Wheat Flour Market - Global Industry Analysis (2018 - 2020) - Growth Trends and Market Forecast (2021 - 2026)

Wheat Flour Market - Global Industry Analysis (2018 - 2020) - Growth Trends and Market Forecast (2021 - 2026)

Wheat flour offers a wide range of health benefits such as lowering cholesterol, controlling obesity, regulating blood sugar, and improving metabolism. It also contains gluten and is used to add strength and elasticity to the dough. These benefits have surged the demand for wheat flour. Over the forecast period, dynamic changes in eating patterns, higher disposable incomes, and the rapidly growing global population are poised to drive the wheat flour market toward maturity. Moreover, awareness about the health benefits of wheat flour, coupled with the rise of artisanal baking, is expected to create positive revenue outcomes in the wheat flour market. According to Fairfield Market Research, by 2026, the global wheat flour market is anticipated to be valued at US$ 274,523 Mn. Compared to the market valuation of 2019, US$ 212,671 Mn, the expected valuation is a strong indicator of the fresh business opportunities residing in the wheat flour market.

Key Highlights and Trends Across Wheat Flour Market

Between 2019 to 2026, the wheat flour market is set to register a steady CAGR of 3.8% due to the consistently rising demand for protein-rich, whole grain-based diets. Bread, followed by bakery and confectionery, is projected to hold the largest market share.

Based on the nature of the market, the conventional wheat flour segment is predicted to command the most significant share of 92.0%. The lucrative business prospects floating in the HoReCa industry are expected to phenomenally augment the demand for durum wheat.

On the basis of type, observing a market share of 59.6% in 2019, the bread flour segment is expected to sustain its dominance in the wheat flour market, followed by all-purpose flour, semolina and durum flour, and whole wheat flour.

Rising Demand for Bakery Products, Robust Product Innovation Promise Steady Growth

The demand for bakery products has risen exponentially, particularly among millennials. In emerging economies, increasing disposable income has fueled the demand for products such as cakes, pastries, and pizzas. This has yielded high-value outcomes for the wheat flour market. Notably, the trend of eating out in restaurants has created stellar demand for whole grains from within the HoReCa industry, opening new growth avenues for the global wheat flour market. Additionally, consumers have become more conscious about their calorie intake, propelling manufacturers to monetize this opportunity by engaging in rigorous R&D, M&A, and open innovation. Considering this widespread demand for healthy bakery snacks, key market players are also expected to roll out more batches of nutritious bakery goods rich in vitamins, minerals, and fortified flours.

High Demand for Wheat-Based Products Positions Asia Pacific as Foremost Market Leader

Being the global hub of wheat production, the Asia Pacific is anticipated to dominate the wheat flour market. In 2019, its share in the wheat flour market stood at 33.4%, the highest world over. In this region, the demand for wheat flour is predicted to increase due to higher consumption of wheat-based products, growing disposable incomes, and rising preference for healthy bakery items. By 2026, these factors are poised to enable APAC’s wheat flour market to expand at a CAGR of 4.3%.

Prominent Market Players

Key market players in the wheat flour market include Ardent Mills, LLC, King Arthur Flour Co., Bob’s Red Mill Natural Foods, General Mills, Inc, Grain Craft, Archer Daniels Midland Company, Minot Milling, North Dakota Mill, Italgrani USA, and Miller Milling.

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