Report : Asia Pacific Prepared Flour Mixes Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Category (Gluten-Free and Conventional), and Application (Breads, Cakes and Others)
The Breads Segment to Dominate Asia Pacific Prepared Flour Mixes Market during 2021-2028
According to a new market research study on “Asia Pacific Prepared Flour Mixes Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast – by Category, Application and Country,” is expected to reach US$ 10,364.99 million by 2028 from US$ 7,302.69 million in 2021. The market is estimated to grow at a CAGR of 5.1% from 2021 to 2028. The report provides trends prevailing in the Asia Pacific prepared flour mixes market along with the drivers and restraints pertaining to the market growth. Wide application scope of prepared flour, and expansion of the bakery industry are major factors driving the growth of the Asia Pacific prepared flour mixes market. However, fluctuating raw material prices may hinder the growth of Asia Pacific prepared flour mixes market.
The COVID-19 pandemic caused a significant economic loss in Asia Pacific. India recorded the highest number of COVID-19 cases across the region. Also, the emergence of new COVID-19 waves in India, Thailand, and other Asian economies have prolonged the effect of the pandemic on the food & beverages industries. The pandemic is anticipated to cause huge disruptions in the growth of various industries of Asia Pacific. However, the uncertainty regarding the future outbreak, especially in countries such as India and a few other Asian countries, has altered the status of several industrial sectors. The governments of various Asia Pacific economies are taking possible steps to restrict the spread of the virus by announcing country-wide lockdown, which has a direct impact on the growth of industrial sectors. Therefore, the pandemic is going to have an impact on the prepared flour mixes market.
The market for Asia Pacific prepared flour mixes is segmented into category, application and country. Based on category, the market is segmented into gluten-free and conventional. In 2020, the conventional segment held the largest share in Asia Pacific prepared flour mixes market. Based on application, the Asia Pacific prepared flour mixes market is divided into breads, cakes and others. The cakes segment is expected to be the fastest growing segment over the forecast period. Based on country, the Asia Pacific prepared flour mixes market is segmented into China, Japan, India, South Korea, Australia and Rest of Asia Pacific. In 2020, China held the largest share in Asia Pacific prepared flour mixes market. Furthermore, in this present scenario of COVID 19 pandemic, the Asia Pacific prepared flour mixes market has been facing difficulties and several countries have suffered heavily. The manufacturing sectors in the Asia Pacific countries have been experiencing low production and a weak supply chain. Thereby, impacting the market for prepared flour mixes.
AB Mauri; Puratos; Lesaffre; Archer Daniels Midland Company; General Mills, Inc.; Kerry Group; Swiss Bake Ingredients Pvt. Ltd.; Nitto-Fuji International Vietnam Co. Ltd.; and Allied Pinnacle are some of the leading companies in the Asia Pacific prepared flour mixes market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market.
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