Bulk Food Ingredients Market Is Expected To Reach $ 409.56 Billion By 2028


 San Francisco, 31 Aug 2023: The Report Bulk Food Ingredients Market Size, Share & Trend Analysis Report By Category (Primary Processed, Secondary Processed), By Application (Bakery & Confectionery, Snacks & Spreads) By Region, And Segment Forecasts, 2022 - 2028

The global bulk food ingredients market size 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 are commodities used in processed foods, packaged, and ready-to-eat foods like confectionery items, chocolates, biscuits, beverages, etc. The shift in consumer lifestyles toward western cultures has led to increased demand for processed and ready-to-eat food and drinks.

Increasing benefits of packaged and convenience food, which require less preparation time and easy handling, are the prominent factors that offer an advantage to the consumers in their busy life cycle. These factors drive the consumption of bulk food ingredients in emerging economies such as India, Brazil, Mexico, Thailand, the Philippines, and Indonesia.

Increasing consumer awareness of eating healthy food and rising preference for natural and organic ingredients among consumers are anticipated to boost the market demand.

In 2020, according to International Coffee Organization, the global coffee production reached 169.63 million 60-kilogram bags. In 2018, global tea production amounted to over 5.8 million metric tons of tea. These factors boost the consumption of bulk food ingredients in the tea, coffee, and cocoa segment.

The shift from commodity/bulk ingredients to value-added ingredients and the lack of adequate infrastructure for the storage of bulk commodities are the major factors hampering market growth.

Access Research Report of Bulk Food Ingredients Market @ https://www.grandviewresearch.com/industry-analysis/bulk-food-ingredients-market-report

Bulk Food Ingredients Market Report Highlights

  • Europe is another major contributor to the market, with USD 73.8 billion in 2021. Changing consumer behavior and the increased adoption rate of high premium liquors made from wheat, fruits, and grains is witnessing exponential market growth
  • The beverage segment held the second-largest market share in 2021, contributing more than 25% of the total revenue. The rising consumption of alcoholic beverages and soft drinks manufactured from natural ingredients is one of the prominent factors for market growth
  • The grain, pulses, and cereals primary processed ingredient segment held the largest market share in 2021, contributing more than 30% of the total revenue. In 2020, according to Food & Agriculture Organization, total wheat production was 774.8 million tons, and cereal production is 2,768.6 million tons

Bulk Food Ingredients Market Report Scope

Report Attribute

Details

Market size value in 2022

USD 313.85 billion

Revenue forecast in 2028

USD 409.56 billion

Growth rate

CAGR of 4.4% from 2022 to 2028

Base year for estimation

2021

Historical data

2017 - 2020

Forecast period

2022 - 2028

List of Key Players of Bulk Food Ingredients Market

  • 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.

Access Press Release of Bulk Food Ingredients Market @ https://www.grandviewresearch.com/press-release/global-bulk-food-ingredients-market

 

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