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(Health-NewsWire.Net, April 29, 2021 ) The global Batter & breader premixes market size is estimated to be valued USD 2.5 billion in 2021 and is projected to reach a value of USD 3.4 billion by 2026, growing at a CAGR of 6.4% during the forecast period. The growth of this market is attributed to the increasing inclination towards low carb and gluten free products.
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COVID-19 Impact on the Batter & breader premixes Market:
COVID-19 impact on the batter & breader premixes is low to moderately affected. The demand for convenience and packaged food has risen exponentially since the COVID-19 pandemic. With the outbreak of COVID-19 across regions, the manufacturing of batter & breader premixes witnessed a slowdown in 2020, owing to the lockdowns, closure of the international borders, and delay in cross border transit, which disrupted the supply chain. Although the demand for food has been growing, the supply has been significantly impacted by COVID-19. The lockdowns and increased infected cases are resulting in labor shortages and a reduced supply of raw materials.
North America is projected to be the largest regional market for batter & breader premixes. This is due to the high demand for convenience food items in the meat & seafood category. An increase in the import of breaded seafood products in countries, such as the US, has also been driving the batter & breader premixes market in this region. The rising health concerns have increased the poultry consumption of the US, which has influenced the batter & breader premixes market.
The Asia Pacific market is projected to grow at the highest CAGR of 6.7%, in terms of value, during the forecast period, driven by the growing demand for convenience foods and processed food, coupled with the changing lifestyle trends in the region. Other factors include changes in diets, which lead to an increase in the demand for processed meat products and the emergence of fast-food and quick-service restaurants in the region.
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Leading companies are Kerry Group (Ireland), Bunge Limited (US), Newly Weds Foods, Inc. (US), McCormick & Company (US), Showa Sangyo Co., Ltd. (Japan), Verstegen Spices & Sauces B.V. (Netherlands), Lily River Foods (US), Blendex Company (US), Nippon Flour Mills Co., Ltd. (Japan), Ingredion Incorporated (US), Associated British Foods plc (UK), Cargill, Incorporated (US), Archer Daniels Midland Company (US), Euroma (Netherlands), House-Autry Mills (US), BRATA Produktions (Germany), Solina Group (France), Prima Limited (Singapore), Bowman Ingredients (UK), and Coalescence LLC (US).
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