Global Functional Flours Market - 2023-2030

Global Functional Flours Market - 2023-2030

Global Functional Flours Market reached US$ 70.2 billion in 2022 and is expected to reach US$ 116.1 billion by 2030 growing with a CAGR of 6.5% during the forecast period 2023-2030. The growing health awareness and the rising need for healthy foods drive the growth of the global functional flours market.

Functional flours are typically high in essential nutrients to prevent nutrient deficiencies. Many food manufacturers are looking for alternative flour to replace wheat flour in new formulations with high nutritive value, bioactive properties, and gluten-free. For instance, in July 2021, Ulrick & Short, food and beverage ingredients supplier, launched a functional flour explicitly aimed at improving viscosity, texture, and structure in gluten-free bakery applications.

The growing demand for premium foods, increasing consumption of convenience and healthy food products, rising demand for less gluten content flours, an emerging trend of enriched flours, increasing health awareness among people, and increasing demand for plant-based diets, significantly, plant protein, fuel the functional flours market expansion.

Market Dynamics
The Increasing Demand for Flour Usage is Estimated to Drive the Functional Flour Market Growth.
Flour is one of the primary ingredients used in various food products, including bakery products, pizza, pasta, and others. Flour is responsible for the proper texture of the food product. It also provides texturizing properties. The flours are used as a thickener in sauces, soups, and gravies. Functional flour helps maintain the food product’s consistency and reduces the processing time.

The increasing consumption of packaged and processed food products in both developing and developed regions is raising the demand for the functional flour market. There is a rise in the need for premium food products, which is also expected to create a demand for the functional flour market. The rising demand for the usage of nutritional and enriched flours is driving the market growth.

Increasing Need for Healthy Foods Drive the Functional Flours Market Growth.
There is an increased health awareness among people worldwide. The need for healthy food intake is also growing with the increasing health issues. The sedentary lifestyles, unhealthy food habits, and growing prevalence of obesity, diabetes, and other diseases make people rethink their food choices. According to WHO 2023, about 330 million people in the United States are gluten intolerant.

The rise in these health issues contributed to producing several specialty flours. Gluten-free flours are gaining immense popularity with increasing gluten intolerance cases. Most of the flours are fortified with essential nutrients making them more efficient to use. High-fiber and protein-rich flours are used in most food products driving market expansion.

The High Cost and Strict Government Legislation Restrain the Functional Flours Market Growth.
The strict government regulations and labeling rules are the major hindering factors of the global functional flours market. The health claims such as fortified or enriched products need to be satisfied with the minimal level of fortification of particular nutrients to be claimed as such. The labelling rules for gluten-free products should be made with the given regulations.

The high cost of the raw materials is expected to be one of the major factors that anticipated the functional flours market growth. The products that are derived from the speciality source crops are expensive to use in some of the food products. Developing countries' lack of infrastructure and technological resources also hinders market growth.

COVID-19 Impact Analysis
The COVID-19 Analysis includes Pre-COVID Scenario, COVID Scenario and Post-COVID Scenario along with Pricing Dynamics (Including pricing change during and post-pandemic comparing it with pre-COVID scenarios), Demand-Supply Spectrum (Shift in demand and supply owing to trading restrictions, lockdown, and subsequent issues), Government Initiatives (Initiatives to revive market, sector or Industry by Government Bodies) and Manufacturers Strategic Initiatives (What manufacturers did to mitigate the COVID issues will be covered here).

Segment Analysis
The global functional flours market is segmented based on source, type, application, and region.
In the Global Functional Flours Market, the Cereals Segment Holds the Largest Market Share.
The global functional flours market has been segmented by source into cereals and legumes. The cereals segment held the largest functional flours market share of 58.8% in 2022 in the functional flours market analysis report. The increase in the presence of health-conscious consumers is raising the consumption of cereal based food products driving the segment’s growth.

The cereal grains are mostly grown and available in most parts of the world. The availability of whole grain flours that are fortified with essential nutrients is the primary driving factor for the segment’s growth. The high-fibre flours and protein-rich flours are trending in the market due to their healthy benefits. The products prepared with cereal based speciality flour are in high demand expanding the target segment.

Geographical Analysis
The North America Region Held the Largest Functional Flours Market Share.
The global functional flours market is segmented into five parts based on geography: North America, South America, Europe, Asia-Pacific, the Middle East, and Africa. The North American functional flours market held the largest market share of 38.6% in 2022 in the functional flours market analysis. The increasing demand for functional food products is driving the functional flour market in this region.

The increased consumption of nutritive convenience & fortified food and the growing health awareness is leading to increased consumption of healthier diets, thereby driving the market growth in this region. Factors such as increased consumer disposable income, rising gluten-intolerant population in the region, increasing working women, and increased demand for ready-to-eat food products also contribute to market expansion.

Competitive Landscape
The major global players in the market include Cargill Inc, Archer Daniels Midland Company, Associated British Foods plc, Ingredion Inc., Sunopta Incorporated, Bunge Limited, Agrana Beteiligungs-AG, The Scoular Company, Conagra Brands, Inc, and The Caremoli Group.

Global Recession/Ukraine-Russia War/COVID-19, and Artificial Intelligence Impact Analysis:
Covid-19 Impact:
The unprecedented COVID-19 pandemic in 2020 profoundly affected the food industry. Covid-19 has considerably impacted the global food supply chain phases involving functional flours production, processing, distribution, and consumption due to lockdowns and restrictions imposed by various governments.

Everything has changed due to the COVID-19 epidemic. It has influenced practically every industry, whether positively or negatively. The COVID-19 pandemic's effects on world economic conditions have had an influence. They could impact interest rates, foreign exchange rates, commodities and energy prices, and the efficient operation of financial and capital markets.

The COVID-19 pandemic issue has had an impact on the food industry as well. The COVID-19 pandemic is upending life, and the food sector is seeing increased trends like functional flours. The food businesses are launching innovative programs, including functional flours.

Why Purchase the Report?
• To visualize the global functional flours market segmentation based on source, type, application, and region and understand key commercial assets and players.
• Identify commercial opportunities in the market by analyzing trends and co-development.
• Excel data sheet with numerous data points of functional flours market-level with all segments.
• The PDF report includes a comprehensive market analysis after exhaustive qualitative interviews and an in-depth market study.
• Product mapping is available as Excel consists of key products of all the major market players.
The Global Functional Flours Market report would provide approximately 61 tables, 56 figures and 165 Pages.

Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies