The
global commercial flour market is majorly restrained by the price
volatility of grains affected due to changing climatic conditions
that hamper overall production. As competition intensifies in the
sector with price wars among leading players, industry players are
expected to improve the efficiency of their value chain, from inbound
logistics to distribution and, to a large extent, marketing and
export of products. Revenue generated from the global commercial
flour market valuated at US$ 44,008.3 Mn in 2017 and is expected to
increase at a CAGR of 2.2% over the forecast period 2017-2025,
reaching US$ 52,518.6 Mn by the end of 2025.
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Expanding
demand for gluten-free foods and increasing per capita food
consumption in developing countries are the primary drivers leading
the global commercial flour market during the forecast period. Rising
demand for convenience foods, innovation in packaging, and food
preferences of expanding young population are also expected to
provide traction to market growth in near future.
Rising
health concerns among people and increasing need for gluten-free
diets are facilitating the demand for commercial flour. As rice and
corn flour are naturally gluten-free products, consumers are expected
to sustain consumption of these two products in near future. People
in North America and Europe have been preferring pregelatinized flour
or gluten-free flour over others due to the rising health concerns.
Increasing sensitiveness for gluten-free flour, such as white rice
flour and corn flour, are driving the market and are being
increasingly used in flour-based products. Growing demand for these
products is influencing the growth of the flour market, and is
expected to continue over the estimated time period.
Besides
price volatility of grains due to uncertain climatic conditions,
there are some other restraints that are potentially restricting the
growth of the commercial
flour market. Irregularities in climate and seasonal
variations affect crops due to critical and uneven rainfall patterns.
A reduction in rainfall also adversely affects the agricultural
yields in many regions, which results in variations in input as well
as output prices. There have been variations in the cost of energy,
chemicals, and fertilizers. These fluctuations lead to a volatility
in the prices of crops. Increased volatility is the structural issue
for which players must find operational responses to secure margins
in the long term. In 2017, the prices of wheat was up nearly 6% due
to heavy rainfall in the Midwest region of the U.S.
Worldwide,
consumers are keenly looking out for healthier, improved,
easy-to-cook, and ready- to-eat foods due to the lack of time in
daily life. Baked products such as bread are consumed on a regular
basis in many regions, mainly in the U.S. Due to growing health and
diet concerns, and preference for healthy products, flour, mainly
rice and corn flour, are used in baked products, which are
gluten-free and healthier as compared to wheat flour. Baked products
and snacks such as cakes, pizzas, pastries, cookies, and other
products are gaining popularity among children and the younger
generation, which is likely to create further growth opportunities
for flour manufacturers. The U.S is projected to be a rapidly growing
market for baked products. Increasing disposable income and rising
popularity about flour-based product consumption are driving the
growth of the market. Thus, the demand for baked products is expected
to increase in the coming years, which will lead to a rise in
commercial flour utilization in different regions.
By
product type, the commercial flour market is segmented into wheat
flour, corn flour, rye flour, rice flour and others. The wheat flour
segment is likely to be the most attractive segment in the forecast
period on the backdrop of the rising consumer demands in wheat flour
related food. The wheat flour segment is estimated to account for a
significant revenue share of 92.2% in 2017 and is expected to
register significant growth rate during the forecast period. On the
basis of source type, the commercial flour market can be segmented
into organic and conventional type. The organic flour segment is
estimated to account for a significant revenue share increase of 1.1%
in 2017 and is expected to register significant growth rate during
the forecast period. Furthermore, on the basis of end use, the Flour
market is segmented into HORECA and food industry. The food industry
segments, the market is anticipated to occupy the largest market
share of 55.2% in 2017.
On
the basis of region, the markets in APAC and Europe are expected to
dominate over the forecast period, followed by North America. An
extensive consumer base has been developed in APAC for bakery
products. Europe is expected to become a prominent player by the end
of the forecast period with a significant CAGR attributed to
increasing per capita consumption of commercial flour in the region.
Some
of the major companies operating in the global commercial flour
market are Cargill Inc., ARDENT MILLS LLC, Archer Daniels Midland
Company, ConAgra Foods, Inc., General Mills, Inc., Riviana Foods Inc,
Bob's Red Mill Natural Foods, Inc., Bay State Milling Company,
Bartlett and Company, The Mennel Milling Company, Hodgson Mill, King
Arthur Flour Company, Inc, Ingredion Incorporated, Bunge Limited, The
Hain Celestial Group, Grain Craft, Inc, Miller Milling Company, The
White Lily Foods Company, Wheat Montana and North Dakota Mill.
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