Bulk Food Ingredients Market Size, Share And Global Trend By Type(Primary Processed, Secondary Processed), By Application(Bakery,Snacks & Spreads, Confectionery, Ready Meals), and Regional Forecast, 2024-2032

The global bulk food ingredients market size is projected to witness rapid growth during the forecast period, due to rapid change in the lifestyle of the global population and increased demand for convenience and processed food due to hectic daily schedules. Increased consumer awareness towards the health benefits of consuming healthy food & beverage products made up of organic or clean-label ingredients is expected to aid the organic bulk food ingredients market growth in the forthcoming years.

Key companies operating in the global bulk food ingredient market are focusing on the launch of new products and merger and acquisition activities to maintain their prominence in the global market. Tata & Lyle Plc., Archer-Daniels-Midland Company, and Cargill Incorporated are some of the key companies performing in the global market.

Bulk food ingredients are those food components that are used in the production of ready-to-eat, packaged, and processed foods. Bulk food ingredients are majorly used as raw materials in the production of confectionery products, bread & biscuits, beverages, and others. Bulk food ingredients are majorly available in processed-form and non-processed forms for different applications.

Rapidly changing consumer preferences and eating habits, along with the adoption of western eating habits across developing economies of Asia Pacific is projected to boost the growth of the market during the forecast years. Fostering demand for snacks and confectionery products is expected to influence the bulk food ingredients market positively during the forecast period. Furthermore, increasing health consciousness among consumers is projected to fuel the demand for organic bulk food ingredients market in the upcoming years.

High cost associated with processed and ready meals is expected to restrain the market growth during the forecast years. The perishable nature of some processed food is projected to further hinder the growth of the global market in the upcoming years.

Key Players Covered

Some of the major companies that are present in the global bulk food ingredients market are;

• Cargill Incorporated


• Olam International Limited


• DowDuPont Inc.


• Ingredion Incorporated


• Archer-Daniels-Midland Company


• Tate & Lyle Plc.


• DMH Ingredients


• Community Foods Limited


• EHL Ingredients


• Associated British Foods Plc.


• Other Prominent Players

SEGMENTATION

On the basis of type, the global bulk food ingredients market has been segmented into primary processed and secondary processed bulk food ingredients. The aforementioned segments are further sub-segmented into herbs & spices, grains & seeds, vegetable oils, dry fruits & nuts, and others. Herbs & spices segment is projected to grow at a faster pace during the forecast years, owing to increased consumer demand of the ingredients attributed to the health benefits associated with them.

On the basis of application, the global bulk food ingredients market has been segmented into bakery, snacks & spreads, confectionery, and ready meals. Ready meals segment is anticipated to hold the major revenue share due to increasing consumer inclination towards them, attributed to ease and convenience offered by the product. The rising disposable income of people, coupled with the hectic & busy lifestyle of consumers is expected to contribute to the segment’s growth.

Regional Analysis

The Asia Pacific is anticipated to grow at a significant pace during the forecast years, owing to the rising number of the working population of the region. The rapid increase in the population of prominent economies, such as China and India, coupled with rising disposable income of Asian consumers is expected to contribute to the bulk food ingredients market of the Asia Pacific. The anticipated rise in demand for processed and packaged food due to increasing urbanization and adoption of western food habits is further projected to boost the market growth positively during the forecast years.

Key Industry Developments

• In August 2017, Tate & Lyle Plc announced the expansion of its CLARIA Functional Clean-Label starch line, by adding two new instant starch products, CLARIA Instant 360 and 340.


• In 2017, American giant McCormick and Co. Inc. announced their plan to launch McCormick branded spices, seasonings, and herbs in the Indian market.