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.
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.
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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.
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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