atter and Breader Premixes Market grow at a CAGR of 5.1%
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the global batter and breader premixes market size at USD 2.91 billion in 2022. During the forecast period between 2023 and 2029, BlueWeave expects the global batter and breader premixes market size to grow at a CAGR of 5.1% reaching a value of USD 4.12 billion by 2029
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the global batter and breader premixes market size at USD 2.91 billion in 2022. During the forecast period between 2023 and 2029, BlueWeave expects the global batter and breader premixes market size to grow at a CAGR of 5.1% reaching a value of USD 4.12 billion by 2029. Rising demand for frozen foods and ready-to-eat meals are two significant growth factors for the global batter and breader premixes market. With changing eating habits and lifestyles, processed meat and seafood are seeing a considerable increase in demand, which is expected to propel the global batter and breader premixes market during the forecast period.
Global Batter and Breader Premixes Market – Overview
Batter and breader premixes are a type of food coating that is used to improve the flavor, texture, and moisture content of meat, poultry, vegetables, fish, and shellfish while frying or grilling. Usually, food is coated with a thin layer of batter to keep its moisture while deep frying. Typically, batter is produced by combining liquid and flour with other ingredients such as leavening agents, shortening, sugar, salt, eggs, and flavorings. Breadings, which are used in a dry form, mix flours, functional additives, and crumb technology to offer an infinite number of product coating options.
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Global Batter and Breader Premixes Market
Segmental Information
Global Batter and Breader Premixes Market – By Distribution Channel
Based on the distribution channel, the global batter and breader premixes market is segmented into online and offline. The offline segment dominated the market until the COVID-19 outbreak, owing to the availability of a wide variety of products of different brands in supermarkets and hypermarkets. However, the online segment is anticipated to register the highest CAGR during the forecast period. With the emergence of e-grocery stores such as Amazon.com, Walmart.com, and Instacart, along with the convenience of doorstep delivery and online payment modes, the demand for batter and breader premixes through online channels is projected to spike.
Impact of COVID-19 on the Global Batter and Breader Premixes Market
The global batter and breader premixes market was moderately affected by the COVID-19 pandemic. The demand for packaged and convenience foods increased during the pandemic, manufacturers witnessed a significant decline in its production due to the lockdown, labor scarcity, and supply chain disruption, which caused shortages of raw materials. However, market demand for batter and breader premixes remained relatively stable since fast food companies and restaurants continued to operate through online delivery applications. Furthermore, rising consumer health consciousness and a boom in the popularity of home cooking during the lockdown period increased demand for batter and breader premixes, proliferating overall market growth.
Competitive Landscape
Major players operating in the global batter and breader premixes market include McCormick & Company, Inc., Newly Weds Food, Inc., Coalescence LLC, Solina Group, Ingredion Incorporated, Archer-Daniels-Midland Company, Dutch Protein & Services B.V., Cargill Inc., Bowman Ingredients, Kerry Group PLC, Ajinomoto Co. Inc., Bunge Limited, Breading & Coating Ltd., and House-Autry Mills Inc.
To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.
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