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

Northbrook, IL 60062 -- (SBWire) -- 06/14/2023 --The global bulk food ingredients market is projected to reach USD 454.6 billion by 2028, growing at a CAGR of 4.4% during the forecast period. Bulk food ingredients refer to the ingredients used in packaged, processed, and ready-to-eat products such as chocolates, candy, and beverages. This market is experiencing significant growth due to increased spending on processed goods and a shift in consumer preferences towards organic and clean food items.

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The primary processed type segment of grains, pulses, and cereals holds the largest share in the bulk food ingredients market in terms of value. Grains, pulses, and cereals are essential ingredients consumed by humans and animals, driven by factors such as population growth, changing diets, rising disposable income, and urbanization.

In the secondary processed type segment, processed herbs and spices are expected to grow at the highest rate. North America currently dominates the consumption of processed herbs and spices, but Asian countries like India and China are major producers and exporters. The increasing demand for convenience food and meat products is projected to drive the global demand for herbs and spices.

Within the application segment, the food segment is estimated to grow at the highest rate. Manufacturers are continuously innovating and launching new food products to meet the changing preferences of consumers. Additionally, sugar substitutes are gaining popularity in processed foods and household applications due to their low-calorie content and sweetness.

The Asia Pacific region is the fastest-growing and largest market for bulk food ingredients in terms of value. Busy lifestyles, increasing disposable incomes, and the demand for nutritional food and beverage products are driving the growth of convenience food consumption in this region. Key markets in the Asia Pacific include China, India, Japan, and Australia, where the processed food industry is witnessing high growth.

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Key players in the bulk food ingredients market include Archer Daniels Midland Company, International Flavours & Fragrances Inc., Olam Group, Cargill, Incorporated, Ingredion, Associated British Foods plc, Tate & Lyle PLC, and others. These companies are expanding their market presence, enhancing their solutions, and partnering with technology companies to cater to global consumers. Their strong market presence and diverse product offerings contribute to their success in the global bulk food ingredients market.

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