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Flatbread Market 2019 Growth with Top Companies like Kronos, Evron Foods Ltd., California Lavash, GRUMA, S.A.B. de C.V, La Brea Bakery, Tyson Food Inc.

03-27-2020 10:54 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Allied Market Research

/ PR Agency: Allied Market Research
Flatbread Market

Flatbread Market

The global flatbread market size was valued at $38.8 billion in 2018, and is estimated to reach $62.8 billion by 2026 with a CAGR of 6.2%. A flatbread is made with water, flour, and salt and exists in various cultures throughout the world. The thickness of the bread can range from a few millimeters to a few centimeters. Moreover, rather than using a spoon or fork, many people use a flatbread to scoop or wrap food. Multigrain variants of flatbread are gaining popularity owing to increased health awareness. Various types of flatbreads are prepared by pouring semi-fluid batters onto cooking plates. These batters are often obtained from gluten-free cereals like rice, sorghum, teff, maize, or black beans, which are usually fermented.

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The flatbread market has seen upswing in innovation in the last few years. IoT enabled robots have been launched across the world which completely automates the process of making flat breads. Furthermore, demand for flatbreads that are Non-GMO with no artificial preservatives, chemicals, dough conditions, or gums have gained high traction in the recent years.

In addition, increase in number of quick service restaurants which is also known as a fast food restaurant have created a positive impact on the consumption of flatbread. This restaurant is usually part of a franchise or restaurant chain operation, which provides standardized ingredients or partially prepared foods. Moreover, increase in attraction of millennials and gen Z toward quick service restaurants owing to the innovation in food products, restaurants, themes, and others result in the growth of the market. In addition, increase in busy lifestyle of the consumers along with rise in disposable income and availability of ready-to-eat food products drive the growth of the flatbread market. However, keeping flatbread moist, soft, and mold-free has been a top issue for the stakeholders. Moreover, flatbreads are also spoiled through microbial growth, oxidation, discoloration, and also due to moisture loss, which results in affecting the flatbread market growth.

In addition, introduction of clean label in flatbread focuses on avoidance of additives, artificial colors, chemicals, artificial flavors, GMO's, high fructose corn syrup, and hydrogenated oil. Moreover, clean label is a consumer driven movement, which demands a return to real food and transparency through authenticity. The regulations associated with flatbread products related to various ingredients used in the process, food hygiene, health claims, and others fosters the growth of the market. Furthermore, introduction of clean label creates a trust factor within the consumer owing to which they can rely on manufacturers of food, which also fuel the growth of the flatbread market share.

The increase in penetration of various online portals in developing regions and the rise in number of offers or discounts which attracts the consumer to purchase flatbread through online channel augment the growth of the flatbread industry. Moreover, online sales channel has increased the consumer reach owing to which it has evolved as a key source of revenue for many companies. Furthermore, the online sales market is expected to expand in the near future due to rapid growth in online and mobile user customer bases in emerging markets. Increase in e-commerce sales, improvements in logistics services, ease in payment options, and the facility to enter new international markets for major brands further boost the flatbread market.

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Leading Key Players:

Kronos
Kontos Foods Inc.
Klosterman Baking Company
Evron Foods Ltd.
California Lavash
GRUMA
S.A.B. de C.V
La Brea Bakery
Ol Mexican Foods Inc.
Tyson Food Inc.
Nina Bakery Europe

Key Findings of the Study:

Based on product type, the tortilla segment dominated the global market in 2018, and is expected to retain its dominance throughout the flatbread market forecast period.
Depending on product type, the others segment accounted for highest share in the flatbread market analysis in 2018, and is projected to grow at a CAGR of 10.2% from 2019 to 2026.
By distribution channel, the business-to-business segment was the major shareholder in 2018, and is projected to register a CAGR of 5.8% from 2019 to 2026.
Region wise, Europe is expected to grow at a CAGR of 6.7 from 2019 to 2026.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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