(MENAFN- America News Hour)In a recent published report, Kenneth Research has updated the market report for Functional Flour Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Functional Flour Market products.
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Moreover, the median health expenditure per capita recorded in the high-income, upper-middle income, and low & lower-middle income countries, recorded to be over USD 2,000, USD 400, and USD 100 respectively. Additionally, in the same year, the spending on health in high-income countries and in the low- and middle-income countries comprised approximately 8.2% and 6.3% of the GDP respectively.
Global Functional Flour Market is estimated to reach $120billion by 2024; growing at a CAGR of 6.6% from 2016 to 2024. Flour is a finely ground powder, made from a variety of raw grains such as rice, oats, barley, corns, rye and peanuts and others. They are used for making food products and baked products. Wheat is the most commonly used among all the flours and is widely used in baking. It also contains additives in very small quantities. For instance, oxidizing agents such as potassium bromate, azodicarbonamide and chlorine dioxide are added to the flour to enrich the flour's baking quality. Pure wheat barn flour is the key source of minerals, dietary fiber, vitamin B6 and niacin, among all the other flour. Gluten-free flour which includes brown rice flour, coconut flour, almond flour and others are suitable for people who have gluten related disorders.
Growing export opportunities and high demand for gluten-free flour are fueling the growth of the functional flour market. Expansion of restaurants and cafes, and changing lifestyle are also boosting the growth of the market. Though, high use of addictive and unfavorable conditions at warehouses may restrain the growth of the market. Nevertheless, expanding aquatic feed industry and availability of gluten-free alternatives may provide growtg opportunities in coming years.
The global functional flour market has been segmented based on the raw material, type, product type, application and geography. By raw material, it is segmented into wheat, rice, maize, and others. By type, the market is segmented into fortified flours, pre-cooked flours and specialty flours. Product type can be segmented into conventional flours and addictive based flours. Furthermore, application is segmented into bakery products, non-food applications, noodles & pasta and others.
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By geography the market has been bifurcated into North America, Europe, Asia-Pacific and Rest of the World (RoW). The U.S., Canada and Mexico are covered under North America wherein Europe covers U.K., Germany, Italy, France, Spain and others. Asia-Pacific covers China, India, Japan, and others. Rest of the World (RoW) covers South America, Middle East and Africa.
The key market players of the market are Wilmar International Limited, General Mills Inc., ITC Limited, Hindustan Unilever Limited, Archer Daniels Midland Company, King Arthur Flour Company, Inc., Heartland Mills, Inc., Hodgson Mill, Associated British Foods plc, and ConAgra Foods, Inc. among others.
The key takeaways from the report:
The report will provide detailed analysis of Functional Flour Market with respect to major segments such as raw material, type, product type and application. The report will include the qualitative and quantitative analysis with market estimation over 2015-2024 and compound annual growth rate (CAGR) between 2016 and 2024. Comprehensive analysis of market dynamics including factors and opportunities will be included in the report. An exhaustive regional analysis of Functional Flour Market has been provided in the report.
Profile of the key players in the Functional Flour Market will be provided, which include key financials, product & services, new developments and business strategies.
Scope of Functional Flour Market
Raw Material Segments
Wheat
Rice
Maize
Others
Type Segments
Fortified Flours
Pre-Cooked Flours
Specialty Flours
Product Type Segments
conventional flours
addictive based flours
Application Segments
bakery products
non-food applications
noodles & pasta
others
Geography Segments
North America
US
Canada
Mexico
Europe
U.K.
Germany
Italy
France
Spain
Others
Asia-Pacific
China
India
Japan
Others
RoW
South America
Middle East
Africa
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About Kenneth Research
Kenneth Research is a reselling agency providing market research solutions in different verticals such as Automotive and Transportation, Chemicals and Materials, Healthcare, Food & Beverage and Consumer Packaged Goods, Semiconductors, Electronics & ICT, Packaging, and Others. Our portfolio includes set of market research insights such as market sizing and market forecasting, market share analysis and key positioning of the players (manufacturers, deals and distributors, etc), understanding the competitive landscape and their business at a ground level and many more. Our research experts deliver the offerings efficiently and effectively within a stipulated time. The market study provided by Kenneth Research helps the Industry veterans/investors to think and to act wisely in their overall strategy formulation
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