The growing consumer interest in diverse culinary experiences and the rising demand for convenience foods are projected to drive the global toasted flour market’s growth during the forecast period. The Europe region is predicted to witness prominent growth by 2032.
WILMINGTON, Del., April 23, 2024 /PRNewswire/ — Allied Market Research has recently published a report, titled, “Toasted Flour Market Size, Share, Competitive Landscape and Trend Analysis Report by Type, by Application, by Distribution Channel : Global Opportunity Analysis and Industry Forecast, 2023-2032.” According to the report, the global toasted flour market generated $60.4 billion in 2022, and is anticipated to generate $125.4 billion by 2032, rising at a CAGR of 7.8% from 2023 to 2032.
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Prime Determinants of Growth
The growing demand for convenience foods, rising interests of consumer in culinary experiences, and the longer shelf life of toasted flour compared to untoasted flour are the factors expected to drive the growth of the global toasted flour market in the forecast period from 2023 to 2032. However, the altered functional qualities of toasted flour, such as texture, flavor, and color may hamper market growth in the coming future. On the contrary, the increasing utilization of toasted flour in diverse recipes & novel food products is expected to offer remunerative opportunities for the expansion of the toasted flour market during the forecast period.
Report Coverage & Details:
|
Report Coverage |
Details |
|
Forecast Period |
2023–2032 |
|
Base Year |
2022 |
|
Market Size in 2022 |
$60.4 billion |
|
Market Size in 2032 |
$125.4 billion |
|
CAGR |
7.8 % |
|
No. of Pages in Report |
310 |
|
Segments covered |
Type, Application, Distribution Channel, and Region |
|
Drivers |
• Advantages of toasted flour in culinary applications • Increasing demand for convenience foods |
|
Opportunities |
• Increasing usage in diverse recipes and products • A gluten-free option for consumers |
|
Restraints |
Different functional qualities than its untoasted counterpart |
Type: Wheat Flour Sub-segment to Flourish Immensely by 2032
The wheat sub-segment accounted for the largest global toasted flour market share of 40.5% in 2022 and is expected to rise at the highest CAGR of 8.6% during the forecast period. This dominance is mainly due to the rising popularity of wheat flour as a nutritious and versatile ingredient in culinary applications across the globe. In addition, the growing preferences of consumers towards natural & wholesome food choices is boosting the demand for wheat flour-based products.
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Application: Bread & Bakery Products Sub-segment to be the Most Dominant During the Forecast Period
The bread & bakery products sub-segment held the largest market share of 34.2% in 2022 and is expected to rise at the highest CAGR of 8.6% during the forecast period. This dominance majorly is driven by the growing consumer preferences towards artisanal and premium food experiences, which is boosting the demand for bread and bakery products. Besides, the manufacturers & suppliers are expanding their product offerings to capitalize on the growing market trend, which is projected to boost the sub-segment’s growth in the coming years.
Distribution Channel: Convenience Stores Sub-segment to Witness Prominent Growth During the Forecast Period
The convenience stores sub-segment accounted for the largest global market share of 53.4% in 2022 and is expected to hold major market share by 2032. This dominance majorly is driven by the convenience and accessibility offered by these stores to consumers looking for toasted flour products on-the-go. In addition, as the lifestyles of the consumer continue to prioritize convenient & time-saving solutions, this sub-segment is poised to flourish during the forecast period.
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Region: Europe Market to Hold Major Share by 2032
The toasted flour market in the Europe region accounted for the largest share of 44.2% in 2022 and is predicted to continue to maintain its dominance during the forecast period. This growth is mainly owing to the region’s rising consumer demand for natural ingredients, high-quality, and premium baked products. Besides, the growing focus of consumers on health & wellness and the innovation of toasted flour product lines by manufacturers in Europe are other factors expected to boost the growth of the region in the coming future.
Leading Players in the Toasted Flour Market:
Archer-Daniels-Midland Company
Cargill Inc.
King Arthur Flour Company Inc.
Conagra Brands, Inc.
Ardent Mills Corporate
Bunge Milling Inc.
Nutrigerm
Montana
Bob’s Red Mill Natural Foods, Inc.
ITC Limited
The report provides a detailed analysis of the key players of the global toasted flour market. These players are employing various strategies including launching new products, entering collaborations, expanding operations, forming joint ventures, and signing agreements, all aimed at boosting their market share and securing their competitive position across different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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