Market Research Report
Bulk Food Ingredients Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)
|Bulk Food Ingredients Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)|
Published: January 17, 2022
Mordor Intelligence Pvt Ltd
Content info: 119 Pages
Delivery time: 2-3 business days
The bulk food ingredients market is recording a CAGR of 4.9% during the forecast period (2020 - 2025).
Rising demand for prepared and convenience food products, such as baked goods, snacks, yogurt, ice-cream, beverages, and other ready meals among the consumers have been witnessed with an increasing trend. This is due to the benefits of convenience food, such as lesser preparation time and easy handling that offers an advantage to the consumers in their busy life schedule. Food ingredients purchased in bulk by the primary manufacturing companies make up a very large part of the final product and have a significant impact on the final packaged product. For instance, products, ranging from fat-free dressing, low-fat mayonnaise, sauces, processed meat products, etc., require a broad variety of functional ingredients to provide optimization in terms of stability, creaminess, shelf-life, viscosity, and water absorption, among others.
The Asia-Pacific region is witnessed to show the fastest-growing region in the global market, owing to the growing urbanization coupled with increased spending on convenient and ready-to-eat processed foods and improved standard of living in countries like China, India, Malaysia, Australia, and New-Zealand. The increase in global exposure and western lifestyle influence have led to the growing popularity of packaged, processed and ready-to-eat foods in this region. Countries like India have recently witnessed a surge in Foreign Direct Investments (FDI) from key players operating in the bulk food ingredients market. Moreover, such countries in the Asia-Pacific region also exhibits low-cost labor and lower ingredient prices, thereby providing a further fillip to the market.
The bulk food ingredients market is highly competitive and fragmented in nature, owing to the presence of many regional and domestic players. Emphasis is given on the merger, expansion, acquisition, and partnership of the companies along with new product development as strategic approaches adopted by the leading companies to boost their brand presence among consumers.