Food Coating Ingredients Market Dynamics Trends, Segmentation, Key Players, Application and Forecast
The
global food coating ingredients market is expected to increase from
$2,645.6 million in 2014, and reach $3,698.6 million in 2020 with a CAGR of
5.8%. The up surging bakery and confectionery industries, increasing demand for
convenience foods, growing consumer demand for food protection agents are some
of the factors, driving the growth of the global food coating ingredients
market.
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The
Asia-Pacific food coating ingredients market is
expected to witness fastest growth, with a CAGR of 8.7% during 2015 – 2020. The
higher economic growth and busy lifestyles are also driving the growth of the
frozen food market, and consequently driving the upsurge in the_ food coating
ingredients market within the region. Due to the increasing health awareness,
the demand for foods with organic ingredients has been propelling, which is
providing growth opportunities for the global food coating ingredients market.
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The
growing demand for bakery products and up surging domestic bakery production in
North America is intensifying the growth of the food coating ingredients market
in the region. Western Europe is the largest food coating market in
European region, as of 2015. The main reason for the growth of the food coating
ingredients market in Western Europe is the existence of large number of
end-user industries in the bakery and confectionery segment.
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The
major companies operating in the global food coating ingredients market include
Archer Daniels Midland Company (ADM), Cargill Inc., E.I. du Pont de Nemours and
Company, Ashland Inc., Ingredion Incorporated, Agrana Beteiligungs AG, Kerry
Group, Döhler GmbH, PGP International Inc., and Balchem Corporation.
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