Bulk Food Ingredients Market Size, Share, Growth Drivers, Industry Overview, Opportunities, Key Segments, Top Companies, and Revenue Forecast (2023-2028)

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
The [https://www.prnewswire.com/news-releases/bulk-food-ingredients-market-worth-454-6-billion-by-2028--exclusive-report-by-marketsandmarkets-301848002.html] is expected to grow from USD 366.7 billion in 2023 to USD 454.6 billion by 2028, reflecting a CAGR of 4.4% in terms of value. This growth is driven by several key factors. As the global population rises, so does the demand for food products. Shifts in dietary habits, such as a preference for convenience and an increase in processed and packaged foods, are further fueling this demand. The expansion of the food processing industry also plays a role, as it requires a steady and cost-effective supply of bulk ingredients. Bulk purchasing helps manufacturers achieve economies of scale and reduce costs, while also offering flexibility for ingredient customization and formulation. These dynamics, alongside the need for efficient sourcing and production, are propelling the growth of the bulk food ingredients market.

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Bulk Food Ingredients Market Drivers [https://www.globenewswire.com/en/news-release/2023/12/01/2789246/0/en/Bulk-Food-Ingredients-Market-Size-Share-Growth-Industry-Trends-Forecast-2028.html]: Rise in end-use applications

The demand for nutrient-rich products is notably high in Europe and North America, driven by growing consumer awareness. As parents increasingly choose foods like grains, oilseeds, and nuts, which are expected to hold a significant share in the bulk ingredients market, the consumption of nutritionally dense products is set to rise. These foods support healthy child development and are integral to various applications such as bakery and confectionery, snacks and spreads, ready meals, infant formulas, and dairy products, all of which are anticipated to see substantial growth over the next five years, boosting the demand for bulk food ingredients.

Food products are processed for several reasons, including improving safety by eliminating harmful microorganisms, extending shelf life, and enhancing convenience. Processed bulk food ingredients find their way into various end-use applications across industries. As bulk food ingredients constitute a major portion of the raw materials needed by the food processing sector, the increasing demand for packaged and processed foods is expected to drive the growth of the bulk food ingredients market.

By primary processed type, herbs & spices segment is projected to have the fastest growing rate during the forecast period.

The global demand for natural and organic ingredients is on the rise, fueled by a growing consumer preference for clean label products. Herbs and spices, known for their ability to enhance flavors, offer distinctive tastes, aromas, and health benefits. These natural ingredients are prevalent in a wide array of cuisines and food applications, including processed and packaged foods, beverages, sauces, and seasonings. By providing a broad spectrum of flavors, herbs and spices help differentiate food products and enable manufacturers to craft unique and appealing taste experiences. As consumers seek diverse and exciting flavor profiles, the demand for a variety of herbs and spices continues to grow.

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By application, beverage segment is projected to have fastest growing rate during the forecast period.

Global demand for a diverse range of beverages is on the rise, encompassing carbonated drinks, juices, sports drinks, ready-to-drink teas and coffees, functional beverages, and alcoholic options. As consumers pursue convenience and novel flavor experiences, the beverage industry is continually evolving to meet these expectations. With growing awareness of health and wellness, there is an increasing preference for healthier beverage choices. This trend drives the demand for drinks made with natural ingredients, reduced sugar, functional additives, and botanical extracts. Bulk food ingredients such as natural sweeteners, fruit extracts, natural flavors, and plant-based components play a crucial role in creating healthier and more appealing beverage products.

Asia Pacific is expected to have the fastest growing rate during the forecast period.

The Asia Pacific region is experiencing rapid population growth, which is driving increased food consumption and escalating the demand for bulk food ingredients to support expanding production needs. As more individuals enter the middle class and gain higher disposable incomes, the appetite for processed and convenience foods surges, further fueling the need for bulk ingredients. Shifting dietary patterns-spurred by urbanization, lifestyle changes, and Western influences-have led to greater consumption of processed and packaged foods. Consequently, manufacturers need large quantities of bulk ingredients to satisfy the rising demand for these convenience items. Additionally, heightened consumer awareness of health and wellness is spurring a preference for natural and organic food products. Bulk ingredients like herbs, spices, natural sweeteners, and functional additives are increasingly sought after to meet this demand for cleaner, healthier options.

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The key players in this market include ADM (US), International Flavours & Fragrances Inc. (US), Olam Group (Singapore), Cargill, Incorporated (US), Ingredion (US), Associated British Foods plc (UK), Tate & Lyle PLC (UK), EHL Ingredients (UK), Batory Foods (US), Graincorp (Australia), Community Foods (UK), McCormick & Company, Inc. (US), The Source Bulk Foods (Australia), Essex Food Ingredients (US), and Subnutra (India). These players have adopted various growth strategies such as collaborations and acquisitions to increase their global market presence.

ADM (US), Archer Daniels Midland Company, also known as ADM, is engaged in the production and distribution of food ingredients, animal feed & feed ingredients, biofuels, and naturally derived alternatives to industrial chemicals. ADM is one of the key players in the trading of commodities and the processing of agricultural products. With more than a century of experience, ADM maintains a diverse portfolio of businesses that cover the entire value chain of agriculture. The ability of ADM to source, process, and distribute agricultural commodities including grains, oilseeds, and other raw materials is one of its key competitive advantages. Through its extensive network of origination facilities, processing plants, and logistics capabilities, ADM efficiently connects farmers and producers with customers worldwide. In June 2022, ADM (US) partnered with Bayer AG (Germany) to build and implement a sustainable crop protection model for soybean farmers in Maharashtra, India. During this partnership, Bayer will provide regular training to ADM cluster agronomist team in Soybean markets and Bayer will also develop a crop protection package for all crops of soybean and pulses. This partnership will enhance the sustainable value offerings to soybean farmers and help the company achieve the company's sustainable goals. In October 2022, Marfrig and ADM launched PlantPlus foods that offers a wide range of finished plant-based food products across North and South America. This joint venture will serve customers with a focus on North and South America and the ability to reach the other global markets.

International Flavours & Fragrances Inc. (US), International Flavors & Fragrances Inc. is a result of a merger that happened in February 2021 between International Flavors & Fragrances Inc. (US) and Dupont's Nutrition and Biosciences (US). The combined company continues to operate under the name International Flavors & Fragrances Inc. International Flavors & Fragrances Inc. is an American corporation that produces flavors, fragrances, and cosmetic actives, which it markets globally. In February 2021, International Flavors & Fragrances (US) merged its taste and nutrition business with DuPont's (US) Nutrition & Biosciences business. The combined company will operate under the name International Flavors & Fragrances. This merger helped the company gain market share globally and become one of the global industry leaders in the nutrition and biosciences segment. This helped the company expand its product portfolio for nutrition and biosciences related segments including sweeteners, scent, soy proteins, etc. Similarly in October 2022, International Flavors & Fragrances Inc. opened its innovation center worth USD 30 million in Singapore, to innovate and launch products and technologies in all its businesses. This will help the company come up with innovative products in various categories such as sweeteners.

Bulk Food Ingredients Industry [https://www.marketsandmarkets.com/Market-Reports/bulk-food-ingredient-market-2141018.html] News:

In January 2023, Cargill, Incorporated announced the completion of its acquisition of Owensboro Grain Company, a soybean processing facility and refinery located in Owensboro, Ky. Cargill's acquisition of Owensboro Grain Company will strengthen its efforts to build capacity across its North American oilseeds network to meet the rising demand for oilseeds in the food, feed, and renewable fuel industries.

In October 2022, International Flavors & Fragrances Inc. opened its innovation center worth USD 30 million in Singapore, to innovate and launch products and technologies in all its businesses. This will help the company come up with innovative products in various categories such as sweeteners.

In July 2022, Olam Group acquired Club Coffee L.P., which is one of Canada's largest coffee roasters and packaging solutions providers. This will help the company grow its coffee business in Canada, strengthen its coffee business, and meet the growing demand for coffee.

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