Meat Coating Ingredients Market: Market Outlook
In the past few decades, the world wide consumption and production of meat have increased rapidly and, in many parts of the world, the per capita consumption of meat is continuing to grow. However, regions like North America, as well as Europe, are gradually losing market shares, whereas regions like Latin America and Southeast Asia have become new centers of production and consumption.
Reasons for the success of meat products are: i) the healthy image of the product, mainly due to the high protein/ low-fat content coupled with a balanced n-6 to n-3 PUFA ratio; ii) the increased availability of further processed products (ready-to-cook, ready-to-eat products) which can be conveniently prepared at home without time-consuming preparation; iii) lower price in respect to red meats.
Batters and breading contain a variety of ingredients including flours, starches, proteins, colorants and seasonings and each play an important role in delivering the texture and flavor of the finished product. The process food manufacturers face a challenge to achieve significant fat reduction thus different such as changing the cooking method, selecting different oils, starch in the coating systems or adding different proteins are being tested
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Meat Coating Ingredients Market: Dynamics
The major factors which are boosting the growth of Meat Coating Ingredients are the consumption of processed food. Also, the driving factor for functional meat ingredient is usage in organic meat products, the organic poultry market is growing at a considerable rate. Increase in consumption of meat products in Latin America and South East Asia has further fueled the Meat Coating Ingredients market.
Rising demand for pork meat, greater emphasis the on processed meat and poultry products, the rise in consumer preference toward protein-rich food has been the driving factor of functional meat ingredient market. Few of the factors which have affected the functional meat ingredient market is perceived health risk of eating meat.
As the USDA and other government agencies have put more energy toward promoting healthy lifestyles new regulations and with the increasing expectation the supply of processed meat can be affected in turn affecting the Meat Coating Ingredients market.
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Meat Coating Ingredients Market: Market Segmentation
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Meat Coating Ingredients Market: Key Players
Some of the key players identified in meat coating ingredients market are:-Cargill, Incorporated, Archer Daniels Midland Company, E. I. du Pont de Nemours and Company, Kerry Group plc, Ashland Inc., Tate & Lyle PLC, AGRANA Group, PGP International, Inc. and others.
Opportunities for the Key Players in the Global Meat Coating Ingredients Market
North America accounts for significant share for Meat Coating Ingredients market, owing to the high growth and demand for healthy eating regime in the region as compared to other developed regions. Moreover, the North America region accounts for healthy share in terms of consumption of meat products, Meat Coating Ingredients being primarily used for development of poultry products for further processed products because of its bland flavor and soft texture which allow producers to impart desired flavor profiles, the meat consumption in the region is anticipated to further add value to the Meat Coating Ingredients market in the region.
In terms of developing region of Asia-Pacific, the growth of the Meat Coating Ingredients is significantly high and with comparatively high CAGR in forecast period owed to factors such as such as rapid economic development, globalization and increasing demand of the Meat Coating Ingredients in food & beverages industry and its sub-verticals, and high usage of the In addition, Over the forecast period, Asia-Pacific market for is anticipated to grow significantly owing to the growth of hotel industry in the region.
Overall, the global market for Meat Coating Ingredients is expected to grow significantly by the end of forecast period. Meat Coating Ingredients market for the Asia Pacific is also expected to witness rapid growth during the forecast period primarily attributed to the growth of food and beverage industry, especially in China and India. The Meat Coating Ingredients market is growing at a faster rate and is expected to grow at high CAGR in forecasted years.
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As the effects of COVID-19 are felt around the world, consumer products food & beverage companies are facing significantly reduced consumption and supply chain disruption challenges. All the major countries around the globe have announced the total lockdown to counter the COVID 19 pandemic.
Meat industry is one of the most affected sector at this time. The disrupted international trade and supply chain is leading to affect the on time delivery which affects the raw material or loss of meat. These factors affecting the most on the growth of the global meat and meat ingredients market at least for the next couple of years.
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