The new report by Expert Market Research titled, ‘Global Functional Flour Market Share, Price, Size, Report and Forecast 2023-2028’, gives an in-depth analysis of the global functional flour market, assessing the market based on its segments like source, type, application, and major regions.
The report studies the latest updates in the market, along with their impact across the market. It is also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
Functional Flour Market Share, Size, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
• Forecast CAGR (2022-2027): 6.5%
The growth of the global functional flour market is driven by the rising demand for quality food products. The rising health awareness among masses and rising expenditure of food products is driving the demand for nutrient-rich food and beverage products. Moreover, owing to the fast paced and hectic lifestyles, people are inclining towards healthy snacks such as biscuits, protein, and energy bars. There is a growing trend of on-the go snacks among kids to meet the daily dietary nutrient requirement. This in turn is anticipated to bolster the demand for the functional flour market.
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Additionally, hectic lifestyles of the working class have led to various lifestyle conditions such as obesity, stress, diabetes, and cardiac issues among others. This has led to the increase in demand for nutrient rich food products to improve the overall health of individuals, thereby, aiding the market growth. The key market players are developing various product types of functional flour such as gluten-free, and fibre rich flour, among others, for catering to a large population. This is further anticipated to propel the growth of the global functional flour market.
Functional Flour Market Definition and Major Segments
Functional flour refers to a modified flour produced from grains and legumes like wheat, rice, and maize, among others, that undergoes hydro-thermal treatment during the production process. It offers a range of enhanced health benefits as compared to the regular flour. It finds application in food and beverage industry for making premium food products.
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The global functional flour market, based on source, is divided into:
• Grains
• Legumes
The global market on the basis of type is segmented into:
• Pre-Cooked Functional Flour
• Speciality Functional Flour
• Others
By application, the market is segmented into:
• Baking and Confectionery Industry
• Food Processing Industry
• Others
The global market based on region is divided into:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
Functional Flour Market Trends
Regionally, North America is anticipated to dominate the global functional flour market. This can be attributed to the growing demand for clean label and gluten free food products. Additionally, health awareness among the regional population and increasing product launches by the key players in the region are expected to propel the market over the forecast period. For instance, in November 2021, Cargill launched a clean label soluble rice flour, SimPure. The product is an alternative to maltodextrin and finds application in dairy, bakery, beverages, sauces, and snacks.
Meanwhile, Europe is anticipated to follow North America in the forecast period. The growing trend towards veganism and rising utilisation of plant-based and gluten-free food products is anticipated to boost the regional market growth. Further, regional manufacturers are increasingly launching products to cater to the local demand. On March 2021, Ingredion launched multipurpose functional rice flours for the EMEA market. The product is designed to manufacture clean label baby food products. However, across the duration of the forecast period, the region of the Asia Pacific is expected to witness the fastest rate of growth. This can be attributed to the rising disposable incomes, growing health awareness, and increasing penetration of global players in the region.
Key Market Players
The major players in the global functional flour market report include:
- GoodMills Innovation GmbH
- Ingredion Incorporated
- Bunge Limited
- The Scoular Company
- Caremoli Spa
- GEMEF Industries
- Others
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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