Global Bulk Food Ingredients Market Grows Steadily at a CAGR of 5.23%.

Introduction

The global bulk food ingredients market was valued at USD 300.88 billion in 2021. It is projected to reach USD 476.05 billion by 2030, growing at a CAGR of 5.23% during the forecast period (2022–2030).

Bulk food ingredients are the parts of food that are used to make processed, packaged, and ready-to-eat foods like candies, drinks, chocolates, and other items. The market is expanding tremendously due to the increased consumption of packaged and processed foods. The change in consumer preference towards foods with organic, natural, and simple ingredients is anticipated to influence market demand positively. Most items classified as "commodity" or "bulk" ingredients are finished goods like flours and oils; despite being traded in significant quantities, these ingredients add very little value to the finished good.

Market Dynamics

Growing Demand in the Packaged Food and Beverage Industry and Rising Demand for Gourmet Food Ingredients Drives the Global Market

Consumers' demand for prepared and convenience foods such as baked goods, snacks, yogurt, ice cream, beverages, and other ready meals is increasing. This is because convenience foods have advantages over traditional foods, such as quicker preparation which benefit consumers with hectic schedules. Also, the demand for gourmet food ingredients is driven by the cultural influence and growing interest in culinary arts among homebound individuals. Gourmet cuisine is identified by using high-quality ingredients and the excellent presentation of dishes. These dishes typically contain ingredients that require special care and are challenging to obtain.

Untapped Potential of Emerging Economies Creates Tremendous Opportunities

The growing population and increasing demand for food products are expected to cause the demand in emerging markets of other Asia-Pacific countries. In developed economies such as Europe and North America, the demand for food ingredients is expected to remain high.

Regional Analysis

Asia-Pacific is anticipated to rise with the highest CAGR during the forecast period. In Asia-Pacific, particularly in China, Indonesia, India, Australia, etc., the demand for the food and beverage industry has been rising. Due to its growing population and greater exposure to western lifestyles, this region is the primary market for processed and packaged food consumption.

Key Highlights

• The global bulk food ingredients market was valued at USD 300.88 billion in 2021. It is projected to reach USD 476.05 billion by 2030, growing at a CAGR of 5.23% during the forecast period (2022–2030).
• Based on category, the market is divided into primary and secondary processed. Secondary processed food ingredients dominate the global market in terms of revenue.
• Based on application, the market is categorized into bakery and confectionery, snacks and spreads, ready meals, beverages, and others. The highest global market revenue is generated by bakery and confectionery applications.
• Asia-Pacific is the largest shareholder in the global food bulk ingredients market and is anticipated to grow with the highest CAGR during the forecast period.

Competitive Players

Competitive Analysis

The major players in the global bulk food ingredients market are:

• 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.
• Cargill, Incorporated
• Archer-Daniels-Midland Company
• Bunge Limited
• Associated British Foods plc
• Olam International
• Tate & Lyle

Recent Developments

Market News

• May 2022- Cargill built a new soybean processing facility in Southeast Missouri. Cargill announced plans to construct a new soybean processing facility in Pemiscot County, Missouri, close to Hayti and Caruthersville, to meet rising domestic and international demand for oilseeds driven by the food feed and fuel industries.
• May 2022- ADM Continued Evolution of Carbohydrate Solutions Business with Significant Expansion of Starch Production in Marshall, Minnesota. ADM, the global leader in nutrition and sustainable solutions, has announced an investment to significantly expand starch production at its Marshall, Minnesota, facility to support the continued expansion of the company's BioSolutions platform.
• April 2022- ADM Met Fast-Growing Demand for Alternative Proteins with Significant Capacity Expansion. ADM, the global leader in nutrition, announced that it would invest approximately $300 million to significantly expand its Decatur, Illinois, alternative protein production as the company continues to add capacity to meet strong demand growth. ADM will enhance its alternative protein capabilities by opening a new, state-of-the-art Protein Innovation Center in Decatur.

Segmentation

Global Bulk Food Ingredients Market: Segmentation

By Category

• Primary Processed
  • Grains, Pulses, and Cereals
  • Tea, Coffee, and Cocoa
• Secondary Processed
  • Processed herbs and spices
  • Dry Fruit and nuts

By Application

• Bakery and Confectionery
• Snacks and Spreads
• Ready Meals
• Beverages
• Others

By Regions

• North America
• Europe
• Asia-Pacific
• Central and South America
• The Middle East and Africa