The bulk food ingredients market is projected to grow at a CAGR of 4.2% during the forecast period, to reach USD 472.10 billion by 2021. The market is driven by factors such as increasing demand for packaged or convenience food & beverage products and processed food products owing to changing consumer lifestyles, which in turn are expected to increase the demand for bulk food ingredients, globally. The high growth potential in emerging markets and untapped regions provide new growth opportunities for market players.“Ready meals segment is projected to grow at the highest rate”
Among the applications of bulk food ingredients, the ready meals segment is projected to grow at the highest rate in the global bulk food ingredients market. Factors such as busy consumer lifestyles, urbanization, and increased disposable incomes have led to an increased demand for ready to eat or convenience food products.
“Europe led the beverage application segment”
In the beverage application segment of the global bulk food ingredients market, the European region accounted for the largest share in 2015. Europe is the largest alcoholic beverage producer, globally accounting for one-fourth of the market share. There has been a significant increase in the demand for European ale, beer, wine, whiskey, and vodka made of bulk food ingredients such as barley, wheat, and rice, owing to their authentic taste and flavor.
“Asia-Pacific is projected to lead the market in terms of growth rate”
On the basis of region, the bulk food ingredients market is led by the Asia-Pacific region. The economic growth in Asian countries such as China, India, Japan, and Australia-New Zealand offers great market investment opportunities to the food & beverage manufacturers. These countries are expected to become major regional markets that would contribute to the growth of the global bulk food ingredients market in the near future.
BREAKDOWN OF PROFILE OF PRIMARY PARTICIPANTS
- By Company Type - Tier 1 – 40 %, Tier 2 – 40% and Tier 3 – 20%
- By Designation – C level – 40%, Director level – 20%, Manger level –40%
- By Region –North America – 12%, Europe– 25%, Asia-Pacific – 50%, Middle East –13%
Reasons To Buy this report:
- To get a comprehensive overview of the global bulk food ingredients market
- To gain wide ranging information about the top players in this industry, their product portfolios and key strategies adopted by them
- To gain insights of the major countries/regions in which the bulk food ingredients market is flourishin