Flour is a powder made by grinding uncooked cereal grains, seeds or roots. It mainly comes from wheat, however, it can be milled from rice, corn, nuts, legumes, and some fruits & vegetables. Depending on the base and extraction rate (the amount of flour removed from the grain) variations within the nutrient content of flour may occur. Enriched flour offers essential vitamin and minerals which is lost in the process of preparation. The purpose of enriching the flour is to reload the nutrients in the flour to match the nutritional status of the unprocessed product. Enriched flour is gaining massive acceptance among the consumers owing to the increasing awareness of malnutrition among the consumers.
enriched
flour Market Forecast:
The global market for enriched flour has been experiencing
high demand for the last few years and is projected to reach USD 109.62 billion
by 2023 compared to USD 72.14 billion in 2017. The growing demand for enriched
flour in various industries is expected to drive the market. The overall
increasing disposable income of the consumer and their evolving buying pattern
over the past few years has led to a surge in the sales of enriched flour during
the forecast period.
Food fortification is gaining momentum at a global level which
is majorly contributing to the growth of enriched flour market. Moreover,
increasing consumption of ready-to-eat food products is boosting the market for
enriched flour. Additionally, manufacturers of enriched flour have adopted
suitable technologies to achieve desired taste and texture according to
consumer’s preferences. The advancements in technology have resulted in the
introduction of a wide variety of enriched flour products to the consumers with
different delivery formats, taste, and sources and thereby driving the enriched
flour market.
Based on the source, legumes segment is expected to witness
the highest growth rate of 7.55% on a global level. On the basis of the
application, bakery & confectionery segment is expected to grow rapidly
during the forecast period. Moreover, on the basis of the enrichment, the
vitamins segment is dominating the market over past years with a leading market
share of 57.1% of the global market.
By Downstream Analysis:
On the basis of the source of enriched flour, the cereals
segment is dominating the market holding a global market share of 70.8%.
However, the legumes segment is expected to be the fastest growing segment over
the forecast period.
On the basis of the application of enriched flour, the bakery
& confectionery segment is dominating the market with a major market share
of 35% in the year 2017. However, the soup and snacks segment is also witnessed
to have substantial growth over the forecast period.
Based on the enrichment, the vitamins segment is dominating
the market with a leading share of 57.1% in the year 2017. However, the
minerals segment is projected to witness higher growth rate over the forecast
period at a CAGR of 7.43%.
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Competitive Analysis:
The major key players in enriched flour are:
- Cargill,
Incorporated (U.S.)
- Archer
Daniels Midland Company (U.S.)
- Associated
British Foods PLC (U.K)
- Ingredion
Incorporated (U.S.)
- The
Hain Celestial Group, Inc. (U.S.)
- General
Mills, Inc. (U.S.)
- Bunge
Limited (U.S.)
- The
Scoular Company (U.S.)
- Parrish
and Heimbecker, Limited (Canada)
- Knappen
Milling Co (U.S.)
- The
Caremoli Group (Italy)
- SunOpta
(Canada)
- Limagrain
(France)
- AGRANA
Beteiligungs-AG (Austria)
- Unicorn
Grain Specialties B.V. (The Netherlands)
Regional Analysis:
Among the regions, North America is dominating the enriched
flour market with over 30.85% of the global market share and is projected to
reach more than USD 33.30 billion by 2023. In North American region, the U.S.
is dominating the market and is expected to grow at the highest rate over the
forecast period. Moreover, Asia Pacific is projected to witness the highest
growth rate during the forecast period, 2017-2023 in which India is expected to
grow at the highest growth rate. In the Asia Pacific region, China is
dominating the market with leading market share of 25.78% in the year 2017.
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