Axiom MRC has updated all it's market research reports with the Economic Impact Analysis of COVID19 Pandemic on the market. Our team of analyst are following Comprehensive Three Dimensional (3D) Research Methodology along with large number primary interviews with key industry participants to bring insightful market reports to meet the current market requirements.
Functional Flours act as active elements in making finest food products that are of superior quality and are improved than normal products. Nowadays, consumers are least interested in mid-market products. A trend is developing among these consumers, in which they are seen to be diminishing their payments on basic groceries and in its place are trying out unique finest products available in the market. In the case of Functional Flours, this trend has been seen mainly in the bakery products that contain such flours. Women are the major driving force for this increased purchasing of premium foods. Another reason for the popularity of premium foods is internet retailing and attractive discounts offered on these products.
Growing number of health conscious populace needing for specialty, gluten free and fortified trends are surging growth of function flour market. Customers going through celiac disease, gluten intolerance, and wheat allergies, and other disease, are favoring the intake of specialty flour, this is in turn driving market growth of Functional Flours. As Functional Flours find numerous applications into bakery products, the swift growth of bakery industry is another major aspect driving market growth globally. Food products produced using Functional Flours is low fat, covers more protein and fiber, and better nutritional advantages than that of generally used wheat flour.
The study analyses Global Functional Flours market based on type, application, source and geography.
Conventional and Specialty are the two major types of Functional Flours available to the customers. The conventional Functional Flours segment is likely to dominate the market owing to easy and wide availability. However, specialty flour segment is projected to grow at a faster rate over the forecast period. In the past few years, increasing consumer awareness regarding health benefits of organic products and strong support from the government for development of such products that are natural, enriched with high nutritional contents are some key factors driving the demand for specialty flour in the global market.
The market finds application in bakery, soups & sauces, ready-to-eat products etc. The market growth is anticipated to be highest for ready to eat food articles on account of easy usability and availability of the product. However, the other segments are also expected to grow at a considerable rate over the forecast period.
Cereals and legumes are the major source of Functional Flours. Abundance of the raw materials such as wheat, maize and soy is expected to drive the market growth over the forecast period. The demand for specialty flours is expected to rise on account of superior health benefits coupled with high nutritive value of the product.
Geographically, the study is comprised of the key countries of North America, Europe, Asia-Pacific and Rest of the World. Europe is likely to hold a major share for the global market over the forecast period owing to presence of major players in this region. However, Asia Pacific is expected to witness the fastest growth over the forecast period owing to increase in demand for bakery and confectionery products. The countries in the Asia Pacific region are major producers of wheat which also boosts the market. The government regulations related to bakery ingredients in this region are not as stringent as compared to Europe and North America.
The key competitors of this market include Cargill, Inc., Archer Daniels Midland Company, Bunge Limited, Associated British Foods PLC, General Mills, Inc., The Scoular Company, Agrana Beteiligungs-AG, The Hain Celestial Group Inc., Sunopta, Inc., Parrish and Heimbecker, Limited among others.
The study analyses global Functional Flours market based on type, application, source and geography. Conventional and Specialty are the two major types of Functional Flours available to the customers. The conventional Functional Flours segment is likely to dominate the market. The market finds application in bakery, soups & sauces, ready-to-eat products etc. Cereals and legumes are the major source of Functional Flours. Abundance of the raw materials such as wheat, maize and soy is expected to drive the market growth over the forecast period. Geographically, the study is comprised of the key countries of North America, Europe, Asia-Pacific and Rest of the World.
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