Page 41 - FoodFocusThailand No.181 April 2021

STRATEGIC R & D

There has been a growing awareness among consumers for Need to Know
various food trends due to globalization. New and untapped markets
are being explored by food manufacturers, wherein even domestic
players are developing their product offerings to meet the rising Food coating market worldwide
competition in the market. For instance, manufacturers in China, India, is projected to grow
and Japan have developed their own food coating equipment that by USD 1.8 billion, driven by a
are as good as the imported equipment or the equipment supplied
by the market leaders in coating technology. To get an edge over compounded growth of 4.8%.
competitors in both domestic and international markets, companies
are focusing on innovating their food coating technology offerings Source: www.reportlinker.com
through innovative technologies, such as electrostatic coating, which
offers 98% coating of all products, making it an even more efficient
coating than traditional flavorings methods.
Due to the presence of major manufacturers of food coating period. As the world’s second largest economy and the new game changer
equipment and ingredient manufacturers, markets in countries such in global markets, China exhibits the potential to grow at 7.8% over the
as the US, the UK, Germany, and France have become saturated next couple of years and add approximately USD 523.3 million in terms
and extremely competitive; the growth of the food processing industry of addressable opportunity for the picking by aspiring businesses and their
in developed economies compel manufacturers to identify untapped astute leaders.
potential markets and clients in emerging markets. Food coating and The food coating market in China, the world`s second largest economy,
equipment manufacturers require substantial investments to set up according to Reportlinker, is forecast to reach a projected market size of
a new manufacturing unit in a developing country. Apart from internal USD 1.3 billion by the year 2027 trailing a CAGR of 6.5% over the analysis
investments in facilities, manufacturers also need to spend heavily period 2020 to 2027. Among the other noteworthy geographic markets
on the development of an efficient supply chain network and on the are Japan and Canada, each forecast to grow at 1% and 2.6% respectively
storage of raw materials and finished goods. over the 2020-2027 period. Within Europe, Germany is forecast to grow
Representing the developed world, the United States will maintain at approximately 1.7% CAGR.
a 3.7% growth momentum. Within Europe, which continues to remain
an important element in the world economy, Germany will add over
USD 61.6 million to the region’s size and clout in the next 5-6 years.
Over USD 49.3 million worth of projected demand in the region will เอกสารอ้างอิง/Reference
come from Rest of Europe markets. In Japan, food coating ingredients www.marketsandmarkets.com
will reach a market size of USD 203 million by the close of the analysis www.reportlinker.com

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