Batter and Breader Premixes Market Global Trends, Share, Growth, Opportunity and Forecast to 2025
According to a new report published by Allied Market Research, titled,"Batter and Breader Premixes Market by Product Type and Application: Global Opportunity Analysis and Industry Forecast, 2018 - 2025,"the global batter and breader premixes market size was $1,155.7 million in 2017 and is estimated to reach $1,819.3 million in 2025 growing at a CAGR of 5.9% throughout the forecast period. The meat segment dominated the global batter and breader premixes market in 2017 and is expected to maintain the dominance throughout the forecast period. Batter and breader premixes are food coatings used while preparing fried foods. Batter is typically a thin coating to retain the moisture of food during deep frying. Breader is prepared using cereal-flour-based blends or thermally processed wheat-flour dough-based dry bread crumbs.
The batter and breader premixes is driven by rise in consumption of meat, fish, seafood, and poultry. Moreover, increase in demand for ready-to-cook meals and processed meat products among consumers has also contributed to the batter and breader premixes market growth. Furthermore, increase in adoption of fast food culture coupled with rise in number of fast food outlets and quick service restaurants all around the world fuel the growth of the market. However, varying prices of raw materials used to manufacture batter and breader hinder the growth of the market and act as the major restraint for this industry. Furthermore, the batter and breader premixes industry players focus on new and innovative products catering consumers ever changing needs, owing to increase in adoption of healthy lifestyle, which in turn increases the demand for better-quality products with extra nutritional benefits among the consumers. Therefore, introduction of new products such as gluten and Genetically Modified Organism (GMO) free batter and breader premixes is expected to provide lucrative opportunities for the market growth in the future.
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The report segments the batter and breader premixes market based on product type, application, and region. On the basis of type, the market is segmented into batter premixes and breader premixes. The breader premixes segment is further split into adhesion batter, tempura batter, and beer batter while the breader segmented is further classified into crumbs & flakes and flour & starch. Based on application, the market is divided into meat, fish & seafood, poultry, and vegetables. By region, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
In 2017, based on application, the meat segment accounted for the highest share of the global market, whereas the vegetable segment is expected to grow at the highest CAGR of 6.5% during the forecast period owing to adoption of veganism and restrictions over consumption of certain meat products in some countries.
In 2017, North America is expected to remain dominant region in the batter and breader premixes market. However, Asia-Pacific is expected to grow at the highest CAGR of 6.3% throughout the forecast period.
Key findings of the Batter and Breader Premixes Market:
- Based on product type, the batter segment was the highest contributor to the batter and breader premixes market in terms of value in 2017 and is expected to grow at a CAGR of 5.8%, from 2018 to 2025.
- Based on application, the meat segment was the highest contributor to the batter and breader premixes market in terms of value in 2017 and is estimated to grow at a CAGR of 5.9% from 2018 to 2025.
- Based on product type, the breader premixes segment is expected to grow at the highest CAGR of 6.1% from 2018 to 2025.
- Based on application, the vegetable segment accounted for less than one-fifth of the batter and breader premixes market share in 2017 and is estimated to grow at a CAGR of 5.4%.
- Based on application, the poultry segment accounted for more than one-fourth of the market share in 2017 and is anticipated to grow at the higher CAGR of 6.0%.
In terms of value, North America and Asia-Pacific collectively contributed around half of the global market share in 2017. The key players profiled in the report include Archer-Daniels-Midland Company, Bowman Ingredients, Cargill Inc, Coalescence LLC, Dutch Protein & Services B.V., Ingredion Incorporated, Kerry Group PLC, McCormick & Company, Inc, Newly Weds Food, Inc., and Solina Group.
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Allied Analytics LLP