Northbrook, IL -- (SBWIRE) -- 09/26/2019 -- The report "Functional Flours Market by Type (Pre-cooked Flour, Specialty Flour), Application (Bakery, Soups & Sauces, R.T.E Products), Source (Cereals and Legumes), and Region (North America, Europe, Asia-Pacific, Rest of the World) - Global Forecast to 2022", The market for functional flours is projected to reach USD 78.00 Billion by 2022, growing at a CAGR of 7.82% from 2016, in terms of value, and 156.92 MT in terms of volume by 2022.
Browse 74 market data tables and 51 figures spread through 141 pages and in-depth TOC on "Functional Flours Market - Global Forecast to 2022"
The functional flours market is driven by the rise in consumption of processed and packaged food products in developed and developing countries. The increase in demand for premium food products, growth in consumption of convenience and healthy food products, and intensification of the global trade of functional flours are the factors driving the demand for functional flours.
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Legume segment is growing at the highest CAGR in the functional flours market
On the basis of source, the functional flours market is segmented into cereal and legume. The legume-based flours have different content levels of starch and protein to meet a variety of food manufacturers needs in different applications. These flours enable food manufacturers and retailers to produce new food products that are highly nutritious, protein-fortified, have a low-glycaemic-index, and are gluten-free.
R.T.E products: The most widely used application of the functional flours market
In 2015, the R.T.E products segment accounted for the largest share in the functional flours market in terms of value and volume, and is projected to grow at a competitive CAGR from 2016 to 2022. R.T.E products such as breakfast cereals, snacks, pasta products, ready-to-eat meals, and nutritional bars have gained importance in the global functional flours market. Busy lifestyles of the working population demand on-the-go food in order to save time, which is expected to drive the demand.
Asia-Pacific is projected to be the fastest-growing region in the functional flours market
Asia-Pacific is projected to be the fastest-growing market for functional flours, owing to its increasing economy with a large population base ready to spend on processed food and rapidly growing consumer markets of China, India, and Japan.
In this region, advancements in the food processing and food service industry have resulted in new opportunities for functional flours. The rise in middle-class population of the region, with high disposable incomes, demand for healthy and nutritious food products with new and improved organoleptic properties, raise the need for the growth of the functional flours market.
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This report studies marketing and development strategies, along with the product portfolios of leading companies such as Cargill, Incorporated (U.S.), Archer Daniels Midland Company (U.S.), Bunge Limited (U.S.), Associated British Foods plc (U.K), and General Mills, Inc. (U.S.). Other players include The Scoular Company (U.S.), AGRANA Beteiligungs-AG (Austria), The Hain Celestial Group, Inc. (U.S.), SunOpta, Inc. (Canada), and Parrish and Heimbecker, Limited (Canada).
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