The overall functional flavor market is expected to grow from USD 49.65 billion in 2016 to USD 78.00 billion by 2022, at a CAGR of 7.82% from 2016 to 2022. Functional flours are used in a variety of food & beverage products providing the desired organoleptic characteristics. These flours undergo heat treatment, protein treatment, enzyme treatment, vitamin and mineral treatment, or water treatment in order to increase their stability, regularity, and other functions and also to enhance their nutritive values. The market for functional flours is driven by the rising demand from the food & beverage processing industry. Functional flours are being used in many applications such as bakery products, soups & sauces, RTE products and other applications. The base year considered for the study is 2015, and the forecast has been provided for the period between 2016 and 2022.
Governments and associations are promoting the usage of functional flours due to the increasing instances of nutritional deficiency in larger demographics. They are hence promoting the usage of enriched flours. For instance, the associations of industrial millers in Latin America and the Caribbean played an important role in promoting and enabling flour fortification throughout the region. Another such program by the Flour Fortification Initiative has led to the broad implementation of flour fortification in countries of the Eastern Mediterranean, Middle Eastern, and North African regions. Many companies such as Cargill, Incorporated (US) have joined this initiative to promote functional flours.
These initiatives are creating awareness among processors and are resulting in the wider acceptance of enriched flours. Moreover, technological developments, business developments, increasing trade, and marketing in support of flour fortification are further promoting the usage of functional flours.
The following are the major objectives of the study.
- To describe and forecast the functional flour market, in terms of value, by type, application, source, and region
- To describe and forecast the market, in terms of volume, by type and application
- To describe and forecast the functional flour market, in terms of value, by region–Asia Pacific (APAC), Europe, North America, and Rest of the World (RoW) along with their respective countries
- To provide detailed information regarding major factors influencing market growth (drivers, restraints, opportunities, and challenges)
- To strategically analyze micromarkets with respect to individual growth trends, prospects, and contributions to the overall market
- To study the complete value chain of functional flour
- To analyze opportunities in the market for stakeholders by identifying the high-growth segments of the functional flour
- To strategically profile key players and comprehensively analyze their market position in terms of ranking and core competencies, along with detailing competitive landscape for market leaders
- To analyze strategic approaches such as product launches, acquisitions, contracts, agreements, and partnerships in the functional flour market
Food&farming 