North America is expected to hold around 30.5% share of the global flour substitutes market during the forecast period. The demand for flour substitutes across Europe is expected to grow at 3.6% CAGR between 2022 and 2032
NEWARK, Del, Oct. 27, 2022 (GLOBE NEWSWIRE) -- As per FMI, the global flour substitutes market size is expected to grow from 26,322.3 Mn in 2022 to US$ 42,066.5 Mn by 2032, with overall sales accelerating at 4.8% CAGR throughout the forecast period.
Rising demand for gluten-free products along with increasing prevalence of allergies and celiac disease is a key factor driving growth in the global flour substitutes market.
Flour substitutes are linked to a number of health benefits. Studies have shown that flour substitutes can help lower cholesterol levels and improve blood sugar control. They can also help reduce the risk of heart disease and stroke which has led to a growing consumer preference for these and in turn is accelerating the flour substitutes market.
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Another factor driving the increased sales of flour substitutes is the health benefits that they offer. Many of these substitutes are made with whole grains and other healthy ingredients, which means that they can be a great way to get your daily dose of fiber and other nutrients. And since they’re often lower in calories than traditional flour, they’re also a good option for people who are watching their weight.
Similarly, widening applications of flour substitutes across food processing and bakery industries will bode well for the market during the forecast period.
Flour substitute market manufacturers are developing novel ways to incorporate these products into various processed foods. They are investing in research and development to introduce novel flour substitutes that are rich in healthy nutrients.
Based on product, the chickpea flour segment is expected to grow at the highest CAGR of 5.4% during the forecast period.
North America holds around 30.5% share of the global flour substitutes market and it is likely to retain its dominance during the projected period.
The flour substitutes market in India is likely to grow at around 4.5% CAGR between 2022 and 2032.
The U.K. flour substitutes market is expected to grow at a steady CAGR of 3.6% throughout the forecast period.
The U.S. flour substitutes market is expected to reach a total valuation of US$ 346 Bn in 2022.
“With rising health awareness and surge in cases of lactose intolerance, consumers are shifting towards flour substitutes as they are low in carbs and calories yet richer in protein and fiber. This will boost the overall flour substitutes market over the next ten years,” says a lead analyst at Future Market Insights.
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Top 5 manufacturers of flour substitutes are Bob's Red Mill, King Arthur Flour, Hodgson Mill, Pillsbury, Arrowhead Mills, holding 20% to 30% of the flour -substitute’s market share.
Companies are using flour substitutes in their products. This is because flour substitutes are cheaper and easier to obtain than wheat flour. Additionally, flour substitutes can be used to create a variety of textures and flavors. With increasing research and development and technological advancements, companies are finding new techniques to effectively use flour substitutes to their maximum potential.
Flour Substitutes Market by Category
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2.2. Market Definition / Scope / Limitations
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
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About Food & Beverage Division at Future Market Insights The Food & Beverage team at Future Market Insights provides all the necessary insights and consulting analysis to fulfill the unique business intelligence needs of clients worldwide. With a catalog of more than 500 reports pertaining to the latest statistics and analysis from the food & beverage industry, the team is happy to help with every business intelligence research and consulting requirement.
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