Global Flour Market Size To Grow At A CAGR Of 4.60% In The Forecast Period Of 2023-2028
The ‘Global Flour Market Size, Share, Analysis, Growth, Trends, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global flour market, assessing the market on the basis of its segments like type, form, applications, and major regions.
The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
Flour Market Size, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
• Historical Market Size (2021): USD 258.97 billion
• Forecast CAGR (2023-2028): 4.60%
• Forecast Market Size (2027): USD 339.18 billion
With the growing population across the globe, the demand for the flour market is expected to increase in the food and beverage industry over the forecast period. The surging demand for processed food is likely to drive the market growth of flour owing to the rapid urbanisation coupled with an upsurge in the working population and changing lifestyles across the globe.
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Flour is an exceptional source of vitamins, protein, fibre, and complex carbohydrates and is low in fat as well as cholesterol. This is likely to support the market growth of flour and is likely to boost the demand among consumers over the coming years globally.
The health benefits offered by flour are further expected to push forward the flour market growth among consumers. For instance, flour supports heart health, helps to decrease cancer risk, reduces the risk of depression, and is expected to improve the diet of people with alcohol use disorder (AUD) which is positively influencing the market demand among consumers.
The rising demand for healthy and fortified food products especially in emerging economies is likely to increase the demand for flour. The growing consciousness of gluten-free products among consumers is expected to spur the demand for gluten-free flour.
Flour Industry Definition and Major Segments
Flour is a fine or grainy powder made from the grounding of cereal gains, or the grounding of the starchy portions of other plants. There are various types of flours depending upon the source material, and they are utilised in several food products and are also a key ingredient of baked goods. Flour produced from the grounding of wheat grains is the most commonly used type to bake items that need a spongy texture.
By type, the market is segmented into:
By form, the market is divided into:
By application, the market is classified into:
• Food Application
• Animal Feed
• Non-Food Application
Based on region, the market is divided into:
• North America
• Latin America
• Asia Pacific
• Middle East and Africa
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Flour Market Trends
The global flour market is expected to witness significant growth during the forecast period on account of the increasing investments in research and development by manufacturers for tastier and new products. The popularity of the ‘move to organic’ trend is likely to generate various opportunities for producers to manufacture organic products which are further expected to fuel the market growth of flour across the globe. With the emergence e-commerce industry, market sales as well as opportunities for new players, are likely to enhance over the coming years.
Geographically, the Asia Pacific region is expected to gain momentum in the flour market share over the upcoming years. This is due to the increasing awareness regarding the benefits of flour among consumers along with the rising disposable income.
The surging commercial farmlands coupled with the rise in the aquatic feed industry across the region are further expected to aid the market growth in the Asia Pacific. Moreover, the high presence of the market players in the region and high production along with companies offering innovative products are likely to positively influence the market growth in the region over the coming years.
Key Market Players
The major players in the global flour market report are:
- Archer Daniels Midland Company
- Ardent Mills LLC
- ABF Grain Products Limited (Allied Bakeries)
- General Mills, Inc
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators.
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