Albany, NY, March 18, 2015 (GLOBE NEWSWIRE) -- According to a new market report published by Transparency Market Research "Flour Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020," market was valued at USD 182.66 billion in 2013, which is expected to reach USD 245.82 billion by 2020, growing at a CAGR of 4.3% from 2014 to 2020. By volume, global flour market is expected to grow at a CAGR of 3.8% during the forecast period from 2014 to 2020 to reach a market size of 183,100.0 Kilo Ton by 2020. In 2013, volume of the market was 141,001.3 Kilo Ton.
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Increasing demand for bread and bakery products and convenience staple food is the major factor driving the flour market globally. Flour is fine and coarse powder processed from agricultural crops which include maize, rice, wheat and rye among others. Flour is processed by purifying, conditioning, grinding, blending, extracting and drying cereals, seeds and roots. In terms of applications, flour is used in different food items such as noodles and pasta, pet food, wafers, biscuits, crackers, biomaterials, bread and bakery products. With the rise in per capita income and increasing awareness towards convenience food staples, demand for bread and bakery products has increased in recent years. Rising consumer awareness towards low protein gluten free food items is positively driving the consumption of non wheat flours (rye, corn and rice) in the form of gluten free food items. Expansion of aquatic feed industry in Asia Pacific has increased the flour consumption in the form of animal feed. These factors are considered to positively drive the growth of flour market during the forecast period, i.e., from 2014 to 2020.
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The global flour market, by application is divided into six application segments: noodles and pasta, bread and bakery products, wafers, crackers and biscuits, animal feed (including pet food), non food application (including bioplastics, biomaterials, and glue), and others (including roux and baby food). Both by revenue and volume, bread and bakery products were the largest contributor in global flour market in 2013, accounting for a market share of 38.73% and 35.61% respectively. Generally, wheat flour is being used as principal ingredient for bread and bakery products. With the rise of per capita income and increasing awareness towards convenience food staples, demand for bread and bakery products has increased in recent years. Growth in consumption of bread and bakery products is triggered by factors such as increase in penetration of fast food industry in Asia Pacific and rising demand for convenience food due to lifestyle up gradation.
The global flour market has been segmented into four broad regions: North America, Europe, Asia Pacific and RoW. By volume, Asia Pacific contributed the largest market share in 2013, accounting for 37.32% of the overall market. Low average selling price of flour and high population density are key volume growth driver for Asia Pacific flour market. By revenue, Europe contributed the largest market share in 2013, accounting for 32.32% of the overall market. High per capita consumption of flour in the form of bread and bakery products and increase in average selling price of flour are key revenue growth drivers for Europe flour market.
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Some of the leading players in the market are Ardent Mills Canada (Canada), Archer Daniels Midland Company (U.S.), Associated British Foods plc (United Kingdom), ConAgra Foods, Inc. (U.S.), General Mills Inc (U.S.), King Arthur Flour Company, Inc. (U.S.), Hindustan Unilever Limited (India), Hodgson Mill., ITC Limited (U.S.), White Wings (Australia) and Wilmar International Limited (Singapore) among others. The report studies the global flour market and provides estimates in terms of revenue (USD Billion) and volume (Kilo Ton) from 2014 to 2020. The scope of the report includes competitive analysis of various market segments based on the raw material, technology and applications and in-depth cross sectional scrutiny of the flour market across different geographic segments.
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The market has been segmented as follows:
Flour market, by raw material:
- Maize (Including corn flour)
- Wheat (Including durum flour)
- Others (Including oat flour, rye flour, etc.)
Flour market, by Application:
- Noodles and pasta
- Bread and bakery products
- Wafers, crackers and biscuits
- Animal feed (Including pet food)
- Non food application (Including bioplastics, biomaterials, glue, etc.)
- Others (Including roux, baby food, etc.)
Flour market, by Technology:
- Dry technology
- Wet technology
The market is segmented on the basis of geography into:
- North America
- Asia Pacific
- Rest of the World (Latin America, Middle East and Africa)
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Source:Transparency Market Research