Food ingredients used in processed and packaged foods and ready-to-eat foods like biscuits, confectionery items, beverages, and chocolates are known as bulk food ingredients. They are also known as whole food ingredients. These food ingredients also include grocery items like sugars, artificial sweeteners, coffee and tea extracts, spices and herbs, nuts and seeds, dehydrated vegetables, dry fruits and wheat and rice. The food ingredients may be processed or unprocessed. They are bought in bulk and sold in retail stores. The North America bulk food ingredients market was valued USD 106.29 billion in 2018 and expected to be growing at a CAGR of 3.51%, to reach USD 126.3 billion by 2023.
Market drivers and restraints:
The bulk food ingredients market is a developing market due to factors such as changing customer lifestyles, a rise in the demand for processed and ready to eat beverages and food, an increase in health awareness among customers, rising population of working women, rising disposable income and technological advancements. Although there is a great Western market influence, there is still some persistent skepticism about the consumption of ready-made food, which may hinder the market growth of bulk food ingredients. Other factors that may pose as an issue in the market growth include concerns regarding the freshness and safety of the processed food products, high costs of the ready-to-eat food and unstable agricultural supply.
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Report segmented as:
- bakery products
- snacks and spreads
- confectionery products
- infant formulas and dairy products
- ready meals
The biggest share in the bulk food ingredients market is held by Asia Pacific. This can be attributed to reasons such as a rise in global exposure, rising working population and western lifestyle influence owing to globalization. Growth in the disposable income and better standards of living are also fueling the market growth in this region. Major growth can be seen in countries such as India, China, Australia, Japan and New Zealand in Asia Pacific.
Important market players:
Some of the key companies in the bulk food ingredients market are EHL Ingredients, Archer Daniels Midland Company, DHM Ingredients, E.I. du Pont de Nemours and Company, Community Foods Limited, Ingredion Incorporated, Cargill Incorporated, Olam International and Tate & Lyle PLC among others.
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The Scope of the report:
This report offers the current product and services market evaluation and the future estimation of the market. It helps us understand the market better through size anticipation and CAGR calculation to estimate the next market. It has a broader segmentation for a better understanding of the enterprising of the market at a low level by segregating the market into smaller sectors.
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