Specialty Flours Market Size, Share Analysis And Forecast By 2033

The Business Research Company recently released a comprehensive report on the Global Specialty Flours Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The specialty flours market size has grown rapidly in recent years. It will grow from $10.91 billion in 2023 to $12.02 billion in 2024 at a compound annual growth rate (CAGR) of 10.2%. The growth in the historic period can be attributed to expansion of artisanal and specialty bakeries, ethnic and international cuisine trends, innovation in food product development, rise of home baking trends, focus on sustainable and organic products.

The specialty flours market size is expected to see rapid growth in the next few years. It will grow to $17.98 billion in 2028 at a compound annual growth rate (CAGR) of 10.6%. The growth in the forecast period can be attributed to functional flour trends, plant-based diets and veganism, adoption of ancient grains, custom blends and mixes, investments in sustainable sourcing, focus on gut health. Major trends in the forecast period include innovation in gluten-modified flours, online retail channel growth, clean label and non-gmo trends, focus on sustainable and ethical sourcing, advancements in milling technology, health and wellness messaging.

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Market Drivers and Trends:

The increase in demand for health trend is expected to propel the growth of the specialty flours market going forward. A health trend refers to a popular or prevailing movement or shift in consumer behavior and preferences related to health and wellness. Specialty flours are versatile and can be adapted to a wide range of dietary needs and preferences, aligning with various health trends and providing options for individuals with specific nutritional goals. These flours contribute to the development of healthier and more diverse food choices for those looking to maintain or improve their overall well-being. For instance, in March 2022, according to the Office for National Statistics, a UK-based government body, most people in the UK (75.3% of males and 75.7% of women) said they were in good or very good health. Therefore the increase in demand for health trend is driving the growth of the specialty flours market.

Product innovations are a key trend gaining popularity in the specialty flours market. Major market players are developing innovative products to sustain their position in the specialty flour market. For instance, in March 2021, Ardent Mills, the premier flour milling, and ingredient company launched the Ket*o Certified Net Carb Flour Blend. The new product is the industry's first major net carb flour blend for ke*to and low net carb baked applications. The innovative formulation can be used as a replacement for conventional flour without compromising taste, texture or functionality.

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Major Key Players of the Market:

Cargill Inc., King Arthur Flour Company Inc., Giusto's Specialty Foods LLC, Swiss Bake Ingredients Private Limited, General Mills Inc., Lindley Mills Inc., MAURI, Bob's Red Mill, The Scoular Company, AGRANA Beteiligungs-AG, Archer-Daniels-Midland Company, Natural Foods and Rogers Food Limited, Conagra Brands Inc., Capricorn Food Products India Limited, Alfa Laval AB, Capuzzo SRL, Freudenberg Group, Saraf Foods Limited, Bunge Limited, Associated British Foods plc, The Hain Celestial Group Inc., SunOpta Inc., Parrish and Heimbecker Limited, Rogers Foods Limited, The Caremoli Group, Unicorn Grain Specialties B.V., ITW Food Equipment Group, ITC Limited, Ingredion Incorporated, CerealVeneta S.r.l.

Specialty Flours Market 2024 Key Insights:

• The specialty flours market size is expected to see rapid growth in the next few years. It will grow to $17.98 billion in 2028 at a compound annual growth rate (CAGR) of 10.6%.
• Surging Demand For Premium Foods Drives Specialty Flours Market Growth
• Innovative Products Reshaping The Specialty Flours Market
• North America was the largest region in the specialty flours market in 2023

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