Functional Flours Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI1419
Functional Flours Market size is anticipated to observe surge in demand due to increase in consumption of processed and packaged food items in both developed and developing countries. Rise in need of premium food items, growth in consumption of appropriate and healthy food items and strengthening of global product trade are also driving demand in the functional flours market. In addition, increase in requirement for gluten free food items has resulted in higher demand for this product.
These are vital ingredients in bread, pasta and pastries which can be milled by adding several grains. Protein present in them provides the dough or batter with better texture and volume. It is used to thicken soups, stews, gravies and sauces. Practical features of these products include foam stability, swelling capacity, gelatinization and least gelation concentration. By the formation of gluten in food items, product get well smoothness, natural and classy look, strength and reliable flavors. It also helps in maintaining consistency in process and processing time of the flour.
These products, which are developed either from genetically modified grain or mixtures of several types of grains and non-grain components, has much lees gluten content as compared to the traditional wheat based food items. It claims to offer numerous health benefits including celiac disease patients completely reply on gluten free diet, hence rising the functional flours market demand. Functional flours enhance nutrient qualities and are also known as hydrothermally treated specialty food products. Rise in consumption of RTE (ready to eat) food items along with healthy eating habits are driving the functional flours market over the forecast period.
Based on type, the functional flours market is divided into specialty, pre-cooked and others including instant flour mixes, composite and enriched categories. Specialty segment is projected to grow at a higher rate in terms of value as well as volume, as several food manufacturers use more gluten free food materials to produce bakery and RTE products. Rising demand for enriched food items is expected to witness substantial growth due to increase in health-related consumer awareness. On the basis of source, the product is categorized into legumes and cereals. Cereals segment is anticipated to lead the functional flours market due to the growing food processing industries.
Expansion opportunities are projected to create wide range of product applications in infant food, seasoning bases, dairy products, spreads, snacks, beverages and bakery product. Several types of distribution channels in functional flours market including mass retailers, direct selling and internet retailing are expected to solve availability issues of these products in remote area. Moreover, emergence of different types of products including granulated, delta tocopherols, multi-benefit and waxy categories is expected to make the demand highly aggressive.
Asia Pacific is projected to witness highest growth in the forecast period owing to its ever-increasing population. Increase in consumer expenditure on processed food items is one of the chief reasons for industry growth. Nonfood application of the product including art piece decoration is likely to generate scope for wider expansion in functional flours market. Price fluctuation of raw materials acts as a major hindrance to the product market growth.
Functional flours market is fragmented and competitive owning to the presences of large number of industry players operating at regional and local levels. Several major players adopted expansions and heavy investments policies as their preferred growth strategies. Major players profiled in functional flours market include Archer Daniels Midland, Parrish & Heimbecker, Cargill, General Mills, The Hain Celestial, Associated British Foods, ConAgra Foods, ITC and AGRANA Beteiligungs. Some of the other prominent industry players are SunOpta, The Scoular, Ingredion and Bunge.
In 2015, the U.S. based ingredient solutions provider, Ingredion introduced an innovative range products in functional flours market, suitable for producing various bakery food products. Launch of 10 novel food categories was aimed at benefiting the production of high nutrition and gluten free food products.
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