at the highest CAGRs of 9.2%.
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