NEW YORK, Oct. 27, 2023 /PRNewswire/ — The flour market size is expected to grow by USD 40.9 billion from 2022 to 2027, according to Technavio. In addition, the growth momentum of the market will be progressing at a CAGR of 4.51% during the forecast period. Growing demand for bakery items is notably driving the flour market. However, factors such as high manufacturing and production costs associated with the fermentation process of wheat flour may impede market growth. The market is segmented by type (Wheat, Maize/corn, and Rice), application (Bakery products, Noodles and Pasta, Biscuits/waffles/wafers, and Animal feed and others), and geography (APAC, Europe, North America, South America, and Middle East and Africa). Technavio provides a comprehensive report summary describing the market size and forecast along with research methodology. The sample report is available in PDF format
Technavio has announced its latest market research report titled Global Flour Market 2023-2027
Key Segment Analysis
The wheat segment is estimated to witness significant growth during the forecast period. Wheat is an essential ingredient in baking, providing structure, texture, and flavour to a wide range of baked goods. The growth of the bakery industry worldwide is being significantly driven by the increasing consumption of baked goods. Bread, cakes, pastries, and other bakery products have become staples in many diets and cultures, contributing to a high demand for flour. Moreover, the popularity of home baking among consumers has surged, leading to an increase in demand for wheat flour.
To know additional highlights and key points on various market segments and their impact in coming years, View the PDF Sample Report.
Geographical Market Analysis
APAC is estimated to contribute 45% to the growth of the global market during the forecast period. The global flour market in APAC is experiencing significant growth due to various factors such as rising health concerns, increasing disposable income, and the demand for on-the-go breakfast items and convenient food products. Consumers in the region are also interested in low-sugar and low-calorie food products. To meet the diverse tastes and preferences of consumers, many market players are launching new products and expanding their product portfolios. The market growth is mainly driven by countries like China, India, the Philippines, Thailand, and Vietnam. These factors are expected to continue driving the market growth in the region during the forecast period.
Company Insights
The flour market is fragmented, and the companies are deploying organic and inorganic growth strategies to compete in the market. The report analyzes the market’s competitive landscape and offers information on several market companies, including Archer Daniels Midland Co., Ardent Mills LLC, Associated British Foods Plc, Bay State Milling Co., Bunge Ltd., Burapa Prosper Co. Ltd., Cargill Inc., General Mills Inc., GrainCorp Ltd., Hodgson Mill, ITC Ltd., King Arthur Baking Co. Inc., Lieng Tong Rice Vermicilli Co. Ltd., Manildra Flour Mills Pty. Ltd., Parrish and Heimbecker Ltd., PT Sriboga Raturaya, Savage Services Corp., Thai Flour Industry Co. Ltd., Thai Wah Public Co. Ltd., and Wilmar International Ltd.
View the PDF Sample Report to find additional highlights on the growth strategies adopted by companies and their product offerings.
Related Reports:
Fermented Wheat Flour Market size is estimated to grow at a CAGR of 5.26% between 2022 and 2027.
Rice Flour Market size is estimated to grow at a CAGR of 4.54% between 2022 and 2027.
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Flour Market Scope |
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Report Coverage |
Details |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 4.51% |
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Market growth 2023-2027 |
USD 40.9 billion |
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Market structure |
Fragmented |
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YoY growth 2022-2023 (%) |
4.25 |
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Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 45% |
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Key countries |
US, China, India, Germany, and France |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Archer Daniels Midland Co., Ardent Mills LLC, Associated British Foods Plc, Bay State Milling Co., Bunge Ltd., Burapa Prosper Co. Ltd., Cargill Inc., General Mills Inc. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis. |
ToC:
Executive Summary
Market Landscape
Market Sizing
Historic Market Sizes
Five Forces Analysis
Market Segmentation by Type
Market Segmentation by Application
Customer Landscape
Geographic Landscape
Drivers, Challenges, & Trends
Company Landscape
Company Analysis
Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com
SOURCE Technavio
