Observing the current craze around fitness, it would not be very wrong to say that the global functional flour market will experience tremendous growth over the forecast period. The market is anticipated to accrue a staggering revenue of USD 90 billion during 2018-2023. In terms of CAGR, the market is expected to move forward at the rate of 5.46%.
There are a number of factors that can be held accountable for the success and development of this market. The higher demand for healthier food items happens to be a chief growth driver for this industry. Furthermore, the increase in bakery products production and the heightened acceptance of gluten-free flour further direct the market towards its growth.
Another aspect that works in the favor of the market is the changing food preferences of the consumers. However, the industry may come across minor hurdles like stringent government rules and shortage of resources for production. However, with passing time the market is expected to overcome these small problems.
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Not many people out there are aware of the concept of “functional foods”. In simple terms, functional food is a word used to define a food product that has been given additional qualities. These qualities are other than the ones the item already has intrinsically. One of the best examples of this sort of food is functional flour. The modern-day consumers are highly cautious of what they eat, they want food items that have comprehensive properties. Owing to this, the demand for such functional edible products has increased. Resultantly the global functional flour market is gaining impetus.
Functional flour is normal flour that has been treated hydro-thermally. This kind of flour is commonly referred to as HT flours. These flours undergo special treatments like thin layer drying, extrusion and roller dying. As a result of all these procedures the flour can be utilized for one specific purpose. They can be personalized according to an individual’s preferences.
Functional flour is employed to garner physiological benefits. It can also be effectively used to mitigate the risk of long-term diseases as it consists of certain added nutritive elements. One of the best features of this food item is that it can be utilized as regular diet and looks the same as normal flour. Thus, it can be concluded that the upcoming years will observe the steady rise of this market.
Market Players & Strategies Analysis:
Some of the most trusted and renowned names of this market can be listed as Bunge Limited, The Scoular Company, Cargill, Sunopta, Inc. and Parrish and Heimbecker Limited. Some of the major strategies used by these players is novel product development and strategic expansion.
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The worldwide functional flour market has been divided into five equal parts. They can be listed as applications, sources, forms, regions and functional properties.
On the basis of applications, the market has been separated into bakery products, gluten free products, dairy products & other beverages, spreads & seasoning bases, breakfast cereals, pasta and infant food products.
On account of sources, the industry can be fragmented into tapioca, peanut, wheat, rice, rye, corn and sprouted grain.
Based on forms, the market is further segmented into granulated functional flours, waxy functional flours and instant formula and multi benefit functional flours.
Geographically, the market has its reach across various parts of the world like North America, Asia Pacific, Europe and Rest of the World.
Lastly, when it comes to functional properties, the market is segregated into pre-gelatinized, gluten-free, fortified and organic.
One of the major innovations in the global functional food market recently has been the introduction of cricket flour. Although the name might sound weird, but this flour is full of enriching nutrients. Consuming this on a regular basis can help recipients lead a healthy life.
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