The new report by Expert Market Research titled, ‘Global Flour Market Report and Forecast 2022-2027’, gives an in-depth analysis of the global flour market, assessing the market based on its segments like types, forms, applications, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2017-2027)
- Historical Market Size (2021): USD 258.97 billion
- Forecast CAGR (2022-2027): 60%
- Forecast Market Size (2027): USD 18 billion
Flour is an essential ingredient used for making different breads, which are consumed as staples in many countries of the world. This is a major factor augmenting the growth of the market. In addition to this, the rapidly expanding global population and the subsequent requirement for food is leading to increased government expenditure to enhance the production of wheat, which is the raw material for flour. This is expected to spur the overall growth of the market in the coming years. Furthermore, flour is used as an active ingredient in the formation of burger buns, pasta, pizza base, and several bakery products including donuts and cakes. All these factors are projected to invigorate the market growth of flour globally.
Industry Definition and Segmentations
Flour essentially refers to a powder obtained from grinding grains, particularly wheat, which is then used to make food products, such as breads, cakes, and pastries, among others. Currently, wheat represents one of the most popular food ingredients used around the world.
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On the basis of type, the market can be divided into:
- Wheat
- Maize
- Rice
- Oats
- Others
The market, based on form, can be segmented into:
- Wet
- Dry
Based on application, the market can be categorised into:
- Food Application
- Animal Feed
- Non-Food Application
- Others
The regional markets for the product include:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Market Trends
The inflating per capita incomes, focus on healthy eating habits, and the shifting consumer tastes have propelled innovations in the manufacturing process of flours, which is estimated to support the market growth. In this regard, the rising prevalence of gluten intolerance is leading to the introduction of gluten free flour, such as rice flour, soy flour, and maize flour, among others, which is estimated to support the market growth. In addition, the market growth can further be associated with the rising health awareness among consumers, which is leading to the production of flour with high protein content and vitamin-A fortified wheat flour. This is expected to expand the overall growth of the market in the forecast period.
Key Market Players
The major players in the market are Archer Daniels Midland Company, Ardent Mills LLC, ABF Grain Products Limited (Allied Bakeries), and General Mills, Inc., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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