Functional flours market overview and global trends to 2019
Study categorises the functional flours market on the basis of type and application; the regional analysis is further extended with market size projections and contributing countries
Packaged food manufacturers have witnessed tremendous growth in the processed food industry during the last 5 years.
This has considerably affected the functional flours industry and an upsurge has also been recorded in this industry. New technologies have initiated the emergence of innovative products derived from cereals.
Developing countries present a viable market for manufacturers, as these regions are emerging as potential markets with the availability of raw materials. The rise in disposable income of the growing middle-class population in developing countries is also creating demand for a broader range of products.
To maintain a competitive edge in the functional flours market, the key players were observed to prefer investment and expansion as a strategy to move into new and untapped markets, building a new customer base for long-term client relationships and acquiring local players of the industry.
This has not only enabled key players to expand their geographical reach, but has also reinforced their market position by gaining a larger share in terms of revenue and product portfolios. Small-scale players also adopted this strategy to expand their businesses, globally, by investing in the establishment of manufacturing facilities and technical service centres in various regions.
This organic growth strategy is an important proposition for smaller companies, enabling them to increase their technical expertise through intensive R&D infrastructure offered by bigger players. Leading players such as Archer Daniels Midland Company (US), Associated British Foods (UK), Bunge Limited (US), Cargill (US), General Mills, Inc. (US) and SunOpta, Inc. (Canada) have been profiled in the report. Other prominent companies in the market are AGRANA Beteiligungs-AG (Austria), The Hain Celestial Group, Inc. (US), The Scoular Company (US) and Parrish and Heimbecker, Limited (Canada). These key players were also observed to prefer investments and expansions to gain a larger share in the market.
The report provides a complete analysis of the key companies and a chronology of developments with respect to new products and their applications. It also analyses the market dynamics. The report also highlights key market drivers and restraints for the key regions of the world.
North America led the market for functional flours in 2013, owing to substantial growth in the processed food industry, resulting from the high consumption of food products such as bakery, RTE, extruded snacks, soups and sauces. The markets in the Asia-Pacific and RoW regions are estimated to grow at a higher rate as compared with the matured markets of developed economies.
