New York, June 28, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Flour Global Market Report 2023" - https://www.reportlinker.com/p06463968/?utm_source=GNW
, and US Durum Milling Inc.
The global flour market is expected to grow from $96.51 billion in 2022 to $102.99 billion in 2023 at a compound annual growth rate (CAGR) of 6.7%.The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The flour market is expected to reach $125.33 billion in 2027 at a CAGR of 5.0%.
The flour market consists of sales of white whole wheat, semolina, rye, and barley flour.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Flour refers to a product made of finely ground grains.It is a basic ingredient in baked goods and is used in a variety of food products.
Wheat grain flour tends to be ideal for baked goods that require a spongy structure.
Asia-Pacific was the largest region in the flour market in 2022. The regions covered in flour report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of flour are wheat, maize, rice, oats, and others.Wheat flour refers to a type of flour that is made from whole grains and includes every component found in wheat kernels.
The various forms include wet and dry. These are sold through various sales channels such as direct, and indirect, and are used in various applications such as noodles and pasta, bread and bakery products, animal feed, wafers, crackers, and biscuits, non-food applications, plastics, biomaterials, and glue, others.
The rise in the consumption of bakery products is expected to propel the growth of the flour market going forward.Bakery products refer to goods that are often made from flour or other grains.
Bakery producers are increasingly altering their product offerings to accommodate changing consumer tastes and requirements such as less fat and high nutritional value food items.These foods are high in calories and nutritional value.
Due to these advantages, there is an increasing demand for bakery items, which is likely to enhance the cookies and crackers market. For instance, in October 2022, according a stats sourced from Euromonitor International, 2022 published on Government of Canada offical webiste, retail sales of baked goods in US reaching $67.9 billion in 2021 and is expected to reach US$75.8 billion in 2026.. Therefore, the rise in the consumption of bakery products is driving the growth of the flour market.
Product innovation is the key trend gaining popularity in the flour market.Major companies operating in the flour market are focusing on developing new products.
For instance, in June 2021, Ulrick & Short, a UK-based manufacturer of clean-label, additive-free ingredients, launched a new functional flour with a new ingredient, FazendaTM Nutrigel.The unique feature of this functional flour is its ability to enhance viscosity, texture, and structure in gluten-free bakery applications.
Nutrigel is useful in both sweet and savory bakery applications, from bread and baked goods to cakes, muffins, and gluten-free batters and coatings.
In December 2021, Ardent Mills, a US-based flour-milling and ingredient company, acquired Firebird Artisan Mills for an undisclosed amount.The acquisition enhances the specialized ingredient and gluten-free solutions offered by Ardent Mills, adds supply chain assurance, and strengthens the skills of Ardent Mills’ top R&D, technical, food safety, and quality assurance teams.
Firebird Artisan Mills is a US-based producer of gluten-free baking mixes and a variety of novel flours.
The countries covered in the flour market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The flour market research report is one of a series of new reports that provides flour market statistics, including flour industry global market size, regional shares, competitors with a flour market share, detailed flour market segments, market trends, and opportunities, and any further data you may need to thrive in the flour industry. This flour market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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