The global wheat flour market size was USD 155.08 billion in 2020. The market is projected to grow from USD 160.66 billion in 2021 to USD 210.77 billion in 2028 at a CAGR of 3.95% in the 2021-2028 period.

This information is provided by Fortune Business Insights, in its report, titled, “Wheat Flour Market, 2021-2028.”

Our knowledgeable analysts claim that the wheat flour market is expanding quickly on a global scale. There has been a significant increase in consumer demand for baked goods, including bread, cakes, pastries, biscuits, and cookies. This has increased demand for wheat-based flour in the food business. The market for flour is expected to rise in the upcoming years due to the increasing usage of wheat-based flour in additional applications like pasta and noodles.

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COVID-19 Impacts:

Growing Wheat Production to Drive the Demand

Like all other grains, wheat is considered a necessary food source, as are the flour and bread that are produced from it. Wheat demand is not greatly affected by price changes. The COVID-19 pandemic has had a minimal direct impact on wheat.

The most recent estimate by the International Grain Council predicts that wheat production will surpass 765 million tons. As a result, it is anticipated that wheat production would increase by 2 million tons over the previous year. The production of flour made from wheat is anticipated to expand in the upcoming years due to this increase in wheat yield.

Segmentation:

Type, Application, and Region are studied for the Market

On the basis of type, the market is segmented into whole and refined. Due to its global reach and appeal, the value of refined or all-purpose flour is the highest in the global market.

Based on application, the market is fragmented into bread, bakery products, noodles & pasta, and others.

By geography, the market is studied across North America, Europe, Asia Pacific, South America, and the Middle East & Africa.

Report Coverage:

The market study looks closely at the industry and highlights important aspects including the main players, product categories, and applications. In addition, the study offers details on significant industry highlights and market trends. The report includes a number of additional factors in addition to the ones stated above that have aided in the market’s recent growth.

Drivers and Restraints:

Increasing Awareness of Fiber Rich Diets to Stimulate Growth

Customers’ desire for diets high in fiber has resulted in a sharp increase in the demand for whole wheat flour. Within the food industry, the usage of whole flour has increased significantly as a result of consumer knowledge of the health benefits of eating meals high in fiber.

Eating whole grain products is advised by several weight-loss plans in order to reduce the risk of lifestyle-related illnesses such as obesity, diabetes, and cardiovascular disease. The market is anticipated to increase in the upcoming years as a result of the rising demand for baked goods and snacks high in fiber.

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Regional Insights:

The substantial growth of the market is mostly attributable to China’s well-established food and beverage industry as well as rising business expenditures on the creation of novel wheat flour goods. As consumers’ discretionary income has grown, their lives have significantly improved. Cakes, biscuits, and premixes made with wheat flour are a few of the upscale goods that today’s consumers choose.

The demand from consumers for bread and other bakery goods is the main factor driving the wheat flour market share in Europe. The government has put policies in place to boost agricultural output, such as providing farmers with subsidies to encourage them to grow wheat crops more intensively.

Competitive Landscape:

Presence of Prominent Players to Improve Market Position

Because of the fragmentation of the global market, major competitors are concentrating on partnering with other businesses to broaden their product offerings. Additionally, it is probable that other notable rivals will encourage the rise of the wheat flour market by strategies including acquisitions, new product development, and facility expansion. The introduction of small enterprises into the flour sector significantly affects market competition, which in turn promotes market expansion.

Industry Developments:

  • September 2020: Panhandle Milling, a flour producer based in the United States, has announced the acquisition of the Arrowhead Mills facility in Hereford, Texas. Panhandle Milling hopes to expand its capabilities, products, and specialized packaging solutions by acquiring Arrowhead Mills’ assets.

List of Key Players Mentioned in the Report:

  • Ardent Mills (Colorado, U.S.)
  • Wudeli Flour Mill Group (China)
  • ADM Company (Illinois, U.S.)
  • General Mills (Minnesota, U.S.)
  • Allied Pinnacle Pty Ltd. (NSW, Australia)
  • Manildra Milling Pvt. Ltd. (NSW, Australia)
  • Acarsan Flour (Turkey)
  • Korfez Flour Mill (Delaware, U.S.)
  • George Weston Foods Ltd. (Toronto, U.S.)
  • Hodgson Mills, Inc. (Toronto, U.S.)

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