04-May-2022 | Zion Market Research
The Functional Flour Market was worth around USD 72,192.5 million in 2021 and is estimated to grow to about USD 107,735.3 million by 2028, with a compound annual growth rate (CAGR) of approximately 6.9 percent over the forecast period. The report analyzes the Functional Flour Market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the Functional Flour Market.
Functional Flours are a type of product that has been hydrothermally treated and is used in a range of applications in the food and beverage industries. The functional flours are created and treated to have improved nutrient characteristics and health advantages. Due to the health benefits and increased customer knowledge about personal health, functional flours are chosen over traditional product alternatives. The growing popularity of gluten-free and clean label ingredients is expected to fuel the Functional Flours Market. The introduction of online retail covered products such as specialty flours, combined with functional flour discounts, is expected to drive the growth of the Functional Flours Market during the projected period. The rising consumer spending, combined with favorable government restrictions enacted to promote the use of healthy products, is driving the industry's expansion. Moreover, there is an increase in functional flour commerce, which will contribute to the industry's growth over the forecast period. The market for functional flours is predicted to expand due to the product's improved health benefits and high nutritional value. With governments enacting stricter food labeling rules and commodity price volatility, the market may see limited gains throughout the predicted period. In addition, the instability in raw material supply due to shifting climatic conditions, combined with price variations, is projected to limit the expansion of the functional flours business.
The Functional Flour Market is segregated based on Type, Application, and Source. Based on Type, the global market is distinguished into Pre-Cooked Flour, Specialty Flours, and Others (enriched flours, instant flour mixes, and composite flours). Based on Application, the global market is distinguished into Bakery Products, Soups & Sauces, RTE Products, and Others (seasoning bases, coatings & breadings, spreads & infant formula, special diet foods, and beverages). Based on Source, the global market is distinguished into Cereals and Legumes.
North America (Functional Flours Market) held the highest share of the overall market in the forecast period. This region's expansion is due to rising product effectiveness awareness and increased demand for premium items in the region. The increasing use of functional flours, such as wheat flours, in the baking and confectionery industries, is fueling the expansion of the Functional Flours Market in this region. The presence of significant companies in the region, such as Ardent Mills, is further fueling the growth of the Functional Flours Market in North America. Over the projected period, the Asia-Pacific region is expected to have the quickest rate. This increase is due to reasons such as increased knowledge of the health benefits of functional flours, as well as an increase in specialty flour consumption in the Asia-Pacific area. The growing demand for processed foods is accelerating the growth of the Asia-Pacific Functional Flours Market.
Key players functioning in the Functional Flour Market market include Cargill, Incorporated (US), Archer Daniels Midland Company (US), Bunge Limited (US), Associated British Foods plc (UK), and General Mills, Inc. (US). Other players include The Scoular Company (US), AGRANA Beteiligungs-AG (Austria), The Hain Celestial Group, Inc. (US), SunOpta, Inc. (Canada), and Parrish and Heimbecker, Limited (Canada).
Browse the full “Functional Flour Market By Type (Pre-Cooked Flour, Specialty Flours, and Others (enriched flours, instant flour mixes, and composite flours)). By Application (Bakery Products, Soups & Sauces, RTE Products, and Others (seasoning bases, coatings & breadings, spreads & infant formula, special diet foods, and beverages)). By Source (Cereals and Legumes).” Report at https://www.zionmarketresearch.com/report/functional-flour-market
The Functional Flour Market is segmented as follows:
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