Functional flour market expected to reach 78 billion by 2022
According to MarketsandMarkets, a worldwide market research firm, the market for functional flour is projected to reach USD 78.00 Billion by 2022, growing at a CAGR of 7.82% from 2016, in terms of value, and 156.92 MT in terms of volume by 2022.
This is driven by the rise in consumption of processed and packaged food products in developed and developing countries. The increase in demand for premium food products, growth in consumption of convenience and healthy food products, and intensification of the global trade of functional flours are the factors driving the demand for functional flours.
Legume-based flours have the highest CAGR, with different content levels of starch and protein to meet a variety of food manufacturers needs in different applications. These flours enable food manufacturers and retailers to produce new food products that are highly nutritious, protein-fortified, have a low-glycaemic-index, and are gluten-free.
The report from MarketsandMarkets studies marketing and development strategies, along with the product portfolios of leading companies such as Cargill, Incorporated (U.S.), Archer Daniels Midland Company (U.S.), Bunge Limited (U.S.), Associated British Foods plc (U.K), and General Mills, Inc. (U.S.).