Worldwide Functional Flour Market Projected to Grow at CAGR of 6% by Forecast to 2022

Market Overview:

The functional flour market is driven by factors such as increase in the demand for gluten free and fortified food products. Increase in micro-nutrient malnutrition (iron, folic acid, iodine, vitamin A, and zinc); anemia in women has increased at alarming rate, many breakfast cereals contains iron which can help fight anemia.

Increasing popularity of ready to eat food products both in developed and developing nations will continue contributing to the increasing sales of functional flour. The improving consumer lifestyles in the developing economies coupled with the rapid urbanization is considered to be the major factors for the rising growth of ready to eat food products. Urbanization also helps in increasing the disposable income, which increases the food expenditure of the final consumer. The trend of consumption of convenience food began in western regions and spread to other regions rapidly. Looking at the development of Asian countries, the increasing purchasing power of consumers, convenience trends are likely to remain significant.

Consumers go for convenience foods as they are easy to use, and possess nutritional value, safety, variety and product appeal. Due to changing lifestyles, consumers spend less time planning and cooking meals at home as they consider preparing food at home as a chore and time and energy consuming. Flour is the major ingredients in the ready to eat food products. Due to the increasing massive growth of bakery & confectionery, the growth of functional flour is increasing at a high pace. Additionally, the bakery & confectionery is undergoing transitions of new product development, which, in turn, accelerates the growth of the functional flour.

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Latest Industry Updates:

Sep 2017: Ingredion Incorporated has launched multi-functional rice flours, homecraft create 835 and 865 to increase its product portfolio. The new product can be used for preparation of soups and sauces.

Aug 2016 Ingredion Incorporated has signed an agreement to acquire the rice starch and rice flour business from Thailand based company Sun Flour Industry Company Ltd. The acquisition will help Ingredion in the growth of its higher-value specialty ingredients business.

Competitive Analysis:

Key players in the functional flour market are emphasizing in the production capacity. Increasing production capacity minimizes the fixed cost of the company which in turn minimizes the overall cost of production. Moreover, increasing production capacity increases the overall profitability of the company. Key manufacturers in the functional flour has increased their production capacity and also opened new manufacturing plant in order to cater the increasing demand of functional flour. For instance, in June 2017, ADM constructed a new flour mill in Illinois, the U.S. The new flour plant will aid the company to supply the functional flour not only in the U.S. but also in North America.

The key players profiled in functional flour market are Cargill, Archer Daniels Midland Company, Bunge Limited, Associated British Foods PLC, General Mills, Inc., The Scoular Company, Ingredion Inc, Agrana Beteiligungs-AG, The Hain Celestial Group Inc., Sunopta, Inc, and Parrish & Heimbecker Limited among many others.

Market Segments:

The global functional flour market has been divided into source, claim, distribution channel, and region.

On The Basis Of Source: Wheat, Corn, Rice, Rye, Peanut, Sprouted Grains, Tapioca, and Others

On The Basis Of Claim: Gluten-free, Organic, Pre-gelatinized, and Others

On The Basis Of Distribution Channel: Store based, and Non-store based

On The Basis Of Region: North America, Europe, Asia Pacific, and ROW.

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Regional Analysis:

The global functional flour market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. North America region is accounting for 30.8% market proportion in the year of 2017 in the global functional flour market and it is estimated to retain its dominance throughout the forecast period of 2017-2022. The growth of the North America region is anticipated to be driven by the various factors. Continuous product innovation is one of the major factors for the growth of the market. Rapid advancements have been noticed in the flour products starting from the various inclusions of raw materials to packaging. Various factors such as taste, quality and source of flour are critical factors for functional flour market. Manufacturers of functional flour have adopted suitable technologies to achieve desirable taste and texture according to consumer’s preferences. The advancements in technology has resulted in introduction of wide variety of functional flour products to the consumers with different delivery formats, taste and sources and thereby driving functional flour market in North America region.