Global Bulk Food Ingredients Market
Bulk food ingredients are the components that are used in ready to eat foods, processed and packaged foods like chocolates, biscuits etc. Bulk food ingredients include artificial sweeteners, coffee and tea, spices, herbs, dry fruits, dehydrated vegetables etc. Bulk food ingredients can also be called as whole food ingredients and can be found in organic form.
Market dynamics: Bulk Food Ingredients Market
Increasing demand for the packed food and convenience food is the major factor which is driving the market revenue growth of the bulk food ingredients market. Furthermore, change in consumer lifestyles, growing health consciousness among the consumers, rise in disposable income, growing trend of consuming ready to cook food, high consumption of beverages, snacks and processed food, increase in working woman population are also propelling the growth of the bulk food ingredients market globally. However, strict regulatory framework, high cost of the products and unbalanced agriculture supply are the few factors which are restraining the growth of the market.
Market Scope: Bulk Food Ingredients Market
The bulk food ingredients market is classified on the basis of type, application and geographical regions.
Based on type, it is segmented as
- Grains, Cereals and Pulses
- Oil Seeds
- Spices and Herbs
- Tea and Coffee
- Sugar and Salt
- Processed Nuts and Dry Fruits
- Processed Spices and Herbs
- Sea Salt
Based on application, it is segmented as
- Bakery and confectionary products
- Ready to eat/cook meals
- Snacks and spreads
- Alcoholic and Non-alcoholic Beverages
Market Summary: Bulk Food Ingredients Market
Few ingredients in food ingredients market are experiencing rapid growth. Bulk food ingredients market is more complex and fragmented. Market players need to adopt changes according to consumer preferences in order to hold top positions. Growing safety and health concerns regarding processed foods is the most challenging issue for the market players to exist strongly in the bulk food ingredients market. Market players are focussing on the expansions, investments, mergers and acquisitions, collaborations and partnerships, new product launches in order to make their strong presence in the ingredients market.
Regional Analysis: Bulk Food Ingredients Market
Geographically bulk food ingredients market is segmented into Latin America, North America, Asia- Pacific, The Middle East & Africa and Europe. Due to the growing disposable income in emerging countries, rapid urbanization in the developing countries, adoption of the western lifestyle, increase in consumption of the processed food and canned food are the major factors attributed to the significant growth of bulk food ingredients market in Asia Pacific region especially in countries like India, China, New Zealand and Australia. North America and Europe hold a very significant position in the bulk food ingredients market owing to the high consumption of processed and canned food, growing demand for the low fat and low cholesterol food, growing health concerns among the consumers etc.
Market participants: Bulk Food Ingredients Market
Some of the players in Market are Dupont (U.S), Olam International (Singapore), Associated British Foods (UK), Archer Daniels Midland Company (U.S), DMH Ingredients( U.S), Ingredion Incorporated(U.S), Cargill Inc. (U.S). to name a few
Notable Market Developments: Bulk Food Ingredients Market
In October 2015, Olam International has acquired global cocoa business of ADM (Archer Daniel Midland Co.) to increase their market revenue and strengthen their global market presence.