Bulk Food Ingredients Market Size, Share, Growth & Industry Trends | Forecast – 2028

Chicago, Dec. 01, 2023 (GLOBE NEWSWIRE) — The bulk food ingredients market refers to the industry that involves the production, distribution, and sale of food ingredients in large quantities. These ingredients are typically purchased in bulk by food manufacturers, processors, and other businesses in the food industry to be used as raw materials in the production of various food products. Bulk food ingredients can include a wide range of items such as grains, spices, nuts, seeds, dried fruits, sweeteners, flours, oils, and more. These ingredients are often sourced from suppliers and distributors who specialize in providing large quantities of these items to meet the demands of food production on a commercial scale.

Bulk food ingredients market in terms of revenue is poised to reach $454.6 billion by 2028, growing at a CAGR of 4.4% from 2023-2028 according to a latest report published by MarketsandMarkets™. Due to rising spending on packaged and processed goods, the market for bulk ingredients is booming. A significant shift in lifestyle in developing economies has also increased demand for prepared and processed foods.

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Bulk Food Ingredients Market Scope:

Bulk Food Ingredients Market major players covered in the report, such as:

• Archer Daniels Midland Company (US)
• International Flavors & Fragrances Inc. (US)
• Olam Group (Singapore)
• Cargill, Incorporated (US)
• Ingredion (US)
• Associated British Foods plc (UK)
• Tate & Lyle PLC (UK)
• EHL Ingredients (UK)
• Batory Foods (US)
• Graincorp (Australia)
• Community Foods (UK)
• McCormick & Company, Inc. (US)

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Market DRIVER : Rise in end-use applications

The demand for products that are rich in nutrients is significantly high in Europe and North America due to the increase in consumer awareness. The consumption of products with an extensive nutritional profile would continue to increase as parents prefer opting for food products, such as grains, oilseeds, and nuts, that are estimated to account for a key share in the bulk ingredients market. These products offer nutrition for healthy child development. End-use applications such as bakery & confectionery, snacks & spreads, ready meals, infant formulas, and dairy products are projected to witness significant growth in the next five years, resulting in increased demand for bulk food ingredients.

Potential Opportunities: Rise in demand for natural or clean label products

According to the survey conducted by Consumer Reports National Research Center in 2013, two-thirds of the US consumers prefer locally grown products, whereas more than 60% of the population opt for ‘clean’ or ‘natural’ labeled products. As a result of the increase in demand for organic products in the North American and European region, as well as the other parts of the world, there is a significant growth in demand for bulk food ingredients products.

Clean-label products are organic, natural, non-GMO, and minimally processed consumer-friendly products. According to the Clean Label Alliance, it is witnessed that nearly 75% of consumers are willing to pay high prices for clean-label products. The increase in health awareness among consumers is projected to drive the demand for natural and clean-label products, which, in turn, would drive the demand for bulk food ingredients. Consumers are becoming inclined toward clean-label products, as they are becoming more aware of the non-synthetic ingredients and their negative effects. This is projected to encourage the adoption of products and diets with clean-label ingredients.

The research report categorizes the market into the following segments:

Bulk Food Ingredients Market by Primary Processed Type

• Nuts
• Oilseeds
• Grains, pulses, and cereals
• Herbs & spices
• Sugar
• Tea, coffee, and cocoa
• Salt
• Other types (dried vegetables and citric acid)

Bulk Food Ingredients Market by Secondary Processed Type

• Dry fruits & processed nuts
• Vegetable oil
• Processed herbs & spices
• Processed grains, pulses, and cereals
• Sugar & sweeteners
• Tea, coffee, and cocoa
• Flours
• Sea salt
• Other types (dried vegetables and citric acid)

Bulk Food Ingredients Market by Distribution Channel

• Direct from manufacturers
• Distributors

Bulk Food Ingredients Market by Application

• Food products
• Bakery products
• Confectionery products
• Snacks & spreads
• Ready meals
• Other food applications (infant formula and dairy products)
• Beverages
• Alcoholic beverages
• Non-alcoholic beverages
• Hot beverages
• Cold beverages

Bulk Food Ingredients Market by Region

• North America
• Europe
• Asia Pacific
• South America
• Rest of the World

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This report provides insights on the following pointers:

• Growing Demand for Processed Foods: The increasing demand for processed and convenience foods is a significant driver for the bulk food ingredients market. As consumer lifestyles become busier, there is a rising preference for ready-to-eat and easy-to-prepare food products, boosting the need for bulk ingredients in food manufacturing.
• Globalization of the Food Supply Chain: The globalization of the food supply chain has led to greater diversity in the types of ingredients used in food products. Bulk food ingredients are sourced globally, and this has intensified competition among suppliers and manufacturers to ensure a stable and diverse supply of ingredients.
• Health and Wellness Trends: Consumer awareness of health and wellness has influenced the demand for healthier food options. As a result, there is an increased interest in natural and organic bulk ingredients, such as whole grains, seeds, and plant-based proteins, reflecting a shift toward cleaner labels and nutritional transparency.
• Supply Chain Challenges: The bulk food ingredients market is susceptible to supply chain challenges, including disruptions due to extreme weather events, transportation issues, and global trade uncertainties. Such challenges can impact the availability and pricing of key ingredients.
• Sustainable Sourcing and Traceability: Sustainability and traceability have become crucial factors in the bulk food ingredients market. Consumers and businesses are increasingly seeking ingredients that are sourced responsibly, with a focus on ethical practices, fair trade, and environmental conservation.
• Technological Advancements: Technological advancements in food processing and preservation methods play a role in shaping the bulk food ingredients market. Innovations in ingredient processing and packaging technologies contribute to improved shelf life, quality, and overall efficiency in the supply chain.
• Regulatory Landscape: The regulatory environment, including food safety standards and labeling requirements, has a significant impact on the bulk food ingredients market. Compliance with regulations is essential for maintaining consumer trust and meeting industry standards.

Regional Insights of Bulk Food Ingredients Market

Asia Pacific: A Powerhouse of Growth

The Asia Pacific region stands out as the fastest-growing market, capturing the largest share in terms of value by 2028. The rise in incomes, increased purchasing power, and significant consumer demands for nutritional and healthy products are driving factors. Countries like China, India, Japan, and Australia are pivotal players in this regional growth.

Conclusion

As the global bulk food ingredients market continues its upward trajectory, fueled by evolving consumer preferences, changing lifestyles, and economic dynamics, it presents a landscape of opportunities and challenges for both industry players and consumers. The interplay of factors such as sustainability, innovation, and regional dynamics will undoubtedly shape the future of the bulk food ingredients market, influencing what and how we eat on a global scale.

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