Global Functional Flour Market: Snapshot
The global functional flour market is progressing at a healthy clip on the back of increasing consumption of health-benefitting foods. Consumers worldwide are striving to adopt a combination of grains, cereals, lentils in their everyday food for essential nutrients. In addition, increasing gluten allergies is stoking demand for non-wheat based flour. This is stoking demand for functional flours that are composed of soy flour, rye flour, and oat flour among others. Rising consumer spending on ready-to-eat bakery items available in multigrain variants is aiding the growth of functional flour market.
On the downside, factors such as price volatility of grains affecting profit margins of market players and stringent food label registrations especially in developed nations are challenging this market’s growth.
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Vis-à-vis revenue, the global functional flour market is projected to expand at a CAGR of 6.8% between 2017 and 2025, as per estimates of a market intelligence study by Transparency Market Research.
Wheat Raw Material Segment to Continue to Stay at Fore
The global functional flour market is studied on the basis of a few parameters, viz. raw material, type, product, application, and region. By raw material, wheat, maize, rice, and others are the segments into which the functional flour market is divided. Of them, wheat held dominance in the functional flour market in the recent past; the segment is likely to hold to its dominant position in the upcoming years. In absolute numbers, wheat segment is anticipated to be worth US$51,457.5 mn by the end of 2025. This is mainly because wheat continues to remain the base flour for most functional flours. Maize, on the other hand, is anticipated to continue to remain a key significant in the years ahead.
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Depending upon type, pre-cooked flour, specialty flour, and fortified flour are the segments into which the functional flour market is divided. Vis-à-vis volume, fortified flour held the dominating 41.28% share in the overall market in 2016; going forward, the segment is likely to retain leading market share. The rising demand for ready-to-eat foods available in multigrain and healthy variants is boosting the growth of fortified type segment. Pre-cooked flour segment holds prominence in the functional flour market.
Depending upon product type, additive based flour, conventional flour, and genetically modified flour are the segments into which the global functional flour market is divided in this report. Aming these, genetically modified flour led the functional flour market in 2016, and is predicted to retain its dominant position until 2025. In terms of volume, genetically modified segment is likely to reach 30,797.1 kilo tons by the end of 2025.
Additive based flours is the most attractive product type segment in the functional flour market. This is because additive based flour are produced by combining legumes that are loaded with nutrients and display water retention properties.
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North America to Witness Declined Share through 2025
Application-wise, bakery products, noodles and pasta, non-food applications, and other are the segments into which the functional flour market is divided. Of them, bakery products hold the leading share in the functional flour market. Going forward too, the segment is anticipated to lead expanding at a CAGR of 6.9% between 2017 and 2025.
In terms of geography, the report takes tock of the potential of demand in North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Currently, North America is the leading regional market for functional flour. Being a mature market, the region, is anticipated to display declined market share by the end of 2025.
Key companies that have significant presence in the global functional flour market include Cargill Incorporated, SunOpta Inc., The Scoular Company, The Hain Celestial Group Inc., Archer Daniels Midland Company, Associated British Foods plc,., General Mills Inc., Parrish and Heimbecker Limited, Con Agra Foods Inc., and ITC Limited.
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