Market Overview
Flour is a powder made by grinding uncooked cereal grains, seeds or roots. It mainly comes from wheat, however, it can be milled from rice, corn, nuts, legumes, and some fruits & vegetables. Depending on the base and extraction rate (the amount of flour removed from the grain) variations within the nutrient content of flour may occur.
Enriched flour offers essential vitamin and minerals which is lost in the process of preparation. The purpose of enriching the flour is to reload the nutrients in the flour to match the nutritional status of the unprocessed product. Enriched flour is gaining massive acceptance among the consumers owing to the increasing awareness of malnutrition among the consumers.
The global market for enriched flour has been experiencing high demand for the last few years and is projected to reach USD 109.62 billion by 2023 compared to USD 72.14 billion in 2021. The growing demand for enriched flour in various industries is expected to drive the market. The overall increasing disposable income of the consumer and their evolving buying pattern over the past few years has led to a surge in the sales of enriched flour during the forecast period.
Competitive Landscape
The major key players in enriched flour are:
- Cargill, Incorporated (U.S.)
- Archer Daniels Midland Company (U.S.)
- Associated British Foods PLC (U.K)
- Ingredion Incorporated (U.S.)
- The Hain Celestial Group, Inc. (U.S.)
- General Mills, Inc. (U.S.)
- Bunge Limited (U.S.)
- The Scoular Company (U.S.)
- Parrish and Heimbecker, Limited (Canada)
- Knappen Milling Co (U.S.)
- The Caremoli Group (Italy)
- SunOpta (Canada)
- Limagrain (France)
- AGRANA Beteiligungs-AG (Austria)
- Unicorn Grain Specialties B.V. (The Netherlands)
Market Segmentation
On the basis of the source of enriched flour, the cereals segment is dominating the market holding a global market share of 70.8%. However, the legumes segment is expected to be the fastest growing segment over the forecast period.
On the basis of the application of enriched flour, the bakery & confectionery segment is dominating the market with a major market share of 35% in the year 2017. However, the soup and snacks segment is also witnessed to have substantial growth over the forecast period.
Based on the enrichment, the vitamins segment is dominating the market with a leading share of 57.1% in the year 2017. However, the minerals segment is projected to witness higher growth rate over the forecast period at a CAGR of 7.43%.
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Regional Analysis
Among the regions, North America is dominating the enriched flour market with over 30.85% of the global market share and is projected to reach more than USD 33.30 billion by 2023. In North American region, the U.S. is dominating the market and is expected to grow at the highest rate over the forecast period.
Moreover, Asia Pacific is projected to witness the highest growth rate during the forecast period, 2017-2023 in which India is expected to grow at the highest growth rate. In the Asia Pacific region, China is dominating the market with leading market share of 25.78% in the year 2017.
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