High Instant Foods Demand Propels Bulk Food Ingredients Market: FMI
The global bulk food ingredients market is scheduled to grow steadily through 2030, according to a recently published report by Future Market Insights (FMI). Growth is majorly propelled by increasing ready-to-eat and drink foodstuffs and beverages.
Bulk Food Ingredients Market
A recent market report published by FMI on the Bulk Food Ingredients Market provides globa...
As urbanization expands, people are employed in high-paying professions, requiring them to dedicate considerable amounts of time and effort. This leaves them with limited time to enjoy proper home cooked meals. Consequently, they rely on foods which are readily available for consumption or take less time to cook.
Emerging economies such as India and China are especially witnessing prolific expansion due to surging disposable incomes. However, medium-term growth prospects are expected to be moderate due to COVID-19 disrupting supply chains.
- Ready meals gaining upward traction, bakery products to yield credible revenue prospects
- Processed herbs & spices to dominate food manufacturers’ ingredient choice while processed grains, pulses and cereals are gaining momentum
- North America to witness substantial revenue growth, Asia-Pacific to pivot global market demand
- Skepticism about the quality of idle foods on shelves may impede growth
“Prominent players are seeking to establish robust links with local manufacturers to formulate robust distribution networks, paving way for enhanced market penetration across lucrative geographies,” opines the FMI analyst.
COVID-19 Impact Insights
The COVID-19 pandemic is ushering in substantial downswing in the bulk food ingredients market. Mandatory shutdowns to contain the virus have halted production cycles, leading to restricted output and subsequent supply shortages.
Moreover, lockdowns have prevented cross-border and intra-border logistics, inducing shortage of raw materials required for the production process. This slump is anticipated to prevail for the medium-term forecast.
Fortunately, demand has remained consistent with the advent of e-commerce, leading to a shift in consumer purchasing behavior. Various e-commerce giants are collaborating with prominent food giants and bulk food ingredient providers to make products available to all end-users.
Bulk Food Ingredients Key Players
Prominent players operating in the bulk food ingredients landscape include DuPont, Archer Daniels Midland Company, Cargill Foods Inc., Tate & Lyle PLC, Associated British Foods plc, Olam International, Ingredion Incorporated, EHL Ingredients, Wilmar International, Suntory, Koninklijke DSM N.V., Symrise AG, Kerry Group Plc, Bunge Limited and Ajinomoto among others.
Vendors are emphasizing on establishing strong links with regional manufacturers in order to develop robust distribution channels. This strategy helps ensure that the final product reaches consumers in a timely and proper manner.
Additionally, players are also concentrating on collaborations with existing players, acquisition of startups or relatively small market players and partnerships with regional governments to deepen their penetration.
More Insights on the Bulk Food Ingredients Market
Future Market Insights, in its new report, offers an unbiased analysis of the global bulk food ingredients market, analyzing historical demand from 2015-2019 and forecast statistics for 2020-2030. The study reveals growth projections on the bulk food ingredients market on the basis of product type (vegetable oil, sea salt, sugar & sweeteners, tea, coffee & cocoa, flours, processed grains, pulses & cereals, dried fruits & processed nuts, processed herbs & spices and others), application (bakery & confectionery, beverages, meat & poultry, sea food, ready meals, dairy products, snacks & savory, sauces & dressings and condiments, frozen foods and others) across seven prominent regions.
About Food Market Division at FMI
Expert analysis, actionable insights, and strategic recommendations – the food & beverage team at Future Market Insights helps clients from across the globe with their unique business intelligence needs. With a repertoire of over 1,000 reports and 1 million+ data points, the team has analysed the food & beverage industry lucidly in 50+ countries for over a decade. The team provides end-to-end research and consulting services; reach out to explore how we can help.
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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