Categories: Food & Beverages

Flour Market Forecast 2024-2033: Growth Rate, Drivers, And Trends

The Flour Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Flour Global Market Report 2024, The flour market size has grown strongly in recent years. It will grow from $96.81 billion in 2023 to $102.33 billion in 2024 at a compound annual growth rate (CAGR) of 5.7%. The growth in the historic period can be attributed to population growth, changing dietary patterns, economic development, globalization, health awareness.

The flour market size is expected to see steady growth in the next few years. It will grow to $122.87 billion in 2028 at a compound annual growth rate (CAGR) of 4.7%. The growth in the forecast period can be attributed to health and wellness trends, urbanization trends, environmental sustainability, changing demographics, global trade dynamics. Major trends in the forecast period include technology integration, technological advancements, consumer preferences and dietary shifts, technological advancements and processing innovations, government regulations and quality standards.

The rise in the consumption of bakery products is expected to propel the growth of the flour market going forward. Bakery products refer to goods that are often made from flour or other grains. Bakery producers are increasingly altering their product offerings to accommodate changing consumer tastes and requirements such as less fat and high nutritional value food items. These foods are high in calories and nutritional value. Due to these advantages, there is an increasing demand for bakery items, which is likely to enhance the cookies and crackers market. For instance, in October 2022, according a stats sourced from Euromonitor International, 2022 published on Government of Canada official website, retail sales of baked goods in US reaching $67.9 billion in 2021 and is expected to reach US$75.8 billion in 2026. Therefore, the rise in the consumption of bakery products is driving the growth of the flour market.

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The flour market covered in this report is segmented –

1) By Type: Wheat, Maize, Rice, Oats, Other Types

2) By Form: Wet, Dry

3) By Sales Channels: Direct, Indirect

4) By Application: Noodles And Pasta, Bread And Bakery Products, Animal Feed, Wafers, Crackers, And Biscuits, Non-Food Application, Plastics, Biomaterials, And Glue, Other Applications

Major companies operating in the flour market are focusing on advanced solutions such as high-fiber wheat flour to meet evolving consumer demands for healthier and more functional food options. High-fiber wheat flour is a type of flour with an increased concentration of dietary fiber derived from wheat grains, promoting digestive health and offering potential nutritional benefits. For instance, in March 2023, Bay State Milling Company, a US-based plant-based ingredient provider, launched Wingold Wellness multi-purpose flour, featuring three times the gut-friendly fiber of standard refined wheat flour while maintaining identical taste, functionality, and quality, providing a rich fiber source for various applications such as pizza, pasta, bread, and tortillas without additional fiber additives. Crafted solely from wheat, this innovative flour presents retail and wholesale bakeries and manufacturers with a convenient, cost-effective solution to boost a product’s nutritional value without necessitating formulation modifications.

The flour market report table of contents includes: