Batter Premixes Market Worth $1,186.4 Million by 2023
PUNE, India, August 27, 2018 /PRNewswire/ --
According to a new market research report "Batter & Breader Premixes Market by Application (Meat, Seafood, and Vegetables), Batter Type (Adhesion, Tempura, Beer, Thick, and Customized), Breader Type (Crumbs & Flakes and Flour & Starch), and Region - Global Forecast to 2023", published by MarketsandMarkets™, the global market for batter & breader premixes has grown remarkably in the last few years. The batter premixes market is estimated at USD 886.6 million in 2018 and projected to reach USD 1,186.4 million by 2023, growing at a CAGR of 6.0%. The breader premixes market is estimated at USD 430.8 million in 2018 and projected to reach USD 557.7 million by 2023, growing at a CAGR of 5.3%.
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The global Batter & Breader Premixes Market is majorly driven by the increasing consumption of ready-to-prepare and processed meat products. Additionally, factors such as the growing number of fast food chains and quick-service restaurants in developing economies and rapid urbanization along with the growing number of working professionals have also been fueling the demand for these products around the world.
By batter premix type, the tempura segment led the batter premixes market from 2018 to 2023
Tempura batter is a blend of flours and leavening agents. It is made from wheat flour, rice flour, maize flour, modified starches, proteins, gums, spice extracts, reducing sugars, and seasoning. Leavening agents are added to the mixture of the above-mentioned ingredients. No breading is required to supplement tempura batter as it renders a fine crispy structure to the final product. It is used as a coating for numerous food applications in vegetables, seafood, and meat products owing to its ability to puff and expand.
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By batter premix application, the meat segment is projected to grow at the highest CAGR from 2018 to 2023
The meat segment, by batter premix application, is projected to grow at the highest CAGR during the forecast period. Batter premix products have been majorly utilized for meat products. A majority of fast food and quick-service restaurants are opting for battered products for several meat applications such as chicken breast fillets, chicken nuggets, chicken drumsticks, chicken wings, pork rinds, chicken patties, chicken chalupa, chicken kiev, fried chicken, and chicken karaage.
By breader premix application, the chicken segment is projected to grow at the highest CAGR from 2018 to 2023
A significant rise in demand for chicken breader premix products has been witnessed from fast food chains and quick-service restaurants over recent years. As breader-coated chicken products provide crunchy mouthfeel, better taste, and appearance, they are largely in demand from customers of all age groups. Thus, in response to the growing demand for these products, breader premix users in the food service industry are prominently demanding breader premix products as well as focusing on offering new breader-coated chicken products to customers.
Asia Pacific is projected to be the fastest-growing region during the forecast period.
The Asia Pacific market is majorly driven by factors such as the rise in consumption of meat and seafood, increase in per capita income, rapid urbanization, and increasing adoption of convenience meat & seafood products. China is projected to dominate the Asia Pacific Batter & Breader Premixes Market during the forecast period. Changes in dietary habits in China that are leading to the increase in demand for convenience meat products and the emergence of fast food and quick-service restaurants are some of the key factors behind the booming batter & breader premixes industry in this country.
This report includes a study of business strategies, along with the product portfolios of leading companies such as Kerry (Ireland), Bunge Limited (US), Associated British Food (UK), Showa Sangyo (Japan), McCormick & Company (US), Euroma (Netherlands), Newly Weds Foods (US), Coalescence (US), House-Autry Mills (US), Lily River Foods (US), Blendex Company (US), CEEBEE Chemical (Malaysia), Prima (Singapore), Shimakyu (Japan), BRATA Produktions (Germany), Solina (France), and Bowman Ingredients (UK).
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