Accordingto a research report by Transparency Market Research (TMR), a leading marketresearch and intelligence firm, the global flour market is expected to witnessa high growth rate in the near future. The report provides a thorough analysisof this market on the basis of the key trends and future prospects. With alarge pool of participants, the worldwide flour market demonstrates a highlycompetitive business landscape. The key players in the global flourmarket, such as Archer Daniels Midland Co., Ardent Mills Canada,ConAgra Foods Inc., Associated British Foods Plc, Hindustan Unilever Ltd., ITCLtd., and General Mills Inc., have been focusing on product differentiation onthe basis of flavour and nutritional value to remain significant in thecompetition. Going forward, these players are projected to shift their focustowards regional expansion in order to increase their visibility across theworld in the near future. A considerable rise in their market investments canalso be witnessed in the coming years, states the research report.
Theresearch report by TMR further states that the worldwide flour market willregister a steady growth at a healthy CAGR of 4.30% over the period from 2014to 2020. Flour is extensively utilized in the preparation of noodles andpastas, breads and bakery products, wafers, crackers, biscuits, and animalfeeds across the world. Among these, the demand for flour in the breads andbakery products segment is relatively higher. The increasing preference forburgers, sandwiches, and other food items prepared using bread among consumersis the main factor behind this rise in demand. Experts at TMR predict thisscenario to remain so over the next few years.
On thebasis of the geography, Europe, North America, Asia Pacific, the Middle Eastand Africa, and Latin America are the main segments in the global flour market.In terms of revenue, Europe has been leading this market, whereas, Asia Pacifichas acquired the top position in terms of the volume of consumption. Sincebread is a staple food item in a number of European countries, such as the U.K.and Germany, the demand for flour is likely to remain high in Europe over thenext few years. Similarly, consumers in various Asian economies prefer to eatwheat-based products, such as flat breads, which is expected to propel wheatyield in Asia Pacific, thereby reflecting positively on the Asia Pacific flourmarket in the near future, states the research report.
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High Demand for Food to BoostGlobal Flour Market
“Theincreasing need to cater to the high demand for food across the world isreflecting on wheat production, which in turn, is boosting the global flourmarket,” says a TMR analyst. The urban population is swiftly taking up fastfood as their staple. The demand for bread and bakery products has beenconstantly high across the world. In addition, the mushrooming of cafes andfast food joints is adding to the demand of bakery products significantly. Allthese factors are driving the growth in the flour market across the world andare expected to continue to do so over the next few years, notes the marketstudy.
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Awareness Pertaining to Ill Effectof Gluten to Limit Flour Consumption
On theother hand, the augmenting awareness among consumers regarding the harmfuleffect of gluten may limit the demand for flour across the world in the nearfuture. Wheat flour has a high gluten content, which is causing consumers toshift to alternatives. However, the increasing demand for food from theever-rising global population will balance the impact of hindrances in thegrowth trajectory of this market over the next few years, states the researchreport.
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