Global Functional Flour Market Report, published by Variant Market Research, forecast that the global market is expected to reach $120 billion by 2024 from $72 billion in 2016; growing at a CAGR of 6.6% from 2016 to 2024. By geography, Asia Pacific and North America are expected to grow at a CAGR of 8.2% and 6.4%, respectively, during the forecast period.

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The major factors driving the global functional flour market are rising population, growing expansion of cafes & fast-food restaurants worldwide, and change in lifestyle. Additionally, development of commercial farmlands due to the rising export prospects and high demand for gluten-free flour globally boost the market growth. However, increasing usage of additives and unfavorable conditions at warehouses may restrict the growth of the market. Moreover, growing aquatic feed industry and gluten-free alternatives such as corn flour, and brown rice flour among other are expected to provide growth opportunities over the forecast period.

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The key segments of the functional flour market are raw material, type, product type, and application. By raw material, the market is further divided into maize, wheat, rice and others. The largest market share was occupied by wheat in 2016, whereas maize is expected to dominate the market with fastest CAGR during the forecast period 2016-2024. Moreover, by type, the market is categorized into specialty flours, pre-cooked flours, and fortified flours. The market by application comprises of noodles & pasta, bakery products, non-food applications and others. Within applications segment bakery products dominated the market accounting for 42.9% in 2016.

North America, Europe, Asia-Pacific and Rest of the World (RoW) are the major geographical classifications of the global functional flour market. The largest market share of 33.1% was occupied by North America in 2016, driven by the remarkable heave in per capita consumption in the recent years, demand for whole grain pastas & retain packed bread and popularity of gluten-free diet. The second largest market share of 29.6% was accounted by Asia-Pacific and is anticipated to continue its supremacy throughout the forecast period 2016-2024, driven by growing population, increasing fast food chains, increase in consumer expenditure, increasing demand for gluten-free flours and changing lifestyles.

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The key market players of the market are ITC Limited, General Mills Inc., Hindustan Unilever Limited, Archer Daniels Midland Company, Hodgson Mill, King Arthur Flour Company, Inc., Wilmar International Limited, ConAgra Foods, Inc., Associated British Foods plc, and Heartland Mills, Inc., among others.

Scope of Functional Flour Market
Raw Material Segments
• Maize
• Wheat
• Rice
• Others

Type Segments
• Pre-Cooked Flours
• Fortified Flours
• Specialty Flours

Product Type Segments
• Conventional Flours
• Addictive Based Flours

Application Segments
• Noodles & Pasta
• Bakery Products
• Non-Food Applications
• Others

Geography Segments
• North America
o US
o Canada
o Mexico

• Europe
o U.K.
o Germany
o Italy
o France
o Spain
o Others

• Asia-Pacific
o China
o India
o Japan
o Others

• RoW
o South America
o Middle East
o Africa

About Variant Market Research
Variant Market Research offers syndicated and customized reports to fulfill clients' objectives. We also provide customized data pack proposing market sizing in an Excel/PDF/PowerPoint or Word format as per the requirement of clients. We cover several industry domains, namely Semiconductor & Electronics, Consumer Electronics, Information and Communication Technology, Automotive, Consumer Goods, Food & Beverages, Pharmaceuticals, Medical Devices, Chemicals, Industrial, Mining Equipment, Automation, Manufacturing, Construction, Energy & Power, Defense & Aerospace and Banking, Financial services and Insurance (BFSI). Our expertise are data triangulation, competitor benchmarking, parent market benchmarking, estimating market size and forecast of the market from 2016 to 2024.
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