Functional Flours Market

Functional Flours Market Size

[170+ Pages Research Reports] to surpass USD 168.5 billion by 2032 from USD 72.6 billion in 2021 at a CAGR of 8.0% throughout the forecast period 2022-32

Functional Flours are the special products that undergo hydrothermal processing for a wide range of uses in the food and beverage sector. It is used to thicken gravies, soups, stews, and sauces. Functional flour is used to create bakery goods such as cakes, bread, snacks, nutrition, and food. Depending on their source and usefulness, these flours can be used in a wide variety of applications. As compared to regular flour, functional flours contain more nutrient. They are the essential components of pasta, bread, and pastries and are milled by using various grains. They include protein, which improves the texture and volume of the dough. These goods' useful qualities include foam swelling capability, stability, gelatinization, and least gelation concentration.

Market Highlights

The Functional Flours Market is expected to project a notable CAGR of 8.0% in 2032.

Functional Flours to surpass USD 168.5 billion by 2032 from USD 72.6 billion in 2021 at a CAGR of 8.0% in the coming years, i.e., 2022-32. Over the forecast period, the Functional Flours Market is anticipated to be driven by rising premium food product demand as well as rising need for convenient & healthy baking items. Moreover, the Functional Flours Market is anticipated to grow in the forthcoming years due to the increased demand for gluten-free goods and the preference of consumers with wheat allergies, celiac disease, and gluten intolerance for specialty flour.

Figure - Market Analysis of Functional Flours Market

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Functional Flours: Segments

The Specialty Flours segment is expected to grow with a higher CAGR during 2022-32

Functional Flours Market is categorized on the basis of Type into Specialty Flours, Pre Cooked Flours, and Others. Over the projected period, the Specialty Flours category is anticipated to increase with the maximum CAGR. The purpose of pre-cooked flours is to increase their nutritional value while preserving the functional and sensory qualities in baked goods like cookies, tortillas, biscuits, and crackers. Breakfast cereals and bakery goods both frequently use these flours. The widespread use of pre-cooked flours in breakfast cereals and bread goods contributes to the market speedy growth.

The Ready-to-Eat Products segment is expected to grow with a higher CAGR during 2022-32

Functional Flours Market is categorized on the basis of Application into Bakery Products, Sauces and Soups, Ready-to-Eat Products, and Others. Over the projected period, the Ready-to-Eat (RTE) segment is anticipated to gain the largest market share. Breakfast cereals, pastas, snacks, ready-to-eat meals, and nutritional bars are just a few of the Ready-to-Eat (RTE) products. Functional flours are a key component of many RTE products, which are accessible in the market in a variety of forms. In order to save time due to preparation of food and beverages at home, hectic work-life of people who desire on-the-go meals, this segment is gaining traction.

Figure - Market Analysis of Global Functional Flours

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Market Dynamics

Growth Drivers

The Growing Health-Consciousness among Consumers and Multiple Applications

The desire for specialty, fortified foods, and gluten-free from health-conscious customers is one factor that is anticipated to support the growth of the Functional Flours Market. Customers who have celiac disease, wheat allergies, gluten intolerance, and other diseases prefer specialized flour intake, which is predicted to propel the growth of the Functional Flours Market throughout the analysis. As functional flours have numerous uses in bakery goods, the global market is growing rapidly due to the bakery industry's explosive growth.

Rising Number of Promotional Activities by Governments for the use of Functional Flours

Governments and organizations are supporting the use of functional flours due to nutritional deficiencies in people that are becoming more common among larger populations. As a result, they are encouraging the use of functional flours. Due to these measures, functional flours are being accepted more widely among processors. The use of functional flours is also being promoted through advancements in business, trade, technology, and marketing that support flour fortification.

Restraint

High Costs Associated with Functional Flours

Due to the Russia-Ukraine war, prices for raw materials including pulses, grains, and flour are at an all-time high. Moreover, some significant producers, like India, are primarily concerned with meeting their own needs and limit wheat exports for business-to-business transactions. The weather, rising fuel prices, and the ongoing conflict in Ukraine are anticipated to have an impact not only on the 2022 wheat harvest but also on the sowing for 2023 and even 2024, according to International Flavour & Fragrances (IFF). Such elements would increase the cost of flour, which would restrain the market growth for functional grains.

Recent Developments

• Parrish & Heimbecker, Limited received two sizable infrastructure projects at Goderich Terminal in August 2020. With industry-leading dust suppression technology, the new vessel-loading spout can load vessels. The special spout uses electronic sensors to monitor and regulate the grain flow at the discharge end.
• A retail line of whole wheat flour was launched by Cascade Organic Flours, a significant manufacturer of whole wheat in the United States, in April 2021. Whole wheat flour retail bags of 5 pounds will be offered at the store.
• The GoodMills Company invested 14.5 million euros in new refining equipment for legume flours on June 20, 2021. This investment is the company's largest brand investment in a new category in the UK.

Functional Flours: Key Players

• Cargill Incorporated

Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis

• Associated British Foods plc
• General Mills Inc.
• Archer Daniels Midland Company
• Bunge Limited
• The Scoular Company
• AGRANA Beteiligungs-AG
• The Hain Celestial Group Inc.
• SunOpta Inc.
• Parrish and Heimbecker Limited
• BK Sitani Roller Flour Mills
• Rudra Flour Mills
• Samrat India
• Ardent Mills
• Muehlenchemie
• Other Prominent Players

Functional Flours: Regions

Functional Flours Market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. Asia-Pacific region registers a significant share of the market due to easy accessibility and availability of functional flours in the region. The Asia-Pacific region is anticipated to experience the fastest CAGR growth in the market for functional flours. Asia-Pacific has a very low per capita consumption of functional flours while having a large population; this is owing to the region's low awareness of processed food products, which has a negative impact on sales.

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Impact of Covid-19 on Functional Flours Market

The COVID-19 pandemic was observed to be impeding the market growth. Its effects were particularly severe during the first few months of the lockdown, when major actors and organizations throughout the world reported being unable to address logistical issues despite the mounting demand for functional flour ingredients. While the food and beverage industry continued to face fresh daily issues, supply chain disruption being the most significant of them, the market has been improving, making the impact over the later months of 2020 minimal.

Functional Flours is further segmented by region into:

• North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
• Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America
• Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe
• Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
• Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa and Rest of MENA

Functional Flours report also contains analysis on: Functional Flours Segments:

• By Type
  • Specialty Flours
  • Pre Cooked Flours
  • Others
• By Source
  • Cereals
  • Legumes 
• By Application
  • Bakery Products
  • Sauces and Soups
  • Ready-to-Eat Products
  • Others 
• Functional Flours Market Dynamics
• Functional Flours Market Size
• Supply & Demand
• Current Trends/Issues/Challenges
• Competition & Companies Involved in the Market
• Value Chain of the Market
• Market Drivers and Restraints

Functional Flours Market Report Scope and Segmentation

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