Global Confectionery Coating Market: Overview
Technology forms key component of growth in a number of industries and markets. This is why investments towards its improvement are growing. It is also true for global confectionery coating market, which is set to chart growth a robust growth rate over the period of 2023 to 2030, as per Transparency Market Research. Opportunities will crop up for market players and valuation will touch a higher mark.
One of the biggest growth factors in the global confectionery coating market is increase in food processing. From breakfast cereal and snacks to bakery and meat, demand for such products is growing, driving the market upward and forward. Hectic lifestyle is major growth enabler in the market over the forecast period.
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Global Confectionery Coating Market: Notable Developments
In the vendor landscape of this particular market, players are taking up over and sophisticated growth strategies to create an edge over competitors. These measures are creating a number of notable developments in the global confectionery coating market. Few prominent ones are detailed out below:
2017: Clean label coating range was launched by Cargill Inc. and this is quite in step with the evolving demand for products, especially created by the millennial populace. This is not only making the company ore popular among the demographic, but also helping it claim higher market share.
2016: In this year, another company Arnott and Co. and another one called Capoll LLC developed new products. While the one by former targeted vegans – a rapidly expanding consumer group, the latter focused on organic, products which are in high demand. Both show how it is significant to be in tune with changing demands of the consumers.
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Players known for their pro-activeness and skill in claiming prominent revenue shares in the market are:
- Capol LLC
- Rascal Confectionery Ltd.
- The Warrell Corporation
- Barry Callebaut AG
- Mantrose-Haeuser Co. Inc.
- Thew Arnott & Co Ltd.
- Sweetdreams Limited
- Norevo GmbH
- Clasen Quality Coatings Inc.
- Soyuzsnab Group of Companies
- Alvas Group
- Bunge Loders Croklaan
Global Confectionery Coating Market: Key Trends and Drivers
- A large number of people are shifting towards clean label products and are asking for the health and sustainability factor of the same to be provided. This is driving players operating in the global confectionery coating market towards healthy and label friendly ingredients. A push, therefore, is also seen towards organic produce. Additionally, some players are branching towards vegan options as the number of vegans worldwide – even in meat eating countries – is growing a dizzying pace.
- Increase in demand for bakery products and confectionary is driving up demand for coatings, which improve appearance of these. Growing disposable income is one of the most notable factors driving demand in the market. Additionally, demand for easy and fast food is growing and that too is contributing to growth in the global confectionery coating market over the forecast period.
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Global Confectionery Coating Market: Regional Analysis
Competitive markets like those of Germany, the United Kingdom, the United States of America, and France have become saturated. Presence of major manufacturers here helps them account for notable global confectionery coating market share. It is pertinent to note here that over the forecast period, mentioned above, the Asia Pacific will contribute significantly to growth in the global confectionery coating market owing to growing disposable income and robust economic growth in countries like India and China.