According to the market research study by Transparency Market Research, in 2017, the global market for commercial flour was worth US$ 44,008.3 Mn and is projected to reach a value of US$ 52,000 Mn by the end of 2025. The market is likely to register a steady 2.20% CAGR between 2017 and 2025.
Rising demand for bakery products and the increasing disposable income of consumers to accelerate the growth of the global commercial flour market in the near future.
The high consumption of cookies, pizzas, and cakes among the younger generation to offer potential growth opportunities for the market players in the next few years.
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High Consumer Base to Encourage Growth of Asia Pacific Market
The global market for commercial flour has been categorized on the basis of geography into Asia Pacific, the Middle East and Africa, Latin America, North America, and Europe. Among these, Asia Pacific and Europe are projected to witness high growth in the next few years. The presence of a large consumer base is one of the major factors estimated to encourage the growth of the Asia Pacific market in the next few years. In addition to this, the rising demand for bakery products and the rising per capita consumption of commercial flour are some of the other factors that are projected to accelerate the growth of the Asia Pacific market throughout the forecast period. Furthermore, Europe is estimated to register a healthy growth rate in the next few years, which will be further followed by North America.
The global commercial flour market has been categorized on the basis of product type into corn flour, wheat flour, rice flour, rye flour, and others. Among these, the wheat flour segment is estimated to account for a major share of the global market in the next few years. The rising demand for products that are made using wheat flour is one of the key factors that is estimated to accelerate the growth of this segment in the next few years. As per the research study, in 2017, this segment held a share of 92.2% of the overall market and is estimated to remain in the similar position throughout the forecast period.
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Rising Demand for Bakery Products to Encourage Market Growth
Consumers, across the globe, are looking for improved, healthier, ready-to-eat, and easy-to-cook options, owing to their hectic lifestyle. Baked products, such as bread and cookies are consumed at a regular basis, especially in the U.S., which has resulted in a high demand for commercial flours. The rising diet and health concerns among people and the increasing preference for healthy food products has contributed significantly towards the rising demand for corn and rice flours as they are gluten free. Furthermore, the rising demand for cookies, pizzas, cakes, pastries, and others and the rapid development of the baked products market are some of the other factors that are estimated to enhance the growth of the overall market in the coming years.