The global functional flour market is foreseen to witness impressive growth on account of a drastic shift toward health-benefitting foods and ingredients offering nutritional wellness. As per the research study by Fact.MR, global sales of functional flour are estimated to grow at a CAGR of over 6.5% through 2025, notably driven by the evolving dietary patterns across the globe.
Functional Flour Market- Notable Highlights
ADM bought specific assets of Caterina Foods (US), a key manufacturer of specialty high-protein and gluten-free pastas, in 2016. This acquisition was aimed at expanding the company’s facilities and foray into the arena of specialty pastas made of grains and legumes.
In June 2016, The Scoular Company bought the assets of Tri-Fields Farms. Post this agreement, growers will coordinate and work with staff of Scoular to commercialize soybeans, wheat, corn, rye, & special crops. While Tri-Fields Farms will gain tailwinds from the sophisticated commodity marketing network of Scoular, The Scoular Company would be able to boost as well as diversify its product lines to balance the supply-demand framework.
The report also profiles other key players operating in the functional flour market, including Cargill Inc., Associated British Foods Plc, SunOpta, Inc., The Hain Celestial Group, Inc., General Mills Inc., Parrish and Heimbecker, Limited, ConAgra Foods, Inc., ITC Limited, Bunge Limited, and others.
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Initiatives by governments and associations across the globe in the directions of promoting consumption of functional flour is complementing the market growth. Rising instances of malnutrition or nutrition deficit across both developed as well as developing economies are fuelling such initiatives of promoting consumption of enriched flours, working in favor for growth of functional flour market. For instance, various associations of millers in the Caribbean and Latin America had a crucial role in pushing flour fortification across the key countries.
Another program by the ‘Flour Fortification Initiative’ enabled wide-spread implementation fortification across multiple countries in the Middle Eastern, North African, and Eastern Mediterranean regions. Moreover, leading players, such as Cargill, Incorporated, are joining such initiatives to further extend their support in the same. Awareness created by such initiatives is translating into broader acceptance of enriched flours, thereby fuelling growth of functional flour market. In addition, business developments, technological advances, flourishing trade, and effective marketing in the support of floor fortification are also boosting ROI benefits of manufacturers in the functional flour market.
Rising gravitation toward health & wellness and augmented consumption of health-benefitting foods is creating sustained opportunities for the manufacturers of functional flour. Consumers across the globe are adhering to healthy diets inclusive of cereals, grains, and lentils to meet their nutritional requirements. This, in turn, is creating significant incremental opportunity for the participants of functional flour market.
Rising incidences of gluten intolerance are also inducing shift to non-wheat based and enriched flours, thereby influencing growth of functional flour market. Moreover, increasing consumer propensity for ready-to-eat bakery foods that are available in multigrain variants is also creating favorable grounds for the functional flour market.
As the feature of clean label is mainstreaming across multiple countries, consumer expectations continue to evolve. Amid this dynamic landscape, food manufacturers are vying to continuously innovate and keep up with the evolving trends to create distinguishable products. Evolution of ‘clean label’ is acting as a key differentiator for food manufactures to enhance perceptions of their offerings for bolstering consumer confidence.
In line with the clean label trend, food manufacturers are including flour variants in their products that align well with consumers’ consideration of healthy ingredients, providing fillip to the adoption of functional flour. Food manufacturers are incessantly switching to functional flour for boosting credibility of their product labels, which in turn helps them make their offerings distinguishable on the market shelves.
Functional Flour Market- Additional Questions Answered
Apart from the key insights into the functional flour market, the research study on functional flour market also addresses few of the additional questions answered that include-
What are the prominent macro factors complementing growth of functional flour market?
Which would be the most lucrative application for the participants in the functional flour market?
Which region would stay at the forefront of demand for functional flour over the forecast period?
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