The Business Research Company’s Specialty Flours Global Market Report 2023 is the most detailed report available on the market, including broad forecast periods and multiple geographies. The report covers the historic period – 2010-2021, and the forecast period – 2023-2032. The Specialty Flours Global Market Report 2023 evaluates specialty flours market size, growth rate, drivers, trends, and major companies.
The report provides a global perspective by covering 60 geographies and focusing on major economies in each region – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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The global specialty flours market size is expected to grow from $9.93 billion in 2022 to $10.92 billion in 2023 at a compound annual growth rate (CAGR) of 10.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global specialty flours is expected to grow to $16.05 billion in 2027 at a CAGR of 10.1%.
Growing demand for premium foods is expected to propel the growth of the specialty flours market. Premium foods are food products that are of high quality and priced high. Premium foods such as specialty flour are in high demand because they provide benefits such as aroma, texture, and even shape, are complete and balanced, contain all the nutrients a pet needs in the right proportions, and are highly digestible. For instance, in May 2021, according to IRI, a US-based company engaged in software, the shift to premium ingredients in 2020 was most visible in the spices and seasoning segment, which saw an 11.4% increase in premiumization in 2020 compared to the previous year. IRI discovered that 11.8% of start-up households, who tend to be younger and have lower incomes, spent more money on premium or specialty food items to prepare restaurant-style meals at home, compared to 5.2% of total respondents. Therefore, the growing demand for premium foods is expected to propel the growth of the specialty flours market over the coming years.
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The specialty flours market segments in the report are:
1) By Nature: Organic, Conventional
2) By Distribution channel: Supermarkets/Hypermarkets, Convenience Stores, Specialty Stores, Online Retail, Other Distribution Channel
3) By Application: Bakery Products, Noodles and Pasta, Animal Feed and Pet Food, Meat Products, Snacks and Savory Products, Tortillas, Soups and Sauces, Others
The table of contents in TBRC’s specialty flours market report includes:
1. Executive Summary
2. Specialty Flours Market Characteristics
3. Specialty Flours Market Trends And Strategies
4. Specialty Flours Market – Macro Economic Scenario
5. Specialty Flours Market Size And Growth
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26. Africa Specialty Flours Market
27. Specialty Flours Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Specialty Flours Market
29. Specialty Flours Market Future Outlook and Potential Analysis
30. Appendix
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