(MENAFN- IMARC Group)
IMARC Group, a leading market research company, has recently releases report titled “Flatbread Market: Global industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032” The global flatbread market size reached US$ 45.8 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 72.8 Billion by 2032, exhibiting a growth rate (CAGR) of 5.14% during 2024-2032.
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Factors Affecting the Growth of the Flatbread Industry:
Changing Consumer Preferences:
The rising consumption of flatbread due to changing tastes and preferences of individuals is bolstering the growth of the market. In line with this, increasing preferences for healthier and more convenient food choices among individuals is propelling the market growth. Furthermore, flatbread is widely consumed among individuals due to its versatility. These thin and unleavened breads are seen as a lighter and potentially healthier alternative to traditional bread. In addition, people are seeking options that align with their wellness goals.
Rising Focus on Health and Wellness:
The increasing focus on health and wellness among the masses across the globe is supporting the growth of the market. Apart from this, consumers are increasingly opting for flatbread as part of their balanced diet on account of their lower calorie and carbohydrate content. In addition, the rising adoption of flatbread as a guilt-free alternative for wraps, sandwiches, and pizza crusts is contributing to the market growth. Besides this, manufacturers are focusing on highlighting the nutritional benefits of their flatbread products to grab the attention of a wider consumer base.
Convenience and Time-Saving:
The increasing need for convenient and time-saving food options among individuals is impelling the growth of the market. In addition, the rising consumption of flatbread among people with busy lifestyles and hectic working schedules is supporting the market growth. Apart from this, flatbread is quick and easy to prepare, making it an ideal choice for individuals with fast-paced lifestyles. Furthermore, the growing demand for flatbread, as it offers a hassle-free meal option to consumers, is offering a positive market outlook.
Key players operating in the Flatbread Industry:
Atoria's Family Bakery Evron Foods Ltd. Gruma S.A.B. de C.V. Klosterman Baking Company Kontos Foods Inc. La Brea Bakery (Aryzta AG) Olé Mexican Foods Inc. Signature Flatbreads Ltd Tyson Foods Inc.
Flatbread Market Report Segmentation:
By Product Type:
Tortilla Naan Pita Focaccia Fry Bread Others
Tortilla represents the largest segment due to its wide utilization in tacos, burritos, quesadillas, and enchiladas.
By Distribution Channel:
Business-to-Business Business-to-Consumer Hypermarkets and Supermarkets Specialty and Convenience Stores Bakeries Online Stores
Business-to-business holds the biggest market share as it involves larger volumes of products or services and higher monetary values as compared to business-to-consumer (B2C) transactions.
Regional Insights:
North America (United States, Canada) Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others) Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others) Latin America (Brazil, Mexico, Others) Middle East and Africa
Asia Pacific enjoys a leading position in the flatbread market on account of changing preferences and needs of individuals.
Global Flatbread Market Trends:
The rising demand for gluten-free flatbread among health-conscious individuals across the globe is impelling the growth of the market. In line with this, the wide variety of flatbread via online and offline distribution channels around the world is bolstering the market growth. Furthermore, people are increasingly preferring online stores due to their enhanced convenience and doorstep delivery solutions.
Apart from this, innovations in flatbread flavors attract consumers looking for unique taste experiences. In addition, the increasing demand for flatbread products that are ethically sourced is supporting the market growth.
Other Key Points Covered in the Report:
COVID-19 Impact Porters Five Forces Analysis Value Chain Analysis Strategic Recommendations
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IMARC Group's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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