Global Bulk Food Ingredients Market - Growth, Trends and Forecasts (2018 - 2023)
“Convenience retailing is the future of FMCG industry and the rapid expansion of variety of food and drink retail channels have given a significant boost to bulk food ingredients market. The thumb rule is when you buy big - you save bigger.”
The bulk/whole ingredients are usually purchased in huge quantities from the wholesale supplier and brought in to the retail stores. They can be in both processed and non-processed forms. The bulk food ingredients market is expected to attain a CAGR of 4.6% during the forecast period (2018–2023) majorly driven by evolving lifestyle factors such as demand for packaged convenience food & beverage products.
The market is driven by increasing utilization of bulk food ingredients in packaged, processed foods and ready to eat foods like confectionery items, biscuits, beverages, chocolates, etc.
The robust growth in food service retail chains with the increase in number of eateries and cafes worldwide have provided new opportunities for growth to bulk food ingredients market. The popularity of ready-to-eat meals in the context of growing demand for convenience and healthy processed food products is expected to drive the market in the years to come.
However, the infrastructural inefficiencies in the form of lack of adequate storages act as a major impediment to the growth of bulk food ingredients market.
The paradigm shift in the consumer dietary patterns have made organic, minimally processed food products a major buying preference for most of the consumers and this trend is bound to unveil many opportunities for stakeholders operating in bulk food ingredients market.
The bulk food ingredients market is segmented based on the type, application and geography. On the basis of type of bulk ingredients, the market is further segmented into primary processed and secondary processed bulk food ingredients. The former includes grains & seeds, herbs & spices, and staple commodities and others while the latter comprises of Dry fruits & nuts, vegetable oils, processed herbs & spices, processed grains & seeds, flour and others.
Herbs and spice sub-segment of the primary processed segment is expected to attain highest growth rate owing to the growing consumer realization of the health benefits of these ingredients on moderate consumption.
The application segments of bulk food ingredients are bakery, confectionery, snacks & spreads, ready meals. The ready meals segment is expected to grow faster due to rising disposable incomes and growing number of women joining workforce. This necessitates the convenience and on-the-go foods to cope up with hectic lifestyles.
Growing urbanization coupled with increased spending on convenient and ready-to-eat processed foods and improved standard of living in countries like China, India, Malaysia, Australia and New-Zealand have made Asia-Pacific – a fastest growing region in bulk food ingredients market. The increase in global exposure and western lifestyle influence have led to the growing popularity of packaged, processed and ready to eat foods in this region.
Countries like India have recently witnessed surge in Foreign Direct Investments (FDI) from key players operating in bulk food ingredients market. Moreover such countries in Asia-Pacific region also exhibits low-cost labor and lower ingredient prices thereby providing further fillip to the market. Major PLAYRRS: TATE & LYLE PLC, CARGILL INCORPORATED, OLAM INTERNATIONAL, DUPONT , ARCHER DANIELS MIDLAND COMPANY, DMH INGREDIENTS, COMMUNITY FOODS LIMITED, ASSOCIATED BRITISH FOODS PLC, ONSET WORLDWIDE, EHL INGREDIENTS and PLUM GROUP FOODS, amongst others.
Reasons to Purchase this Report