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(Health-NewsWire.Net, June 21, 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 an increasing need for food security of the growing population.
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The rise in the standards of living, rising working population, and the growing disposable income due to the growing economy, especially in emerging countries such as India, Brazil, and China, have led to an increase in demand for convenience and processed foods. In terms of processed foods, emerging economies have been growing at a higher rate than developed countries in the last few years, owing to the rapid growth of the processed food industry in these countries.
There has been a gradual shift in consumer choice from traditional methods of making food at home to buying packaged meals. The changing lifestyles have slowly shifted the consumer focus toward processed meat products; these product categories consist of frozen meat & seafood products and sausages, among others. Significant changes in the food processing industry over the last two decades have led to a high demand for packaged & processed meat products. This situation has driven the growth of the batter & breader premixes market.
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.
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Key players are Kerry Group (Ireland), Bunge Limited (US), Newly Weds Foods, Inc. (US), McCormick & Company (US), Showa Sangyo Co., Ltd. (Japan), Blendex Company (US), Breading & Coating Ltd (UK), 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), and others.
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