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Bulk Food Ingredients Market: By Category (Primary Processed, Secondary Processed), By Type (Grains, Pulses, and Cereals, Tea, Coffee, and Cocoa, Herbs and Spices, Oilseeds, Sugar and Sweeteners, Edible Oil), By Application (Bakery and Confectionery, Snacks and Spreads, Ready Meals), And Region - Global Analysis of Market Size, Share & Trends For 2019-2021 And Forecasts To 2031
Food components used in packaged foods, processed foods, and ready-to-eat foods are known as bulk food ingredients. Foods including cookies, chocolates, beverages, and confectionary items used bulk food ingredients as basic material. Bulk food ingredients include things like nuts, spices, grocery goods, chocolates, and beverages. Both processed and unprocessed bulk food ingredients are available.
Global Bulk Food Ingredients Market to surpass USD 1,019.3 billion by 2031 from USD 690.1 billion in 2021 at a CAGR of 4% in the coming years, i.e., 2021-2031. The market is being driven by the growth of the packaged food and beverage sector, an increase in end-use applications, and economic and environmental benefits such as cheap packaging costs. These concerns have resulted in a rise in demand for processed goods and, as a result, market expansion.
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On the basis of Type, the Bulk Food Ingredients Market is divided into Grains, Pulses, and Cereals, Tea, Coffee, and Cocoa, Herbs and Spices, Oilseeds, Sugar and Sweeteners, Edible Oil, and Others. This sector includes herbs and spices such as capsicum, pepper, cardamom, cloves, cinnamon, nutmeg & mace, ginger, coriander, bay leaves, basil, and oregano. These can be found in a variety of items, including beverages, frozen meals, and meat products. The demand for herbs and spices has increased as the use of processed foods such as sauces, soups, dressings, and condiments have expanded.
On the basis of Application, the Bulk Food Ingredients Market is divided into Bakery and Confectionery, Snacks and Spreads, Ready Meals, and Others. Prepared food products designed for ease of consumption are referred to as ready meals or convenience food products. With the expansion in population and disposable incomes, especially in growing nations like India, China, and Brazil, the consumption of ready meals is on the rise, along with the ever-changing lifestyle patterns. A wide range of bulk food items is used in ready meals.
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Consumers' changing lifestyles and interests drive the convenience food industry. The expansion of the packaged food sector was aided by increased urbanization, disposable income, and improved lifestyles around the world. In developed countries, packaged foods are no longer maintained. Consumers' increasingly hectic lifestyles result in less time spent cooking from scratch. Companies are profiting from a big trend in packaged food products that can be enjoyed on the move by analyzing the demands and tastes of consumers in various locations.
Consumers have become more health-conscious, demanding low-fat, low-cholesterol, and low-sugar foods. Fiber and protein-rich foods are in high demand among consumers. These factors have an impact on the bulk food ingredient market. As a result, as consumer knowledge of health issues grows, so does the demand for bulk food ingredients.
Bulk food ingredients processors/wholesalers confront a variety of issues, including maximizing available space, managing various storage temperatures, and responding to fast stock turnover while preserving hygiene and product traceability.
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Global Bulk Food Ingredients Market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. In Asia Pacific, busy lifestyles encourage the consumption of convenience foods. Furthermore, growth in disposable income is another market driver. As a result, demand for high-priced fortified nutritional food and beverage items has increased across Asia Pacific. The use of food components is expected to expand at a quicker rate in the region as a result of consumer demand. China, India, Japan, and Australia are all important markets in the Asia Pacific area. Because of changing client lives, the processed food sector in the Asia Pacific area is booming.
Due to COVID-19, raw material prices are expected to rise due to trade obstacles, disruptions in raw material supply, and inefficient distribution systems. The worldwide bulk ingredients market is expected to face challenges due to the scarcity and high cost of raw materials, as well as high production costs.
REPORT ATTRIBUTE |
DETAILS |
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Market size value in 2021 |
USD 690.1 billion |
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Revenue forecast in 2031 |
USD 1,019.3 billion |
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Growth Rate |
CAGR of 4% from 2021 to 2031 |
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Base year for estimation |
2020 |
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Quantitative units |
Revenue in USD million and CAGR from 2021 to 2031 |
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Report coverage |
Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
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Segments covered |
Category, Type, Application, and Region |
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Regional scope |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA) |
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Key companies profiled |
E.I. du Pont de Nemours and Company, Ingredion Incorporated, Archer Daniels Midland Company, EHL Ingredients, DMH Ingredients, Community Foods Limited, Tate & Lyle PLC, Olam International, and Cargill Incorporated. |
The Bulk Food Ingredients Market size was estimated at USD 690.1 billion in 2021 and is expected to reach USD 1,019.3 billion in 2031.
Food ingredients used in processed foods and packaged foods and ready-to-eat foods like confectionery, cookies, chocolates, and beverages are known as bulk food ingredients. They are food products that are offered in large quantities or bulk and can be purchased and transported from bulk containers to comparatively small containers.
The herbs and Spices segment accounted for the largest Bulk Food Ingredients Market share.
Key players in the Bulk Food Ingredients Market are E.I. du Pont de Nemours and Company, Ingredion Incorporated, Archer Daniels Midland Company, EHL Ingredients, DMH Ingredients, Community Foods Limited, Tate & Lyle PLC, Olam International, and Cargill Incorporated.
The global bulk food ingredients market is growing due to factors such as changes in consumer lifestyles, increased demand for prepared and processed foods and beverages, increased consumer health awareness, a growing population of female workers, and increased income and skills available.
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