Market Introduction
Wheat flour is a powder prepared by the grinding of wheat used for human consumption. Wheat variations are called "soft" or "weak" if the gluten content is low, and are known as "hard" or "strong" containing high gluten content. With the development of food processing technologies and an increase in the demand for vegan products, the wheat flour market has experienced tremendous growth during the past years. Gluten is a naturally occurring element in the wheat. It's the protein that is responsible for the shape of the baked goods. Glutens develop to be more elastic when the dough is kneaded.
Market Overview and Dynamics
The wheat flour market in SAM is expected to reach US$ 16,939.65 million by 2027 from US$ 14,410.46 million in 2019 and is expected to grow at a CAGR of 2.4% from 2020 to 2027. The market in the SAM region consists of several developed and developing economies, such as Brazil, Argentina, and the rest of South America. The region is contributing to the growth of the wheat flour market in relation to the diversification of consumer base due to surging demand for convenience food. Growing expenditure on the convenience food products along with rising disposable income is some of the key factors driving the wheat flour market in South America. The demand for bakery products made from flour in South America is driven by the nutritional profile, convenience & accessibility associated with them. An increase in urbanization and working population in South America is also responsible for propelling the demand for fast food and bakery products manufactured using wheat flour, which leads to the growth of wheat flour market in South America. Growing industrialization in the food production business and changing food habits of consumers that creates demand for food with specific flavor & texture increases the sale of wheat flour pasta in South America.
However, COVID-19 has affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. In SAM region, Brazil has the highest number of COVID-19 cases, followed by Peru, Ecuador, Chile, and Argentina, among others. The government of South America has taken an array of actions to protect their citizens and contain COVID-19’s spread. It is anticipated that South America will face lower export revenues, both from the drop in commodity prices and reduction in export volumes, especially to China, Europe, and the United States, which are important trade partners. Containment measures in several countries of South America will reduce economic activity in the manufacturing and service sectors for at least the next quarter, with a rebound once the epidemic is contained.
Key Market Segments
The SAM wheat flour market is segmented into product type, end user, application, and distribution channel. Based on product type, the SAM wheat flour market is categorized into all-purpose flour, semolina and durum flour, whole-wheat flour, bread flour, and others. The bread flour segment dominated the market of the total market share during the forecast period whereas the whole-wheat flour segment is expected to register the fastest growth rate during the forecast period. Based on end user, the SAM wheat flour market is categorized into residential and commercial. In 2019, the SAM wheat flour market was dominated by the commercial segment. The application segment of SAM wheat flour market is sub-segmented into bread, bakery products, noodles and pasta, and others. The SAM wheat flour market was dominated by the bread segment. The SAM wheat flour market based on distribution channels has been segmented into hypermarkets and supermarkets, convenience stores, online, and others. The supermarket and hypermarket segment held a substantial market share during the forecast period.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the wheat flour market in SAM are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Archer-Daniels-Midland Company, General Mills Inc., George Weston Foods Limited, and KORFEZ Flour Group among others.
Reasons to buy report
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- Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form SAM Wheat flour Market
- Obtain market revenue forecast for market by various segments from 2020-2027 in SAM region.
SAM Wheat Flour Market Segmentation
SAM Wheat Flour Market, by Product Type
- All-Purpose Flour
- Bread Flour
- Semolina and Durum Flour
- Whole Wheat Flour
- Others
SAM Wheat Flour Market, by End User
- Residential
- Commercial
SAM Wheat Flour Market, by Application
- Bread
- Bakery Products
- Noodles and Pasta
- Others
SAM Wheat Flour Market, by Distribution Channel
SAM Wheat Flour Market, by Country
- Brazil
- Argentina
- Rest of SAM
Company Profiles
- Archer-Daniels-Midland Company
- General Mills Inc.
- George Weston Foods Limited
- KORFEZ Flour Group