Global Bulk Ingredients Market, By Type (Primary Processed Bulk Food Ingredients, Secondary Processed Bulk Food Ingredients), Application (Food Applications, Beverage Applications) – Industry Trends and Forecast to 2029
Market Analysis and Size
The increased growth of the packaged food and beverage industry, and the rise in end-use applications and environmental and economic benefits such as low packaging costs, have led to an increase in demand for processed products and, as a result, market growth.
Data Bridge Market Research analyses that the bulk ingredients market was valued at USD 809.3 million in 2021 and is expected to reach the value of USD 1204.85 million by 2029, at a CAGR of 5.10% during the forecast period of 2022-2029.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Type (Primary Processed Bulk Food Ingredients, Secondary Processed Bulk Food Ingredients), Application (Food Applications, Beverage Applications)
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Countries Covered
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U.S., Canada, Mexico, Germany, U.K., Italy, France, Spain, Russia, Turkey, Switzerland, Belgium, Netherlands, Denmark, Sweden, Poland, Turkey, rest of Europe, Japan, China, South Korea, India, Australia, Singapore, Japan, Thailand, Indonesia, New Zealand, Vietnam, Thailand, Indonesia, Malaysia, Philippines, rest of Asia-Pacific, South Africa, Kuwait, Qatar, Oman, Saudi Arabia, U.A.E., and rest of the Middle East and Africa, Brazil, Argentina & rest of South America
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Market Players Covered
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Cargill Incorporated (US), BASF SE (Germany), DSM (Netherlands), Orkla (Norway), Croda International Plc (UK), Lonza. (Switzerland), Corbion (Netehrlands), GC Rieber (India), Epax (Norway), Runke Bioengineering (China), Nordic Naturals, Inc. (US), Sinomega Biotech Engineering Co. Ltd. (China), Polaris (US), Huatai Biopharm (China), ALGISYS LLC (US), and Biosearch Life (Spain)
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Opportunities
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Market Definition
Ingredients found in bulk food are those found in packaged, processed, and ready-to-eat foods. Herbs and spices, as well as sweeteners and other whole food ingredients, are frequently available in organic form. Food ingredients in bulk are available in both processed and unprocessed forms. Whole food ingredients are bulk food ingredients.
Bulk Ingredients Market Dynamics
Drivers
- Long shelf life as well as growing demand from personal care industry
Convenience food demand has steadily increased as customers' spending power has increased and their lifestyles have become busier. As a result of this increased convenience food demand, bakery food goods, fast food goods, and desserts have all seen an increase in demand. The rise in demand for convenience meals is more noticeable in developing countries, where per capita food expenditure rises in lockstep with per capita income. The global bulk food ingredients Industry is driven by bulk food ingredients such as herbs and spices, and sweeteners, which go into providing the food with key organoleptic qualities as well as providing the food product with a longer than normal shelf life to appeal to customers.
- The growing cultural trend and influence of gourmet food
Gourmet bulk food ingredients are in high demand due to cultural influence and growing interest in culinary arts among homebound individuals. To achieve that gourmet effect, food enthusiasts around the world spend extra time on food preparation and researching the source of origin. Gourmet food ingredients have made their way into snacks, bakery items, and frozen food. For busy people, ready-to-eat meals and frozen gourmet food can provide similar taste and luxury, implying that the bulk food ingredients market has ample of room to grow.
Opportunity
Rising economic and environmental benefits, and rising sugar and sweetener preferences, are some of the factors that will likely accelerate the growth of the bulk ingredients market during the forecast period. On the other hand, rising demand for clean label products and the expansion of untapped markets in emerging economies will fuel the growth of the bulk ingredients market during the forecast period.
Restraints
Bulk food ingredients processors face a number of challenges, including maximising available space, managing various storage temperatures, and responding to rapid stock turnover while maintaining hygiene and product traceability. The high initial investment required to enter the market is a significant factor that could impede the global bulk food ingredients.
This bulk ingredients market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the bulk ingredients market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Bulk Ingredients Market
Raw material prices are expected to rise as a result of trade barriers, disruptions in raw material supply, and inefficient distribution channels caused by COVID-19. The unavailability and high cost of raw materials and high production costs are expected to pose challenges to the global bulk ingredients market's growth. Security of the food supply chain is becoming increasingly important in the COVID-19 world. The closure of plants involved in the production of vegetable oils in Malaysia and Indonesia has resulted in a scarcity of ingredients such as palm oils. Due to the pandemic's lockdown, European food manufacturers were unable to obtain savoury ingredients such as pepper from India.
Recent development
- Olam Food Ingredients acquired Olde Thompson, a leading private label spice and seasonings manufacturer, in April 2021. This acquisition supports OFI's growth strategy of becoming a global leader in providing sustainable, natural, value-added food and beverage ingredients and solutions so that consumers can continue to enjoy the healthy and tasty products they enjoy.
- Olam International and Mondçlez International, Inc. formed a joint venture in April 2021 to develop a sustainable commercial cocoa farm in Indonesia.
- Tate & Lyle acquired 85 percent of Chaodee Modified Starch Co. Ltd in February 2021 to strengthen its tapioca food starch segment in the Asia Pacific market. This acquisition will allow them to expand their presence in specialty tapioca-based texturants and meet the needs of their customers.
Global Bulk Ingredients Market Scope
The bulk ingredients market is segmented on the basis of type and application. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Primary Processed Bulk Food Ingredients
- Grains
- Pulses
- Cereals
- Tea
- Coffee
- Cocoa
- Nuts
- Herbs & spices
- Oilseeds
- Sugar
- Salt
- Others
- Secondary Processed Bulk Food Ingredients
Application
- Food Applications
- Bakery products
- Snacks & spreads
- Ready meals
- Confectionery products
- Other food applications
- Beverage Applications
- Alcoholic beverages
- Non-alcoholic beverages
- Hot beverages
- Cold beverages
Bulk Ingredients Market Regional Analysis/Insights
The bulk ingredients market is analysed and market size insights and trends are provided by country, type and application as referenced above.
The countries covered in the bulk ingredients market report are U.S., Canada, Mexico, Germany, U.K., Italy, France, Spain, Russia, Turkey, Switzerland, Belgium, Netherlands, Denmark, Sweden, Poland, Turkey, rest of Europe, Japan, China, South Korea, India, Australia, Singapore, Japan, Thailand, Indonesia, New Zealand, Vietnam, Thailand, Indonesia, Malaysia, Philippines, rest of Asia-Pacific, South Africa, Kuwait, Qatar, Oman, Saudi Arabia, U.A.E., and rest of the Middle East and Africa, Brazil, Argentina & rest of South America.
Asia-Pacific dominates the global bulk food ingredients market. Investments in developed countries to improve the nutritional content of beverages are increasing dramatically. The major players in various regions are employing various tactics, such as introducing new products to meet consumer demand, which is causing product demand to accelerate. China's economic performance is favourable to regional development, due to large-scale investments in technology and research. China's food and beverage industry is likely to undergo significant changes as a result of issues such as economic inequity and urbanisation, among others.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Bulk Ingredients Market Share Analysis
The bulk ingredients market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to bulk ingredients market.
Some of the major players operating in the bulk ingredients market are:
- Cargill Incorporated (US)
- BASF SE (Germany)
- DSM (Netherlands)
- Orkla (Norway)
- Croda International Plc (UK)
- Lonza. (Switzerland)
- Corbion (Netherlands)
- GC Rieber (India)
- Epax (Norway)
- Runke Bioengineering (China)
- Nordic Naturals, Inc. (US)
- Sinomega Biotech Engineering Co. Ltd. (China)
- Polaris (US)
- Huatai Biopharm (China)
- ALGISYS LLC (US)
- Biosearch Life (Spain)
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