Functional Flour Market Outlook 2031:
The global functional flour market size was valued at USD 57.87 Billion in 2022 and is projected to reach USD 113.77 Billion by 2031, expanding at a CAGR of 7.8% during the forecast period 2023 - 2031. The growth of the market is attributed to the rapid growth in the processed food industry. Moreover, changing lifestyle and inclination toward convenient and healthy food options in emerging countries is driving the market growth.
Functional flour is used for producing ready to eat (RTE) products, bakery items, snacks, soups & sauces, seasoning bases, coatings & breading, spreads & infant formula, and special diet foods & beverages. This type of flour is manufactured and treated to have improved nutrient qualities. They are made from genetically modified grains, which contain less gluten than the conventional wheat flours.
Functional Flour Market Drivers, Restraints, Trends, and Opportunities
- Increasing demand for premium food products and rising initiatives to promote functional flours are driving the growth of market.
- Rising awareness regarding personal health and health benefits of functional flour is expected to spur the market expansion during the forecast period.
- Volatility in the supply of raw materials on account of changing climatic conditions coupled with price fluctuations are expected to hinder the market growth during the forecast period.
- Growing demand for healthier low fat alternatives is anticipated to fuel the growth of the market.
- The COVID-19 pandemic has encouraged people to consume healthy food products, which is speculated to positively influence the market growth.
Scope of Functional Flour Market Report
The report on the global functional flour market includes an assessment of the market, trends, segments and regional markets. Overview and dynamics have also been included in the report.
Attributes
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Details
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Report Title
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Functional Flour Market- Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Types (Pre-cooked Flour, Specialty Flour, enriched flours, instant flour mixes and composite flours) and Applications (Bakery, Soups & Sauces, RTE Products, and Others)
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Regional Scope
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North America, South America Europe, APAC, Latin America and Middle East & Africa
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Report Coverage
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Market Analysis and Size, Market Segment, Competitive Landscape, Driving Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Cargill Incorporated, SunOpta Limited, Archer Daniels Midland Company, Bunge Limited, The Scoular Company, Unicorn Grain Specialties, Parrish and Heimbecker Ltd, ITC Limited, Associated British Foods plc, ConAgra Foods, Inc, The Caremoli Group, General Mills Inc., Ingredion Inc., and The Hain Celestial Group
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Global Functional Flour Market Segment Insights
Specialty flour segment to account a significant market share
Based on types, the market is divided into, pre-cooked flour, specialty flour, enriched flours, instant flour mixes, and composite flours. The specialty flour segment is expected to account for a significant market share during the forecast period.
Growing demand for food products with health benefits coupled with high nutritive value is driving the segment growth.
RTE products to dominate the market
On the basis of applications, the market is segmented into, bakery, soups & sauces, RTE products, and others. RTE products include breakfast cereals, snacks, pastas, ready-to-eat meals, and nutritional bars. This segment is anticipated to dominating the market segment in the projected timeline.
However, the bakery products and soups & sauces segments are anticipated to expand at a rapid pace during the forecast period. Functional flours are widely used in the bakery industry.
North America to account a large market share
In terms of regions, the market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East and Africa. North America is expected to account for a large market share during forecast period, 2021-2028. High consumption of functional floor as the population in countries such as the US and China are more inclined toward health conscious products.
People in these countries are striving to adopt a combination of grains, cereals, lentils in their everyday food for essential nutrients. On the other hand, the market in Asia Pacific is anticipated to exhibit a high CAGR owing to growing influence of the western culture.
Segments
Types
- Pre-cooked Flour
- Specialty Flour
- Enriched Flour
- Instant Flour Mixes
- Composite Flour
Applications
- Bakery Products
- Soups & Sauces
- RTE Products
- Others
Regions
- North America
- South America
- Europe
- Asia-Pacific
- Middle East & Africa
Key players
- Cargill Incorporated
- SunOpta Limited
- Archer Daniels Midland Company
- Bunge Limited
- The Scoular Company
- Unicorn Grain Specialties
- Parrish and Heimbecker Ltd
- ITC Limited, Associated British Foods plc
- ConAgra Foods, Inc
- The Caremoli Group
- General Mills Inc.
- Ingredion Inc.
- The Hain Celestial Group
Competitive Landscape
The major players of the functional flour market are Cargill Incorporated, SunOpta Limited, Archer Daniels Midland Company, Bunge Limited, The Scoular Company, Unicorn Grain Specialties, Parrish and Heimbecker Ltd, ITC Limited, Associated British Foods plc, ConAgra Foods, Inc, The Caremoli Group, General Mills Inc., Ingredion Inc., and The Hain Celestial Group.
Companies are engaging acquisitions and mergers, research & developments, and product development to expand their market share.