The food components used in ready-to-eat, packaged (chocolates, biscuits, confectionery items, beverages, etc.), and processed foods are known as bulk food ingredients. It comprise grocery products like sugars, tea & coffee extracts, herbs & spices, seeds & nuts, wheat, dehydrated vegetables, rice, and artificial sweeteners. Bulk food ingredients are generally purchased by retail store owners and whole sale suppliers. These are also called whole food ingredients, found in natural form.
The key factors fueling the demand in the global bulk food ingredients market are increased awareness among people about their health & maintenance leading to demand for wellness products and shift in people’s lifestyle, leading to the surge in demand for ready-to-eat and processed food.
Though the emerging regions like Asia Pacific are getting influenced by westernization, people in this region are still not much open to the consumption of processed food. The issues related to the hygiene, safety, and freshness of these products is always a point of concern for the consumers and manufacturers. Besides, these foods are comparatively more expensive that other items which are not affordable by all class of people. These factors are foreseen to hinder the global bulk food ingredients market.
With increased number of employment and working women in developing and developed nations, there has been a shift in the way of living, where people are usually occupied with hectic schedules. This boosts the demand for ready-to-eat foods. In addition, the key players are also roping in the celebrities to endorse their products and coming up with the new variants at rapid pace. These factors are foreseen to accelerate the growth in the global market.
The global bulk food ingredients market is broadly categorized into product, application, and region. In terms of product, the market is divided into rice, wheat grains, nuts (cashews, almonds, peanuts, hazel nuts, walnuts, pistachios, etc.), spices & herbs (dried basil, bay leaves, chamomile, saffron, green tea, etc.), green food (barley grass powder, alfalfa powder, chlorella powder, kelp powder, etc.), tea & coffee extracts, artificial sweeteners, sugar, gums, custom products, frozen dried fruits, dehydrated vegetables, and others. Based on application, the global market is segregated as chocolates, food & beverages, confectionery, and snacks.
Geographically, North America is foreseen to lead the global bulk food ingredients market within the forecast period. This is credited to the increased consumption of ready-to-eat and processed food. The region is trailed by Asia Pacific, attributed to rising global exposure and westernization. Besides, rise in working people in both the regions is also a contributing factor behind the market growth.
The key players leading the global bulk food ingredients market are EHL Ingredients, Archer Daniels Midland Company, Olam International, El.Du Pont de Nemons and company, Ingredion Incorporated, DHM Ingredients, Community Food Limited, Cargill Incorporated and others. One of the key players, Tate & Lyle, a world known provider of food & beverage ingredients and solutions, collaborated with the ‘Collaborate at Home Kitchen,’ which is an engagement platform where the manufacturers can explore new opportunities and trends that support the consumer choices.