Overview and Scope
The bulk food ingredients are the food components used as raw materials in processed foods, ready-to-eat foods, packaged drinks and foods, and others. Bulk food ingredients refer to raw materials that are used at the front end of the food processing industry. These include all kinds of grains, flour, starches, spices, sugar, cocoa, dry beans and legumes, nuts, and other ingredients used in the production of food and beverage items.
Sizing and Forecast
The bulk food ingredients market size has grown strongly in recent years. It will grow from $748.48 billion in 2023 to $794.87 billion in 2024 at a compound annual growth rate (CAGR) of 6.2%. The growth in the historic period can be attributed to population growth, urbanization, food industry expansion, advancements in food processing, global trade, supply chain efficiencies.
The bulk food ingredients market size is expected to see strong growth in the next few years. It will grow to $1020.24 billion in 2028 at a compound annual growth rate (CAGR) of 6.4%. The growth in the forecast period can be attributed to plant-based eating, sustainable sourcing, e-commerce growth, food industry innovation, consumer convenience, functional foods demand. Major trends in the forecast period include customization and specialty ingredients, clean and green processing technologies, blockchain for supply chain transparency, flavor innovation and exotic ingredients, non-GMO and organic ingredients.
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Segmentation & Regional Insights
The bulk food ingredients market covered in this report is segmented –
1) By Type: Primary Processed Bulk Food Ingredients, Secondary Processed Bulk Food Ingredients
2) By Application: Ready Meals, Bakery Products, Confectionery Products, Snacks and Spreads, Other Applications
3) By Distribution Channel: Supermarkets and Hypermarkets, Convenience Stores, Specialty Stores, E-Commerce, Others Distribution Channels
North America was the largest region in the bulk food ingredients market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the bulk food ingredients market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The growing demand for convenience food products is expected to propel the growth of the bulk food ingredients market going forward. Convenience foods are processed foods that are ready-to-eat, commonly served in restaurants or sold at grocery stores, and include snacks and frozen foods. They can be cooked with a minimum or no effort in preparation. Convenience foods are commercially prepared and use bulk food ingredients as raw materials. These are more suitable for travelers and people who are unacquainted with cooking. For instance, according to the Institute of Food Technologists, a US-based scientific society of professionals engaged in food science and food technology, U.S. snack sales were up 5% in the first half of 2021 when compared with 2020. Also, in 2021, the sales of frozen novelties were up 26% and refrigerated lunch product sales grew by 36.4%. Therefore, growing demand for convenience food products is driving the growth of the bulk food ingredients market.
Key Industry Players
Major companies operating in the bulk food ingredients market report are Cargill Incorporated, Archer Daniels Midland Company, Bunge Limited, Olam International Limited, Lactalis Group, Associated British Foods plc, Royal FrieslandCampina N.V., Arla Foods amba, DuPont de Nemours Inc., International Flavours & Fragrances Inc., IFF Inc., Koninklijke DSM N.V., Kerry Group plc, Fonterra Co-operative Group Limited, Ingredion Incorporated, McCormick & Company Incorporated, Firmenich International SA, Symrise AG, Tate & Lyle PLC, Corbion N.V., The Source Bulk Foods, Community Foods Limited, Bedoukian Research Inc., GCL Food Ingredients Holdings Limited, EHL Ingredients Limited, DMH Ingredients Inc., Essex Food Ingredients, Ingredients Inc., Glanbia plc, Organic Partners International LLC, Tereos S.A., Ajinomoto Co. Inc.
The bulk food ingredients market report table of contents includes:
- Executive Summary
- Bulk Food Ingredients Market Characteristics
- Bulk Food Ingredients Market Trends And Strategies
- Bulk Food Ingredients Market – Macro Economic Scenario
- Global Bulk Food Ingredients Market Size and Growth
- Bulk Food Ingredients Market Segmentation
- Bulk Food Ingredients Market Regional And Country Analysis
………..
- Key Mergers And Acquisitions In The Bulk Food Ingredients Market
- Bulk Food Ingredients Market Future Outlook and Potential Analysis
- Appendix
List Of Tables:
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Bulk Food Ingredients Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Bulk Food Ingredients Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Bulk Food Ingredients Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
…………….
Table 74: Cargill Incorporated Financial Performance
Table 75: Archer Daniels Midland Company Financial Performance
Table 76: Bunge Limited Financial Performance
Table 77: Olam International Limited Financial Performance
Table 78: Lactalis Group Financial Performance
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