Bulk Food Ingredients Market - How to Leverage on Food & Beverages Industry During COVID-19 Crisis?
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Some of the major companies that are present in the global bulk food ingredients market are
Olam International Limited,
Tate & Lyle Plc.,
Community Foods Limited,
EHL Ingredients, and Associated British Foods Plc.
Health Conscious Consumers Will Contribute Growth to Market
Bulk food ingredients are food components that are mainly utilized in the production of ready-to-eat food items, processed food and packaged food. Bulk food ingredients are usually present in processed-form and non-processed form for different applications. The rising shift in consumer preferences and eating habits is propelling the growth for the global bulk food ingredients market. The acceptance of western eating habits in developing nations of Asia Pacific is also propelling market growth.
Increasing demand for snacks and confectionery products is expected to have a positive impact on the global bulk food ingredients market during the forecast period. Further, the bulk food ingredients market is predicted witness demand in the forthcoming year owing to the increasingly health-conscious consumers. However, the high cost of processed and ready-to-eat meals are some of the factors restricting the growth of the global market. Fragile nature of processed food is predicted to further restrain the growth of the global bulk food ingredients market in the forthcoming year.
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New Products Launches by Companies to Aid Market
Leading companies in the global bulk food ingredients market are launching new products, acquisitions and merger activities which in turn is enabling the growth of the global bulk food ingredients market. For instance, Tate & Lyle Plc announced the expansion of its CLARIA Functional Clean-Label starch line, by adding two new instant starch products, CLARIA Instant 360 and 340. the global bulk food ingredients market is segmented on the basis of type into secondary processed and primary processed bulk food ingredients.
The aforementioned segments are further sub-segmented into, seeds & spices, herbs & grains, vegetable oils, nuts, dry fruits and others. spices & herb segment is projected to grow at a rapid pace during the forecast period owing to increasing consumer demand for ingredients with maximum health benefits. The global bulk food ingredients market is segmented into bakery, snacks & spreads, confectionery, and ready-to-eat meals.
Ready-to-eat meals segment is expected to hold maximum share in the market owing to the rising consumer inclination towards ready-to-eat foods as of the convenience and ease factor of the product. Rising disposable income of people along with busy & hectic schedules of consumers is predicted to contribute positively to the global bulk food ingredients market.
Major segments include:
Snacks & Spreads
Asia-Pacific to Dominate to The Global Market
Geographically, the global bulk food ingredients market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle East& Africa. Asia Pacific is predicted to grow at a remarkable rate during the forecast period, owing to the rising number of working individuals in the region.
Rapidly increasing population in the emerging nations such as India and China along with increasing disposable income in the region is predicted to contribute positively to the global food ingredients market. In addition, escalating demand for ready-to-eat meals and processed foods, and rapid urbanization is also propelling the growth of the bulk food ingredients market during the forecast period.
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