Global Market for Modified Flour to Generate Substantial Increment in Dollar Opportunities After the COVID-19 Lockdown Ends

XploreMR presents useful insights on the competitive landscape and key player strategies in a new study titled “Modified Flour Market: Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2026”

Increasing demand for binders in production of several food products and industrial goods has driven the modification of starches and flours. The global milling industry is witnessing a growing uptake for modification technologies and flours are being fortified with additives, micronutrients and a variety of ingredients. Flour producing companies are gradually shifting towards modification techniques to reap profits from growing demand for modified flours. With technological advancements, the modification of flours has become more efficient and economical. New technologies are enabling high-quality texturizing of flours. Companies are able to cater to the custom demands by modifying flours to meet the water absorption and solubility requirements of end-users. Viscosity, water suspension, and other properties of modified flours are extending the application purview in the food industry. Few years down the line, modified flours are likely to witness an overtaking demand compared to conventional flours. However, high prices, low consumer awareness and complexities in global modified flour supply chain will be observed as key market growth deterrents.

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Market Insights’ recently-published forecast study estimates that the global modified flour market will expand at a volume CAGR of 3.6% over the forecast period, 2017-2026. By the end of 2026, it has been estimated that more than 1,130,000 tons of modified flours will be sold across the globe. The report further estimates that the Asia-Pacific excluding Japan (APEJ) region will be the largest producer of modified flours, while Europe will represent most lucrative consumer marketplace for modified flours through 2026.

Predominant Demand for Wheat Flour Products to Drive Market Growth

High consumption of wheat flour recorded in several parts of the world has instrumented an equally high demand for modification of wheat flour. In 2017, wheat flour represented top-selling product in the global modified flour market, accounting for more than half of global market volumes. By 2026-end, more than 615,000 tons of wheat flour will be modified across the globe. The report further reveals that the demand for soy flour products will gain maximum traction in the global modified flour market. Over the forecast period, soy flour is likely to register highest volume CAGR of 4.4%.

A majority of modified flours are expected to be used in bakery & confectionery items. The report also identifies that extruded snacks will be a lucrative application for modified flours in the near future. Their role as binders will further propel their application in production of soups. Collectively, the application of modified flours in bakery & confectionery, soups and extruded snacks will translate into a gross share of more than 60% on the global modified flour market volumes throughout the forecast period.

Activated Carbons to Represent Key Ingredients in Modification of Flours

Through 2026, majority of flours are likely to be modified with activated carbons as key ingredients. Over the forecast period, flours modified with activated carbons are expected to register a volume CAGR of 4.6%. The report also observes as growing demand for modified flours enriched with microcrystalline cellulose (MCC) and methylcellulose ingredients. By the end of 2026, more than 196,000 tons of modified flours containing MCCs will be sold across the globe.

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Direct sales of modified flours are expected to account for more than 50% of the overall modified flour sales in the global market. By 2026-end, over 624,000 tons of modified flours will be sold through direct sales channels across the globe. The report further reveals that online sales of modified flours will gain traction over the forecast period, registering a volume CAGR of 3.9%.

Key Producers of Modified Flour

Cargill Incorporated, Archer Daniels Midland Company, The Scoular Company, Associated British Foods plc, The Hain Celestial Group, Inc., General Mills,Inc., ConAgra Foods, Inc., Parrish and Heimbecker Ltd, ITC Limited, The Caremoli Group, Ingredion Inc., Unicorn Grain Specialties, Bunge Limited, SunOpta Limited, and Buhler are observed as global leaders in producing modified flours. These companies are expected to spearhead the production of modified flour in the global market through 2026. Extensively profiled in the report, majority of these players will be adopting new modification techniques to make modified flours more affordable.