Batter Premixes Sector: Growth Drivers and Challenges
Growth Drivers
- Advancements in the Processed Food Industry to Boost the Market Growth
Increasing consumer inclination towards the intake of ready-to-cook processed meat & seafood meals along with the increasing demand for processed food products among millennials in recent years is leading to the need for innovative food coating ingredients in order to enhance processing performance, improve functionality, and desirable characteristics. Additionally, batter premixes are specifically used in order to nullify the smell of seafood and to add flavor, crispness, proper texture, and taste to food products. Further, there are major initiatives undertaken by prominent industries such as gluten and genetically modified organism (GMO) free batter for producing nutritive, healthy, and better-quality food. This factor is anticipated to significantly expand the market. - Growing Number of Food Outlets and Restaurants to Drive the Market Growth
The rapid adoption of fast-food culture coupled with the increase in the number of fast-food outlets and quick service restaurants across the globe is anticipated to fuel the growth of the global batter premixes market. Moreover, there is an extensive demand for fast food products from the youth population in the developed as well as emerging countries. Such factors are anticipated to drive the growth of the global market over the forecast period.
Challenges
- Price Volatility of Raw Materials to Hamper the Market Growth
Despite the growing applications of batter premixes, volatility in prices of raw materials may negatively affect the market growth. Further, the growing awareness among people about the ill-effects of deep-fried foods is estimated to hinder the growth of the global market in the future.
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Frequently Asked Questions (FAQ)
Batter Premixes Market size is likely to expand at significant growth rate during the forecast period i.e., between 2025-2037.
Growing consumption of processed foods and increasing fast food restaurants will impel the market growth.
North America industry is anticipated to account for largest revenue share by 2037, on account of huge number of fast-food outlets and quick service restaurants, along with growing consumption of meat, seafood, and fried food in the region.
The major players in the market are Kerry Inc., McCormick & Company, Inc., Bunge Limited, Newly Weds Foods, Associated British Foods plc, Cargill, Incorporated, and others.
