The global functional flour market is anticipated to be valued at US$ 79.9 million in 2023, forecast to grow at a CAGR of 9.2% through 2033. The market is to be valued at US$ 193.5 million by 2033. Growth is attributed to the increase in demand for premium food products.
From 2023 to 2033, the functional flour market is anticipated to expand significantly at a CAGR of 9.2%. Changing consumer lifestyles and rising consumer demand for premium food items, driven by the quest for taste and health benefits, give significant potential for market expansion. Furthering the market’s optimistic outlook are increased government rules that support healthier choices and the popularity of gluten-free diets. However, strategic product innovation, efficient marketing, and quality control procedures are required to take advantage of the market’s enormous potential. These problems include those related to production costs, customer awareness, flavor perception, compliance with regulations, and competitiveness.
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Key Takeaways
- The United States tops the group with a sizable growth rate of 24.5%, highlighting its dominance and good market performance in the examined industry.
- China comes in second with a strong growth rate of 10.4%, demonstrating its enormous market potential and growing importance in the international scene.
- India positions itself as a vital player and demonstrates its quick expansion in the business with a spectacular growth rate of 11.4%.
- Germany exhibits consistent growth of 7.9%, demonstrating its durability and stability in the market.
- With moderate growth rates of 9.8% and 3.4%, respectively, the U.K. and Japan stand out for their steady market performance and prospects for long-term corporate success.
Competitive Landscape
The market for functional flour is quite competitive, with many players competing on a local and regional basis. To keep up with changing consumer needs, the major market participants frequently innovate and launch new products. The following companies are some of the top rivals in the market for functional flour:
Cargill, Inc.:
Cargill is a leader in the food and agricultural industries on a global scale. The business provides a wide selection of beneficial flours, including alternatives that are gluten-free, high in protein, and packed with fiber.
General Mills, Inc.:
Producing a range of cereal, pastry, and snack goods, General Mills is a well-known food firm. Whole wheat, oat, and quinoa flours are among the functional flours that the business sells.
Associated British Foods Ltd.:
Several branded and private label goods are produced by the international food corporation Associated British Foods Ltd. A variety of beneficial flours, including high-fiber, low-carb, and gluten-free varieties, are available from the company.
The Hain Celestial Group Inc.:
Natural and organic food producer The Hain Celestial Group creates a range of food and beverage items. The business provides a variety of beneficial flours, including gluten-free, sprouted grain, and ancient grain alternatives.
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Market Competition
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
- In October 2021, Cargill launched a rice flour-based maltodextrin substitute. Cargill’s new soluble SimPure rice flour is a clean label with a taste, texture, and functionality similar to maltodextrin. This ingredient can be used as a one-to-one replacement for maltodextrin.
- In July 2021, Ulrick & Short launched a functional flour aimed specifically at improving viscosity, texture & structure in gluten-free bakery applications. The ingredient, called fazenda Nutrigel, is an addition to the company’s functional flour range launched in 2020. The ingredient acts as a viscosity regulator in bakery applications and has been designed to improve the moisture, softness, and structure in a range of products.
- In June 2021, Limagrain Ingredients launched fiber-rich wheat called LifyWheat flour to counter Europeans’ low dietary fiber intake. White wheat flour is reportedly ten times richer in fibers than standard fibers and contains resistant starch.
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Key Segments Profiled in the Functional Flour Industry Survey
Functional Flour Market by Source:
- Functional Flour from Cereals
- Functional Flour from Legumes
Functional Flour Market by Type:
- Fortified Functional Flours
- Gluten-Free Functional Flours
- Specialty Functional Flours
- Other Functional Flours
Functional Flour Market by Application:
- Functional Flour for Bakery Products
- Functional Flour for Soups & Sauces
- Functional Flour for Ready-to-Eat Products
- Functional Flour for Other Applications
Functional Flour Market by Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- Middle East & Africa
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