Published: Jun, 2017
The global flour market is consolidated in nature. The market is characterized by stiff competition among players during the forecast period. Private labels in this market are expected to increase in the coming years. Some of the key players operating in the global flour market are: Associated British Foods plc, Wilmar International Limited, White Wings, Ardent Mills Canada, Archer Daniels Midland Company, Hindustan Unilever Limited, ConAgra Foods Inc., General Mills Inc, ITC Limited., Hodgson Mill., and King Arthur Flour Company Inc. Players in the market are making use of aggressive marketing strategies to promote their brands and products. Transparency Market Research (TMR) in its new research report has studied the key strategies adopted by players to sustain in the competitive environment of the flour industry. It also covers the challenges faced by manufacturers in the flour industry.
According to the report by Transparency Market Research, the global flour market will be worth US$245.82 bn by 2020. Dry milling is expected to lead in terms of technology on account of their ease of milling process, growing acceptance of non-gelatinized flour, reduced cost, and compatibility with wheat flour milling process. On the basis of application, bread and bakery products is likely to retain its leading status in the market and account for over 37.77% by 2020. Growing consumption of bread-based fast foods in developing nations is expected to result in the growth of this segment in the coming years. The non-food application segment is estimated to expand at the fastest rate in the coming years, says a TMR analyst.
Europe to Continue to Lead in Flour Market
On the basis of geography Europe has been leading in the flour market and this trend is likely to continue throughout the forecast period. While Europe has been leading in the flour market in terms of revenue, Asia Pacific is likely to lead in the coming years in terms of volume. The growing population and increasing disposable income has led to the rise in the consumption of fast food, resulting in a significant growth in the Asia Pacific flour market. The Middle East is also expected to witness a growth in the flour market. The Latin America region will see increased wheat flour production and this will drive the market in the coming years.
Growing Number of Cafes and Restaurants to Drive Demand
The global flour market is expected to witness a moderate growth in the coming years on account of the increased demand from the growing population. The rise in the consumption of bakery products is one of the key drivers for this market. The growing demand for gluten-free varieties of flour and flour with high protein content is expected to increase the pressure among manufacturers to make available these variants of flour for the health conscious public. As flour is the main ingredient for many recipes, the demand for flour is expected to continue. This in turn is driving the market. The growing number of cafes and fast food restaurants will continue to drive the flour market. The development of flour milling industry is also expected to boost the market. The establishment of new flour mills will support the growth of this market.
This review of the market is based on a recent market research report published by Transparency Market Research, titled “Flour Market – (Raw Material – Maize, Wheat, Rice; Application – Noodles and Pasta, Wafers, Crackers, Biscuits, Animal Feed, Non food Application; Technology – Dry Technology and Wet Technology) Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020.”
The report segments the global flour market as:
Flour market, by raw material:
- Maize (Including corn flour)
- Wheat (Including durum flour)
- Others (Including oat flour, rye flour, etc.)
Flour market, by Application:
- Noodles and pasta
- Bread and bakery products
- Wafers, crackers and biscuits
- Animal feed (Including pet food)
- Non food application (Including bioplastics, biomaterials, glue, etc.)
- Others (Including roux, baby food, etc.)
Flour market, by Technology:
- Dry technology
- Wet technology
Flour market, by geography: The market is segmented on the basis of geography into:
- North America
- Asia Pacific
- Rest of the World (Latin America, Middle East and Africa)
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