The global wheat flour market was valued at US$ 181,337.66 million in 2019 and is projected to reach US$ 219,995.42 million by 2027; it is expected to grow at a CAGR of 2.8% during 2020–2027. The scope of this study involves understanding the factors contributing to the growth of the market; it also includes estimating and forecasting the revenues, conducting the market share analysis, and spotting significant market players along with their key developments.
The wheat flour market has experienced tremendous growth in the past on the back of the development in food processing technologies and an increase in the demand for fast & convenience foods. The upsurge in demand for bakery products, snacks, noodles, and pasta, among others, has also bolstered the wheat flour market growth. Gluten is a naturally occurring protein in wheat, and it is responsible for the shape of the baked goods as it helps make the dough more elastic when kneaded. The amount of gluten may vary according to different varieties of wheat flour available. Low-gluten wheat variety is termed as “soft” or “weak,” and the high-gluten wheat variety is referred to as “hard” or “strong.” Different types of wheat flour are available in the market, which are used in specific applications to obtain the best possible finished product.
RISING DEMAND FOR CONVENIENCE FOODS INFLUENCE THE DEMAND OF WHEAT FLOUR GLOBALLY
Wheat flour is a powder prepared from grinding wheat. This type of flour is used as an essential ingredient in cookies, bread, cakes, and other baked goods. Gluten is wheat’s natural protein. Gluten gives baked goods their structure and texture. When the dough prepared from wheat flour is kneaded, the glutens develop and become elastic. Flour made from a hard, high-protein variety of wheat is called strong flours. They have a higher gluten content. Flours made from softer, low-protein wheat are called weak flours and are lower in gluten. The wheat flour market has witnessed a significant growth owing to factors such as increasing demand from bakery and food service industries coupled with rising demand for convenience food products such as bread, bakery products, snacks, noodles, and pasta.
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Based on end user, the wheat flour market is segmented into residential and households. In 2019, the residential segment dominated the wheat flour market. The growth of the segment is primarily attributed to the wide-scale application of wheat flour in the preparation of chapatti, nan, and puri (types of Indian bread), and tortillas. Moreover, the wheat flour is increasingly being used in the preparation of snacks and other bakery as well as confectionery items. It is a rich source of carbohydrates, proteins, and fibers. Other than this, this flour also comprises several minerals such as Selenium, Manganese, Folate, Copper and Phosphorus. In India, wheat flour is a common food ingredient found in every household.
The COVID-19 outbreak was first registered in Wuhan (China) in December 2019, and since then, it has spread at a fast pace around the globe. Extended lockdowns and travel bans owing to the rise in the number of COVID-19 cases have resulted in the limitation on the supplies of food and beverages. This represents a significant loss for wheat flour manufacturers as well.
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