Asia Pacific Bulk Food Ingredients Market size was worth USD 130.84 billion in 2022 and estimated to be growing at a CAGR of 5.2%, to reach $167.78 billion by 2028. Asia-Pacific is the leading market in terms of both volume and value in the year 2016 owing to increasing disposable income and growing population in this region.
The product is mainly used to deliver improved and long preservation time for ready to eat products, treated food, fried foods, and bakery & confectioneries. The trend of bulk food ingredients has changed the overall market structure in the Asia-Pacific region, people from all age groups are consuming these products.
There is an increasing demand for bulk foods and growing consumer consciousness of health and fitness in the Asia Pacific region, which is anticipated to increase the demand and successively drive market growth over the forecast period. Some other factors fuelling the growth of the bulk food ingredients market in the Asia Pacific include an increase in population, altering lifestyle patterns, and growing urbanization. Lack of awareness among consumers in this region is likely to obstruct the growth of the bulk food ingredients market.
The research done takes place in two phases namely-
Secondary Research The first phase of the research process is extensive secondary research and identification of the related intelligence. Secondary data is compiled from various sources. Extensive secondary research helps in generating hypotheses and identifying critical areas of interest that are investigated through primary research.
Primary Research This entails conducting hundreds of primary interviews with industry participants and commentators in order to validate the data points obtained from secondary research and to fill the data gaps. A primary interview provides first-hand information on the market size, market trends, growth trends, competitive landscape, future outlook, etc. It also helps in deciding the scope and deliverables of the study in terms of the requirement of the market. Primary research involves e-mail interactions, telephonic interviews as well as face-to-face interviews for each market, category, segment, and sub-segment across geographies.
The Asia-pacific market for bulk food ingredients is divided by type into Primarily processed food and Secondary processed food. Primarily processed food is mainly bifurcated into Grains & Seeds, Herbs & Spices, Sugar, Salt, Oilseeds, Nuts, and Others. Secondary processed food is segmented into Dry Fruits & Nuts, Grains & Seeds, Flour, Herbs & Spices, Sugar and Salt. Based on application bulk food ingredients market is segregated as Ready Meals, Bakery Products, Confectionery Products, and Snacks & Spreads. Herbs & Spices segment is estimated to grow at the highest CAGR during the forecast period due to the growing demand for healthy products among customers.
Geographically the market is segmented into China, India, Japan, South Korea, and Australia. China and India are anticipated to grow fast due to an increase in population in these countries.
Key Players in the Market:
The leading companies in the Asia Pacific Bulk Food Ingredients Industry are
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