DUBLIN, June 21, 2021– (COMMERCIAL THREAD)–The “Bulk Food Ingredients Market by Primary Processing Type, Secondary Processing Type, Application (Food, Beverage), Distribution Channel (Direct from Manufacturers, Distributors), and Region – Global Forecast to 2026” the report was added to ResearchAndMarkets.com offer.
The global bulk food ingredients market is expected 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 type of food application, dominated the market in 2020.
The bakery products studied in this report include flour products, such as bread, rolls, cakes, pies, cookies, muffins, pastries, pizzas, pies and rolls. The global bakery products market is expected to grow at the fastest rate in the Asia-Pacific region due to the increased consumption of healthy food products. It should also stimulate the demand for bulk food ingredients. In addition, the aging of the population in North America and Europe and the increase in health awareness in these regions has resulted in a decrease in the consumption of baked food products. However, this has led to an increase in the consumption of whole grain baked goods. The improvement in the standard of living of people around the world has led to significant changes in lifestyles and eating habits.
Alcoholic beverages segment, by beverage application type, accounted for the largest share in 2020.
Alcoholic beverages include all spirits made from wheat, rye, barley, corn, sorghum, corn, millet, rice, buckwheat, and spices. There has been a significant increase in demand for European beer, ale, wine, whiskey and vodka made from bulk food ingredients due to their authentic flavors. The alcoholic beverage industry is the largest in Europe, with the region accounting for almost 25% of global alcohol production. The United Kingdom, France, Ireland and Germany are the largest alcohol consuming countries in the world.
The manufacturer direct segment, by distribution channel, dominated the market.
Common factors driving the growth of the manufacturing market locally are raw material prices (fluctuation), prices of competing / substitute products, sales strategies, economies of scale, advantages of specialization and trade laws and regulations. Investments in R&D activities for the development of new products and solutions in the bulk food ingredients market is expected to drive the market growth. The number of research projects on processed and prepared foods is increasing globally. The production of bulk food ingredients is expected to be influenced by increased R&D activities for processed and ready-to-use foods. R&D activities help innovate new products and solutions for various grease and oil applications. The increased demand for these ingredients in developed and developing regions has increased investment.
Strong growth is expected in the bulk food ingredients market in Asia-Pacific.
Busy lifestyles encourage the consumption of ready-made food products and an increase in disposable income. This has led to an increase in demand for high priced nutritional fortified foods and beverages in the region. The application of food ingredients is expected to increase at a faster rate in the region due to its demand among consumers. The main markets in the Asia-Pacific region are China, India, Japan and Australia. The processed food industry in the Asia-Pacific region is experiencing strong growth due to changing lifestyles of customers
Rapid growth in the packaged food and beverage industry
Increase in end-use applications
Environmental and economic benefits
Archer Daniels Midland Company
Associated British Foods plc
Ingredients Dmh, Inc.
Essex Food Ingredients
Gcl food ingredients
McCormick & Company, Inc.
International Organic Partners, LLC
Pacmoore Products Inc.
Food Ingredients Subnutra Pvt. Ltd.
Tate & Lyle plc
Green Laboratories LLC
The Source Bulk Foods
For more information on this report, visit https://www.researchandmarkets.com/r/hz28b3
See the source version on businesswire.com: https://www.businesswire.com/news/home/20210621005416/en/
Laura Wood, Senior Press Director
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