DUBLIN, Jun 21, 2021--(BUSINESS WIRE)--The "Bulk Food Ingredients Market by Primary Processed Type, Secondary Processed Type, Application (Food, Beverages), Distribution Channel (Direct From Manufacturers, Distributors), and Region - Global Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The global bulk food ingredients market is projected to reach USD 1,008.1 billion by 2026, from USD 808.9 billion in 2021, at a CAGR of 4.5% during the forecast period.
The bakery products segment, by food application type, dominated the market in 2020.
The bakery products studied in this report include flour-based products, such as bread, rolls, cakes, pies, cookies, muffins, pastries, pizza, tarts, and buns. The global bakery products market is projected to grow at the highest rate in the Asia Pacific region due to the increase in consumption of health-enriching food products. This is also projected to drive the demand for bulk food ingredients. Furthermore, the aging population in North America and Europe and the rise in health awareness in these regions have led to a decline in the consumption of baked food products. However, it has led to an increase in the consumption of whole-grain bakery products. The improved standards of living among people around the world have led to significant changes in lifestyles and eating habits.
The Alcoholic beverages segment, by beverage application type, accounted for the largest share in 2020.
Alcoholic beverages include all alcohols manufactured with the use of wheat, rye, barley, corn, sorghum, corn, millet, rice, buckwheat, and spices. There has been a significant increase in demand for European ale, beer, wine, whiskey, and vodka made of bulk food ingredients due to their authentic flavors. The alcoholic beverages industry is the largest in Europe, with the region accounting for nearly 25% of the global alcohol production. The UK, France, Ireland, and Germany are the largest alcohol-consuming countries in the world.
The direct from manufacturers segment, by distribution channel, dominated the market.
Common factors that drive the growth of the manufacturing market at the local level are raw material prices (fluctuation), prices of competitive/substitute products, sales strategies, economies of scale, specialization advantages, and business laws & regulations. Investments in R&D activities for the development of new products and solutions in the bulk food ingredients market are projected to drive market growth. The number of research projects on processed & convenience foods is increasing globally. The production of bulk food ingredients is projected to be influenced by the increase in R&D activities for processed & convenience foods. R&D activities help in innovating new products and solutions for various applications of fats & oils. The increase in demand for these ingredients in both developed and developing regions has increased investments.
High growth is projected in the Asia Pacific bulk food ingredients market.
Busy lifestyles are encouraging the consumption of convenience food products and an increase in disposable incomes. This has led to an increase in demand for high-priced fortified nutritional food & beverage products in the region. The application of food ingredients is estimated to increase at a faster pace in the region due to its demand among consumers. Key markets in the Asia Pacific region include China, India, Japan, and Australia. The processed food industry in the Asia Pacific region is witnessing high growth due to the changing lifestyles of customers
Market Dynamics
Drivers
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Rapid Growth in the Packaged Food & Beverage Industry
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Rise in End-Use Applications
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Environmental and Economic Benefits
Restraints
Opportunities
Challenges
Companies Mentioned
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Archer Daniels Midland Company
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Associated British Foods plc
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Cargill, Incorporated
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Dmh Ingredients, Inc.
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Dupont
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Ehl Ingredients
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Essex Food Ingredients
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Gcl Food Ingredients
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Ingredients Inc.
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Ingredion Incorporated
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Mccormick & Company, Inc.
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Olam International
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Organic Partners International, LLC
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Pacmoore Products Inc.
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Pure Ingredients
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Subnutra Food Ingredients Pvt. Ltd.
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Tate & Lyle plc
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The Green Labs LLC
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The Source Bulk Foods
For more information about this report visit https://www.researchandmarkets.com/r/hz28b3
View source version on businesswire.com: https://www.businesswire.com/news/home/20210621005416/en/
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