Functional Flour Market Worth USD 147.3 billion by 2031, at 7.6% CAGR - Report by Transparency Market Research, Inc.

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Jan 02, 2024, 06:30 ET

A growing demand is for functional flours enriched with added nutrients, fibers, and proteins for healthier diets

WILMINGTON, Del., Jan. 2, 2024 /PRNewswire/ -- The global functional flour market is estimated to flourish at a CAGR of 7.6% from 2023 to 2031. According to Transparency Market Research, sales of functional flour are slated to total US$ 147.3 billion by the end of the aforementioned period of assessment.

Consumer demand for sustainably sourced raw materials prompts flour manufacturers to adopt eco-friendly sourcing practices. This includes collaborating with environmentally friendly farming farmers and enhancing the market's eco-credentials.

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Functional Flour Market Report Scope:

Report Coverage	Details
Forecast Period	2023-2031
Base Year	2018-2022
Size in 2022	US$ 76.3 Bn
Forecast (Value) in 2031	US$ 147.3 Bn
Growth Rate (CAGR)	7.6 %
No. of Pages	200
Segments covered	Type, Application, Source

Some prominent manufacturers are as follows:

Cargill Incorporated
SunOpta Inc.
The Scoular Company
The Hain Celestial Group Inc.
Archer Daniels Midland Company
Associated British Foods plc.
General Mills Inc.
Parrish and Heimbecker Limited
Con Agra Foods Inc.
ITC Limited
Shipton Mill
Limagrain
Maticnjak
Agrana Beteillingus AG
Bunge Limited

A rising consumer preference for clean-label products drives manufacturers to eliminate artificial additives and focus on natural ingredients. Flour producers respond by offering clean-label functional flours, addressing consumer concerns about chemical additives.

Customized functional flours tailored to specific dietary needs or regional preferences are gaining attention. Manufacturers are exploring the customization of flour blends, catering to niche markets seeking specialized nutritional profiles or taste preferences.

Evolving regulatory standards and government policies about food safety and labeling impact the formulation and marketing of functional flour. Compliance with these regulations drives product development and market strategies.

Key Findings of the Market Report

Specialty flour leads the functional flour market due to its unique formulations and targeted nutritional benefits for diverse applications.
Bakery & confectionery applications lead the functional flour market due to extensive use in varied baked goods and confectionery items.
Cereals lead the functional flour market due to their diverse applications, broader consumer familiarity, and product acceptance.

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Functional Flour Market Growth Drivers & Trends

Shifting consumer preferences towards gluten-free, keto-friendly, or plant-based diets impacts the demand for specialized functional flours.
Increasing use of functional flours in unique culinary applications, including ethnic foods, to meet diverse taste preferences.
Growth in retail distribution channels and online platforms amplifies accessibility, expanding market reach for functional flour products.
Collaborations between food manufacturers and nutritionists drive innovation, creating functional flour blends tailored to specific nutritional needs.
Blending functional flours with other superfoods or nutritional ingredients to enhance health benefits and product differentiation in the market.

Global Functional Flour Market: Regional Profile

North America boasts a significant market share, driven by rising health concerns and an inclination towards functional foods. The region witnesses a surge in demand for specialty flours fortified with added nutrients, catering to health-conscious consumers seeking healthier alternatives in their diets.
Europe showcases a mature functional flour market with a strong emphasis on whole grain and organic variants. A growing preference for clean-label products and gluten-free options drives market growth, promoting innovation in functional flour formulations.
Asia Pacific demonstrates rapid market expansion attributed to changing dietary habits, urbanization, and a growing middle-class population. The region's market is characterized by rising demand for fortified flours, catering to diverse culinary traditions and addressing nutritional deficiencies. An increasing focus on functional food ingredients in baked goods and snacks propels market growth in the Asia Pacific region.

Functional Flour Market: Competitive Landscape

The functional flour market witnesses intense competition driven by key players like Cargill, Archer Daniels Midland Company, and General Mills. These industry giants dominate a broad spectrum of functional flour offerings, focusing on fortified, specialty, and whole-grain flour. Their strategies emphasize product innovation, research and development, and strategic collaborations.

Emerging players capitalize on niche markets, introducing innovative functional flour variants tailored to specific dietary needs and consumer preferences. The market's competitiveness thrives on pursuing healthier alternatives, technological advancements, and catering to the expanding demand for functional flours in diverse food applications globally.

Product Portfolio

ITC Limited offers a diverse product portfolio spanning various industries, including FMCG, hospitality, paperboards and packaging, agri-business, and information technology. Their range includes consumer goods, packaged foods, personal care products, and premium hotels, focusing on quality and sustainability in their offerings.
Shipton Mill specializes in organic flour, grains, and baking products, providing a comprehensive range of premium-quality organic flours and grains tailored for professional bakers and home baking enthusiasts, ensuring superior taste and performance.
Limagrain delivers a wide array of high-quality seeds, emphasizing innovation and sustainable agricultural solutions. Their product portfolio includes seeds for various crops, supporting farmers with advanced genetic traits and high-performance varieties for improved farm productivity and quality yield.

Functional Flour Market: Key Segments

By Type

Pre-cooked Flours
Specialty Flours
Others

By Application

Bakery & Confectionery
Soups & Sauces
RTE Products
Others

By Source

Cereals
Legumes

By Region

North America
Europe
Asia Pacific
South America
Middle East & Africa

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