The
global functional flour market has been anticipated to witness
diversity in product portfolios and strong presence of players
worldwide during the course of the forecast tenure 2017-2025.
Transparency Market Research (TMR) has profiled some of the leading
names in the industry, including ITC Limited, ConAgra Foods, Inc.,
Parrish and Heimbecker, Limited, General Mills Inc., and The Hain
Celestial Group, Inc. A TMR report has predicted the competitive
landscape to be highly aggressive with both regional and global
players looking to make the cut in the market.
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By
the closure of the forecast tenure, the global functional flour
market has been foreseen by TMR to bag a revenue of close to a
US$126.8 bn while growing at a 6.8% CAGR. In 2016, it had arrived at
a revenue valuation of around US$70.4 bn. By raw material, wheat has
been expected to account for a superior share of the market,
considering its 40.49% share attained in 2016. In the same year,
North America had secured earnings of up to a US$21.9 bn, which could
be an indication of its dominance throughout the forecast tenure.
Changing
Consumer Preferences for Staple Foods Fortify Growth
The
burgeoning increase in the demand for bakery food products has been
foretold to set the tone for an upscale growth of the world
functional flour market. While this could be a major growth factor
for the market, shifting consumer preferences in terms of staple
foods have been projected to significantly improve the demand for
functional flour. Bakery and ready-to-eat (RTE) foods are considered
primary in North America and Europe. However, the growth in these
developed regions alone may not decide the fate of the market because
Asia Pacific has been prognosticated to turn the tables around with
its higher CAGR.
Multiplying
population growth, spiraling disposable income of consumers, and
increasing acceptance of healthy food habits could be among the
dominant factors augmenting the demand for functional flour in India,
Japan, and China. The global increase in the production of
gluten-free food products could be another reason for the growth in
the world market for functional flour.
Unevenness
in Output Prices of Crops Causes Demand to Diminish
In
the foreseeable future, the rise in the demand for functional
flour has been envisaged to slump because of the unstable
pricing of food grains and low profit margins in the industry.
Differences in fertilizer, energy, and chemical prices could have
adverse effects on the growth of the international functional flour
market. Roughness in the output prices of crops has been envisioned
to shorten market expansion in the coming years.
Nonetheless,
the rise in the count of non-food applications could help negate the
challenges that the international functional four market has been
forecast to face in the near future. The thermoplastic, viscoelastic,
and adhesive nature of wheat flour proteins could help them to track
down important applications in pressure-sensitive medical badges.
More applications have been prophesied to take shape in the wheat
flour market, including cosmetics, edible films, and biodegradable
resins.
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