Flour Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020
Albany, NY -- (SBWIRE) -- 09/21/2017 -- Some of the prominent players in the global flour market are King Arthur Flour Company Inc., ITC Limited., Hodgson Mill, General Mills Inc., Hindustan Unilever Limited, ConAgra Foods Inc., Associated British Foods plc, Ardent Mills Canada, and Archer Daniels Midland Company. Several companies are offering products made with a unique baking mix and containing a variety of flavors. Leading companies are also focusing on emerging regions such as Asia Pacific and the Middle East and Africa to consolidate their market presence, observes Transparency Market Research (TMR). In some regional markets, the landscape is fairly competitive on account of domestic players who are offering locally milled flour with competitive pricing.
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The global flour market is projected to rise at a positive single-digit CAGR from 2014 to 2020. The market is expected to witness substantial opportunities from the rapidly growing demand for bakery products among a variety of consumers and the increasing uptake of fast food products in various populations world over.
Of all the regional markets for flour, Europe is, currently, the major contributor of revenue and is projected to lead throughout the forecast period. The dominance of this regional market is attributed to the substantial per capita consumption of various flour types. The growth of the Europe market is expected to be fueled by the increasing production of wheat to meet the burgeoning demand for bread in several nations. Based on technology, the market is bifurcated into wet and dry milling. Of these, the dry milling technology for flour is projected to hold a lion's share of the overall revenue and is expected to rise at an impressive pace. The growth of the segment is propelled by its extensive demand, attributed to the simplicity of the process.
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Extensive consumption of Bakery Products to Bolster Uptake
The global flour market is primarily propelled by the rising consumption of flour and bakery products in various regions. The rapidly growing demand for fast food products in restaurants, cafes, and food chains in various developing and developed nations is bolstering the demand for flour milling. The rising demand for flour confections is expected to boost the market, especially in developing regions. Furthermore, the burgeoning flour milling industry in several emerging regions is anticipated to accentuate the market through the forecast period.
The market is expected to benefit from a growing demand for bakery products with nutritional benefits and containing unique flavors. In addition, the decrease in flour prices in some regions and the development of a large number of flour mills in several developing nations is a key factor boosting the market.
The advent of baking mix lines by players in developed markets and a vast growth of operations of local mills are crucial trends expected to catalyze the growth of the flour market. The growing expenditure on staple food is a key factor expected to accentuate the market. To meet a burgeoning demand for flour, there is a substantial increase in the production of wheat in some regions. In addition, the growing demand for noodles and breads in various regions is expected to bolster the uptake.
Recent Advancements in Milling Process Bode Well for Market
The variability of the prices of some of the flour types in international markets and the rising popularity of gluten-free foods in health conscious populations are the key factors likely to negatively affect the growth of the market. On the other hand, advancement in milling process has led to the production of gluten-free bakeries and an innovative line of baking mix. In addition, the rising prominence of the value-added processed bakery industry in developed regions, particularly in parts of Europe, is expected to open lucrative growth avenues for market players.
The growing demand for flour confections with a variety of flavors is likely to open up exciting opportunities for market players. In addition, the substantial demand for wafers and biscuits in some populations is predicted to boost the market. Furthermore, the increasing acceptance of non-gelatinized flour in the making of processed food is expected to open up promising avenues for market players.