The
global flour market has been prognosticated in a report by
Transparency Market Research (TMR) to carry fierce competition where
players could give their competitors a run for their money. The
competition could turn intense due to the presence of a telling count
of small and large companies operating in the market. Players are
expected to take bold steps to proactively enter new and promising
markets such as flavored flours and baking mixes with a view to cash
in on increasing consumer interest in easy-to-make food preparations.
The market has been marked by the presence of prominent players
including King Arthur Flour Company Inc., General Mills Inc., and ITC
Limited.
By
2020, the global flour market has been foreseen by TMR analysts to
bag a whopping US$254.82 bn. In terms of application, breads and
bakery products could account for a stupendous share of 37.77% by the
end of the same year. Regionally, Europe has been envisaged to take
control of a dominant share on the basis of revenue.
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Rise
of Fast Food Industry Fuels Demand, Helping Market to Gather Pace
Changing
consumer preference vis-à-vis food taste has been anticipated to
work in the favor of flour’s market growth in the coming years.
However, there could be other factors largely benefiting the world
flour market: rising per capita income, expanding global population,
and increasing dough consumption. The demand for flour has been
projected to gain impetus on the back of the expansion of the fast
food industry and rising consumption of bakery products.
Introduction
of new gluten-free flour options could be helped with snowballing
demand for high-protein flour
varieties. During the course of the forecast period, demand for soy,
corn, maize, and rice flours, and other gluten-free alternatives has
been prophesied to see a rise.
Variable
Costs of Few Types of Flour Slam down Growth to Some Extent
Cost
difference for some flour varieties observed in several regions of
the global market has been envisioned to curtail the rise in demand,
thus pressurizing players to find new ways to generate growth.
Nonetheless, launch of new product lines meeting consumer
expectations and vast developments in milling process could create a
slew of worthwhile opportunities in the market. Europe could act as a
breeding ground for growth owing to magnified popularity of
value-added bakery ingredients in its developed countries. Growth of
the Europe flour market has been forecasted to produce ample of
lucrative prospects riding on the rise in domestic wheat production
for bread preparation.
On
the other hand, Asia Pacific has been triggering a decent demand for
flour while taking advantage of growing fast food consumption,
increasing disposable income, rising expenditure on staple foods, and
expanding population base.
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