The global commercial flour market has witnessed remarkable growth in recent years, fueled by various factors such as the increasing demand for gluten-free products, the surge in preference for baked goods, and evolving consumer dietary habits. With an emphasis on innovation and meeting consumer preferences, key players in the industry are expanding their product portfolios and investing in research and development to cater to the dynamic market landscape.
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Market Overview: In 2022, the commercial flour industry was valued at US$ 49.1 billion, and it is projected to grow at a CAGR of 3.5% from 2023 to 2031, reaching an estimated value of US$ 66.9 billion by the end of 2031. This growth trajectory is attributed to the rising awareness regarding the benefits of a healthy diet, coupled with an increase in the working population's preference for packaged food products.
Driving Forces:
1. Rise in Demand for Gluten-Free Products: The prevalence of celiac disease, gluten sensitivity, and wheat allergies has led to a surge in demand for gluten-free products. Manufacturers are leveraging commercial flour to produce gluten-free alternatives, tapping into this expanding market segment. Compliance with FDA standards for gluten content further drives the sourcing of local and sustainable commercial flour for gluten-free product manufacturing.
2. Preference for Baked Products and Baking Solutions: Consumers' inclination towards baked goods, including cakes, pastries, and bread, has contributed significantly to the growth of the commercial flour market. The convenience of packaged bakery products, coupled with the emerging trend of home baking, has bolstered the demand for baking solutions. Industrial-grade flour plays a vital role in bulk production, meeting the escalating consumption of desserts and bakery items.
Regional Outlook: Europe emerged as a dominant force in the global commercial flour market in 2022, driven by increased bread consumption and the rising popularity of gluten-free products. The region's growing population favors packaged and ready-to-eat food products, driving market progression. Additionally, the import of processed food from developing countries further augments market growth, with expectations of continued expansion in the foreseeable future.
Key Players and Developments: Leading companies such as Ardent Mills, ADM, Cargill, General Mills, and Bunge Global SA are at the forefront of the commercial flour market. These players focus on business expansion through the introduction of innovative products that align with consumer preferences. Noteworthy developments, such as Ardent Mills' launch of Ardent Mills Egg Replace and Ancient Grains Plus Baking Flour Blend, underscore the industry's commitment to meeting evolving consumer demands and market trends.
Furthermore, initiatives like the Agricultural & Processed Food Products Export Development Authority (APEDA)'s launch of gluten-free millet products demonstrate a concerted effort to cater to diverse consumer needs and preferences.
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