June 06, 2022 13:18 ET | Source: Fairfield Consultancy Services OPC Pvt Ltd Fairfield Consultancy Services OPC Pvt Ltd
LONDON, June 06, 2022 (GLOBE NEWSWIRE) -- Global wheat flour market is poised for steady growth prospects between 2021 and 2026. The latest report released by Fairfield Market Research estimates wheat flour market size to reach over US$274.5 Bn toward the end of forecast period. Bread making will continue to register the maximum wheat flour consumption and bread flour will thus remain the top-selling wheat flour type. The report also states that the rise of artisanal bakery will play a crucial role in the market build-up. HoReCa industry’s growth is also expected to bode well for the growth of wheat flour market. Popularity of F&B trends like whole-grain, clean-label, natural further keep the sales buoyant. However, surge in demand for gluten-free foods is projected to remain a major challenge facing wheat flour market players, says the report.
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Bread Remains the Largest End-use Segment, Consumption by Bakery and Confectionary Surges
Global food industry has been experiencing increasing inclination of brands, as well as consumers toward wheat-based flour varieties. Pasta, and noodles will remain some of the prominent categories registering notable wheat flour consumption. However, bread making is likely to remain the largest revenue generator for what flour producers, with more than 55% of the total consumption in global market. Bakery and confectionary, capturing more than 22% share of the market revenue, will remain another important segment in market. Bakery predominantly remains the key segment recording a surge in uptake of wheat flour varieties. Soaring demand for popular bakery segments offers a strong push to wheat flour consumption. On the other hand, despite ascending preference for refined wheat flour for recipes like pancakes, premixes, and ready-to-cook products, a majority of revenue is generated by conventional wheat flour.
Asia Pacific Remains the Global Leader in Wheat Flour Space
The report suggests that Asia Pacific currently leads the global market space and will continue to spearhead throughout the forecast period, exhibiting a promising 4.3% CAGR by the end of 2026. The exponential expansion of food industry, unprecedented progress of the bakery sector, and phenomenal prospects of HoReCa sector across the region are expected to accelerate wheat flour consumption here. With fast-developing economies witnessing the boom around eating out trend, wheat flour producer brands will continue to discover new revenue generation opportunities across Asia Pacific. The flourishing health food trend, and rising popularity of flavoured food products will further complement this scenario. Asia Pacific accounts for over a third of the global market revenue, whereas North America, and Europe collectively make up for around half the market value. The Middle East is also estimated to emerge as a lucrative market with swelling demand for innovative indulgent bakery snacks.
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Key Players – Wheat Flour Market
The report offers exclusive strategic insights in its competition analysis section that sheds light on some of the globally leading players in wheat flour market landscape. This section of the report intends to reveal the most actionable insights for potential market participants seeking accurate financial, and strategic information about the competition. Archer Daniels Midland Company, Ardent Mills, LLC, General Mills, Inc., King Arthur Flour Co., Grain Craft, North Dakota Mill, Bob’s Red Mill, George Weston Foods Ltd., Natural Foods, Allied Pinnacle Pty Ltd., Italgrani USA, Miller Milling, Hodgson Mills, Inc., Minot Milling, Wudeli Flour Mill Group, ADM Company, Manildra Milling Pvt. Ltd., Acarsan Flour, and Korfez Flour Mill constitute some of the market leaders in wheat flour space.
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