Bulk Food Ingredients Market worth $1,008.1 billion by 2026 - Exclusive Report by MarketsandMarkets

CHICAGO, June 4, 2021 /PRNewswire/ -- According to the new market research report "Bulk Food Ingredients Market by Primary Processed Type, Secondary Processed Type, Application (Food, Beverages), Distribution Channel (Direct From Manufacturers, Distributors), and Region - Global Forecast to 2026", published by MarketsandMarkets, the global Bulk Food Ingredients Market is projected 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. 

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The rise in demand and preference for organic food products, bulk food ingredient manufacturers have been strategizing to develop innovative solutions for the market at a reasonable price. The surge in global Internet penetration would be another influential trend encouraging sales growth in terms of value. Staples, such as dairy, baked goods, and oils & fats, account for the largest share in the packaged food sales in both developed and developing countries. However, products such as confectionery, ice cream, and sweet and savory snacks are projected to drive growth in the bulk ingredients market for the next few years.

The grains, pulses, and cereals segment accounted for the largest market share of the primary processed bulk food ingredients market, nearly 63.1% in 2020

Grains, pulses, and cereals are dry, hard, and small seeds that are harvested for animal or human consumption. This segment includes wheat; rice; coarse grains such as rye, barley, corn, oats, and sorghum; and pulses comprising dry beans, peas, chickpeas, and lentils. Food consumption continues to rise due to the population growth, changing diets, rise in disposable income, and increase in urbanization that has resulted in a rise in demand for ready-to-eat or convenience food products. This, in turn, is projected to drive the demand for grains, pulses, and cereals.

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420 – Tables
68 – Figures
384 – Pages

The processed grains, pulses, and cereals segment accounted for the largest market share of secondary processed bulk food ingredients market, nearly 28.9% in 2020

Processed grains, pulses, and cereals include flaked, broken, polished, or cracked whole ingredients. These are most widely used in the manufacturing of food products, such as snacks, ready or convenience food products, and infant formulas, as well as beverages, including alcohol. The global rise in consumption of breakfast cereals has led to an increase in the consumption of cereal flakes. The demand for processed grains, pulses, and cereals is projected to grow at the highest rate in the Asia Pacific region due to the constant rise in disposable income and changing eating habits. The high fiber and protein content of these ingredients makes them a healthy and ideal component for various food products.