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fast-food restaurants, also known as the quick service restaurants (QSRs), majorly boosts the growth of the Asia-Pacific food coatings market.
PORTLAND, OR, UNITED STATES, December 5, 2023 /EINPresswire.com/ -- The increase in popularity of fast-food restaurants, also known as the quick service restaurants (QSRs), 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 population base and surge in the number of QSRs such as McDonalds, Burger King, Wendy’s, Subway, and Dunkin’ Donuts, which contribute toward the market growth. The business of QSR chains in India is expected to grow by eight-folds by 2025, owing to rise in disposable income and increase in urbanization, which lead to higher consumption of food coatings. According to the India Brand Equity Foundation (IBEF), by 2025, about 530 million people in India are anticipated to reside in urban areas, which offers lucrative opportunity toward the expansion of QSR chains. This in turn is expected to provide potential opportunity for the manufacturers of food coatings.
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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.
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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.
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.
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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.
Trending Report in the Food and Beverages Industry:
Trending Report in the Food and Beverages Industry:
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