Global Bulk Food Ingredients Market Trends and Forecasts
The bulk
food ingredients market is estimated at USD 454.6 billion by 2028 from
USD 366.7 billion by 2023, at a CAGR of 4.4% during the forecast period in
terms of value. Bulk items are ingredients that go into packaged, processed,
and ready-to-eat products like chocolates, candy, and beverages. Dry fruits and
nuts, sugar, spices, wheat, rice, herbs, and other edibles make up most of
these food categories. Due to rising spending on packaged and processed goods,
the market for bulk ingredients is booming. A significant shift in lifestyle in
developing economies has also increased demand for prepared and processed
foods. Additionally, it is predicted that the market will benefit from
consumers shifting their preferences from synthetic and pre-packaged
consumables to organic, raw, and clean food items, particularly in developed
countries. These consumables, such as flour and oils, are also final goods.
They are purchased in large quantities from wholesalers and distributed to a
variety of retail stores, supermarkets, hypermarkets.
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The grains, pulses, and cereals segment of the primary
processed type of segment accounted for the largest share of the bulk food
ingredients market in 2023 in terms of value
Grains, pulses, and cereals are dry, hard, and small seeds
that are harvested for animal or human consumption. This segment includes
wheat; rice; coarse grains such as rye, barley, corn, oats, and sorghum; and
pulses comprising dry beans, peas, chickpeas, and lentils. Food consumption
continues to rise due to the population growth, changing diets, rise in
disposable income, and increase in urbanization that has resulted in a rise in
demand for ready-to-eat or convenience food products. This, in turn, is projected
to drive the demand for grains, pulses, and cereals.
The processed herbs & spices segment of the secondary
processed bulk food ingredients is projected to grow at the highest share of
the bulk food ingredients market from 2023 to 2028 in terms of value
Processed herbs & spices include grounds & blends of
herbs and spices. Currently, North America is projected to dominate the
processed herbs & spice market in terms of consumption. However, Asian
countries, such as India and China, are the major producers and exporters of
processed herbs & spices. Asian countries are projected to become major
regional markets that would contribute to the growth of the processed herbs
& spices market soon. The US and Germany are the major importers of herbs
& spices from Asian countries. Key factors such as the increase in demand
for packaged or convenience food products and meat & poultry products due
to the changing consumer lifestyles are the key factors that are projected to
increase the demand for herbs & spices globally.
The food segment of the application segment is estimated
to grow at the highest rate in the bulk food ingredients market
Due to the changing preferences of the population in
developed and developing countries, manufacturers are constantly involved in
innovation and launching new products in the market. Food products, such as
meat, milk, fruits, and vegetables, are perishable unless frozen, dehydrated,
or preserved by some canning technique. Sugar substitutes are suitable
alternatives to sugar as they contain a negligible number of calories. In
addition, only a fraction is required as compared to the amount of sugar normally
used for sweetness. Sugar substitutes are widely used in processed foods,
including baked goods, soft drinks, powdered drink mixes, candy, puddings,
canned foods, jams and jellies, dairy products, and other foods &
beverages. Sugar substitutes are also popular for household applications, and
some can even be used in baking or cooking.
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The Asia Pacific region accounted for the fastest and the
largest growing market, in terms of value, of the global bulk food ingredients
market in 2028
Busy lifestyles are encouraging the consumption of
convenience food products and an increase in disposable incomes. This has led
to an increase in demand for high-priced fortified nutritional food &
beverage products in the region. The application of food ingredients is
estimated to increase at a faster pace in the region due to its demand among
consumers. Key markets in the Asia Pacific region include China, India, Japan,
and Australia. The processed food industry in the Asia Pacific region is witnessing
high growth due to the changing lifestyles of customers. In addition, the
processed food market in the region witnesses a high demand, wherein consumer
preferences constantly change due to rapid urbanization, diet diversification,
and the liberalization of foreign direct investment in the food sector. The
rise in incomes, increase in purchasing power, and significant consumer demands
for nutritional & healthy products are the key factors that are projected
to provide high growth prospects and diversification in the region’s functional
food and beverage sector.
The key players in this include Archer Daniels Midland
Company (US), International Flavours & Fragrances Inc. (US), Olam Group
(Singapore), Cargill, Incorporated (US), Ingredion (US), Associated British Foods plc (UK), Tate
& Lyle PLC (UK), EHL Ingredients (UK), Batory Foods (US), Graincorp
(Australia), Community Foods (UK), McCormick & Company, Inc. (US), The
Source Bulk Foods (Australia), Essex Food Ingredients (US), and Subnutra
(India). These companies have been focusing on expanding their market presence,
enhancing their solutions, and partnering with many channel partners and
technology companies to cater to consumers across the globe. The deep roots of
these players in the market and their robust offerings are among the major
factors that have helped them achieve major sales and revenues in the global
bulk food ingredients market.
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