Cargill
Incorporated, Archer Daniels Midland Company, The Scoular Company,
Associated British Food Plc, SunOpta, Inc., and The Hain Celestial
Group, Inc. are some of the leading names operating in the global
functional flour market. Besides a diverse product portfolio, these
companies enjoy a strong global presence. Besides these and other
established players, the market also showcases the presence of many
regional players. Overall it is witnessing a highly competitive
business environment, finds Transparency Market Research (TMR) in a
new study.
Mergers
and acquisitions are common among the leading market players eyeing
to expand their product portfolio as well as regional footprint. The
companies operating the global
functional flour market is deriving growth from the growing
organic food market. While developed economies will remain at the
fore, the market players are looking towards exploring greener
pastures across emerging nations.
According
to TMR, the global functional flour market is expected to report a
CAGR of 6.8% between 2017 and 2025. At this pace, the market’s
valuation will reach US$126.8 bn by the end of 2025, from US$70.4 bn
in 2016. Based on type, pre-cooked flour, specialty flour, and
fortified flour constitute the key market segments. Of these,
fortified flour emerged dominant with a share of 41.03% in the global
market in 2016 and is expected to remain at the lead through the
forecast period.
Regionally,
North America led the global functional flour food market in 2016.
However, exhibiting the leading CAGR of 7.4% in terms of value, Asia
Pacific is forecast to emerge dominant by the end of 2025.
Opportunities
Prevalent in Emerging Markets to Facilitate Growth
Globally,
the demand for bakery products has increased at an exponential pace.
This is the prime factor aiding expansion of the functional flour
market. On account of changing consumer preference, bakery products
and R.T.E have become staple in many countries across North America
and Europe. “If not for this, the demand for functional flour would
exhibit rise on account of increasing opportunities in Asia Pacific,”
said a lead TMR analyst.
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TMR
has projected the Asia Pacific market to beat other regions in terms
of CAGR. Factors such as escalating population, rising disposable
income, and subsequent concerns towards eating healthy especially in
countries such as India, Japan, and China will create lucrative
opportunities for the market. Besides this, the demand for
gluten-free products is on a rise worldwide. This factor has
considerably facilitated the global functional flour market.
Irregularity
in Output Price of Crops Pose Threat
Despite
lucrative opportunities worldwide, price volatility of grains and low
margins have remained key challenges for the market. In the last few
years, pace of gains witnessed by the market decelerated in Europe as
consumers shifted towards industrial bakery and value-added processed
bakery. In addition, irregularity in the output price of crops is
limiting the scope for the market’s expansion. There has also been
variations in the cost of fertilizers, energy, and chemicals, which
had adverse influence on the overall market.
Nevertheless,
with the increasing non-food application of functional flour will
equipoise aforementioned challenges. “Wheat flour proteins exhibit
thermoplastic, viscoelastic, and adhesive properties, which make them
suitable for use in pressure-sensitive medical bandages,” observed
the TMR report’s author. Other uses of wheat flour are cosmetics,
edible films, and biodegradable resins. Such novel applications are
expected to fuel growth opportunities for the market in the
forthcoming years.
This
review is based on a TMR report, titled “Functional Flour Market
(Raw Materials - Wheat, Maize, and Rice; Type - Pre-Cooked Flour,
Specialty Flour, and Fortified Flour; Product Type - Conventional
Flour, Additive-based Flour, and Genetically Modified Flour;
Application - Bakery Products, Noodles & Pasta and Non-food
Applications) - Global Industry Analysis, Size, Share, Growth, Trends
and Forecast 2017 - 2025.”
The
report segments the global functional flour market as:
Global
Functional Flour Market: By Raw Materials
- Wheat
- Maize
- Rice
- Others
Global
Functional Flour Market: By Type
- Pre-Cooked Flour
- Specialty Flour
- Fortified Flour
Global
Functional Flour Market: By Product Type
- Conventional Flour
- Additive-Based Flour
- Genetically Modified Flour
Global
Functional Flour Market: By Application
- Bakery Products
- Noodles & Pasta
- Non-Food Application
- Others
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