The global functional flour market is foreseen to witness impressive growth on account of a drastic shift toward health-benefitting foods and ingredients offering nutritional wellness. As per the research study by Fact.MR, global sales of functional flour are estimated to grow at a CAGR of over 6.5% through 2025, notably driven by the evolving dietary patterns across the globe.
According to the Fact.MR report, the functional flour market space can be characterized by hegemony of a few leading companies having global and regional reach. However, the functional flour market structure also demonstrates wide-spread presence of small-sized companies predominantly operating across local markets.
“The leading players of functional flour market, albeit having robust product portfolios and excellent operational efficiencies, will eye on niche categories to expand their reach. Moreover, the leading companies will also continue to focus on strategic collaborations, such as mergers and acquisitions, with the small players to boost their production abilities and gain substantial profits”, says Fact.MR analysis
Initiatives by governments and associations across the globe in the directions of promoting consumption of functional flour is complementing the market growth. Rising instances of malnutrition or nutrition deficit across both developed as well as developing economies are fuelling such initiatives of promoting consumption of enriched flours, working in favor for growth of functional flour market. For instance, various associations of millers in the Caribbean and Latin America had a crucial role in pushing flour fortification across the key countries.
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Another program by the ‘Flour Fortification Initiative’ enabled wide-spread implementation fortification across multiple countries in the Middle Eastern, North African, and Eastern Mediterranean regions. Moreover, leading players, such as Cargill, Incorporated, are joining such initiatives to further extend their support in the same. Awareness created by such initiatives is translating into broader acceptance of enriched flours, thereby fuelling growth of functional flour market. In addition, business developments, technological advances, flourishing trade, and effective marketing in the support of floor fortification are also boosting ROI benefits of manufacturers in the functional flour market.
Functional Flour Market- Paradigm Shift to Healthy Foods Creates Significant Opportunities for Manufacturers
Rising gravitation toward health & wellness and augmented consumption of health-benefitting foods is creating sustained opportunities for the manufacturers of functional flour. Consumers across the globe are adhering to healthy diets inclusive of cereals, grains, and lentils to meet their nutritional requirements. This, in turn, is creating significant incremental opportunity for the participants of functional flour market.
Rising incidences of gluten intolerance are also inducing shift to non-wheat based and enriched flours, thereby influencing growth of functional flour market. Moreover, increasing consumer propensity for ready-to-eat bakery foods that are available in multigrain variants is also creating favorable grounds for the functional flour market.
As the feature of clean label is mainstreaming across multiple countries, consumer expectations continue to evolve. Amid this dynamic landscape, food manufacturers are vying to continuously innovate and keep up with the evolving trends to create distinguishable products. Evolution of ‘clean label’ is acting as a key differentiator for food manufactures to enhance perceptions of their offerings for bolstering consumer confidence.
In line with the clean label trend, food manufacturers are including flour variants in their products that align well with consumers’ consideration of healthy ingredients, providing fillip to the adoption of functional flour. Food manufacturers are incessantly switching to functional flour for boosting credibility of their product labels, which in turn helps them make their offerings distinguishable on the market shelves.
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