Global
Flour Market: Snapshot
Flour
consumption is witnessing a steady growth across the globe owing to
the rising demand for bakery and fast food products among different
classes of consumers. The increasing number of cafes and fast food
restaurants worldwide is driving the flour market. Moreover, the
development of flour milling industry in the developing regions such
as Asia Pacific and the Middle East and Africa is working in favor of
the growth of the market. The growing population and decreasing flour
prices along with the establishment of new flour mills are supporting
the demand for flour in these regions, which in turn is fuelling the
overall market.
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However,
the market is adversely affected by the rising awareness regarding
the health hazards of gluten. Due to high gluten content in wheat
flour, consumers are shifting to its substitutes. The opportunity in
the global flour market was pegged at US$198.57 bn in 2015 and is
poised to reach US$254.82 bn by 2020, rising at a CAGR of 4.3% from
2014 to 2020.
Growing
Uptake of Bread-based Fast Foods to Fuel Growth of Bread and Bakery
Products Segment
Based
on application, the bread and bakery products segment will continue
to dominate until 2020, accounting for 37.77% of the overall market
revenue. The increasing consumption of bread-based fast foods in
emerging countries is augmenting the growth of the segment. The
rising health awareness among people in different countries is
leading to the increased demand for gluten-free brown bread flours,
thereby contributing to the growth of the segment. On the other hand,
the non-food application segment is anticipated to expand at a CAGR
higher than any other segment during the forecast period.
On
the basis of technology, dry milling will continue to command the
leading share, representing 92.90% of the overall market revenue.
Wide applications of dry technology among flour millers is driven by
multiple factors, including less complex milling process, low-cost
advantage, and compatibility with wheat flour milling process. The
growing acceptance of non-gelatinized flour is also driving the
adoption of dry technology among flour millers globally. The wet
drilling technology will expand at a CAGR of 6.4% during the same
period.
Europe
to Lead Revenue Generation through 2020 Owing to Evolution of
Value-added Processed Bakery Industry
While
Europe will be the dominant regional market in terms of revenue
throughout the forecast period, Asia Pacific will continue to be the
leading volume contributor. In countries such as the U.K. and
Germany, increase in domestic production of wheat for making bread
has triggered the growth of the flour
market in Europe. Evolution of the value-added processed
bakery industry in the Netherlands, Italy, Germany and France among
others is estimated to drive future growth of the region.
In
Asia Pacific, the flour consumption is driven by the growing
population, increasing consumer expenditure on staple food, rising
disposable income, and the growing demand for fast food. Moreover,
the increasing consumption of flour based noodles, breads, and other
products is providing significant boost to the growth of the region.
The Rest of the World market for flour is expected to exhibit a CAGR
of 5.2% during the same period. The development of the retail bakery
market in the Middle East is assisting the growth of the market.
Moreover, the increasing wheat planting in Chile and other Latin
American countries is leading to the rise in domestic wheat flour
production output in this region.
Some
of the leading players in the market are Archer Daniels Midland
Company, Ardent Mills Canada, Associated British Foods plc, ConAgra
Foods Inc., Hindustan Unilever Limited, General Mills Inc, Hodgson
Mill., ITC Limited., White Wings, King Arthur Flour Company Inc., and
Wilmar International Limited.
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