According to the latest report by IMARC Group, titled "Wheat Flour Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the global wheat flour market size reached US$
241.0 Billion in 2022. Wheat flour refers to the fine powder that is obtained by grinding or milling of the whole grain of wheat. It forms a viscoelastic dough upon mixing with water, which is further processed for preparing a variety of dishes. Wheat flour contains gluten protein that offers strength and elasticity to the dough and texture to baked products. It is a rich source of fiber, carbohydrates and proteins with high concentrations of multiple vitamins and minerals, such as folate, copper, selenium, manganese and phosphorus. Its consumption, therefore, is often associated with boosting immunity, regulating blood cholesterol levels and maintaining blood sugar levels. As a result, it is widely used in the preparation of bread, cakes, pancakes, pastries, noodles, pasta and chapatti.
Global Wheat Flour Market Trends:
The market is primarily driven by the growing utilization of wheat flour in the food industry. It is widely used in the preparation of various bakery and fast food products. Catalyzed by shifting dietary preferences and inflating per capita income levels, along with significant growth in the food sector, the sales of wheat flour are bolstering across the globe. The low-fat content of wheat flour and the numerous health benefits associated with its consumption is contributing to its widespread popularity among the majority of the population. The market is further driven by the widespread preference for fortified flour with improved fiber content. In line with this, the growing health consciousness among the masses due to the rising incidences of chronic diseases is providing an impetus to the market growth. Apart from food applications, wheat flour finds extensive applications in the production of paper, shampoos, conditioners and adhesives. Increasing production of bioplastics, facilitated by an enhanced focus on sustainable development, is acting as another major growth-inducing factor. Furthermore, technological advancements have led to the integration of nanotechnology in wheat farming, which is creating a positive outlook for the market. On account of the aforementioned factors, the market is expected to exhibit a CAGR of 3.9% during 2023-2028.
- Based on the type, the market has been divided into all-purpose, semolina, whole-wheat, fine wheat and bread flour.
- On the basis of the end-use, the market has been classified into food use, feed use and biofuel, wherein the food industry exhibits a clear dominance in the market.
- Based on the distribution channel, the market has been categorized into supermarkets and hypermarkets, independent retailers, convenience stores, specialty stores, and online. At present, supermarkets and hypermarkets account for the majority of the total market share.
- On the geographical front, China holds the leading position in the market. Some of the other major regions include India, the European Union, Turkey and the United States.
- The competitive landscape of the market has been examined in the report with the detailed profiles of the key players. Some of these players include Wudeli Flour Mill Group, Ardent Mills LLC, Archer Daniels Midland Company, General Mills, Inc., Allied Pinnacle Pty Limited, Manildra Milling Pvt Ltd, Acarsan Flour Mills, Korfez Flour Mills, George Weston Foods Limited, and Hodgson Mill, Inc.
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