Global Flour Market - 2023-2030

Market Overview

The Global Flour Market reached US$ 155.5 billion in 2022 and is projected to witness lucrative growth by reaching up to US$ 238.5 billion by 2030. The market is expected to exhibit a CAGR of 5.5% during the forecast period (2023-2030).

Flour is a component of bread, bakery goods, and the corn-based coating used on fast food and fried foods. Because fast food restaurants provide foods like doughnuts, burgers, cakes, and fried meat, there is a significant consumption of wheat flour and whole wheat at these establishments. The flour market demand has grown due to population expansion and rising per capita income, which has resulted in increasing flour production.

The demand for all-purpose flour, enriched flour, and bleached flour used in the manufacturing of fast-food products has risen as customers' traditional lives give way to urban and contemporary ones. Furthermore, the demand for unbleached flour and gluten-free alternatives to high-protein flour has increased because of growing health concerns, which is driving the global flour market growth during the forecast period 2023-2030.

Market Dynamics

Growing Population, Higher Living Standards in Low-Income Countries, and the Ease of Quick Purchases are Anticipated to Boost Flour Market Growth.

Incredibly, the world's population is growing. The world's population increased from 6.9 billion to 7.9 billion over the past ten years, and it is predicted that 9.7 billion people will live on Earth by the year 2050. As a result, there has been a dramatic increase in the need for healthy food production. On the other hand, a significant driving force behind the market development is the improving level of life in low-income nations like Bangladesh, China, Indonesia, and India.

China's GDP per capita was $12,551 in December 2022. In a similar vein, Bangladesh's GDP per capita (PPP values) was at $5,733 whereas India's was at $7319 (PPP terms) in 2022. On the other hand, the expanding number of contemporary retail establishments and online availability of flour mixes are supporting global flour market trends.

Environmental Catastrophes and Declining Soil Organic Content are Predicted to Impede Global Flour Market Expansion

Countries all around the world are weakening the security of this planet by overusing environmental resources in a misguided pursuit of economic growth. Rivers are being changed from their natural paths and trees are being chopped down. The agricultural area is getting smaller because of soil erosion caused by extensive deforestation, which is causing declination in soil organic matter.

Additionally, rising temperatures are causing devastating floods and decreasing agricultural yields overall. In addition, the growing gap between supply and demand for flour-based food, the skyrocketing cost of crude oil, and the sanctions placed on the Russian Federation due to the ongoing conflict are all adding to the burden on the pockets of flour product buyers.

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 flour market is segmented based on product type, application, distribution channel, end-user, and region.

In the Global Market of Flour, the Offline Segment Holds the Largest Market Share

The global flour market has been segmented by distribution channel into offline and online. The offline segment held the largest flour market share of 59.4% in 2022 in the flour market analysis report. The growth is attributable to offline retail shops' many benefits, including the way they foster a human connection between customers and businesses. Customers always choose to purchase on offline platforms as a result.

Additionally, they provide customers the chance to physically handle and feel the items at the moment of purchase, allowing them to discover the hidden flaws if any. Moreover, buyers are drawn to offline retail establishments because of their rapid purchase and sales support capabilities. Furthermore, contemporary retailers are making their way into certain rural regions in an effort to capitalize on the untapped potential.

Geographical Analysis

The Asia-Pacific Held the Largest Share in Flour Market in 2022

The global flour market is segmented into North America, South America, Europe, Asia Pacific, the Middle East, and Africa. The Asia-Pacific flour market held the largest market share of 42.6% in 2022 in the flour market analysis.

The demand for bread flour, cake flour, and pastry flour coupled with increasing demand for gluten-free flour substitutes such as enriched flour like maize flour, rice flour, soy flour,and corn flour has increased as a result of rising health concerns about high-protein flour. Due to less onerous rules of government supervision on the flour sector, private flour millers in Asia-Pacific have prompted private companies to boost their production capacity and creative product offers.

Additionally, India produces close to 8 million tonnes of garbanzo beans annually, accounting for around 68-70% of global production. Australia, the second-largest producer, accounts for over 10% of the world's output of chickpeas. The region's flour market growth is brought on by an increase in disposable income, a growing population, and improved retail infrastructure.

Competitive Landscape

The major global players in the market include: Ardent Mills, Associated British Foods Plc, King Arthur Flour Company, Archer Daniels Midland Company, Hindustan Unilever Ltd., Hodgson Mill, Cargill, ITC Ltd., ConAgra Foods Inc., and General Mills.

Global Recession/Ukraine-Russia War/COVID-19, and Artificial Intelligence Impact Analysis:

COVID-19 Impact:

The COVID-19 pandemic in 2020 resulted in the greatest worldwide economic recession ever. Globally, the epidemic has had a severe impact on the economy. The COVID-19 problem has caused a 4.2% decline in the world's GDP. The coronavirus outbreak has also been disrupting the world's food supply and agri-food value chains. The fast spread of COVID-19 put difficult decisions on the world's decision-makers.

As many nations adopted the required social segregation measures in reaction to the epidemic, a unique and complex situation developed. Numerous nations confronted numerous difficulties regarding the economy, food security, and public health. Primary production, processing, commerce, logistics, and demand are all impacted by agriculture and food.

The logistics of the food value chain have been impacted, as well as the flow of agricultural inputs, outputs, and services associated with agriculture, because of the global movement restrictions and border closures enacted to manage the epidemic. Global food markets were well-balanced despite the worries brought on by the fast spread of COVID-19 over the world.

While the pandemic caused a 7 percent decline in the global commodities trade in 2020, the flour and bread goods sector survived a significant test. Due to the rising demand for staple foods like flour, pasta, and pulses as well as the general state of panic, the market shelves were notably bare during the start of the epidemic. However, because of the robust dynamics of the domestic and international markets, it was possible to restock the shelves quickly and ensure that no one was left without items because of the epidemic.

Why Purchase the Report?

• To visualize the global flour market segmentation based on product type, application, distribution channel, end-user, and region, as well as 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 flour market-level with all segments.
• The PDF report consists of cogently put-together market analysis after exhaustive qualitative interviews and in-depth market study.
• Product mapping is available as Excel consists of key products of all the major market players.

The global flour market report would provide approximately 93 tables, 109 figures and 190 Pages.

Target Audience 2023

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