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The flour market has experienced substantial growth in recent years, expected to increase from $96.81 billion in 2023 to $102.33 billion in 2024, reflecting a compound annual growth rate (CAGR) of 5.7%. This growth during the historical period can be linked to factors such as population growth, shifting dietary patterns, economic development, globalization, and increasing health awareness.
What Is the Anticipated Growth Rate and Market Size of the Global Flour Market?
The flour market is projected to experience steady growth in the coming years, expected to reach $122.87 billion by 2028 with a compound annual growth rate (CAGR) of 4.7%. This growth during the forecast period can be attributed to trends in health and wellness, urbanization, environmental sustainability, shifting demographics, and the dynamics of global trade.
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What Is The Primary Growth Driver Of The Flour Market?
The growing population is anticipated to propel the flour market. Population refers to the increase in the total number of people residing in a particular area, region, or country, contributing to demographic growth. As populations rise, flour consumption is expected to increase due to its versatility in various food products and its status as a staple in diets around the world.
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Which Market Leaders Are Behind the Growth of the Flour Market?
Key players in the flour market include The Archer-Daniels-Midland Company, Bunge Limited, General Mills Inc., Conagra Brands Inc., Ingredion Incorporated, Hindustan Unilever Limited, Ardent Mills, Horizon Milling LLC, Dangote Flour Mills plc, Grain Millers Inc., King Arthur Baking Company Inc., Bay State Milling Company, Idaho Pacific Corporation, Mennel Milling Company, Interflour Group Pte. Ltd., Grain Craft, Miller Milling Company, Bob's Red Mill Natural Foods, Siemer Milling Company, Arrowhead Mills Inc., Hodgson Mill Inc., Lakeside Mills Inc., Sunrise Flour Mills, Great River Organic Milling, Star of the West Milling Company, Hayden Flour Mills, Heartland Mills Inc., US Durum Milling Inc., Carr's Flour Mills Ltd., FWP Matthews Ltd., Wilkins Rogers Mills, Wudeli Flour Group, Wilmar International Limited
What Key Trends Are Impacting The Size Of The Flour Market?
Leading companies in the flour market are concentrating on advanced solutions like high-fiber wheat flour to address changing consumer demands for healthier and more functional food options. High-fiber wheat flour is a type of flour that contains a higher concentration of dietary fiber sourced from wheat grains, promoting digestive health and providing potential nutritional benefits.
How Is The Global Flour Market Segmented?
1) By Type: Wheat, Maize, Rice, Oats, Other Types
2) By Form: Wet, Dry
3) By Sales Channels: Direct, Indirect
4) By Application: Noodles And Pasta, Bread And Bakery Products, Animal Feed, Wafers, Crackers, And Biscuits, Non-Food Application, Plastics, Biomaterials, And Glue, Other Applications
Regional Insights: Asia-Pacific Paving the Way in the Flour Market
Asia-Pacific was the largest region in the market in 2023. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is The Definition Of The Flour Market?
Flour is a product made from finely ground grains and serves as a fundamental ingredient in baked goods, as well as in various food products. Wheat flour is particularly well-suited for baked goods that need a spongy texture.
The Flour Global Market Report 2024 from The Business Research Company includes the following key information:
• Market size data for both historical and future periods
• Analysis of both macro and microeconomic factors that have impacted the market over the past five years
• Regional market analysis covering Asia-Pacific, China, Western Europe, Eastern Europe, North America, the USA, South America, and the Middle East and Africa
• Country-specific market analysis for Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.
Overview of the Global Flour Market Report: Trends, Opportunities, Strategies, and More
The Flour Global Market Report 2024 from The Business Research Company is an extensive resource that delivers insights into flour market size, flour market drivers and trends, flour competitors' revenues, and flour market growth across geographies. This report provides valuable in-depth insights into potential opportunities and strategies. Companies can utilize the information presented to target segments with the greatest growth potential.
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