Market Research Report
Bulk Food Ingredients - Global Market Outlook (2020-2028)
|Bulk Food Ingredients - Global Market Outlook (2020-2028)|
Published: May 5, 2021
Stratistics Market Research Consulting
Content info: 150+ Pages
Delivery time: 2-3 business days
According to Stratistics MRC, the Global Bulk Food Ingredients Market is accounted for $453.07 billion in 2020 and is expected to reach $733.09 billion by 2028 growing at a CAGR of 6.2% during the forecast period. Rapid growth in the packaged food & beverage industry, environmental and economic benefits, robust industrialization, growing number of fast food restaurants and in-store bakeries, booming population figures, rapid urbanization, and growing end-use applications are driving the market growth. However, storage management and infrastructure may hamper the market growth.
Bulk food ingredients are food components which are used in packaged, processed foods and ready to eat foods like confectionery items, biscuits, beverages, chocolates, etc. The bulk food ingredients include grocery items like, artificial sweeteners, sugars, coffee and tea extracts, nuts and seeds, spices and herbs, dry fruits, dehydrated vegetables, wheat and rice among others. These food ingredients are purchased in bulk or huge quantities from the wholesale supplier and brought in to the retail stores. The bulk food ingredients are also known as whole food ingredients and are often found in organic form. Due to their organic properties the bulk food ingredients are regarded for being health foods. These products can both be processed and non-processed.
Based on the application, the ready-to-eat-meals segment is going to have lucrative growth during the forecast period, due to increasing consumer inclination towards them, attributed to ease and convenience offered by the product and changing dietary patterns of consumers due to changing consumer lifestyles. The rising disposable income of people, prevalence of hectic work schedules has compelled consumers to dedicate more time towards their professions, leading to high RTE food consumption. Furthermore, the growing demand for pre-packed ready-to-eat food among the working populations projected market growth.
By geography, Asia Pacific is expected to have considerable market growth during the forecast period, owing to rising disposable incomes, 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. Furthermore, the rising consumer awareness about the benefits of clean/natural label products in Asian countries is expected to offer growth opportunities to food & beverage manufacturers. India & China are likely to be the frontrunners of the Asian market, attributed to the concentration of the world's largest population and the huge production of grain and seeds.
Some of the key players profiled in the Bulk Food Ingredients Market include Ajinomoto, Archer Daniels Midland Company, Associated British Foods PLC, Bunge Limited, Cargill Incorporated, Community Foods Limited, DMH Ingredients, Inc., EHL Ingredients, I. Du Pont De Nemours and Company, Ingredion Incorporated, Kirin Holdings, Koninklijke DSM N.V., Olam International, Sysco Corporation, and Tate & Lyle PLC.
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Table17 Global Bulk Food Ingredients Market Outlook, By Sea Salt (2019-2028) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.