Seattle, WA -- (SBWIRE) -- 11/06/2019 -- Flour is a fine powder made by grinding raw grains, beans, roots, nuts, or seeds. Flour is used in the preparation of numerous food items such as bread, biscuits, cakes, pies, pastries, noodles, pasta, and others. Cereal flour marks as the major ingredient of bread, which is also a staple food in many cultures.

Market Dynamics- Drivers

Increasing demand for flour from fast food and processed food industry along with growth in food industry is driving growth of the global flour market. For instance, according to India Brand Equity Foundation (IBEF), food processing industry in India is estimated to reach US$ 482 billion over the forecast period. Growing use of flour in bread, confectionary, and bakery products, coupled with extensive availability of raw materials is propelling growth of the global flour market. According to Food and Agriculture Organization (FAO), global wheat production in 2015-2016 was 735.2 million ton, which increased to 761.3 million ton in 2016-2017. Furthermore, introduction of novel products such as flours fortified with nutrients is expected to drive growth of the global flour market. For instance, in July 2017, Bay State Milling Company launched HealthSens high fiber wheat flour, which was derived from wheat with high amylose content.

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Market Dynamics-Restrains

People are shifting towards gluten-free product, owing to awareness regarding healthy living and also they are used as supplementary in weight-loss, which is expected to hinder growth of the global flour market during the forecast period. According to Canada Celiac Association, in 2013, around 22% of Canadians avoided gluten and around 6% of Canadians suffered from gluten sensitivity. This is increasing the demand for gluten-free flour such as rice flour.

Global Flour Market Taxonomy

Based on product type, Global flour market is segmented into

- Wheat flour

- Rice flour

- Oat flour

- Maize flour

- Rye flour

- Others

Based on application, Global flour market is segmented into

- Food

- Feed

- Others

Based on technology, Global flour market is segmented into

- Dry technology

- Wet technology

Wheat flour segment accounted for the largest market share in 2016 in the global flour market. This is owing to presence of wide array of nutrients such as dietary fibers and health benefits such as reduction in cholesterol levels. Furthermore, food segment accounted for highest market share in 2016, owing to growing use of flour in bakery products, baby food, and others. In 2016, dry technology segment held the dominant position in the global flour market, owing to low complexity as compared to wet milling process. Furthermore, it provides maximum surface area for processing and requires low capital cost. Dry milling is utilized for different types of grains without altering the operating characteristics of the machine.

Flour market Outlook

Among regions, in 2016, Europe accounted for the largest share in global flour market and is estimated to maintain its dominance during the forecast period. This is owing increasing consumption of bakery products and growing demand for different types of flour from restaurants, cafes, and others. According to National Association of British and Irish Millers (NABIM), the U.K. flour milling industry's annual revenue was around US$ 1.73 billion in 2017. According to European Millers Association, around 30% of flour is used by bakeries, followed by 14% biscuit and rusk manufacturers.

North America is expected to witness significant growth during the forecast period, owing to increasing demand for flour from bakery and other industries. According to Government of Canada, in 2014, total revenue from bread and bakery products in Canada was US$ 6.5 billion, which increased to US$ 6.8 billion in 2015. Furthermore, key market players are introducing new products to cater growing demand for flour in food industry. For instance, in April 2014, CF Global Holdings (CFG) introduced Coffee Flour, an innovative flour derived from coffee cherries.

Furthermore, Asia Pacific is expected to witness significant growth over the forecast period, owing to high demand for flour from food industry. According to the National Restaurant Association of India (NRAI), food services industry in India is expected to reach US$ 68.16 billion by 2018. Furthermore, wide availability of raw materials such as grains is propelling growth of flour market in this region. For instance, according to Food and Agriculture Organization, China is the largest producer of wheat and rice globally in 2015-2016. China produced around 192 million tons of rice and 109 million tons of wheat in 2015-2016.

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Competitive Landscape

Key players operating in the global flour market are focused on various growth strategies such as mergers, acquisitions, collaborations, and partnerships, in order to gain competitive edge in the market. For instance, Kuantan Flour Mills Bhd collaborated with Shou Guang Chang Tai Economic and Trade Co Ltd for the expansion of premix and starch flour business in China in February 2018.

Major players operating in global flour market are Ardent Mills, LLC, Conagra Brands, Inc., Archer Daniels Midland Co., General Mills Inc., Willmar International Limited, Associated British Foods plc, Hindustan Unilever Limited, ITC Limited, Grain Craft, Inc., and Hayden Flour Mills. LLC.

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