Market Size in 2021 | Market Forecast in 2028 | CAGR (in %) | Base Year |
---|---|---|---|
USD 72,192.5 Million | USD 107,735.3 Million | 6.9% | 2021 |
FrequentlyAsked Questions
The growing demand for functional flours is being driven by the food and beverage manufacturing industries. Functional flours are utilized in a variety of applications, including bakery items, soups and sauces, RTE products, and others. In addition, rising gluten allergies are driving up demand for non-wheat flour. This is increasing demand for functional flours, which include soy flour, rye flour, and oat flour, among others.
According to the Market Research report, the Functional Flour Market was worth about 72,192.5 (USD million) in 2021 and is predicted to grow to around 107,735.3 (USD million) by 2028, with a compound annual growth rate (CAGR) of around 6.9 percent.
North America dominates the industry with high knowledge of product efficiency and a need for luxury items. New trends in functional bars in the United States show that the country's desire for functional food products is expanding. Consumption of nutritive convenience and fortified food is increasing, as is health awareness, leading to increased consumption of healthier diets, boosting the market.
Some of the main competitors dominating the Functional Flour Market include - Cargill, Incorporated (US), Archer Daniels Midland Company (US), Bunge Limited (US), Associated British Foods plc (UK), and General Mills, Inc. (US). Other players include The Scoular Company (US), AGRANA Beteiligungs-AG (Austria), The Hain Celestial Group, Inc. (US), SunOpta, Inc. (Canada), and Parrish and Heimbecker, Limited (Canada).
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