Current & Future Growth of Flour Market Size, Share, Growth, Emerging Trends and Forecast to 2032

The growth in population coupled with per capita income has increased the demand for flour, which has further raised the production of flour.

WILMINGTON,NEW CASTLE, DELAWARE, UNITED STATES, February 12, 2024 /EINPresswire.com/ — Flour Market report, published by Allied Market Research, forecasts that the global market is expected to garner $270,895 million by 2022, growing at a CAGR of 4.4% during the period 2016 – 2022. The wheat segment dominated this market, occupying more than three-fourths of the total share of revenue in 2015.

Rise in health concerns for high-protein flour provides impetus for product innovation in alternatives such as rice flour, maize flour, corn flour, and soya flour. Owing to the urbanization and modern lifestyle, the demand for flour-based foods has boomed the market. Expansion of commercial farmlands and growth of aquatic feed industry in Asia-Pacific have raised the application of flour in animal husbandry. Growth in the global population and rise in per capita income are two major drivers of the market. Furthermore, increase in average selling price of flour in most of the countries has positively impacted the growth in the market.

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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.

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.

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In 2015, the bread & bakery products segment occupied approximately two-fifths of the overall flour market revenue, and is anticipated to maintain its dominance throughout the forecast period. This is due to increase in use of a diverse variety of flours in the production of bread and other bakery products as well as rise in trend of adoption of on-the-go food habits, especially among youngsters worldwide.

Key Findings of Flour Market:

Wet technology segment is anticipated to grow at the fastest rate during the analysis period.

Asia-Pacific is estimated to continue to lead the market, growing at a CAGR of 4.9%, in terms of revenue.

Noodles & pasta occupied for more than two-ninths of the total share of the global flour market in 2015.

Non-food application is estimated to grow at the highest CAGR of 6.5%, in terms of revenue.

Others segment is expected to show a significant growth in the Asia-Pacific region.

Europe accounted for the largest share in the market, owing to increase in inclination of consumers towards bread & bakery products. Asia-Pacific is further expected to account for the second largest share, attributed to growth in population as well as rise in trend among youngsters following western food habits and food products. It is expected to register a significant growth rate over the forecast period.

Key players operating in the global flour market focus on acquiring local players to strengthen their market reach as well as to expand their customer base. Major companies profiled in the report include Ardent Mills Canada, Archer Daniels Midland Company, Associated British Foods plc, ConAgra Foods, Inc., General Mills Inc., Hindustan Unilever Limited, Hodgson Mill., ITC Limited, King Arthur Flour Company, Inc., White Wings, and Willmar International.

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David Correa
Allied Market Research
+1 800-792-5285
[email protected]
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