The global functional flours market is anticipated to observe noteworthy growth over the forecast period. Functional Flours are the particular type of products which are hydro-thermally preserved for a wide range of applications in the food and beverages industry. The functional flours are produced and treated to have improved nutrient qualities with health related benefits. The products that are likely to be made from genetically modified and other type of grains such as wheat, rice, maize contain less gluten than the conventional wheat flours. Functional flours are favoured over the conventional product alternatives owing to the health benefits together with growing awareness regarding personal health among the consumers.
Market Dynamics- Global Functional Flour Market
The market is principally driven by the improved consumer spending together with the favorable government regulations imposed in order to promote the consumption of healthy products primarily in Europe and North America. In addition, there is an increase in trade of the functional flour complementing the growth of the industry over the forecast period.
Functional Flour Market Segmental Overview
The study analyses Global Functional Flour market based on type, application, source and geography.
- The two major types of functional flours available to the customers are conventional and specialty. The conventional functional flour segment is likely to hold majority share of the market owing to easy and wide availability.
- Major applications of this market include bakery, soups & sauces, ready-to-eat products etc. Surging population and shifting consumer preferences is likely to result in a swift growth for ready-to-eat food products.
- Functional flour is obtained majorly from cereals and legumes. The demand for specialty flours is expected to rise on account of superior health benefits coupled with high nutritive value of the product.
Functional Flour Market by Geography
Geographically, the study is comprised of the key countries of North America, Europe, Asia-Pacific and Rest of the World. Europe is anticipated to dominate lead by Germany and Spain. The market is driven by the increasing demand for ready-to-eat food products where it is used extensively as a key ingredient. Due to the surging processed food market of the region, North America market is expected to show significant growth in near future. Swiftly rising popularity of ready to eat convenience food, coupled with the growing awareness of health benefits in the developing regions like Asia-Pacific has seen a spike in demand from countries like India and China. Moreover, Asia Pacific is projected to be growing at a faster rate during the forecast period owing to increasing population and rising number of market entrants. The market is projected to display constant growth in both developed and developing regions.
Global Functional Flour Market-Key Players
The key competitors of this market include Cargill, Inc., Archer Daniels Midland Company, Bunge Limited, Associated British Foods PLC, General Mills, Inc., The Scoular Company, Agrana Beteiligungs-AG, The Hain Celestial Group Inc., Sunopta, Inc., Parrish and Heimbecker, Limited among others.
