Savoring Growth in Convenience and Innovation

The Business Research Company’s Bulk Food Ingredients Global Market Report 2024 – Market Size, Trends, And Market Forecast 2024-2033

LONDON, GREATER LONDON, UK, December 21, 2023 /EINPresswire.com/ — The global bulk food ingredients market showcased robust growth, surging from $707.66 billion in 2022 to $761.71 billion in 2023, recording a notable Compound Annual Growth Rate (CAGR) of 7.6%. This positive trajectory is anticipated to persist, reaching $950.47 billion in 2027, with a steady CAGR of 5.7%.

Driving Forces: Demand for Convenience Food
The escalating demand for convenience food products emerges as a key driver propelling the bulk food ingredients market forward. Convenience foods, characterized by their ready-to-eat nature and widespread availability in restaurants and grocery stores, are witnessing a surge in popularity. These processed foods, including snacks and frozen items, require minimal to no preparation effort. With consumers seeking hassle-free options, convenience foods utilize bulk food ingredients as raw materials. Notably, U.S. snack sales saw a 5% increase in the first half of 2021 compared to 2020, signaling a growing preference for convenient food choices.

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Market Players: Leaders in the Mix
Major players shaping the bulk food ingredients market include Tate & Lyle PLC, Archer Daniels Midland Company, DuPont, Olam International, Cargill Incorporated, Ingredion Incorporated, Associated British Foods PLC, Bunge Limited, DMH Ingredients Inc., Community Foods Limited, The Source Bulk Foods, Essex Food Ingredients, Ingredients Inc., GCL Food Ingredients, and Organic Partners International LLC.

Innovation Wave: Upcycled Feedstocks
A prominent trend in the bulk food ingredients market is the surge in new product innovations, with a focus on upcycled feedstocks. Leading companies are introducing innovative products, such as FrieslandCampina Ingredients’ Biotis launched in June 2020. Biotis aims to enhance various aspects of health, including digestive health, by interacting with the body’s natural processes. This innovation reflects a commitment to offering healthy and functional ingredients, aligning with evolving consumer preferences.

Regional Landscape: North America Dominates, Asia-Pacific Accelerates
In 2022, North America emerged as the largest region in the bulk food ingredients market, while Asia-Pacific is poised to be the fastest-growing region in the forecast period. The comprehensive market report spans regions such as Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Market Segmentation:
The global bulk food ingredients market is segmented –
1) By Type: Primary Processed Bulk Food Ingredients, Secondary Processed Bulk Food Ingredients
2) By Application: Ready Meals, Bakery Products, Confectionery Products, Snacks and Spreads, Other Applications
3) By Distribution Channel: Supermarkets and Hypermarkets, Convenience Stores, Specialty Stores, E-Commerce, Others Distribution Channels

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Bulk Food Ingredients Global Market Report 2023 from TBRC covers the following information:
•Market size date for the forecast period: Historical and Future
•Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
•Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Bulk Food Ingredients Global Market Report 2023 by The Business Research Company is the most comprehensive report that provides insights on bulk food ingredients market size, bulk food ingredients market drivers and trends, bulk food ingredients market major players, competitors’ revenues, bulk food ingredients market positioning, and market growth across geographies. The bulk food ingredients market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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