Enriched Flour Market Outlook
The global enriched flour market is predicted to enjoy a remarkable CAGR of 7.22% from 2022 to 2027(forecast period). It can touch a valuation of USD 144.87 billion by 2027. Awareness of malnutrition as well as deficiency of vital nutrients among consumers due to hectic lifestyles are factors driving market growth. Rising consumption of ready-to-go and processed foods are other drivers of the enriched flour market.
High disposable income levels of consumers and changing dietary patterns are viable growth drivers of the market. Consumption of ready-to-go products and rising trend of food fortification are other factors influencing the enriched flour market size. Technological advances in terms of production and manufacturing processes have culminated in the availability of enriched flour products differentiated by packaging, taste, and form. Concerns over high-protein flour can also play an instrumental role in the market.
Enriched flour is flour with ingredients lost during milling added back to it. The process adds folic acid, thiamine, riboflavin, niacin acid, and iron back to the flour. A spike in cases of vitamin and mineral deficiencies has created the need for enriched flour. The global enriched flour market report encompasses vital drivers, opportunities, trends, and threats compiled in a detailed and organized manner by analysts at Market Research Future (MRFR).
Competitive Analysis
Major industry participants in the global enriched flour market include Ingredion Incorporated, Limagrain, General Mills, Inc., Knappen Milling Co, Archer Daniels Midland Company, SunOpta, Associated British Foods PLC, The Caremoli Group, Cargill, Incorporated, The Scoular Company, Unicorn Grain Specialties B.V., Bunge Limited, Parrish and Heimbecker, Limited, The Hain Celestial Group, Inc., AGRANA Beteiligungs-AG, and others.
Segmentation Analysis
The global enriched flour market overview is segmented by source, application, and enrichment.
By source, it is segmented into legumes, cereals, and others. Cereals held a close 70.8% share of the enriched flour market. But the legumes segment can display a phenomenal growth rate of 7.55% during the forecast period. Legumes include lentils, beans, soy, and others. Among these, soy is expected to gain the most traction due to the large volume of nutrients.
By application, it is segmented into prepared meals, baby food, bakery confectionery, soups snacks, beverages, and others. The bakery and confectionery segment is expected to generate large dividends for the global market. The rise of health consciousness among consumers is likely to foster the growth of the segment. The soups and snacks segment is predicted to exhibit a remarkable growth rate due to consumer preference for convenience foods.
Enrichment is segmented into minerals, vitamins, and others. Vitamins can occupy a significant market share due to the adoption of vitamin-fortified foods and beverages. On the other hand, the minerals segment can exhibit 7.43% CAGR during the forecast timespan.
Regional Analysis
North America, Asia Pacific (APAC), Latin America, Europe, and the Middle East and Africa (MEA) are regions taken into consideration in the compilation of the global enriched flour market report.
North America is projected to be the dominant region in the enriched flour market during the forecast period. It had accrued close to USD 22.26 billion in 2017. It had close to 30.86% market share in the same year. Technological advances in terms of the inclusion of raw ingredients in packaging are likely to play a major role in the region. The U.S. is the primary growth contributor of the region with maximum number of consumers aware of the nutritional content of foods and preference of clean labeling of products.
The APAC region is expected to register 7.86% CAGR during the forecast period due to consumption of ready-to-eat products in developing countries.
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