Functional Flours Market : Pin-Point Analysis For Changing Competitive Dynamics

Functional flour is derived from a combination of various kinds of grain and non-grain flour or genetically modified grain, which primarily has low-gluten content than the traditional flour. Functional flour also offers numerous health benefits to consumers which are not provided by traditional flour. It is a mixture of wheat along with non-grain flour, such as soy flour, corn flour and pulse flour, among others. Improved nutrient quantity together with low-gluten content is pushing the demand for functional flour market globally.

The global functional floor market stood at US$70.4 bn in 2016 and is expected to reach US$126.8 bn by the end of 2025. If these figures hold true, the global functional flour market will rise at a positive CAGR of 6.8% between 2017 and 2025.

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Based on raw material, the global functional flour market has been segmented into wheat, maize, rice, and others. Of these, wheat constituted the leading segment with a share of 40.49% in the overall market in 2016. It is further expected to remain dominant through the course of the forecast period. Maize and rise held the second- and third-leading market share, respectively in the same year. These segments are also expected to retain their positions over the forecast period.

By type, the market is classified into pre-cooked flour, specialty flour, and fortified flour. Of these, the fortified flour segment held the dominant share of 41.28% in the overall market in 2016. Over the forthcoming years, the dominance of this segment is forecast to remain intact. Likewise, in terms of product, the market can be segmented into conventional flour, genetically modified flour, and additive based flour. Of these, the lead is expected to remain with genetically modified flour through the course of the forecast period.

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Regionally, North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa are the key segments in the global functional flour market. Among these regions, North America accounted for the leading market share in 2016. The region is witnessing high demand for gluten-free products among consumers. The increasing knowledge about health-benefits derived from functional flour, coupled with the rising demand for bakery products is aiding the expansion of the functional flour market in North America.

However, Asia Pacific is expected to emerge as the dominant regional market exhibiting the leading CAGR of 7.4% between 2017 and 2024. Factors such as the rising disposable income of consumers and increasing willingness to spend on health food, especially in countries such as India, China, and Japan are facilitating the market’s expansion in the region. Besides this, emerging nations in the Middle East and Africa and Brazil are expected to showcase lucrative opportunities.

Major players in the functional flour market are Cargill Incorporated, Archer Daniels Midland Company, The Scoular Company, Associated British Foods plc, SunOpta, Inc., The Hain Celestial Group, Inc., General Mills Inc., Parrish and Heimbecker, Limited, ConAgra Foods, Inc. and ITC Limited.

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