Pune, March 21, 2022 (GLOBE NEWSWIRE) -- As per the report published by The Brainy Insights, the global batter & breader premixes market is projected to grow from USD 3.55 billion in 2020 to USD 5.99 billion by 2028, at a CAGR of 7.51% during the forecast period 2021-2028.
There is a huge demand for processed and convenience food across the globe, with the changing day to day lifestyle of consumers.There is a rising demand for ready to cook and ready to eat meals. Busy lifestyle consumers are increasingly opting for the last minute food and ready to eat food. In the regions such as Europe and America, the majority of the population prefers the food which save the cooking time. Premixes are increasingly used in the processed and convenience food to add the values and to enhance the taste of food. Thus, rising demand for processed and convenience food driving the growth of the market.
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Batter and breader premixes are the food coating, which is used to apply it on the various foods including meat, vegetables, and seafood. These premixes are generally used for enhancement of the taste of food. The breader and batter premixes are the blend of micronutrients which are added to the food. It includes vitamins, minerals, and other nutritional additives. It generally adds in the initial phase of food manufacturing. These premixes helps to add the valued in the food. It also helps to reduce the product development time and improvise the product efficiency.
Global batter & breader premixes market is witnessing a rapid growth owing to increasing awareness about fortified food among the consumers across the globe. In addition to this, rising demand for the convenience and processed food, further boosting the growth of the market. Furthermore, increasing consumption of meat, poultry, and seafood products, also boosting the demand for batter and breader premixes. Increasing demand for premixes in the developing countries is likely to offer new growth opportunities for the vendors in the market. However, fluctuation in the raw material prices may hamper the growth of the market over the forecast period.
Major players in the global batter & breader premixes market are Bunge Limited, Showa Sangyo Co., Ltd., Kerry Group, Cargill, Incorporated, McCormick & Company, Newly Weds Foods, Inc., Associated British Foods plc, Euroma, Archer Daniels Midland Company, and House-Autry Mills among others. The key players of global batter & breader premixes market are majorly focusing on adoption of various strategies such as new product development, joint venture, collaboration, technological integration, product innovations, mergers & acquisitions, and partnerships to gain the significant market share in the industry.
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• In November 2016, Kerry Group announced the acquisition of Geneden, the U.S. based probiotic technology firm to widen the application and product offering in the various geographical regions.
• In January 2018, Archer Daniels Midland Company announced the expansion of food premix business by opening new food premix plant in Zhangzhou, South China.
The adherence batter segment accounted for the major market share and USD 1.50 billion in the year 2020
The batter type segment is divided into adhesion batter, tempura batter, beer batter, thick batter, and customized batter. The adherence batter segment accounted for the major market share and USD 1.50 billion in the year 2020. This is mainly due to increasing consumption of adherence batter in the restaurants and fast food outlets. It helps to provide the solid content to the food with low viscosity.
The crumbs and flakes segment dominated the global batter and breader premixes and held the major market share of 68.45% in the year 2020
The breader type segment is classified into crumbs & flakes, flour & starch, pulses and others. The crumbs and flakes segment dominated the global batter and breader premixes and held the major market share of 68.45% in the year 2020. These crumbs and flakes and made up from the cereals flours. Increasing adoption of crumbs & flakes for chicken nuggets, fish fingers and other dishes driving the growth of the market.
The meat product segment accounted for the major market share and valued at USD 2.02 billion in the year 2020
The application segment includes meat, vegetable, and seafood. The meat product segment accounted for the major market share and valued at USD 2.02 billion in the year 2020. The higher consumption of meat, processes and ready to cook meat, are some of the factor driving the growth of the market.
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Regional Segment Analysis of the Batter & Breader Premixes Market
• North America (U.S. , Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
• Asia-Pacific (China, Japan India, Rest of APAC)
• South America (Brazil and Rest of South America)
• Middle East and Africa (UAE, South Africa, Rest of MEA)
The North America region emerged as the largest market for the batter &breader premixes market and valued at USD 1.44 billion in 2020. The growth is mainly due to higher consumption of meat, seafood, and poultry product in the countries such as the U.S. and Canada. In addition to this, increasing consumption of processed and convenience food by the consumers due to their busy lifestyle, further driving the growth of the market. The Asia Pacific region is anticipated to rise at the highest CAGR of 7.9% over the forecast period. This is mainly due to increasing awareness about fortified food which gives the vitamins and various other micronutrients for the healthy body. In addition to this, rising adoption of western food habits in the Asia Pacific region, further driving the growth of the market.
About the report:
The global batter &breader premixes market is analyzed on the basis of value (USD Billion) volume (kilotons), export (kilotons), import (kilotons). All the segments have been analyzed on global, regional and country basis. The study includes an analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter's five forces model, attractiveness analysis, and competitor position grid analysis.
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