According to “The Insight Partners” latest market study on "Wheat Flour Market Forecast to 2027 – Covid-19 Impact and Global Analysis - by Product Type ( All-Purpose Flour, Semolina and Durum Flour, Whole-Wheat Flour, Bread Flour, Others ); Application ( Bread, Bakery Products, Noodles and Pasta, Others ); End User ( Residential, Commercial ); Distribution Channel ( Supermarkets and Hypermarkets, Convenience Stores, Online, Others )," the market was valued at US$ 181,377.66 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 report highlights key driving factors and prominent market players along with their developments in the market.
Wheat flour is widely known for its nutritional properties and abilities such as reducing cholesterol levels, regulating metabolism, minimizing obesity, and balancing blood sugar levels. Additionally, wheat flour is formed of highly nutritious fiber, which has abundant presence of essential nutrients such as vitamins, minerals, and catalytic elements, especially vitamin B and E. The consumption of wheat flour is also perceived to alleviate the risk of breast cancer by boosting the metabolic rate of estrogen. Moreover, wheat flour is known to impart nourishment, skin protection, and energy required for overall body functions. Rising inclination toward healthy lifestyle and growing incidence of diabetes, cancer, and other such diseases are among the factors driving the growth of the wheat flour market.
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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.
The COVID-19 outbreak was first reported in Wuhan (China) in December 2019, and since then, it has spread at a fast pace globally. Lockdowns, travel bans, and business shutdown measures implemented to the spread of infection have led to the limitations on the supplies of food and beverages products. This represents a significant loss for wheat flour manufacturers.
Archer Daniels Midland Company, Acarsan Holding, Allied Pinnacle Pty Limited, Ardent Mills LLC, General Mills Inc, George Weston Foods Limited, ITC Limited, The King Arthur Baking Company, KORFEZ Flour Group, and Manildra Group are among the well-established players in the global wheat flour market.
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