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 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 utilized in a wide range of food and beverage items to provide the appropriate organoleptic properties. These flours are heat-treated, protein treated, enzyme-treated, vitamin and mineral treated, or water treated to improve their stability, regularity, and other activities, as well as their nutritional content. The growing demand for functional flours is being driven by the food and beverage manufacturing industries. Functional flours are utilized in a variety of applications, including bakery items, soups and sauces, RTE products, and others. In addition, rising gluten allergies are driving up demand for non-wheat flour. This is increasing demand for functional flours, which include soy flour, rye flour, and oat flour, among others. Rising consumer spending on ready-to-eat bread items in multigrain varieties is assisting the expansion of the functional flour market. Moreover, the demand for functional flour is predicted to expand due to an increase in the consumption of packaged and processed food products in both developing and established nations. The demand for luxury food products is increasing, which is projected to drive the functional flour market.
The COVID-19 pandemic was observed to be impeding market growth; its impact was significant during the first few months of lockdown, where, despite increased demand for functional flour ingredients, key firms and organizations around the world reported their inability to combat logistical concerns. However, functional food is gaining popularity at the moment. Many individuals are becoming more aware of the health benefits of this cuisine. The use of functional flour is increasing as a result of this. The market's production and supply are expected to skyrocket beginning in 2021. During this time, flour production is increasing. It is expected to meet the food needs of people in many countries. This product's long shelf life and ease of use contribute to rapid expansion. These are the reasons that will contribute to a good outlook for the functional flours market. Moreover, the pandemic created opportunities for many private firms to enter the market in order to meet the increased demand for food ingredients, which benefited ingredient makers.
A key factor is the increasing usage of functional foods in a variety of industries. The usage of functional flour is increasingly common in many areas. They are utilized in bakeries and other ready-to-eat food shops. The rising need for functional flour in all of these industries will benefit this industry. Furthermore, the changing lifestyle of customers is a critical component driving demand. People's eating habits and lifestyles are improving. A low-carbohydrate diet with numerous advantages is known as functional food. It aids in weight management and overall bodily wellness. These are the aspects that will play a critical function in increasing market demand. Moreover, as people become more aware of the negative effects of gluten on the body, there is a greater need for healthy flour alternatives. The rising demand for functional flours will have a beneficial effect on the market. This market's overall profitability and supply will improve as demand rises. These are the variables that are driving the functional flours market.
Stringent market restrictions are a major market restraint. The market for functional flours is the most regulated. To enhance shelf life, the functional flours market employs a variety of chemicals and additions. Policies, however, limit the usage of such compounds. This puts a crimp in the manufacture of certain flours. All of these constraints may have a significant impact on the market's growth. Furthermore, the volatility of raw materials is another issue that may have an impact on the market's growth. Many reasons reduce market demand, including changes in raw material prices.
As disposable income rises, so will market growth potential for high functional flours. Individuals' per capita income in several countries will rise in the future years. This will increase overall spending on the market for functional flours. These elements will result in a market with a high supply rate. Furthermore, increased demand for premium flours will open up new avenues for expansion. Demand for premium functional flours will drive market demand throughout the forecast period. In addition, the increased demand for low-fat alternatives will spur new developments.
The absence of infrastructure is a hurdle for the market of functional flours. The market for functional foods is still in its early stages. This market is expanding steadily. However, a lack of infrastructure complicates the manufacturing process. The price of these devices is considerable due to their various intricacies. All of these elements may provide a challenge to the functional flours market. Furthermore, the price can have an impact on the overall demand of the market in emerging countries. Due to its limitations, low expansion rates are common.
The Functional Flour Market is segregated based on Type, Application, and Source.
By Type, the market is classified into Pre-Cooked Flour, Specialty Flours, and Others (enriched flour, instant flour mixes, and composite flours). In the forecast period, the Specialty Functional Flour Segment retained the greatest market share. This expansion is due to the increasing use of specialty flours in the manufacturing of infant food. The outstanding health benefits of specialty flours, together with their high nutritional content, are driving the expansion of the Specialty Functional Flour market.
By Application, the market is classified into Bakery Products, Soups & Sauces, RTE Products, and Others (seasoning bases, coatings & breadings, spreads & infant formula, special diet foods, and beverages). In the forecast period, the Ready-To-Eat Products Segment held the greatest market share. This increase is due to the ease of use and accessibility of ready-to-eat items. Working populations' hectic lifestyles necessitate on-the-go cuisine in order to save time that would otherwise be spent preparing food and beverages at home. As a result, a new class of RTE items has emerged, with different alternatives spanning from breakfast to supper, as well as healthier ones that give whole grain and other nutritional advantages that are in demand.
|Historic Years||2016 - 2020|
|Forecast Years||2021 - 2028|
|Segments Covered||By Product Type, By Application, and By End Use|
|Forecast Units||Value (USD Billion), and Volume (Units)|
|Quantitative Units||Revenue in USD million/billion and CAGR from 2021 to 2028|
|Regions Covered||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World|
|Countries Covered||U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others|
|Number of Companies Covered||10 companies with scope for including additional 15 companies upon request|
|Report Coverage||Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.|
|Customization Scope||Avail customized purchase options to meet your exact research needs.|
North America dominates the industry with high knowledge of product efficiency and a need for luxury items. New trends in functional bars in the United States show that the country's desire for functional food products is expanding. Consumption of nutritive convenience and fortified food is increasing, as is health awareness, leading to increased consumption of healthier diets, boosting the market. Consumers in the country are embracing preventative healthcare measures, such as eating nutritious food, as the country's health care expenditure pattern grows by the day. This aspect is increasing overall sales in the country even further.
In the functional flour market, Europe is predicted to be the second-largest area. This is because consumers are more aware of the components in food products. Consumers in Europe are likely to double-check the ingredient list in food products, creating a need for functional flour products. Moreover, growing knowledge and a shift in eating patterns have resulted in a trend toward eating smaller meals throughout the day. These considerations have boosted the popularity of Functional Flour foods and the substitution of nutritional biscuits, snacks, and energy or protein bars for meals.
Some of the main competitors dominating the Functional Flour Market include - Cargill, Incorporated (US), Archer Daniels Midland Company (US), Bunge Limited (US), Associated British Foods plc (UK), and General Mills, Inc. (the 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).
The Functional Flour Market is segmented as follows:
Functional flour has more nutritional advantages when compared with typical flour. It is high in vitamins and minerals. Functional flours are changed wheat or non-customary flours that claim to enhance wellbeing and give improved advantages. It may likewise incorporate flours that are strengthened with nutraceutical, herbs, and vitamins. Functional flour is a type of flour that is adjusted to enhance the nutritional values through different procedures, for example, blending, wheat breeding, and others.
Some of the factors influencing the global functional flour market are increasing per capita income, rising consumption of processed and packaged food, and increasing health consciousness of people. Favorable government regulations and escalation of trade activities are some of the other factors enhancing the growth of the global functional flour market over the forecast period. Increasing demand for processed food industries is anticipated to drive the global functional flour market in the near future. Recently, Ingredion Incorporated introduced 10 new useful flours in the showcase by the brand name of Homecraft. The useful flour is obtained from chickpea, yellow pea, or yellow lentil, and faba beans. This item is likewise available in various grades of protein level, starch substance, and particle size to cater different needs of food manufacturers.
Among the raw material type segments, the legumes segment is estimated to account for significant value share and is anticipated to grow at a substantial growth rate over the forecast period. This is attributed to the fact that legumes have a different level of starch and protein that helps the food manufacturers’ to fulfill the needs across various applications.
On the basis of product type, the global functional flour market is classified as pre-cooked flour, fortified flour, and specialty flour. The R.T.E products segments include nutritional bars, ready-to-eat food products, snacks, etc. The R.T.E products segment is expected to enhance at a relatively high growth rate than other application segments. The segment is estimated to account for the dominant value as well as volume share in the global functional flour market. The growth of the segments is influenced by high demand from the urban population due to increasing popularity of on-the-go food, busy lifestyle of the population along with increasing health consciousness.
Some of the key flour milling & processing associations include National Association of British and Irish Flour Millers, North American Millers' Association, and European Flour Millers. Regulatory associations and government bodies involved in the functional flavor manufacturers include EFSA (the European Food Safety Agency), FDA (the Food and Drug Administration), FSANZ (the Food Safety Australia and New Zealand), and FSSAI (the Food Safety and Standards Authority of India). Some of the key players involved in the value chain of functional flours are General Mills, Inc., SunOpta, Inc., Archer Daniels Midland Company, Cargill, Incorporated, The Hain Celestial Group, Inc., Associated British Foods plc, Parrish & Heimbecker, Limited, AGRANA Beteiligungs-AG, The Scoular Company, and Bunge Limited. The report includes detailed profiles including the financial overview, business strategies, key developments, company overview, etc. of key players operating in the global market. Few major strategies of the companies operating in the functional flour market are merger & acquisition, product launch, backward & forward integration, etc.
The growing demand for functional flours is being driven by the food and beverage manufacturing industries. Functional flours are utilized in a variety of applications, including bakery items, soups and sauces, RTE products, and others. In addition, rising gluten allergies are driving up demand for non-wheat flour. This is increasing demand for functional flours, which include soy flour, rye flour, and oat flour, among others.
According to the Market Research report, the Functional Flour Market was worth about 72,192.5 (USD million) in 2021 and is predicted to grow to around 107,735.3 (USD million) by 2028, with a compound annual growth rate (CAGR) of around 6.9 percent.
North America dominates the industry with high knowledge of product efficiency and a need for luxury items. New trends in functional bars in the United States show that the country's desire for functional food products is expanding. Consumption of nutritive convenience and fortified food is increasing, as is health awareness, leading to increased consumption of healthier diets, boosting the market.
Some of the main competitors dominating the Functional Flour 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).