According to the market research study by Transparency Market Research, the global market for functional flour is expected to reach a value of US$126.8 bn by the end of 2025. The market is projected to register a healthy 6.80% CAGR between 2017 and 2025.
A significant rise in the demand for healthy food products is one of the major factors encouraging the growth of the global functional flour market in the near future.
Players in the global functional flour market to focus on untapped opportunities in developing economies across the globe.
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The global functional flour market is progressing at a healthy clip on the back of increasing consumption of health-benefitting foods. Consumers worldwide are striving to adopt a combination of grains, cereals, lentils in their everyday food for essential nutrients. In addition, increasing gluten allergies is stoking demand for non-wheat based flour. This is stoking demand for functional flours that are composed of soy flour, rye flour, and oat flour among others. Rising consumer spending on ready-to-eat bakery items available in multigrain variants is aiding the growth of functional flour market.
North America to Witness Healthy Growth in Coming Few Years
The global market for functional flour has been classified on the basis of geography into the Middle East and Africa, Europe, Asia Pacific, North America, and Latin America. In the last few years, North America accounted for a large share of the global market and is estimated to remain in the leading position throughout the forecast period. However, North America is considered as a mature market and is expected to witness a decline in the market share in the coming years. Furthermore, Europe is expected to witness a healthy growth in the next few years. The developing economies in Asia Pacific holds potential growth opportunities for the market players, which is estimated to accelerate the growth of the overall market in the next few years.
On the basis of raw material, the global functional flour market has been categorized into maize, wheat, rice, and others. Among these, the wheat segment is expected to lead the global functional flour market in the next few years. This segment is likely to remain in the similar position in the coming years, thanks to the rising demand for food products using wheat. According to the research study, this segment is estimated to reach a value of US$51,457.5 mn by the end of 2025. Furthermore, the maize segment is projected to register a healthy growth rate in the next few years.
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Rising Demand for Healthy and Convenience Foods to Accelerate Market Growth
The rise in the consumption of healthy and convenience food products and the rise in the demand for premium food products are some of the key factors that are estimated to encourage the growth of the global functional flour market in the next few years. The rising number of initiatives promoting functional flours and the rising demand for healthier and low fat alternatives are estimated to accelerate the growth of the overall market in the coming years. On the other hand, the fluctuating commodity prices and the stringent government rules and regulations are predicted to restrict the growth of the market in the coming years. Nonetheless, the rising global trading is projected to offer potential growth opportunities for the market players in the near future.