The global bulk food ingredients market size was US$ 320.1 billion in 2021. The global bulk food ingredients market size is forecast to reach US$ 467.7 billion by 2030, growing at a compound annual growth rate (CAGR) of 4.3% during the forecast period from 2022 to 2030.
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Ingredients used in packaged, processed, and ready-to-eat meals like chocolates, drinks, biscuits, and confectionaries are referred to as bulk food ingredients. Wheat, rice, dehydrated vegetables, spices, herbs, artificial sweeteners, dry fruits, nuts, and seeds, as well as sugars, coffee, and tea extracts, are additional grocery goods that fall under this category. Food ingredients, which can be processed or not, are also referred to as entire foods. They have several uses, including foods and beverages, snacks and spreads, prepared meals, confectionery products, and bakery goods.
Factors Influencing Market Growth
The change in consumer choice from artificial and pre-packaged foods to natural, organic, and simple ingredients, mainly in developed countries drives the global market.
The growth in demand for low-carbohydrate and low-fat foods & beverages boosts the global market growth.
The increase in demand for packaged, ready-to-eat meals and instant foods fuel the global market growth.
The growing disposable income and increased urbanization drive the demand for processed foods. Thus, this factor fuels the global market growth.
The scarcity of infrastructure facilities, fear of bacterial contamination of bulk food ingredients, and the fluctuation in cost may slow down the overall market growth.
Impact Analysis of COVID-19
The COVID-19 pandemic had a negative impact on the global market. Due to trade restrictions, poor distribution networks, and disruptions in the raw material supply, these raw materials’ prices significantly increased as a result of the global lockdown. The expansion of the worldwide bulk ingredients industry is being constrained by rising fees, the inaccessibility of bulk ingredients products, and manufacturing expenses. Furthermore, the closure of plants that manufacture primarily vegetable oil has affected the supply chain globally.
Regional Analysis
The Asia Pacific region accounted for a substantial market share in 2021 and is forecast to remain dominant during the forecast period. As a result of the rising demand in the food & beverages industry in countries such as China, Japan, India, and other Asian countries. In addition, increasing disposable income, improving living standards, technical progress, and growing investments in R&D. Additionally, the growth in population and increase in exposure to western lifestyles have boosted the consumption of processed and packaged food. Thus, these factors lead the market growth in the region.
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Leading Competitors
The leading prominent companies profiled in the global bulk food ingredients market are:
Cargill, Incorporated
Archer-Daniels-Midland Company
Bunge Limited
Associated British Foods plc
Olam International
Tate & Lyle
DUPONT DE NEMOURS, INC
Essex Food Ingredients
Ingredients Inc.
Corbion
Koninklijke DSM N.V
EHL Ingredients
McCormick & Company, Inc
GCL Food Ingredients
Dmh Ingredients, Inc.
Other Prominent Players
Scope of the Report
The global bulk food ingredients market segmentation focuses on Category, Type, Application, and Region.
Segmentation based on Category
Primary processed
Secondary Processed
Segmentation based on Type
Grains, Pulses, and Cereals
Tea, Coffee, and Cocoa
Herbs and Spices
Oilseeds
Sugar and Sweeteners
Edible Oil
Other
Segmentation based on Application
Bakery and Confectionery
Snacks and Spreads
Ready Meals
Other
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Segmentation based on Region
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America
Key questions answered in the global market report are:
— How does a global company acquire markets?
— What are its core strategies and policies?
— What factors will influence the market over the forecast period?
— What are the factors driving and restraining the market?
— What are the leading competitors in the global market?
— Which region is growing at a higher pace in the global market?
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