(I-BusinessNews.Com, December 13, 2019 ) The global batter & breader premixes market size is estimated to be valued at USD 2.2 billion in 2019 and is projected to reach USD 3.2 billion by 2025, at a CAGR of 6.4% during the forecast period. The rising demand for processed food products and increasing fast food centers are projected to drive the batter & breader premixes market.
Batter & breader premixes are coating ingredients, which exhibit strong growth, with the rising trend of the consumption of convenience, bakery, and poultry food, globally, resulting in more demand. The growth of the batter & breader premixes market has been supported by the increase in disposable income and rapid urbanization in developing countries such as India, Brazil, and China. There have also been several initiatives by batter & breader premix ingredient manufacturers to strengthen their production capabilities through the expansion of their manufacturing facilities and acquisition of food ingredient companies to increase their product portfolios in these regions.
The batter & breader premixes market is witnessing significant growth in most of the regions across the world. The rise in the standards of living, growing working population, and the increasing disposable income due to the improving economy, especially in emerging countries such as India, Brazil, and China, have led to an increase in demand for convenience and processed foods. In terms of processed foods, emerging economies have been growing at a higher rate than developed countries in the last few years, owing to the rapid growth of the processed food industry in these countries.
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The US and Germany are advanced in the food processing technology and are experiencing slower growth in terms of revenue from the food processing industry.
The demand for batter & breader premixes is high in developed markets such as the US and those in Europe. Developing countries, namely, China and India, in the coming years, are expected to experience a substantial upsurge in demand for batter & breader premixes. This demand is expected to drive the production of processed and convenience foods.
The batter & breader premixes market in developed economies, such as the US and Europe, is saturated, as the penetration and adoption of their usage are quite high. Emerging economies, such as India and China, in Asia Pacific, are exhibiting high growth. The Asia Pacific also provides a cost advantage in terms of production and processing. This high demand, coupled with the low cost of production, is a key feature, which will aid batter & breader premix suppliers and manufacturers to target this market.
Many domestic and global players provide batter & breader premixes of various types across the world. Major manufacturers have their presence in the North American and European countries. The key companies in the batter & breader premixes market are Kerry Group (Ireland), Bunge Limited (US), Newly Weds Foods, Inc. (US), McCormick & Company (US), Showa Sangyo Co., Ltd. (Japan), Associated British Foods plc (UK), Cargill, Incorporated (US), Archer Daniels Midland Company (US), Euroma (Netherlands) and House-Autry Mills (US).
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