Functional Flours Market size is forecast to reach $47.67 billion by 2025, growing at a CAGR of 7.97% during the forecast period 2020-2025. Functional Flours are the specialized type of products that are hydro-thermally treated for a variety of applications in the food and beverage industry. An increase in demand for premium food products and increasing consumption of convenience and healthy food products are the major factors driving the growth of the market. Increasing initiatives to promote functional flours and intensification of the global trade of functional flours is set to further enhance the overall market demand for Functional Flours Market during the forecast period 2020-2025.
Type – Segment Analysis
The Specialty Flours held the largest share in the Functional Flours Market in 2019 and is estimated to grow at a CAGR of 8.39% during the forecast period. Specialty flours are prepared by mixing all-purpose flour with other flours such as rye, graham, buckwheat, oat, and soy. All-purpose flour, which is also called multi-purpose flour, is made from a mixture of hard and soft wheat or medium protein wheat. Specialty flours are mixed with all-purpose flour to offer a sufficient amount of gluten. Specialty flours are largely used in baked goods to make them more nutritious and tasty. Genetically modified flour is estimated to gain high traction on account of improved properties. However, increased consumer concerns regarding the effect of genetic modification on human health are estimated to drive growth. The additive based flour is constituted by ethnic mixes which increases the consumer preference towards this market. The gluten-free flours aid in improving the quality of baked products, owing to its modified properties. The product can retain a higher amount of moisture which is useful in preparing ready to eat food items. With the increasing awareness of the rising negative effects of gluten, there is a growth noted in the market for functional flours. Also, the products have higher contents of vitamins, minerals, and proteins which provide added health benefits for consumers. The specialty flours are set to be the highest growing segment and are estimated to register the highest CAGR during the forecast period 2020-2025.
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Applications – Segment Analysis
The Bakery Products held the largest share in the Functional Flours Market in 2019. Flours are an essential ingredient in pastries, bread, pasta, and many more which can be milled through various grains. The protein present in flour creates texture and volume to the batter or dough. Flour is also used to thicken stews, soups, sauces, and gravies. Functional properties of flour include swelling capacity, foam stability, least gelation concentration, and gelatinization. Functional flours provide a natural, luxurious appearance, smooth texture, and reliable flavor to foods from the formation of gluten that provides strength and elasticity. Functional flours also help in maintain consistency in the procedure and improve processing time Functional flours act as active ingredients in making premium food products are good quality and are healthier than normal products. Present-day consumers are less interested in mid-market products. Bakery Products are set to be the highest growing segment and are estimated to register the highest CAGR during the forecast period 2020-2025.
Geography – Segment Analysis
Asia Pacific dominated the Functional Flours Market in 2019 with a share of more than XX, followed by North America owing to increase per capita income and growing demand for functional foods. Functional flours are preferred over the conventional product alternatives owing to the health benefits coupled with rising awareness regarding personal health among the consumers and increasing demand for specialty flours is increasing the growth of the functional flours market in this region.
However, North America is estimated to grow at a higher CAGR during the forecast period 2020-2025 owing to the rising gravitation toward health & wellness and augmented consumption of health-benefiting foods. Increasing consumer propensity for ready-to-eat bakery foods that are available in multigrain variants is also increasing the growth of the functional flours market in this region.
Drivers – Functional Flours Market
Increase in demand for premium food products and increasing consumption of convenience and healthy food products
An increase in demand for premium food products and increasing consumption of convenience and healthy food products is increasing the growth of the functional flours market. Functional flours act as active ingredients in making premium food products are good quality and are healthier than normal products. Present-day consumers are less interested in mid-market products. A trend is emerging among these consumers, in which they are seen to be minimizing their expenditures on basic groceries and are instead trying out new premium products available in the market. Functional flour is gaining popularity for its cost-cutting, nutritional benefits, thickening, texture, and taste enhancements. Thus, increasing the growth of the functional flours market during the forecast period 2020-2025.
Growing demand for healthy and low-fat alternatives and the presence of untapped opportunities and changing consumer lifestyles
Growing demand for healthy and low-fat alternatives and the presence of untapped opportunities and changing consumer lifestyles is increasing the growth of the functional flours market. Awareness about healthy food is increasing day by day. Staying fit and having tasty food is the main preference for most people, there are a lot of new diet plans. As the competition is increasing in the market, manufacturers creating innovations in food products using Functional Flour, such as bakery products, confectioneries, jams and jellies, monosodium glutamate, caramel, and others. So the demand for functional flour increases. Functional flour is mostly used in ready-to-eat foods. Initiatives by governments and associations across the globe in the directions of promoting consumption of functional flour are complementing the market growth. Rising instances of malnutrition or nutrition deficit across both developed as well as developing economies are fuelling such initiatives of promoting consumption of enriched flours, working in favor of the growth of functional flour market. Thus, increasing the growth of the functional flours market during the forecast period 2020-2025.
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Challenges – Functional Flours Market
Stringent government rules in terms of food safety to produce gluten-free and fortified flours
Some of the factors that can impede the growth of the Functional Flours Market are stringent government rules in terms of food safety to produce gluten-free and fortified flours. The volatility in the supply of raw materials on account of changing climatic conditions coupled with price fluctuations is set to create a hurdle for the functional flours market.
Functional Flours Industry Outlook
Product launches, mergers and acquisitions, joint ventures, and R&D activities are key strategies adopted by players in the Functional Flours Market. In 2019, the Functional Flours Market share is consolidated by the top ten players present in the market. Functional Flours, the top 10 companies are Cargill Incorporated, Archer Daniels Midland Company, The Scoular Company, Associated British Foods plc, The Hain Celestial Group, Inc, General Mills, Inc, ConAgra Foods, Inc, Parrish and Heimbecker Ltd, ITC Limited, The Caremoli Group, Ingredion Inc, Unicorn Grain Specialties, Bunge Limited, SunOpta Limited among others.
In September 2016, ADM purchased certain assets of Caterina Foods (US), a leading manufacturer of specialty gluten-free and high-protein pastas. This In June 2016, The Scoular Company purchased the assets of Tri-Fields Farms (U.K.). This enabled the company to meet the needs of its customers.
The Asia Pacific dominated the Functional Flours Market in 2019 owing to the increased intake of healthy food products and people following healthy food habits. The Functional Flours Market scope for different regions will be provided in the final report.
Growing demand for healthy and low-fat alternatives and the presence of untapped opportunities and changing consumer lifestyles is likely to aid in the market growth of the Functional Flours Market.
Detailed analysis of the Strength, Weakness, and Opportunities of the prominent players operating in the market will be provided in the Functional Flours Market report.
Stringent government rules in terms of food safety to produce gluten-free and fortified flours is poised to create hurdles for the Functional Flours Market.
Related Reports :
A. Gluten Free Food Market
B. Sugar Substitutes Market
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