Market Trends of Bulk Food Ingredients Industry
Increased Demand for Convenience Foods
- The demand for convenient and prepared food products continues to grow, fueled by changing lifestyles and an increasingly busy working population. Consumers appreciate the reduced preparation time and easy handling that convenience foods offer. This trend has led to an increase in demand for bulk food ingredients among food manufacturers.
- Moreover, consumers are now more conscious of the ingredients used in their food products and are demanding clean labels and organic ingredients. Natural ingredients, such as organic spices, grains, and other raw materials, offer numerous benefits over synthetic ingredients, and market players are incorporating them into their food and beverage offerings. In July 2022, Sweegen Inc launched a line of Stevia-based sweeteners extracted from organic stevia that can be used in soft drinks and other products.
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Asia-Pacific is the Fastest Growing Region
- Due to urbanization, a growing working population, and the influence of Western culture, there has been an increase in consumer demand for processed food. Additionally, market growth is being driven by the increasing trend of vegan and non-genetically modified organism (GMO) foods.
- Plant-based products are particularly popular in Asian countries, leading to a growing demand for organic and non-GMO ingredients like grains, pulses, and cereals in the region. In addition, countries such as China, India, and Japan have a strong inclination toward tea consumption, and as a result, the demand for tea is increasing in the region.
- In September 2022, Dabur India entered the premium tea category with the introduction of a new product called Dabur Vedic Tea, which is a premium category of black tea that falls under the health supplements section of the market. Over the medium term, the market is expected.
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