Global Flour Market (2020-2026): Key Segmentation, Trends, And Forecasts – 6Wresearch
Global Flour Market Overview
The global flour market is estimated at USD XX million in 2016 and is forecasted to reach USD XX million by 2021, growing at a CAGR of XXXX% over the period 2016-2021. The white flour market is dominant and accounts for more than two-thirds of the total market share in terms of value. Brown flours occupy a smaller share but are gaining popularity owing to their health benefits.
Global Flour Market Segmentation
Geographic segmentation
Geographically, the global flour market has been segmented into five regions: North America, Europe, Asia Pacific (APAC), Latin America, and Middle East & Africa (MEA). North America dominates the regional Flour markets with a share of almost two-thirds of the total volume sold in 2016. Growth prospects in APAC region are also positive due to increasing consumer preferences for healthy food items and rising demand from bakery industry players in China and India. MEA region is expected to grow at a faster rate as compared to other regions owing to high population growth rates across countries in this region.
Product segmentation
Flour types analyzed include:
- White flour
- Brown flour
- Baker’s flour
- Pastry flour
There are a number of other types of flours such as:
- All-purpose flour
- Wheat germ flour
- Unbleached all-purpose flour
- Bleached all-purpose flour
- Organic flours
- Semolina
- Chickpea Flour
- Other types of flours such as: Rice Flour, Potato Flour, Cornstarch, etc.
Global Flour Market Size
The flour market size is expected to grow at a CAGR of XXXX% during the forecast period 2017-2021. Rising demand from key regions such as APAC and EMEA is anticipated to drive the market growth. Growing population and increasing consumption of healthy foods are two key factors driving the flour market in the coming years. Factors such as rising livestock production, growing bakery industry, and rising demand for gluten free products are also expected to fuel the growth of the flour market in the near future. The import/export Bilateral Trade is likely to be major driver for this market segment over the forecast period 2017-2021.
Demand and Supply of Global Flour Market
The global flour market has been experiencing sluggish growth in recent years, as a result of rising prices and falling consumption. In 2016, the global flour market was worth $XXXX billion. The market is projected to reach $XXXX billion by 2021, but will experience a decline thereafter owing to rising production costs and stiff competition from other food commodities.
In terms of demand, the increasing population and rising incomes have led to an increase in the demand for bread and pasta products. This increase in demand has been partially offset by declining consumption of these products in some parts of the world owing to changing eating habits and preferences among consumers.
In terms of supply, there has been a rise in wheat production due to rising prices for inputs such as fertilizers and pesticides. However, this has not been sufficient to meet the increasing demand for flour worldwide. This shortfall is primarily due to increased production costs for wheat crops, which are estimated at around XX%. Additionally, there is a shortage of skilled labor required for wheat farming, which is resulting in higher wages being paid per hectare.
Distribution of Global Flour Market
The market is projected to grow at a CAGR of XXXX% during the forecast period 2017-2022. This growth is mainly driven by increasing demand from food and beverage industries. However, intense competition among various players in the flour market is restraining growth prospects.
The key players in the global flour market are Archer Daniels Midland Company (ADM), Bunge Limited, Louis Dreyfus Company, Nestle S.A., and White Wave Foods Inc. ADM dominates the global flour market with an estimated share of about XX% in 2015. Other prominent players in the global flour market include Bunge Limited (XX%), Louis Dreyfus Company (XX%), Nestle S.A. (XX%) and White Wave Foods Inc. (XX%).
Key trends influencing the growth of the flour market are:
- increasing demand for healthy food products;
- rising awareness about gluten free diets; and
- rise in popularity of high fiber wheat varieties.
Economic Impact of Global Flour Market
The flour market is estimated to be worth $XXXX billion in 2020. This is down from a value of $XXXX billion in 2018, due to an increase in the price of wheat over the past two years. The overall trend for the global flour industry is positive, with growth expected to reach XX% annually through 2020. However, this growth is likely to be slowed by fears over food security and geopolitics.
Wheat production has been increasing globally as part of efforts to meet growing demand, but this has resulted in prices rising sharply. This has had a negative impact on the prices paid by consumers and manufacturers alike, with global flour exports falling by XX% between 2018 and 2020. In addition, there have been concerns over food security and geopolitical tensions, which are likely to dampen growth in the global flour market through 2020.
Conclusion of the Flour Market
The market is expected to grow at a CAGR of XXXX% during 2020-2026. The rising demand for healthy food and increasing awareness about the benefits of a balanced diet are some key factors driving the growth of the global flour market. Additionally, technological advancements in wheat milling are also propelling the growth of this market.