Overview and Scope
Flour milling is a process in which grains are cleaned, crushed and grinded into pieces for food preparation. Rice milling is a process in which paddy is cleaned, milled, polished, and processed into the rice. Malt is a product that is prepared from germinated cereal grains that have been dried in the process known as malting.
Sizing and Forecast
The flour, rice and malt market size has grown strongly in recent years. It will grow from $141.77 billion in 2023 to $151.24 billion in 2024 at a compound annual growth rate (CAGR) of 6.7%. The growth in the historic period can be attributed to staple food demand, agricultural production, traditional culinary practices, global export, food processing.
The flour, rice and malt market size is expected to see strong growth in the next few years. It will grow to $191.06 billion in 2028 at a compound annual growth rate (CAGR) of 6.0%. The growth in the forecast period can be attributed to health and wellness trends, sustainability and eco-friendly practices, diverse food applications, global market expansion, digitalization of supply chain. Major trends in the forecast period include gluten-free and specialty flours, rice alternatives, malt in craft brewing, malt-based snacks and foods, traditional grain revival.
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Segmentation & Regional Insights
The flour, rice and malt market covered in this report is segmented –
1) By Type: Flour, Rice, Malt
2) By Distribution Channel: Supermarkets/Hypermarkets, Convenience Stores, E-Commerce, Other Distribution Channels
3) By Application: Household, Commercial Use
Subsegments Covered: Wheat, Maize (Corn), Rice-Flour, Other Flour
Asia-Pacific was the largest region in the flour, rice, and malt market in 2023. North America was the second-largest region in the flour, rice, and malt market. The regions covered in the flour, rice, and malt market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
Many countries across the globe are experiencing falling prices of crops due to overcapacity. This is expected to result in low raw material costs for flour, rice, and malt manufacturing companies. For instance, in November 2022, according to the report Frontline, an India-based national magazine on agriculture, the Cabinet Committee on Economic Affairs announced a bailout package of $8.4 Billion (Rs 7000 crore for farmers involved in the sugar production sectors to fix the minimum selling price of refined sugar at Rs 29 per kilogram (prices dropped to Rs 23-24 recently due to overproduction) and to create a buffer stock of 3 million tonnes of sugar for one year. Thus, the overproduction of certain crops is likely to result in higher profit margins for food and beverage companies. Higher profit margins will enable flour, rice, and malt manufacturing companies to increase their productivity and drive the market going forward.
Key Industry Players
Major companies operating in the flour, rice and malt market include CJ Cheiljedang Corp, Wilmar International Ltd, Louis Dreyfus, Soufflet SA, GrainCorp Malt, Gruma S.A.B. de C.V, Nisshin Seifun Group Inc., Ingredion Incorporated, Olam International., Ardent Mills LLC, Archer-Daniels-Midland Co., Riceland Foods Inc., General Mills Inc., ConAgra Brands Inc., The Mennel Milling Company, Bay State Milling Company, Bartlett Milling Company, Grain Craft, Miller Milling Company, Siemer Milling Company, Hopkinsville Milling Company, Shawnee Milling Company, Wilkins Rogers Mills, Cereal Food Processors Inc., Horizon Milling LLC, The Hain Celestial Group Inc., The Malted Barley Appreciation Society, Malt Products Corporation, Briess Malt & Ingredients Co., Great Western Malting Co., Malteurop North America Inc., Rahr Malting Co., Muntons Malted Ingredients Inc., Cargill Inc., Bunge Limited, The Scoular Company, The Andersons Inc., The Birkett Mills, The Malt Company Pvt. Ltd.
The flour, rice and malt market report table of contents includes:
- Executive Summary
- Market Characteristics
- Market Trends And Strategies
- Impact Of COVID-19
- Market Size And Growth
- Segmentation
- Regional And Country Analysis
……..
- Competitive Landscape And Company Profiles
- Key Mergers And Acquisitions
- Future Outlook and Potential Analysis
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