Professional research study says Global Flour Market was valued at $200,497 million in 2015 and is expected to reach $270,895 million by 2022, registering a CAGR of 4.4% during the forecast period 2016 – 2022, Ask for Sample@ http://www.researchbeam.com/flour-market/request-sample
Latest research on“World Flour Market Overview, Analysis, Demand, Report, Trends, Growth and Research – Flour Market by Raw Material (Wheat, Rice, Maize, and Others), Application (Bread & Bakery Products; Noodles & Pasta; Animal Feed; Wafers, Crackers, & Biscuits; Non-Food Application; and Others), Technology (Dry Technology and Wet Technology) – Global Opportunity Analysis and Industry Forecast, 2014-2022”
Wheat is the most widely produced cereal in the world, most of which is for human consumption. Flours are used as an ingredient in the making of bread, bakery items, and corn-based coating of fried food and fast food. In fast food restaurants, the consumption of flour is high as they serve food items such as donuts, burgers, cakes, and fried meat.
The growth in population coupled with per capita income has increased the demand for flour, which has further raised the production of flour. Change from traditional to urban and modern lifestyles of consumers has increased the demand for various types of flours in the preparation of fast foods items. Moreover, rise in health concerns for high-protein flour provides an impetus for flour millers to produce gluten-free flour alternatives. Change in taste and preference of consumers as well as dietary concerns for manufacturers to develop differentiated products have impacted the overall sales. Owing to improper warehousing influences, the flour industry faces major problems in the form of contamination of the food grains. Expansion of commercial farmlands and growth of aquatic feed industry in Asia-Pacific impact the application of flour in the form of animal feed.
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Tradition of urban and modern lifestyles
Rise in urban and modern lifestyle has increased the demand for various types of flours in the preparation of fast foods such as pizzas, donuts, fried meat items, and burgers. Flours are used as a principal ingredient in the making of bread, bakery items, corn-based coating of fried food. Moreover, the increase in number of fast food restaurants also boosts the market growth.
Rise in awareness about gluten-free products
Increase in health concerns for high-protein flour gives rise to demand for flour millers to make product innovation by using gluten-free flour alternatives such as maize flour, rice flour, soya flour, and corn flour. Private flour millers in Asia-Pacific have initiated the private players to increase their production capacity and innovative product offerings owing to less stringent regulations of government control on the flour industry. Increase in average selling price for flour in most of the countries has positively impacted the growth of market.
TOP IMPACTING FACTORS
The global flour market is segmented based on raw material, application, technology, and geography. Based on the raw material, it is divided into wheat (including durum flour), rice, maize (including corn flour), and others (including oat flour and rye flour). On the basis of application, it is categorized into bread & bakery products, noodles & pasta, animal feed (including pet food), wafers, crackers & biscuits, non-food application (including bio-plastics, biomaterials, glue), and others (including roux, baby food). Based on technology, it is bifurcated into dry technology and wet technology. Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Top winning strategies
The winning strategies described below are a result of the analysis performed on company profiles of key players in the market. The data obtained through press releases by the companies has limited scope to publicly available information. The key strategies tracked from the recent developments of the companies in this industry include:
Product launch: Flour with higher efficiencies for different innovations is introduced in the market.
Acquisition: Takeovers are implemented by market leaders to strengthen their reach to customers or enhance technical capabilities.
Agreement and partnership: The leading players are signing supply & sales agreements and plant manufacturing partnerships to capture major market share and compete with other players.
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Companies launch new products to increase their market penetration. About 38% of the studied strategies were product launches in the flour industry. Bread & bakery products, noodles & pasta, animal feed (including pet food), wafers, crackers & biscuits, non-food applications (including bio-plastics, biomaterials, glue) are gaining increased traction across world, which has led to increased number of flour manufacturers. Key players such as Ardent Mills, Archer Daniels Midland Co., Associated British Foods plc, ConAgra Foods, Inc., General Mills Inc., Hindustan Unilever Limited, Willmar International Limited, and Cargill enhance their product portfolios by launching flour with different qualities for different applications. For instance, in 2016, Ardent Mills announced its intent to acquire the Mondelz Canada flour mill, located in Mississauga, Ontario, Canada. The mill produces hard and soft wheat flour for its Canadian bakeries and a number of food manufacturing customers. The transaction is expected to close in the next few weeks.
In addition, in 2015, Ardent Mills, the premier flour-milling and ingredients company, partnered with the Colorado Rapids of Major League Soccer (MLS) for a season-long giving program to benefit Food Bank of the Rock. Increased number of consumers are on the lookout for healthier foods that are made with natural ingredients, and have a good taste. ADM is already helping customers meet that growing demand with its comprehensive portfolio of ingredients and flavors. Currently, it is expanding its portfolio even further by offering customers worldwide with a wide array of great stevia and monk fruit sweeteners. They are pleased to partner with GLG, which has a demonstrated advantage in developing non-GMO stevia varietals and a pipeline of future innovative products.
Around 31% of the companies analyzed adopted acquisition as their key strategy to gain expertise in the field of flour industry. For instance, in 2015, Cargill expanded its feed formulation expertise through acquisition of Format International Ltd, a leading global feed formulation software company with more than 30 years of experience and more than 5,000 users across 93 countries. Format International specializes in the design, authoring, and marketing of recipe optimization, ingredient allocation, and food & feed formulation solutions for the animal feed, aqua feed, pet food, human food, premix, and other industries.
FLOUR MARKET KEY BENEFITS
FLOUR MARKET KEY SEGMENTATION
BY RAW MATERIAL
MARKET BY APPLICATION
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