PORTLAND, Oregon, March 27, 2019 /PRNewswire/ — Allied Market Research published a recent report, titled, ‘Batter and Breader Premixes Market by Product Type (Batter and Breader) and Application (Meat, Fish & Seafood, Poultry, and Vegetables): Global Opportunity Analysis and Industry Forecast, 2018–2025.’ The report offers a detailed analysis of drivers & opportunities, changing market trends, competitive landscape, key segments, and market size & estimations. The key industry insights help the interested business owners and individuals understand the entire market. According to the report, the global batter and breader premixes market garnered $1.1 billion in 2017 and is expected to hit $1.8 billion by 2025, registering a CAGR of 5.9% during the forecast period.
Increase in demand for ready-to-cook meals and processed meat products among consumers, rise in adoption of fast food culture coupled with growth in number of fast food outlets and quick service restaurants all around the world have fueled the growth of the global batter and breader premixes market. On the other hand, volatile raw materials costs are anticipated to be the key restraint for the market growth during the forecast period. However, increase in adoption of healthy lifestyle has created multiple opportunities in the segment which, in turn, has augmented the demand for better-quality food products with added nutritional benefits among the consumers.
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Batter premixes to maintain its dominance throughout the forecast period
By product type, the batter premixes segment accounted for more than three-fifth of the total market share in 2017 and is expected to dominate throughout the forecast period. This is due to the increase in the use of batter in fried food to improve the organoleptic properties. Moreover, rise in the number of fast food and quick service restaurants has also led to the growth of this segment.
The meat segment to dominate during the forecast period
By application, the meat segment contributed to nearly two-fifth of the total market share in 2017 and is expected to retain its top status through the period, 2018–2025. Higher consumption of fried and packaged meat all around the world has spurred the growth of the segment.
North America to be dominant by 2025
Based on region, North America held more than one-third of the total market share in 2017, thereby coming out as the largest shareholder in the market. High consumption of fried and convenience foods in the region has accelerated the growth.
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Key players in the market
The report includes a detailed competitive analysis of the major market players, such as Ingredion Incorporated, Solina Group. Archer-Daniels-Midland Company, Kerry Group PLC, Bowman Ingredients, Coalescence LLC, Cargill Inc, McCormick & Company, Inc, Dutch Protein & Services B.V., and Newly Weds Food, Inc. These market players have adopted various strategies including collaborations, joint ventures, partnerships, expansions, and others to gain a strong position in the industry.
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Increase in demand for ready-to-cook meals and processed meat products among consumers, rise in adoption of fast food culture coupled with growth in number of fast food outlets and quick service restaurants all around the world have fueled the growth of global batter and breader premixes market