Modified flours are the economical and efficient modification of regular flours and starches. Modified flours play significant role in several food items and industrial products as a binder. It is mainly described as a mixture of water and flour (starch) that is characterized by modified water absorbing and solubility properties. Growing demand for binder in several food and industrial goods production site has driven the demand for modified flour. Milling industry across the globe is expecedt to witness increasing inclination towards modification in existing flour to micronutrients, additives among others varied range of food ingredients.
According to a report of Future Market Insights, the modified flour market is expected to register a CAGR of 3.6% during the forecast period 2017 – 2026. By the end of 2026, nearly 1,130,000 tons of modified flour is expecedt to be sold across the globe.
According to you, what is trending in food & beverage industries that is prompting uptake of modified flour products during forecast period?
Growing demand for modified flour as a binder in production of a variety of food items is the most driving factor of modified flour market. With the arrival of innovative technologies, companies are focusing to launch a varied range modified flour based on different regular flour such as wheat flour, maize flour soya flour, etc. On account of increasing consumption of modified flour, it is expected to overtake demand for conventional flour in the near future.
What is the production and consumption scenario for modified flour market among regions?
Based on the regional analysis, The Asia Pacific excluding Japan (APEJ) is highly likely to remain dominant in the modified flour market. The consumption of modified flour is expected to rise more than 373,000 tons in this region by the end of 2026. The APEJ is expected to register comparatively high production and consumption of modified flours owing to growing demand for modified flour of increasing population. Other proliferating factors such as ample availability of raw materials, favorable industrial laws and regulations and growing agriculture sector are highly likely to boost modified four market throughout the forecast period. Market players in emerging economies such as India and China are expected to account for maximum value share in modified flour market during the forecast period. Followed by APEJ, Europe is likely to account for nearly 25% and projected to represent most lucrative consumer marketplace for modified flour.
As per FMI’s demarcation on modified flour, where do you think companies gain potential opportunities in future in terms end use industry?
Modified flour manufacturers are highly likely to witness remarkable prospects in production of bakery and confectionery food items. Rising global demand for bakery and confectionery products has contributed towards revenue growth in modified flour market during the forecast period.
As per FMI’s demarcation on modified flour, where do you think companies gain potential opportunities in future in terms product type?
Modified flours are derived mainly from wheat, maize, rice and soya among others. Among these, production of wheat flour is expected to witness robust growth during the forecast period. Wheat flour is anticipated to remain as top-selling product among others, reflecting a CAGR of 4.4% in term of volume during the forecast period.
Which distribution channel offers large customer base in supplying modified flour?
Modified flour producers approach consumers through various medium of marketing in several forms of distribution channels. This includes direct sales, modern trade stores, convenience store and online stores among others. Out of these, direct sales channel is highly likely to offer potential growth for modified flour sales. Growing end user preference in purchasing of a varied range of food ingredients like modified flour through direct sales medium is expected to increase distribution of modified flour at a large scale.
Who are the leading manufacturers to contribute towards market growth of modified flour?
Several companies are strongly focused on diversification of their product portfolio in order to expand market reach for versatile application worldwide. Another area of focus is to establish strong supply relations in order to obtain valuable market share together with large customer base.
Several companies operating in North America such as The Scoular Company, Archer Daniels Midland Company, Cargill Incorporated, The Hain Celestial Group Inc., General Mills Inc., ConAgra Foods Inc., Parrish and Heimbecker Ltd., Ingredion Inc., Bunge Limited, The Caremoli Group and SunOpta are expected to focus in business expansion at developing regions such as APEJ and Middle East & Africa (MEA). Others European companies like Associated British Foods plc, Unicorn Grain Specialties and others such as ITC Limited, Buhler Limited located at APEJ are expected to account for significant share in modified flours market.
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