Flour Market Size, Status, Industry Players, Growth Opportunities and Forecast until the end 2028
The global flour market is expected to rise in the near future with the continuous increase in applications and the introduction of innovative products.
[UKPRwire, Mon Jul 22 2019] The robustly growing world population is creating a huge demand in the food and beverage sector. There is increasing demand for processed food due to the growing urban population as well as an increase in the working population across the globe. Cereal-based foods are a staple food for the majority of the population across the world. These foods are made from grains like wheat, rice, maize, barley, sorghum, millet, etc. Most products containing cereals are made from grain flour. Flour is nothing but the powder made by grinding grains, and is used to make a variety of food products. Flour is used to make products like bread, which is a staple in many regions. Wheat flour is an important ingredient in the diet of European, Indian, North American, Middle Eastern, South American, and some African cultures. With an increase in demand and the introduction of newer products made of flour from various grains, the Flour Market is expected to rise during the forecast period.
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The global flour market is expected to rise in the near future with the continuous increase in applications and the introduction of innovative products. The rise in the consumption of fast food, continuous increase in global population, and increased spending on food due to rise in per capita income are some of the major drivers of the global flour market. The increase in consumption of ready-to-consume food and bakery products, shift in the taste of the millennial generation, and increased tendency to try new food products are some secondary factors that are driving the flour market. There is an increasing demand for fortified and healthy food products, with increased value especially from developed countries, thus leading to a rise in the demand for value-added flours. The introduction of gluten-free products has boosted the flour market among the gluten intolerant and rising number of health concerned consumers. The rise in the demand for gluten-free products has increased the demand for rice, soy, corn, and maize flours. The introduction of flour with high protein content is catching the eyes of consumers. The launch of flour with various and diverse flavors and their innovation in the bakery and food industries are snowballing the global flour market. The increasing use of roux and baby food has boosted the fortified flour market in recent years. An increasing number of people with pets has increased the pet food industry, ultimately having a positive impact on the flour market. Some of the non-food-based applications of flour, like bio-plastic and glue production are also stimulating the global flour market. Thus, with increasing demand and a variety of applications, the global flour market is expected to increase positively in terms of value and volume during the forecast period.
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Global Flour Market Key Players
Some of the key players in the global flour market are King Arthur Flour Company Inc., Hindustan Unilever, Cargill, ConAgra Foods, Archer Daniels Midland Co., Ardent Mills, General Mills, Hodgson Mills, Grain Millers Inc., Interflour Group Pte Ltd., and Grain Craft. More companies are taking interest in investing in the flour market for greater opportunities.
Opportunities for Market Participants
The global flour market is rapidly growing with a large number of opportunities for market participants. The increased demand for flour with new and tastier as well as healthier aspects has forced manufacturers into investing in R&D and launching new products. The increasing and popular 'move to organic' trend has created opportunities for manufacturers to produce organic products and boost demand. The introduction of e-Commerce has boosted sales and created opportunities for new players in the flour market to directly reach consumers.
Global Flour Market Regional Outlook
Asia Pacific is expected to dominate the flour market during the forecast period. There is triggering demand for flour and its products with an increasing population base, rising consumption of bakery and fast food, and increasing urbanization and disposable income. The European region is supposed to have lucrative opportunities in the flour market during the forecast period with the rise in production of grains, especially wheat, as well as an increase in the consumption of bread and bakery products. North America is a mature market in processed foods, and is expected to grow at a steady rate.
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