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The functional flours market share is expected to increase by USD 25.45 billion from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 7.67%.
This functional flours market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers functional flours market segmentations by application (RTE products, bakery products, soups and sauces, and others) and geography (APAC, North America, Europe, MEA, and South America). The functional flours market report also offers information on several market vendors, including AGRANA Beteiligungs AG, Archer Daniels Midland Co., Ardent Mills LLC, Associated British Foods Plc, Bunge Ltd., Cargill Inc., General Mills Inc., Ingredion Inc., Parrish and Heimbecker Ltd., and The TradeLink International Group Ltd. among others.
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Based on our research output, there has been a positive impact on the market growth during and post COVID-19 era. The increased demand from ready-to-eat food product manufacturers is notably driving the functional flours market growth, although factors such as may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the functional flours industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Functional Flours Market Driver
The increased demand from ready-to-eat food product manufacturers is a major factor driving the global functional flours market share growth. Functional flours provide improved baking properties like less gluten formation, a higher amount of moisture, and others. A huge demand for functional flours is registered by ready-to-eat food manufacturers. The use of functional flours will improve the quality of baked goods due to their modified properties. Functional flours derived from rice and legumes are used in RTE food products. The demand is increasing due to the increased concern about gluten intolerance., especially from European RTE manufacturers. European consumers look for the convenience factor when purchasing RTE foods. This is mainly due to their busy schedules, because of which less time is spent cooking at home. Consumers seek convenience products that can be consumed with minimal or no preparation. The rising disposable income and increasing urbanization also drive the increased preference for RTE products in the Americas. The RTE food market in APAC is driven by the increasing demand for healthy and convenience food products. Considering the functional and nutritional benefits of functional flours, manufacturers started using functional flours over traditional flours. All such factors contribute towards the positive growth of the market.
Key Functional Flours Market Trend
New innovations in ingredients by using blends is another factor supporting the global functional flours market share growth. Manufacturers invest more time and effort to find ways to make flours more functional. It is found that incorporating blends of various functional flours with regular wheat flour can boost proteins and other nutritional benefits. Functional flours with blends of gluten-free flours are trending, as it enhances the sensory appeal and nutritional properties of gluten-free food items. Given these reasons, the product innovations in functional flours have spiked recently. Additionally, seed flour blends are gaining popularity in the market. As health consciousness is a major driving factor, functional flours using non-wheat grains, lower salt, sugar, higher fiber, gluten-free are the most in demand and, therefore, potential areas for innovations. Therefore, the market will grow significantly during the forecast period.
Key Functional Flours Market Challenge
The fluctuations in the availability of raw materials due to weather conditions and natural calamities will be a major challenge for the global functional flours market share growth. Raw materials used in the making of functional flours include grains and non-grains. Hence, the global functional flour market is highly dependent on the availability of grains and non-grains. The fluctuations in the availability of raw materials might impede market growth. Bad weather conditions reduce the production of crops. Different crops grow under different climatic conditions. Floods, droughts, and tropical storms affect the agriculture sector to a greater extent. Adverse climatic conditions affect global crop production. Such calamities result in the reduction of raw material supply and increase the price of the end-product. As crops get affected, the supply-demand gap widens. It gives rise to price fluctuations. The rise in the price of raw materials increases the manufacturing cost and leads to reduced profit margins for manufacturers. This, along with the need to remain competitive in the market, influences market players to experiment with cheaper substitutes. Therefore, the market will grow positively during the forecast period.
This functional flours market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.
Technavio categorizes the global functional flours market as a part of the global packaged foods and meats market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the functional flours market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the functional flours market encompasses successful business strategies deployed by the key vendors. The functional flours market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The functional flours market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the functional flours market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of global packaged foods and meats market includes the following core components:
The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
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33% of the market's growth will originate from APAC during the forecast period. China and India are the key markets for functional flours market in APAC. Market growth in this region will be faster than the growth of the market in regions.
Factors such as the rapidly growing food processing industry, increased demand for RTE food products, and the increase in population will facilitate the functional flours market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
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The functional flours market share growth by the RTE products segment will be significant during the forecast period. The outbreak of COVID-19 had a positive impact on the RTE products market in 2020. Before the pandemic, RTE food was considered comfort food by consumers. However, the pandemic has changed people's preferences for functional flours in their diet, and they have shifted toward healthy RTE foods. Hence, this pandemic has increased the demand for RTE food. This is expected to drive the growth of the functional flours market during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the functional flours market size and actionable market insights on post COVID-19 impact on each segment.
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Functional Flours Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2020 |
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Forecast period |
2021-2025 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 7.67% |
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Market growth 2021-2025 |
$ 25.45 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
6.89 |
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Regional analysis |
APAC, North America, Europe, MEA, and South America |
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Performing market contribution |
APAC at 33% |
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Key consumer countries |
US, China, India, Germany, and UK |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
AGRANA Beteiligungs AG, Archer Daniels Midland Co., Ardent Mills LLC, Associated British Foods Plc, Bunge Ltd., Cargill Inc., General Mills Inc., Ingredion Inc., Parrish and Heimbecker Ltd., and The TradeLink International Group Ltd. |
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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, Market condition analysis for forecast period |
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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. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Application
6 Customer landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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