Global enriched flour market is valued at 144.87 billion registering a CAGR of 7.22% as per the forecast period.
Flour is the form of ground uncooked cereal grains, seeds, or roots that turns to be powder. Under the cereals, the flour mainly comes from wheat. However, there are a variety of raw materials from which the flour can be milled such as rice, legumes, nuts, corn, dried fruits, and vegetables. The concept of enriched flour came up after a very long time and got massive profits and acceptance among the consumers that have grown the Enriched Flour Market in a very short duration. Enriched flour is processed, and it loses all the specific nutrients when the final product is prepared. The nutrients that are restored include iron, vitamin B, thiamine, folic acid, niacin, and riboflavin. Calcium is also supplemented in the process. The main purpose of enriching the flour was and to replenish nutrients to maintain the nutritional status of the flour when in unrefined form. The fortification process of enriching the product has been introduced where the additional nutrients have been added to the food products.
The concept of enriched flour is gaining a valued status on a global level, as the quality of the white flour is enhanced. With the changing patterns in lifestyles and the awareness for health, consumer demands have increased at a wide level over the past few years. The usage of enriched flour has also incurred in bakery and confectionery products and the overall growth of the enriched flour market is propelling in the global market. The demand for unprocessed flour has been increased so dramatically, as in the older times the wheat was collected and ground for the purpose, however, now with the change in the culture the people prefer to get the processed enriched flour from the market. This has escalated the market shares for the food and beverage industries at an extremely high scale.
The outbreak of the global pandemic has closed the entire world with the lockdown. Different strains of COVID-19 have impacted various industries at a vast level. During the low availability of the raw materials, the end-user has been impacted. As consumer demands have changed over the years, the food and beverages industry witnessed the high production of healthy food items, consumable products, and staple food with longer shelf lives. The increased availability of convenience food products, frozen items, vegetables and fruits, eggs, various grains, and wheat were at the highest demand in the early stages of the crisis.
Presently, the consumable products and the manufacturing industry are facing low consumptions of convenience products. However, the changing lifestyles and awareness of health have changed the market trends. The enriched flour market is booming as the end-consumer is opting for healthy food habits. The business environment and the strategies to promote product consumption have been switched that enhance the supply chain market. Various measures are taken during the manufacturing and the packaging of the product unless it is delivered to the consumer.
The growth of the Global Enriched Flour Market has been increased drastically and the application sector has the maximum demands of the processed foods in various industries.
In 2020, the global enriched Flour Market is valued at $ 144.87 Billion, and it is expected that by 2027, it will value at around $ 144.87 Billion million and will register a CAGR of 7.22% during the forecast period.
The major initiatives to promote functionally enriched flour and the growing application in various food industries have driven the global enriched flour market. There is an increased demand for premium food products and healthy foods have achieved a major share in the global market.
The growing demand for healthier and low-fat alternatives in the market is an opportunity for the enriched flour market. The new emerging economies have come up with products with better qualities.
The major restraining factors for the global enriched flour market are the availability of substitutes that are also present in the market. The changing costs of the raw materials and the stringent government rules are the restrictions for global growth.
In the developing nations, the raw materials are available, however, the lack of infrastructure and fewer technological resources is a major challenge. The time constraints to develop the products are a challenging factor.
The Global enriched flour market is valued at 109.62 billion registering a CAGR of 7.22%. The Confectionary and Bakery segment witnessed a CAGR Of 7.54% as per the forecast period. The cereal production is projected to achieve a major share of 70.8% in the global market. The vitamins segment is anticipated to dominate the global market as per the forecast period.
The Global enriched flour market is segmented based on Enrichment, Source, Application, and Region.
Based on the enrichment, the vitamin segment is significantly booming in the market in past years and will dominate the enrichment sector in the forecast period.
Based on source, cereals are the most popular source for the enriched flour in the manufacturing domain. The cereal comprises wheat, rice, corn, and others. Among these variants, wheat is the most attractive source for the manufacturing industries. The frozen food market is growing, and pre-cooked foods are cost-effective and quick to serve.
Based on application, the bakery and confectionery market is growing so rapidly. Due to busy and hectic lifestyles, the consumers prefer to eat quick meals, and this has grown the overall market. The demand and supply chain market will excel at a high rate during the forecast period.
The regional analysis of the global enriched flour market is segmented into the Asia Pacific, North America, Europe, Middle East, and Africa, and Latin America,
Out of the above regional segmentation, North America is accounting for 30.8% of the market share in the past years and is expected that the dominance of the region will continue in the forecast period. Rapid advancements in flour food products have been increased with the new advancements in packaging and production.
The APAC region and the other developing economies will expand at a high pace of 7.86% in the forecast period. The increased parameters of the products' taste, quality, and source of the enriched flour will propel the global market.
In the Global Enriched flour market, various factors are required for the players to maintain maximum profit shares. The major tasks are barriers in the market entry, earning the loyalty of the customers, the differentiation in the products, and the access to the differentiation channels are analyzed for the new entrants to flourish their scopes in the Global Enriched Flour Market.
Some of the major key players in the global enriched flour market are mentioned below:
The report discussed the market size with a detailed analysis of the growing trends, changing lifestyles, industry size, and the competitive landscapes. The demand and supply chain market and the industrial analysis in terms of environment, market size, and the global competition. In the forecast period, the Enriched Flour Market has introduced various new strategies, cost-effective and better-quality products.
The fastest-growing regional market in the Asia-Pacific region is expected to have maximum profits as the population of developing nations increases and the eating habits that are adopted which is leading to a rise in the global market. The complete geographical landscapes have been described as per the forecast period. The baked products are more preferred these days so the requirements of the raw material will always increase. Such factors are described thoroughly that are the reasons for the Global Enriched Flour to achieve maximum shares and revenues in the market.
The global Enriched Flour market is expected to register a CAGR of about 7.22% in the forecast period.
The application segment is providing the highest market share to the Enriched Flour market.
The APAC region will propel the market with maximum market shares with the high production and consumption of Enriched Flour will increase in the market.
Below are the key players in the Enriched Flour market: ● Archer Daniels Midland ● Cargill ● Associated British Foods ● Ingredion Incorporated ● The Hain Celestial Group ● General Mills ● Bunge Limited ● The Scoular Company ● Parrish and Heimbecker ● Knappen Milling ● The Caremoli Group ● SunOpta ● Limagrain ● Unicorn Grain Specialties B.V. ● AGRANA Beteiligungs - AG ● SunOpta ● Parrish and Heimbecker Ltd.