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Functional Flours Market Size
Functional Flours Market size was valued at USD 87 billion in 2023 and is projected to grow at more than 8.2% CAGR from 2024 to 2032, led by the increasing demand for premium food products. Premiumization of food products helps make certain items more appealing to the consumers by offering superior quality and exclusivity.
Globally leading food brands are leveraging premiumization as a means to innovate and introduce unique food products. Companies such as Kraft Heinz, Starbucks, and Unilever are focusing on premium products by providing elevated sauces & spreads, personalized coffees, and prestige skincare. Furthermore, growing consumer awareness and inclination toward healthy foods will drive the functional flours market growth.
Volatile commodity prices may impede the production of functional flour. Due to changing economic scenarios, inflation, and political conflicts, the import-export of flour and flour ingredients has declined notably. Moreover, the increasing costs of food ingredients and changing trade relations may limit demand for functional flour to some extent.
How big is the North America functional flours industry?
North America market size will expand at over 7.5% CAGR between 2023 and 2032, led by the expanding bakery & confectionery sectors in the U.S., and Canada.
Who are the leading functional flour producers?
Cargill, Ingredion Incorporated, The Scoular Company., ICL Group, Amway, OTSUKA Pharmaceutical, General Mills, and Sunopta are some of the major producers of functional flours.
Why is the demand for functional flours increasing in bakery products?
The bakery products segment held over USD 30.8 billion in 2022, due to benefits such as enhanced taste, texture, and nutritional profile of the products.
How big is the functional flours market?
The market size of functional flours reached USD 87 billion in 2023 and will expand at more than 8.2% CAGR from 2024 to 2032.