Future Business Opportunities in Africa Wheat Flour Market
A recent study published by Transparency Market Research on the Africa wheat flour market includes Africa industry analysis and opportunity assessment for 2021-2031. The revenue generated from the Africa wheat flour market is estimated to value over US$ 19 Bn in 2021, which is estimated to rise at a CAGR of 5.9%, to reach US$ 34 Bn by 2031.
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Increased Demand among Consumers for Nutritious Alternatives to Drive Africa Wheat Flour Market
The wheat flour fortification may be practiced as part of wheat flour manufacturing when industrially-produced wheat flour is consumed by large population groups across the country. It is a method of adding essential micronutrients, including vitamins and minerals to improve the nutritional quality of the wheat flour products.
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Wheat fortification proves to be beneficial to meet increasing nutritional needs and deficiencies of the population. Regional bodies in African regions are harmonizing fortification standards, as the region is expected to witness a trend in economic growth during the forecast period. Wheat flour is considered as a suitable vehicle for the fortification to improve the nutritional status in this region.
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Healthy Snacking Augmenting Demand for Wheat Flour Products to Drive Growth
Rising health awareness among consumers has led to increased demand for nutritional snacks. Consumers are shifting toward healthy snacks as an alternative for meals, owing to the snackification trend. This has altered both the nutritional and competitive landscape of wheat flour-based snacks. Wheat flour is one of the major ingredients in most of the snacks such as cookies, chips, and crackers. The healthy snacking trend is expected to boost the wheat flour market.
For instance, Campbell, a major snack manufacturer provides a range of veggie Goldfish crackers, in which wheat flour is one of the major ingredients
Increasing Urbanization Leading to Surge in Demand for Fast Food Products in Africa
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Rapid urbanization, increase in disposable income, women being involved in economic activities, and individual habits can be considered as factors leading to the shift of consumer preferences for modern and urban lifestyles instead of traditional lifestyle. Consumers tend to choose readymade food products over traditional food products that are easy to cook and readily available at affordable prices.
The increasing demand for fast foods such as burgers, pizzas, fried meat items, donuts, and others have led to increased demand for various types of flours. Wheat flour is a principle ingredient in the preparation of bread, bakery items, and coating of frozen packed foods.
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