Bulk Food Ingredients Market

Market Leaders: Major Players are Focusing on Product Launches, Expansions, and Joint Ventures to Strengthen their Market Position in Bulk Food Ingredients Market

According to MarketsandMarkets, the bulk food ingredients market is projected to reach USD 454.6 billion by 2028 from USD 366.7 billion by 2023, at a CAGR of 4.4% during the forecast period in terms of value. The demand for bulk food ingredients is growing due to several factors. Firstly, the global population is increasing, leading to a higher demand for food products. Additionally, changing dietary patterns, including a shift towards convenience foods and increased consumption of processed and packaged foods, contribute to the demand for bulk ingredients. The food processing industry is expanding, requiring a reliable and cost-effective supply of ingredients in large quantities. Bulk purchasing offers economies of scale, reducing costs for manufacturers. Moreover, bulk ingredients provide flexibility for customization and formulation. These factors, coupled with the need for efficient sourcing and production, drive the growth of the bulk food ingredients market.

The key players in this market include ADM (US), International Flavours & 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), The Source Bulk Foods (Australia), Essex Food Ingredients (US), and Subnutra (India). These players have adopted various growth strategies such as collaborations and acquisitions to increase their global market presence.

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ADM (US), Archer Daniels Midland Company, also known as ADM, is engaged in the production and distribution of food ingredients, animal feed & feed ingredients, biofuels, and naturally derived alternatives to industrial chemicals. ADM is one of the key players in the trading of commodities and the processing of agricultural products. With more than a century of experience, ADM maintains a diverse portfolio of businesses that cover the entire value chain of agriculture. The ability of ADM to source, process, and distribute agricultural commodities including grains, oilseeds, and other raw materials is one of its key competitive advantages. Through its extensive network of origination facilities, processing plants, and logistics capabilities, ADM efficiently connects farmers and producers with customers worldwide. In June 2022, ADM (US) partnered with Bayer AG (Germany) to build and implement a sustainable crop protection model for soybean farmers in Maharashtra, India. During this partnership, Bayer will provide regular training to ADM cluster agronomist team in Soybean markets and Bayer will also develop a crop protection package for all crops of soybean and pulses.  This partnership will enhance the sustainable value offerings to soybean farmers and help the company achieve the company’s sustainable goals. In October 2022, Marfrig and ADM launched PlantPlus foods that offers a wide range of finished plant-based food products across North and South America. This joint venture will serve customers with a focus on North and South America and the ability to reach the other global markets.

International Flavours & Fragrances Inc. (US), International Flavors & Fragrances Inc. is a result of a merger that happened in February 2021 between International Flavors & Fragrances Inc.  (US) and Dupont’s Nutrition and Biosciences (US). The combined company continues to operate under the name International Flavors & Fragrances Inc. International Flavors & Fragrances Inc. is an American corporation that produces flavors, fragrances, and cosmetic actives, which it markets globally. In February 2021,  International Flavors & Fragrances (US) merged its taste and nutrition business with DuPont’s (US) Nutrition & Biosciences business. The combined company will operate under the name International Flavors & Fragrances. This merger helped the company gain market share globally and become one of the global industry leaders in the nutrition and biosciences segment. This helped the company expand its product portfolio for nutrition and biosciences related segments including sweeteners, scent, soy proteins, etc. Similarly in October 2022, International Flavors & Fragrances Inc. opened its innovation center worth USD 30 million in Singapore, to innovate and launch products and technologies in all its businesses. This will help the company come up with innovative products in various categories such as sweeteners.

Olam Group (Singapore), Olam International (Singapore) is engaged in sourcing, processing, packaging, and merchandising agricultural products. The company operates through five segments, namely, edible nuts, spices & beans (including cashews, peanuts, almonds, hazelnuts, spices, vegetable ingredients, sesame, and beans), confectionery and beverage ingredients (including cocoa, coffee, and shea nuts), industrial raw materials (including cotton, wool, wood products, rubber, agri-inputs (fertilizers), and special economic zone projects), and food staples & packaged foods (including rice, sugar & natural sweeteners, grains, such as wheat, barley, corn, palm products, dairy products, and packaged foods), and commodity financial services (including market making, risk management solutions, and commodity funds management). In September 2021, Olam Group launched a new line of spices named Blends of the Americas. This new line of spices consists of 17 new ready-to-use spice blends which are inspired by regional cuisines of the Americas.  This helped the company expand its spices portfolio to meet the growing demand for spices. Likewise in April 2021, Olam Group has entered a joint venture with Mondelez International, Inc. to develop a sustainable commercial cocoa farm in Indonesia.

Cargill, Incorporated (US), Cargill is involved in the production of various specialty ingredients and other industrial products for various applications. The company operates through four business segments, namely, animal nutrition & protein, food ingredients & applications, origination & processing, and industrial & financial services. It offers specialty ingredients through its food ingredients & applications segment. It offers a variety of ingredients for food and beverage manufacturers, food service companies, and other retailers. Various types of specialty food ingredients offered by the company include acidulants, sweeteners, starches, and protein ingredients, that find applications in the beverage, bakery, dairy, and meat sectors. It offers various ingredients to enhance the appearance, taste, and stability of fresh meat and specialty meat products. In July 2020, Cargill launched a new sweetener, C TruSweet 01795, to meet the growing demand for label-friendly and reduced sugar alternatives in Europe. This would also strengthen the company’s sweetener portfolio. Similarly in June 2020, Cargill invested USD 3.99 million in its Belgium site (Kalmthout) for gourmet chocolate production. This would help increase the company’s production capacity of ingredients used in confectionery applications.

Ingredion (US), Ingredion, formerly known as Corn Products International, Inc., is one of the leading providers of ingredient solutions to the food, beverage, brewing, health & nutrition, personal care, animal nutrition, and pharmaceutical industries, including various industrial sectors. The company operates through five business segments, namely, food, beverages, animal nutrition, brewing, and others. The company offers bulk food ingredients through its food, beverage, and brewing segments. The company offers various bulk food ingredients such as sugar, sweeteners, and flour. In July 2020, Ingredion has completed its rice manufacturing expansion in Banglen, Thailand. The development is part of the company's ongoing investment strategy to better serve clients throughout the world by expanding its specialized food ingredients business. Aside from regular rice-based products, the facility has enabled the development of multi-functional waxy rice flours with smooth and creamy textures, moderate to high process tolerance, and superior stability in ambient, refrigerated, and freeze/thaw conditions. These innovative products strengthen the company's functional native clean label range.

Related Reports:

Bulk Food Ingredients Market by Primary Processed Type, Secondary Processed Type, Application (Food, Beverage), Distribution Channel (Direct from Manufacturers, Distributors), and Region - Global Forecast to 2028

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Bulk Food Ingredients Market Size,  Share & Growth Report
Report Code
FB 4299
RI Published ON
6/8/2023
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