The report "Bulk Food Ingredients Market by Primary Processed Type, Secondary Processed Type, Application (Food, Beverages), Distribution Channel (Direct From Manufacturers, Distributors), and Region - Global Forecast to 2026" The market for bulk food ingredients is estimated at USD 808.9 Billion in 2021; it is projected to grow at a CAGR of 4.5% to reach USD 1,008.1 Billion by 2026. Asia Pacific accounted for the largest share; during the forecast period, in terms of value. Key factors such as a large population, the growing demand for authentic flavors, and an increase in popularity of convenience foods are the key factors that are projected to drive the growth of the Asia Pacific bulk food ingredients market.
Browse 420 market data Tables and 68 Figures spread through 384 Pages and in-depth TOC on "Bulk Food Ingredients Market by Primary Processed Type, Secondary Processed Type, Application (Food, Beverages), Distribution Channel (Direct From Manufacturers, Distributors), and Region - Global Forecast to 2026"
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The herbs & spices segment by product type is projected to achieve the fastest growth in the bulk food ingredients market.
The herbs & spices is the fastest-growing segment product type during the forecast period. Key factors such as the increase in consumer preference for healthy food products, production of bulk food ingredients, import of bulk food ingredients and ease of availability, demand for natural/clean label products, and preference for convenience food products due to busy lifestyles is projected to drive the demand for bulk food ingredients.
By distribution channel, the direct distribution from manufacturers segment is projected to account for the largest market share in the bulk food ingredients market.
The bulk food ingredients market, in terms of distribution channel method, was dominated by direct manufactuerers. Investments in R&D activities for the development of new products and solutions in the bulk food ingredients market are projected to drive the market growth. The number of research projects on processed & convenience foods is increasing globally. The production of bulk food ingredients is projected to be influenced by the increase in R&D activities for processed & convenience foods.
The food segment by application is projected to account for the largest market share of the bulk food ingredients market over the forecast period.
The food segment is projected to account for the largest share owing to to the growing middle-class population and urbanization, which has led to an increase in the disposable income of people. The increase in demand for snacks & convenience food products in the Asia Pacific region has witnessed a rise in demand for various bulk food ingredients that have led consumers to adopt healthier lifestyles.
Asia Pacific is projected to be the fastest growing market.
The demand for bulk food ingredients is projected to increase in the Asia Pacific region due to key factors, such as the rise in disposable income and urbanization in countries such as China, India, and Japan. Furthermore, the rise in consumer awareness about the benefits of clean/natural label products in Asian countries is projected to offer growth opportunities to food & beverage manufacturers. However, high price volatility and unstable agricultural supply are the key factors that are projected to inhibit the market growth. In addition, improper infrastructural facilities, such as warehousing, act as a challenge for market players.
Key Market Players
The key players in this market include Tate & Lyle PLC (UK), Cargill, Incorporated (US), Archer Daniels Midland Company (US), Olam International (Singapore), DuPont (US), Ingredion Incorporated (US), Associated British Foods plc (UK), EHL Ingredients (UK), DMH Ingredients, Inc. (US), and Community Foods Limited (UK). Some other players include McCormick & Company, Inc. (US), The Source Bulk Foods (Australia), Essex Food Ingredients (US), The Green Labs LLC (US), Ingredients Inc. (US), GCL Food Ingredients (UK), Pure Ingredients (Dublin), and Organic Partners International, LLC (US). These players in this market are focusing on increasing their presence through new product launches and expansions. These companies have a strong presence in North America, Asia Pacific and Europe. They also have manufacturing facilities along with strong distribution networks across these regions.
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