Enriched Flour Market Global Research Report by Source (Cereals, Legumes and others), Application (Bakery & Confectionery, Beverages, Baby Food, Soups & Snacks, Prepared Meals and others), Enrichment (Vitamins, Minerals and others) and Region – Forecast till 2023
Pune, India -- (SBWIRE) -- 08/29/2018 -- Market Overview:
Enriched flour was introduced to the market in order to reload the nutrients in the flour and ensure that they remain intact, unlike white floor that often loses nutrients. Enriched flour is becoming popular among the consumers due to the increasing awareness of malnutrition among them.
Market Research Future (MRFR) has published a research report that infers a boost for the global enriched flour market with 7.22% CAGR (Compound Annual Growth Rate) between 2017 and 2023. In terms of cash, the market growth is expected to reach the US $ 109.62 bn by the end of the forecast period. The factors driving the growth of this market include changing lifestyle, growing consumption of ready-to-eat food products, and increased demand for enriched flour in bakery & confectionery.
The global enriched flour market has been segmented on the basis of application, enrichment, source, and lastly, region. The application based segmentation of this market covers baby food, bakery & confectionery, beverages, prepared meals, soups & snacks, and others. During the forecast period, bakery & confectionery segment has been estimated to be the fastest growing segment, and it is expected to dominate the market with a major market share of 35%. Soups and snacks segment is expected to be the second largest. Enriched flour is used in the soups & snacks products as an important ingredient. Bakery & confectionery segment is expected to witness the highest growth rate with 7.54% CAGR.
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Key Players Analysis:
The key players in the global enriched flour market include AGRANA Beteiligungs-AG (Austria), Archer Daniels Midland Company (USA), Associated British Foods PLC (UK), Bunge Limited (USA), Cargill Incorporated (USA), The Caremoli Group (Italy), General Mills, Inc. (the USA), The Hain Celestial Group, Inc. (USA), Ingredion Incorporated (USA), Knappen Milling Co (USA), Limagrain (France), Parrish and Heimbecker Limited (Canada), The Scoular Company (USA), SunOpta (Canada), and Unicorn Grain Specialties B.V. (The Netherlands).
Latest Industry News:
Abe's Vegan are launching their pound cakes in four different varieties namely, Ginger Spice, Original Pound Cake, Ultimate Lemon, and Coffee Cake. 29 JUL 2018
On the basis of enrichment, the market has been segmented into minerals, vitamins, and others. During the forecast period, vitamin segment is likely to dominate the market because enriched flour valued on the basis of the vitamin. Global demand for food & beverages rich in vitamins is growing at a high pace due to consumers adopting healthier lifestyles and food habits. Minerals segment is expected to grow with 7.43% CAGR during the forecast period.
The source-based segmentation of the market comprises of cereals, legumes, and others. During the forecast period, cereals segment is expected to have the lion's share in the market which is likely to be approximately 70.8%. However, legumes can emerge as the fastest growing segment with 7.55% CAGR during this period. Legumes have been segmented into beans, lentils, soy, and more. Among these, soy is gaining more traction among the manufacturers in legumes oriented market.
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The regional segmentation of the global enriched flour market segments the market into the regions namely North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa (MEA). Due to heavy food subsidization, advanced methods of farming, rapid advancements in the flour products, and rising health conscious habit among people, North America is likely to dominate the market. The biggest market in this region is the United States of America (USA), followed by Canada and Mexico.
In the Asia Pacific region, the consumption of enriched flour has been projected to witness a high growth of 7.86% during the forecast period due to increasing consumption of ready-to-eat food products. In this region, the biggest markets comprise of Australia, China, India, Japan, New Zealand, and ASEAN countries, followed by the rest of the Asia Pacific region. In Europe, the market is expected to grow steadily with maximum revenue coming from France, Germany, Italy, Spain, and the United Kingdom (UK), followed by the rest of Europe.