Pune, India, Feb. 10, 2022 (GLOBE NEWSWIRE) -- The global wheat flour market size was USD 155.08 billion in 2020. The market is projected to grow from USD 160.66 billion in 2021 to USD 210.77 billion in 2028 at a CAGR of 3.95% in the 2021-2028 period.
This information is provided by Fortune Business Insights, in its report, titled, “Wheat Flour Market, 2021-2028.”
According to our expert analysts, the wheat flour industry is growing rapidly across the globe. Consumer demand for baked goods such as bread, cakes, pastries, biscuits, and cookies has expanded dramatically, driving up demand for wheat-based flour across the food industry. In the coming years, the growing use of wheat-based flour in additional applications such as noodles and pasta are predicted to propel the flour market.
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List of Key Players Mentioned in the Report:
- Ardent Mills (Colorado, U.S.)
- Wudeli Flour Mill Group (China)
- ADM Company (Illinois, U.S.)
- General Mills (Minnesota, U.S.)
- Allied Pinnacle Pty Ltd. (NSW, Australia)
- Manildra Milling Pvt. Ltd. (NSW, Australia)
- Acarsan Flour (Turkey)
- Korfez Flour Mill (Delaware, U.S.)
- George Weston Foods Ltd. (Toronto, U.S.)
- Hodgson Mills, Inc. (Toronto, U.S.)
COVID-19 Impacts:
Growing Wheat Production to Drive the Demand
Wheat, like all other grains, is regarded as a necessary sustenance, as are its by-products flour and bread. Any price adjustment has little effect on demand for or wheat. Wheat has had a limited direct impact due to the COVID-19 pandemic.
According to the International Grain Council's most recent study, wheat production is expected to exceed 765 million tons. Therefore, wheat production is predicted to grow by 2 million tons compared to the previous year. This increase in wheat yield is expected to boost wheat-based flour manufacturing in the coming years.
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Segmentation:
On the basis of type
- whole
- refined
Based on application
- bread
- bakery products
- noodles & pasta
By geography
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa
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https://www.fortunebusinessinsights.com/wheat-flour-market-106313
Report Coverage:
The market report examines the industry in depth and focuses on key elements such as the major players, product kinds, and applications. Aside from that, the report provides information on market trends and major industry highlights. Aside from the aforementioned variables, the study covers a number of others that have contributed to the market's recent expansion.
Drivers and Restraints:
Increasing Awareness of Fiber Rich Diets to Stimulate Growth
The demand for whole wheat flour has expanded dramatically due to customer demand for fiber-rich diets. Consumer awareness of the health benefits of fiber-rich meals has resulted in a significant growth in the use of whole flour across various segments of the food business.
Several weight-loss regimens recommend eating whole grain products to minimize the risk of lifestyle-related disorders like obesity, diabetes, and cardiovascular disease. In the coming years, the market is expected to rise due to the growing popularity of fiber-rich baked goods and snacks.
Regional Insights:
The existence of a well-established food and beverage sector in China, and increased spending by enterprises on the development of innovative wheat flour products, are largely responsible for the market's enormous expansion. Consumers' lifestyles have greatly improved as their disposable earnings have increased. Cakes, biscuits, and wheat flour-based premixes are among the luxurious products favored by today's consumers.
The wheat flour market share in Europe is primarily driven by consumer demand for bread and other bakery items. The government has implemented initiatives to increase agricultural productivity, including subsidies to encourage farmers to produce wheat crops more intensively.
Competitive Landscape:
Presence of Prominent Players to Improve Market Position
The global market is fragmented, with large players focusing on cooperating with other companies to expand their product line. Furthermore, other prominent competitors are likely to promote the wheat flour market growth by implementing tactics such as mergers and acquisitions, product invention, and facility expansion. The entry of small businesses into the flour industry has a substantial impact on market competition, which has a favorable impact on the market growth.
Industry Developments:
- September 2020: Panhandle Milling, a flour producer based in the United States, has announced the acquisition of the Arrowhead Mills facility in Hereford, Texas. Panhandle Milling hopes to expand its capabilities, products, and specialized packaging solutions by acquiring Arrowhead Mills' assets.
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Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Overview of the Parent/Related Markets
- Industry SWOT Analysis
- Supply Chain and Regulatory Analysis
- Recent Industry Developments - Policies, Partnerships, New Product Launches, and Mergers & Acquisitions
- Qualitative Analysis Related to COVID-19
- Impact of COVID-19 on the Market
- Supply Chain Challenges amidst Pandemic
- Potential Opportunities due to this Global Crisis
- Global Wheat Flour Market Analysis, Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Size Estimates and Forecast
- By Type
- Whole Wheat Flour
- Refined Wheat Flour
- By Application
- Bread
- Bakery Products
- Noodles & Pasta
- Other Applications
- By Region
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa
- By Type
TOC Continued…!
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