The batters and coatings market size is set to be valued at USD 670.1 Million by 2032 and is projected to reach USD 403.6 Million in 2022. The market is anticipated to grow at a CAGR of 5.2% in the forecast period from 2022 to 2032.
Plant-based products are both healthier and safer than animal-based products. The batters and coatings market is being driven by the growing popularity of veganism around the world. Increased adoption of batters and coatings is primarily due to their growing popularity among health-conscious consumers, as well as the product’s versatility in various applications.
Another factor driving sales of batters and coatings is the fact that they are incredibly versatile. Both these products can be used as a base for a variety of dishes, from savory to sweet. As they are made from plant-based ingredients, batters and coatings are considered to be suitable for vegans and those with gluten sensitivities.
So if an individual is looking for a healthy and delicious way to add more protein to their diet, batters and coatings can be helpful for the same. With their growing popularity, a person is sure to find a product that fits his or her needs. To keep up with the evolving batters and coatings market trends, batters and coatings manufacturers are developing novel ways to incorporate their products into various processed foods.
Key Takeaways:
- India currently holds a batters and coatings market share of around 6.2% in South Asia.
- Based on batter type, the tempura segment is expected to reach 4.3% in the batters and coatings market in 2022.
- By coating type, the cracker meal segment is projected to account for a share of 2.5% in 2022.
- During the forecast period, the batters and coatings market in the U.K. is expected to grow at a rapid CAGR of 4.4%.
- During the forecast period, the Germany batters and coatings market is set to grow at a high CAGR of 28.9%.
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Competitive Landscape
The global batters and coatings market is characterized by high fragmentation and intense competition, with numerous local and regional players actively participating. Major companies are employing a variety of strategies, including partnerships, expansions, mergers and acquisitions, and collaborations, to strengthen their market position and outpace competitors.
Some of the leading companies operating in the batters and coatings market are General Mills (USA), Pinnacle Foods, Inc., Pinnacle Foods (USA), Conagra Brands (USA), Kroger (USA), Archer Daniels Midland Company, Associated British Foods plc (UK), Unilever plc (UK), Ingredion Incorporated, Kerry Group plc, AAK AB, Premier Foods plc (UK), MTR Foods Pvt., CSM Bakery Solutions, ITC Limited, Britannia Industries Limited, Parle Products Private Limited, Nestle India Limited. Aashirvaad Atta, Ltd., and Kellogg Company.
For instance,
- In April 2022, iD Fresh Food, a Bengaluru-based consumer brand, announced that it is planning to start an idly-dosa batter factory in Hyderabad to capitalize on the high demand for healthy food items. The company is also thinking of setting up another plant in New Delhi.
Batters and Coatings Market Outlook by Category
By Distribution Channel:
- Offline
- Online
By Application:
- Meat
- Fish
- Bakery Products
- Seafood
- Cereal
- Snack Vegetable
- Dairy
By Batter Type:
- Adhesion
- Tempura
- Beer
- Thick
- Wheat Flour
- Corn Flour
- Customized
By Form:
- Dry
- Liquid
By Coating Type:
- Bread Crumbs
- Cracker Meal
- Spices and Herbs
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East and Africa
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