Food Coating Ingredients Market Is Expected To Reach USD 4.39 Billion By 2023

LAS VEGAS, Dec. 06, 2017 (GLOBE NEWSWIRE) -- The Food Coating Ingredients Market was worth USD 2.67 billion in the year of 2014 and is expected to reach approximately USD 4.39 billion by 2023, while registering itself at a compound annual growth rate (CAGR) of 5.69% during the forecast period.

Rising food and beverage industry coupled with increasing popularity of fast food restaurants amongst several age groups has been one of the most impactful market drivers. Food coating is a major part of food processing activity and is utilized to enhance the structure of the product along with texture and taste.

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The growing food processing industry is anticipated to boost the product’s growth in the market. Furthermore, the gist in adoption patterns of the customers and most of them choosing processed food, frozen and ready to eat foods is predicted to impel the global food coating ingredients market.

The fast food market segment is the most swiftly growing market and is prognosticated to flourish at a faster pace in the developing economies like Asia and Africa. Escalating per capita income, increasing inclination towards junk food along with fast-paced life amongst youngsters is predicted to propel the global market further.

Region-wise, Asia Pacific is predicted to be the most rapid growing market due to increasing demand for processed food products, rising disposable income, and booming population in this region. Moreover, Europe is probable to be accountable for nearly 30% of the market share by 2025.

Sugars & Syrups occurred as the biggest product segment in 2016 and is anticipated to produce revenue of more than significant amount during the forecast period. The United States food coating ingredients need in the bakery products is said to propel the market.

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