Bulk Food Ingredients Market Growth & Trends
The globalbulk food ingredients marketsize is expected to reach USD 409.56 billion by 2028, registering a CAGR of 4.4% during the forecast period, according to a new report by Grand View Research, Inc. Surging demand for convenience foods and technological advancement in the food & beverage industry propels the market growth.
Bulk Food Ingredients Market Segmentation
Grand View Research has segmented the global bulk food ingredients market based on category, application, and region:
Based on the Category Insights, the market is segmented into Primary Processed and Secondary Processed.
- Secondary processed food ingredients contributed the highest share of more than 60% of the global market revenue in 2021. Secondary processing is the conversion of bulk commodities into edible products. This process involves combining foods in a particular way to change their properties. Secondary processed ingredients are used in processed and packed food such as confectionery items, chocolate, beverages, biscuits, artificial sweeteners, flavors, and extracts.
- The primary processed ingredient is projected to register a CAGR of 4.0% from 2022 to 2028. Primary processing is the conversion of raw materials to bulk food ingredients. Milling is the key example for primary processing. Products such as grains, pulses, cereals, tea, coffee, cocoa, herbs, and spices are the majorly primary processed products.
Based on the Application Insights, the market is segmented into Bakery & Confectionery, Snacks & Spreads, Ready Meals, Beverages, Others.
- Bakery & confectionary applications contributed to the highest share of more than 30% of the global market revenue in 2021. Rising consumer awareness about health and nutrition-related product has motivated the bakery and confectionery producers to include functional ingredients, such as probiotics, legumes, oats, fortified margarine, and cereals, in their products. Asia Pacific bakery & confectionary market is majorly driven by the increasing demand for processed bakery products, along with growing awareness among consumers for clean label and healthy products.
- The beverage is the fastest-growing application and is expected to witness a CAGR of over 5% from 2022 to 2028. In 2018, soft drinks per capita consumption in the U.S. in 38.87 gallons per person. This is the primary factor driving the bulk food ingredients consumption in beverage applications in the North American region.
Bulk Food Ingredients Regional Outlook
- North America
- Europe
- Asia Pacific
- Central & South America
- Middle East and Africa (MEA)
Market Share Insights
- April 2021: Olam Food Ingredients announced acquiring Olde Thompson for over USD 950 million. The company is engaged in producing sustainable, natural, and value-added food & beverage ingredients.
- January 2020: Archer-Daniels-Midland Company announced to expand its product offering of plant-based ingredients and extract by acquiring Brazil-based Company Yerbalatina Phytoactives. Yerbalatina produces organic food colors, organic powdered fruits, and functional health and nutrition ingredients.
Key Companies Profile & Market Share Insights
The market is characterized by the presence of various well-established players and several small & medium scale players.
Some of the prominent players operating in the global bulk food ingredients market include,
- 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.
Order a free sample PDF of the Bulk Food Ingredients Market Intelligence Study, published by Grand View Research.
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