Albany - NY, Oct. 20, 2015 (GLOBE NEWSWIRE) -- A new Transparency Market Research report states that the global flour market will expand at a CAGR of 3.8% from 2014 to 2020. In 2013, the market stood at US$182.66 billion and is anticipated to reach US$245.82 billion by 2020. The title of the report is "Flour Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020".The global flour market is majorly stimulated by the rising consumption of dough, expanding global population, increasing per capita income, and the shift in the taste preferences of consumers worldwide. Furthermore, the increase in consumer awareness about bakery products and the rise of the fast food industry has fuelled the global flour market. Additionally, the increasing demand for flour that is high in protein has led to a new opportunity for various flour millers to introduce new gluten-free substitutes to flour. These gluten-free alternatives include rice flour, maize flour, corn flour, and soya flour and their demand is predicted to increase rapidly in the forecast horizon.
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On the basis of raw material, the flour market is segmented into rice, maize, wheat, and others including rye flour and oat flour, among others. On the basis of technology, the global flour market is segmented into wet technology and dry technology. Flour is processed through both wet and dry milling technologies. Companies engaged in flour milling convert the agricultural crops, namely wheat, maize, rice, and rye, among others, into flour by utilization of either wet milling or dry milling technology.In the process of flour milling, a large number of milling processes are involved, such as conditioning of the grains, grain purifying, grain blending, etc. Particularly in the wet milling technology, the flour is prepared through a number of processes such as cleaning the raw crops, grinding, derivative steeping, and end output drying, among others.
On the basis of application, the flour market is segmented into bakery and bread products, pasta and noodles, animal feed including pet food, crackers, wafers, biscuits, and non-food applications such as biomaterials, glue, bio plastics, etc. Other application segments include baby food and roux.On the basis of geography, the flour market is segmented into Europe, Asia Pacific, North America, and Rest of the World (RoW). Among these, in 2013, on the basis of revenue, Europe represented the biggest share in the market due to greater per capita consumption and increased average selling price (ASP) of flour. On the other hand, based on volume, Asia Pacific represented the biggest share in the market the same year owing to decreased average selling price of flour products and increased population density.
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Archer Daniels Midland Company (U.S.), Ardent Mills Canada (Canada), ConAgra Foods, Inc. (U.S.), Associated British Foods plc (United Kingdom), General Mills Inc (U.S.), Hodgson Mill., ITC Limited. (U.S.), Hindustan Unilever Limited (India), King Arthur Flour Company, Inc. (U.S.), Wilmar International Limited (Singapore), and White Wings (Australia), among others, are some of the key players in the market.
The flour 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
Flour market, by geography:
- North America
- Asia Pacific
- Rest of the World (Latin America, Middle East and Africa)
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Source:Transparency Market Research