Global Batter and Breader Premixes Market Size is Projected to Reach 5780.23 million USD by 2024
Published Date: 2019/10/9
A batter is typically a coating to retain the moisture of food intact during deep frying. It also has other functional purpose like controlling the oil absorption, taste, texture, and external appearance of the final product.
The key brand includes Newly Weds Foods, McCormick & Company, Associated British Food, Kerry Group, Showa Sangyo, Prima, Solina, Bowman Ingredients, Bunge Limited, House-Autry Mills, Blendex Company, Shimakyu, BRATA Produktions, Coalescence, Lily River Foods and so on.
The Batter and Breader Premixes industry was 4426.89 million USD in 2018 and is projected to reach 5780.23 million USD by 2024, at a CAGR (Compounded Annual Growth Rate) of 4.67% between 2019 and 2024. The market is driven by various end-user industries, such as Meat, Seafood and others.
The leading companies own the advantages on better performance, more abundant product’s types, better technical and impeccable after-sales service. Consequently, they take the majority of the market share of high-end market. Looking to the future years, the slow upward price trend in recent years will maintain. As competition intensifies, prices gap between different brands will go narrowing. Similarly, there will be fluctuation in gross margin.
The industry is expected to remain innovation-led, with frequent acquisitions and strategic alliances adopted as the key strategies by the players to increase their industry presence. Market stays in mature period with a clear concentration. Meanwhile, optimize product mix and further develop value-added capabilities to maximize margins.
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