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The flour market size is estimated to grow at a CAGR of 4.51% between 2022 and 2027. The market size is forecast to increase by USD 40,926.8 million. This flour market report extensively covers market segmentation by type (wheat, maize/corn, and rice), application (bakery products, noodles, and pasta, biscuits/waffles/wafers, and animal feed and others), and geography (APAC, Europe, North America, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Our report examines historic data from 2017 to 2021, besides analyzing the current market scenario.
One of the key factors driving the flour market growth is the growing demand for bakery items. Several factors such as the expansion of the global urban population, rising demand for on-the-go snacks, and increasing purchasing power parity of the population in emerging countries such as China and India. are significantly contributing to the growth of the global flour market. Additionally, there is a significant shift in the lifestyles and nutrition patterns of consumers. There is an increasing investment in baking ingredients in emerging countries such as South America and APAC. Hence, such factors are expected to positively impact the market which in turn will drive the global flour market during the forecast period.
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A key factor shaping the flour market growth is the increasing demand for organic and gluten-free bakery products. There is an increasing preference for organic and health products among consumers in the global bakery industry due to their numerous benefits. Some of these ingredients include aluminum-free baking powder, gluten-free flour, and organic baking flour.
Moreover, the increasing demand for organic bakery products despite the high cost of manufacturing and raw materials is driven by health-conscious customers. As a result, it has resulted in a rise in demand for organic and gluten-free bakery products as per the different needs of consumers. Hence, such factors are positively impacting the market. Therefore it is expected to drive the market growth during the forecast period.
High manufacturing and production costs associated with the fermentation process of wheat flour are one of the key challenges hindering the flour market growth. There is an increasing adoption of fermented wheat flour in several baked goods due to its high fiber and nutritional contents, but its cost of manufacturing and production is high which can be a challenge for many businesses. In addition, the unique flavor and nutrients also add to the overall cost.
Moreover, the time required for the fermentation process is one of the main costs associated with the production of fermented wheat flour. The process is time-consuming depending on the desired outcome. Hence, such factors are negatively impacting the market which in turn will hinder the market growth during the forecast period.
The increasing demand for convenience food is fuelling the bakery product segment which will increase the market growth. the bakery product segment comprises bread, rolls, cookies, pies, pastries, and muffins, among others. The majority of the products under this segment are manufactured using flour or some form of grain. There is an increasing demand for convenience food products among consumers which is fuelling the growth of this segment. Furthermore, there are several new product launches that caters to different consumer taste and preference also significantly contributing to the growth of this segment. Hence, such factors are fuelling the growth of this segment which in turn will drive the market growth during the forecast period.
The wheat segment is estimated to witness significant growth during the forecast period. One of the essential ingredients in baking is wheat which offers g structure, texture, and flavor to a wide variety of baked goods. The increasing consumption of baked goods across the world is significantly contributing to the growth of this segment.
The wheat segment was the largest segment and was valued at USD 120,965.32 million in 2017.
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In addition, bread, cakes, pastries, and other bakery products have become staples in several diets and cultures which is increasing the demand for flour. Furthermore, there is an increasing popularity for home-baking among consumers which is fuelling the demand for wheat flour. Additionally, the launch of fermented and organic wheat flour is fuelling demand for wheat flour among health-conscious consumers. Hence, several factors such as growing consumption of baked goods, product diversification, increasing demand for specialty flour, sustainability concerns, and the convenience of online purchasing are fuelling the growth of this segment which in turn will drive the market growth during the forecast period.
APAC is estimated to contribute 45% to the growth of the global market during the forecast period.
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Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Some of the main factors that are significantly contributing to the growth of the global flour market in APAC include growing health concerns, rapidly rising disposable income, and predominant demand for on-the-go breakfast items and convenient food products. Additionally, several consumers in the region are constantly seeking food products that contain low-sugar and low-calorie content. Furthermore, several market players are launching new products and expanding their product portfolios in order to cater to different consumer tastes and preferences. Some of the main countries that are significantly contributing to the growth of the market in APAC include China, India, the Philippines, Thailand, and Vietnam. Hence, such factors are expected to drive the market growth in the region during the forecast period.
In 2020, during the COVID-19 pandemic, the growth of the global flour treatment market witnessed a significant slowdown due to a shortage of various raw materials and the temporary closure of retail stores in APAC. However, in 2021, the initiation of large-scale vaccination drives?lifted the lockdown and travel restrictions, which led to the restoration of operations in restaurants and bakery units. Such factors are expected to drive the market during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The flour market report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The flour market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Flour Market Scope |
|
Report Coverage |
Details |
Page number |
161 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.51% |
Market growth 2023-2027 |
USD 40,926.8 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
4.25 |
Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
Performing market contribution |
APAC at 45% |
Key countries |
US, China, India, Germany, and France |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Archer Daniels Midland Co., Ardent Mills LLC, Associated British Foods Plc, Bay State Milling Co., Bunge Ltd., Burapa Prosper Co. Ltd., Cargill Inc., General Mills Inc., GrainCorp Ltd., Hodgson Mill, ITC Ltd., King Arthur Baking Co. Inc., Lieng Tong Rice Vermicelli Co. Ltd., Manildra Flour Mills Pty. Ltd., Parrish and Heimbecker Ltd., PT Sriboga Raturaya, Savage Services Corp., Thai Flour Industry Co. Ltd., Thai Wah Public Co. Ltd., and Wilmar International Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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