Europe Food Coating Ingredients Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The European food coating ingredients market is anticipated to register a CAGR of 5.45% during the forecast period (2022-2027).

In 2020, the global COVID19 pandemic drastically affected the growth of the European food coating ingredients market. This was since there were closures of several manufacturing units, which resulted in a decline in food coating production. Moreover, due to these closures, a price shift was observed in the respective region; for instance, the price of sugar and cocoa increased, ultimately increasing the product's price. Therefore, Europe's food coating ingredients market witnessed a change in consumer buying behavior.

Natural ingredients have started occupying a significant share in the formulations of coating ingredients due to the use of natural ingredients. Therefore, European consumers have started increasing the consumption of edible coating foods, driving European market growth.

Moreover, because these ingredients offer dynamic textures to RTE cereals, snacks, and nutritional bars, consumers are showcasing their interest in purchasing these food products, which has also promoted the growth of the food coating ingredients market in Europe.

Key Market Trends

Rising Utilization of Flours in Daily Routines

With the rising culture of industrialization, the lifestyle of consumers is changing. The demand for several new innovative delicacies has been increasing drastically. This has promoted the requirement of flours as food coating ingredients. For instance, in certain well-established quick-service restaurants such as KFCs, white corn flour is used as a basic ingredient in the food coating of chicken dishes as flour provides a specific crispy taste to the chicken dish, providing its consumers a new taste. Further, with the rising demand for flour-based innovative foods among consumers, several innovations have been developed in recent years, which have resulted in new product developments. In Europe, a coating system is used on meat, but it is also used with plant-based alternatives. However, there are growing health concerns about fried foods; hence, innovative practices like dipping chicken in egg or buttermilk, coating it with breadcrumbs and then cooking in the oven at 400 degrees deliver a healthier version of fried chicken. Thus, this region's rising demand for flour-based coating products is also driving the market.

Germany Holds a Prominent Share in the Market

Germany is the largest market in the European region. The country has witnessed significant growth in urbanization over a period of time. The growing urbanization has demanded the growth of enormous delicacies from different corners of the world. Moreover, due to the consistency in economic development, the country has experienced a growth in its number of service restaurants in recent years, which is also reflected in the popularity of outlets, namely KFC and McDonald's. Increasing per capita income and consumers' willingness to spend in developing economies are likely to boost the demand for food coating ingredients during the forecast period. Moreover, the growing research and development for the production of plant-based coating ingredients with increased shelf-life may create an opportunity for new entrants in the food coating ingredients market.

Competitive Landscape

The European food coating ingredients market is a mature market due to the existence of several domestic and international players in this segment. The top players in this sector are Cargill Inc., Archer Daniels Midland Company, Associated British Foods PLC, Ingredion Incorporated, and Tate & Lyle PLC. The most common strategic move among these top players are product development and product innovation because by adopting these strategies, these players can enable new variants of food coating ingredients in the market, which can enlarge the company's product portfolio, while some of the other players opt mergers and acquisitions as their major strategy, this is because it helps these top performers in this industry to sustain a dominant position and overcome the existing competitive rivalry among the other players in this market specifically.

The European food coating ingredients market is fragmented, with various players in the market. Some of the major players in the market are expanding their product portfolios by introducing innovative products.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

This product will be delivered within 2 business days.