Flour Global Market Report 2024

Flour is a product made from finely ground grains, a basic ingredient in baked goods, and used in various food products. Wheat grain flour is ideal for baked goods that require a spongy structure.

The primary types of flour include wheat, maize, rice, oats, and others. Wheat flour is a type of flour made from whole grains, encompassing every component found in wheat kernels. It comes in various forms, including wet and dry, and is distributed through different sales channels such as direct and indirect. Wheat flour finds application in a variety of uses, including noodles and pasta, bread and bakery products, animal feed, wafers, crackers, biscuits, as well as non-food applications such as plastics, biomaterials, and glue, among others.

The flour market research report is one of a series of new reports from The Business Research Company that provides flour market statistics, including flour industry global market size, regional shares, competitors with a flour market share, detailed flour market segments, market trends, and opportunities, and any further data you may need to thrive in the flour industry. This flour market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The flour market size has grown strongly in recent years. It will grow from $96.81 billion in 2023 to $102.33 billion in 2024 at a compound annual growth rate (CAGR) of 5.7%. The growth observed in the historic period can be attributed to factors such as population growth, changing dietary patterns, economic development, globalization, and increased health awareness.

The flour market size is expected to see steady growth in the next few years. It will grow to $122.87 billion in 2028 at a compound annual growth rate (CAGR) of 4.7%. The expected growth in the forecast period can be linked to trends in health and wellness, urbanization, emphasis on environmental sustainability, evolving demographics, and changes in global trade dynamics. Key trends anticipated during this period involve the integration of technology, continuous advancements in technology, shifts in consumer preferences and dietary habits, innovations in technology and processing methods, as well as the impact of government regulations and quality standards.

The surge in the consumption of bakery products is anticipated to drive the growth of the flour market in the future. Bakery products encompass goods often made from flour or other grains. Bakery producers are adapting their product offerings to cater to evolving consumer preferences, such as a demand for lower-fat and nutritionally rich food items. These bakery items are known for being high in calories and nutritional value. The increasing demand for such bakery products is expected to contribute to the growth of the cookies and crackers market. For example, according to stats sourced from Euromonitor International in October 2022 and published on the Government of Canada official website, retail sales of baked goods in the U.S. reached $67.9 billion in 2021 and are projected to reach $75.8 billion in 2026. Therefore, the upward trend in the consumption of bakery products is a key driver for the growth of the flour market.

The growth in population is anticipated to be a driving force for the flour market. Population refers to the increase in the total number of people residing in a specific area, region, or country, resulting in demographic expansion. The rise in population contributes to increased flour consumption, given its versatile use in various food products and staple diets globally. As of mid-November 2022, according to the United Nations, a U.S.-based intergovernmental organization, the global human population reached 8.0 billion and is expected to grow by approximately 2 billion individuals over the next three decades, reaching 9.7 billion by 2050. Therefore, the projected increase in population is expected to stimulate the growth of the flour market.

Product innovation stands out as a prominent and increasingly popular trend in the flour market. Major companies within the industry are directing their efforts towards the development of novel products. An example of this trend is evident in the actions of Ulrick & Short, a UK-based manufacturer specializing in clean-label, additive-free ingredients. In June 2021, the company launched a new functional flour incorporating a novel ingredient named Fazenda Nutrigel. This functional flour is distinguished by its capacity to enhance viscosity, texture, and structure in gluten-free bakery applications. Nutrigel proves valuable in a variety of both sweet and savory bakery applications, extending from bread and baked goods to cakes, muffins, and gluten-free batters and coatings.

Major companies in the flour market are actively pursuing advanced solutions, such as high-fiber wheat flour, to address changing consumer preferences for healthier and more functional food choices. High-fiber wheat flour is a type of flour that contains an elevated concentration of dietary fiber derived from wheat grains, promoting digestive health and offering potential nutritional benefits. As an illustration, in March 2023, the Bay State Milling Company, a U.S.-based plant-based ingredient provider, introduced Wingold Wellness multi-purpose flour. This innovative flour boasts three times the gut-friendly fiber content of standard refined wheat flour while retaining identical taste, functionality, and quality. It serves as a rich fiber source for various applications, including pizza, pasta, bread, and tortillas, without the need for additional fiber additives. Crafted exclusively from wheat, this forward-thinking flour provides retail and wholesale bakeries, as well as manufacturers, with a convenient and cost-effective solution to enhance a product's nutritional value without requiring formulation modifications.

In December 2021, Ardent Mills, a U.S.-based flour-milling and ingredient company, successfully acquired Firebird Artisan Mills for an undisclosed amount. This strategic acquisition aims to bolster Ardent Mills' portfolio by expanding its specialized ingredient and gluten-free solutions. The addition of Firebird Artisan Mills provides increased supply chain assurance and enhances the expertise of Ardent Mills' top research and development (R&D), technical, food safety, and quality assurance teams. Firebird Artisan Mills, based in the U.S., is recognized for its production of gluten-free baking mixes and a variety of innovative flours.

Major companies operating in the flour market report are The Archer-Daniels-Midland Company, Bunge Limited, General Mills Inc., Conagra Brands Inc., Ingredion Incorporated, Hindustan Unilever Limited, Ardent Mills, Horizon Milling LLC, Dangote Flour Mills PLC, Grain Millers Inc., King Arthur Baking Company Inc., Bay State Milling Company, Idaho Pacific Corporation, Mennel Milling Company, Interflour Group Pte. Ltd., Grain Craft, Miller Milling Company, Bob's Red Mill Natural Foods, Siemer Milling Company, Arrowhead Mills Inc., Hodgson Mill Inc., Lakeside Mills Inc., Sunrise Flour Mills, Great River Organic Milling, Star of the West Milling Company, Hayden Flour Mills, Heartland Mills Inc., US Durum Milling Inc., Carr's Flour Mills Ltd., FWP Matthews Ltd., Wilkins Rogers Mills, Wudeli Flour Group, Wilmar International Limited

Asia-Pacific was the largest region in the flour market in 2023. The regions covered in the flour market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the flour market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The flour market consists of sales of white whole wheat, semolina, rye, and barley flour. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Flour Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on flour market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for flour ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The flour market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include:

The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.

The impact of higher inflation in many countries and the resulting spike in interest rates.

The continued but declining impact of covid 19 on supply chains and consumption patterns.

• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

Markets Covered:

• 1) By Type: Wheat; Maize; Rice; Oats; Other Types
• 2) By Form: Wet; Dry
• 3) By Sales Channels: Direct; Indirect
• 4) By Application: Noodles And Pasta; Bread And Bakery Products; Animal Feed; Wafers, Crackers, And Biscuits; Non-Food Application; Plastics, Biomaterials, And Glue; Other Applications
• Companies Mentioned: The Archer-Daniels-Midland Company; Bunge Limited; General Mills Inc.; Conagra Brands Inc.; Ingredion Incorporated
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
• Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
• Delivery format: PDF, Word and Excel Data Dashboard.