The global bulk food ingredients market size is expected to reach USD 439.7 billion by 2030, according to a new study by Polaris Market Research. The report “Bulk Food Ingredients Market Share, Size, Trends, Industry Analysis Report, By Type (Primary Processed, Secondary Processed); By Application; By Distribution Channel; By Region; Segment Forecast, 2022 - 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.
Consumer awareness of eating healthy food has increased the demand for organic and functional food items. The rising diseases, health such as cardiovascular problems, obesity, and diabetes, primarily among the young generation, have resulted in opting for healthy and nutritious diets and avoiding junk products, alcohol, and meat consumption. Thereby resulting in driving the demand for the product. The COVID-19 pandemic undoubtedly altered the buying and selling pattern of consumers in the market, in which there has been a drastic shift from offline mode to the online distribution channel and convenience stores.
Further, there is a high demand for gourmet bulk food ingredients due to the increasing interest in culinary arts among homebound individuals, mainly during the lockdown. Connoisseur consumable products have become snacks, bakery items, and frozen eatables. However, ready-to-eat meals and frozen consumables have drastically increased for people with less time for cooking. Thereby increasing the demand for bulk food ingredients.
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The secondary processed eatable ingredients are expected to account for the largest share in the global market during the forecast period. Secondary processing is the conversion of bulk goods into edible items. Secondary processed ingredients are used in processed and packed consumables such as chocolate, confectionery items, biscuits, beverages, artificial sweeteners, flavors, and extracts.
The rapid urbanization and rising economies are expected to provide growth opportunities for the global bulk ingredient market. Additionally, increasing demands among developing economies such as China, India, Brazil, Mexico, and others for demand grains, cereals, and pulses will also contribute to the growth of the bulk ingredient market.
As consumers juggle work and personal life, ready meals are a handy option for a quick lunch or dinner. Owing to this factor, many consumers are resorting to ready meals, seeking high-quality ingredients and diverse flavor profiles in the products.
In response to increasing demand for ready meals, food manufacturers are launching international variants ranging from soups and full course meals to premade sauces and condiments. As a result, sales of bulk food ingredients are forecast to gain momentum in the upcoming years.
Bulk Food Ingredients Market Report Highlights
Polaris Market Research has segmented the bulk food ingredients market report based on product, application, and region:
Bulk Food Ingredients, Type Outlook (Revenue - USD Billion, 2018 - 2030)
Bulk Food Ingredients, Application Outlook (Revenue - USD Billion, 2018 - 2030)
Bulk Food Ingredients, Distribution Channel Outlook (Revenue - USD Billion, 2018 - 2030)
Bulk Food Ingredients, Regional Outlook (Revenue - USD Billion, 2018 - 2030)