The global functional flour market is anticipated to be valued at USD 79.9 million in 2023, forecast to grow at a CAGR of 9.2% through 2033. The market is to be valued at USD 193.5 million by 2033. Growth is attributed to the increase in demand for premium food products.
| Report Attribute | Key Statistics |
|---|---|
| Growth Rate (2018 to 2023) | 9.2% CAGR |
| Expected Market Value (2023) | USD 76.4 million |
| Anticipated Forecast Value (2033) | USD 185.5 million |
| Projected Growth Rate (2023 to 2033) | 9.2% CAGR |
Functional flours are grain and non-grain flours modified to enhance the values of their individual components for different applications through breeding, blending, and/or further processing. Apart from providing structure and texture to food products, functional flours claim to improve health and provide higher health benefits than those regular flours.
Functional flour also includes flours fortified with vitamins, minerals, herbs, and even with other nutritional components and nutraceuticals. The globally growing food industry, with frequent introduction of innovative and nutritional value products, is the major factor driving the market growth of products like functional flours used as raw materials in various food products.
Factors such as an increase in demand for premium food products and initiatives to promote functional flours will boost the Functional Flour Market growth during the forecast period.
On the contrary, the high cost of raw materials, such as products derived from specialty source crops not native to the region, is a major factor expected to hamper the growth of the Functional Flour Market over the analysis period.
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Factors such as the increasing number of health-conscious consumers demanding specialty, gluten-free, and fortified trends are expected to boost the growth of the functional flour market.
Customers suffering from celiac disease, gluten intolerance, wheat allergies, and another disease are preferring specialty flour consumption. This is, in turn, expected to accelerate the growth of the functional flour market over the analysis period.
As functional flours possess wide applications in bakery products, the rapid growth of the bakery industry is another major factor driving the market growth globally. Food products made using functional flour are low fat, contain more protein and fiber, and have better nutritional advantages than commonly used wheat flour.
Understanding the health benefits offered by different functional flours, various governments are promoting functional flours, and assisting the manufacturers and suppliers.
An increase in demand for premium food products, initiatives to promote functional flours, increasing consumption of convenience and healthy food products, intensification of the global trade of functional flours, growing demand for healthier low-fat alternatives, and emerging economies are some other factors that are anticipated to fuel the growth of the functional flour market during the forecast period.
Stringent government regulations and labeling rules, namely for gluten-free, health claims, and volatile commodity prices are the major challenges expected to hinder the growth of the functional flour market during the forecast period.
In addition, the lack of infrastructure and technological resources in developing countries are some other major factors that are anticipated to impede the growth of the functional flour market in the forthcoming years.
The high cost of raw materials, such as products derived from specialty source crops not native to the region, hinders the market.
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In terms of regional platforms, North America holds the largest market share in the functional flour market. The region is expected to accumulate a market share worth 25.3% as of 2022. North America is expected to fuel the functional flour market over the forecast period, attributed to the flourishing processed food market of the region.
According to Future Market Insights, Europe is expected to provide immense growth opportunities for Functional Flour and is expected to reach the highest share of 21.4% in 2022.
Europe market is another largest market, owing to the rapidly growing popularity of ready-to-eat convenience food, coupled with the growing awareness of health benefits in developing countries like the United Kingdom, Germany, and France, which has seen a spike in demand from countries like India and China.
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According to Future Market Insights, Asia Pacific is expected to provide immense growth opportunities for functional flour and is expected to reach the highest share of 19.5% in 2022.
Currently, Asia Pacific is the largest packaging additives (functional additives and barrier coatings) market, accounting for more than two-fifth of the global market size, in terms of value, in 2015.
Among all the countries, China dominates the market, closely followed by the USA Presence of many global as well as regional market players, a well-established packaging industry, a high population, increased levels of disposable income, and changing lifestyle are the key factors driving the market in China.
According to Future Market Insights, the Middle East & Africa are expected to provide immense growth opportunities for Functional Flour and are expected to capture a market share of 12.0% in 2022.
Continuous innovation and development in the process of functional flour making are major factors expected to accelerate the growth of the Functional Flour Market in the Middle East & Africa.
There are many prominent market players in the functional flour market who are working together to provide the best-in-class Functional flour products for enhancing the global arena. However, there are many global start-ups in the functional flour market that are stepping forward in matching the requirements of the Functional Flour domain.
Some key participants in the global Functional Flour market include BASF SE, Songwon Industrial Co. Ltd., Cytec- Solvay Group, Clariant Corp., and Addivant, among others.
The market is highly competitive due to the presence of such a large number of participants. While global players such as BASF SE, Songwon Industrial Co. Ltd., Cytec- Solvay Group, Clariant Corp., and Addivant, among others, account for a considerable market size, several regional-level players are also operating across key growth regions.
Recent Developments
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 9.2% from 2023 to 2033 |
| Base Year for Estimation | 2022 |
| Market Value in 2023 | USD 79.9 million |
| Market Value in 2033 | USD 193.5 million |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD million and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered |
Source, Type, Application, Region |
| Regions Covered |
North America; Latin America; Europe; East Asia; South Asia & Oceania; Middle East and Africa |
| Key Countries Profiled | United States of America, Canada, Brazil, Mexico, Germany, United Kingdom, France, Spain, Italy, China, Japan, South Korea, Malaysia, Singapore, Australia, New Zealand, GCC Countries, South Africa, Israel |
| Key Companies Profiled |
Cargill; General Mills; Archer Daniels Midland Company; Associated British Foods; The Hain Celestial Group Inc.; Sunopta Inc.; Maticnjak,; Shipton Mill; Bos’s Red Mill; Limagrain; Gisto’s Vita Grain |
| Customization | Available Upon Request |
The market is valued at USD 79.9 million in 2023.
The market is forecast to register a CAGR of 9.2% through 2033.
The global market size to reach USD 193.5 million by 2033.
The Asia Pacific is projected to emerge as a lucrative market.
Cargill, General Mills, and Archer Daniels Midland Company are key functional flour market players.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Source 5.1. Cereals 5.2. Legumes 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Type 6.1. Fortified Functional Flours 6.2. Gluten-Free Functional Flours 6.3. Specialty Functional Flours 6.4. Other Functional Flours 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application 7.1. Bakery Products 7.2. Soups & Sauces 7.3. Ready-to-Eat Products 7.4. Other Applications 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Western Europe 8.4. Eastern Europe 8.5. South Asia and Pacific 8.6. East Asia 8.7. Middle East and Africa 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 16. Key Countries Market Analysis 17. Market Structure Analysis 18. Competition Analysis 18.1. Cargill 18.2. General Mills 18.3. Archer Daniels Midland Company 18.4. Associated British Foods 18.5. The Hain Celestial Group Inc. 18.6. Sunopta Inc. 18.7. Maticnjak 18.8. Shipton Mill 18.9. Bos’s Red Mill 18.10. Limagrain 18.11. Gisto’s Vita Grain 19. Assumptions & Acronyms Used 20. Research Methodology
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Functional Flour Market
