Some
of the prominent players in the global flour market are King Arthur
Flour Company Inc., ITC Limited., Hodgson Mill, General Mills Inc.,
Hindustan Unilever Limited, ConAgra Foods Inc., Associated British
Foods plc, Ardent Mills Canada, and Archer Daniels Midland Company.
Several companies are offering products made with a unique baking mix
and containing a variety of flavors. Leading companies are also
focusing on emerging regions such as Asia Pacific and the Middle East
and Africa to consolidate their market presence, observes
Transparency Market Research (TMR). In some regional markets, the
landscape is fairly competitive on account of domestic players who
are offering locally milled flour with competitive pricing.
The
global
flour market is projected to rise at a positive single-digit
CAGR from 2014 to 2020. The market is expected to witness substantial
opportunities from the rapidly growing demand for bakery products
among a variety of consumers and the increasing uptake of fast food
products in various populations world over.
Of
all the regional markets for flour, Europe is, currently, the major
contributor of revenue and is projected to lead throughout the
forecast period. The dominance of this regional market is attributed
to the substantial per capita consumption of various flour types. The
growth of the Europe market is expected to be fueled by the
increasing production of wheat to meet the burgeoning demand for
bread in several nations. Based on technology, the market is
bifurcated into wet and dry milling. Of these, the dry milling
technology for flour is projected to hold a lion’s share of the
overall revenue and is expected to rise at an impressive pace. The
growth of the segment is propelled by its extensive demand,
attributed to the simplicity of the process.
Extensive
consumption of Bakery Products to Bolster Uptake
The
global flour market is primarily propelled by the rising consumption
of flour and bakery products in various regions. The rapidly growing
demand for fast food products in restaurants, cafes, and food chains
in various developing and developed nations is bolstering the demand
for flour milling. The rising demand for flour confections is
expected to boost the market, especially in developing regions.
Furthermore, the burgeoning flour milling industry in several
emerging regions is anticipated to accentuate the market through the
forecast period.
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The
market is expected to benefit from a growing demand for bakery
products with nutritional benefits and containing unique flavors. In
addition, the decrease in flour prices in some regions and the
development of a large number of flour mills in several developing
nations is a key factor boosting the market.
The
advent of baking mix lines by players in developed markets and a vast
growth of operations of local mills are crucial trends expected to
catalyze the growth of the flour market. The growing expenditure on
staple food is a key factor expected to accentuate the market. To
meet a burgeoning demand for flour, there is a substantial increase
in the production of wheat in some regions. In addition, the growing
demand for noodles and breads in various regions is expected to
bolster the uptake.
Recent
Advancements in Milling Process Bode Well for Market
The
variability of the prices of some of the flour types in international
markets and the rising popularity of gluten-free foods in health
conscious populations are the key factors likely to negatively affect
the growth of the market. On the other hand, advancement in milling
process has led to the production of gluten-free bakeries and an
innovative line of baking mix. In addition, the rising prominence of
the value-added processed bakery industry in developed regions,
particularly in parts of Europe, is expected to open lucrative growth
avenues for market players.
The
growing demand for flour confections with a variety of flavors is
likely to open up exciting opportunities for market players. In
addition, the substantial demand for wafers and biscuits in some
populations is predicted to boost the market. Furthermore, the
increasing acceptance of non-gelatinized flour in the making of
processed food is expected to open up promising avenues for market
players.
The
study presented here is based on a report by Transparency Market
Research (TMR) titled “Flour Market (Raw Material - Maize, Rice,
Wheat, Oat Flour, and Rye Flour; Application - Noodles and Pasta,
Bread and Bakery Products, Wafers, Crackers and Biscuits, Animal
Feed, Baby Food, and Non-Food Application (Bioplastics, Biomaterials,
and Glue); Technology - Dry and Wet Technology) - Global Industry
Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020.”
The
global flour market is segmented based on:
Raw
Material
- Maize (Including corn flour)
- Rice
- Wheat (Including durum flour)
- Oat Flour
- Rye Flour
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