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 Europe is expected to reach US$ 64,744.65 million by 2027 from US$ 54,204.94 million in 2019 and is expected to grow at a CAGR of 2.6% from 2020 to 2027.Growing demand for convenience food products is bolstering the growth of the wheat flour market in Europe. The demand for wheat flour is increasing due to growing consumer preference towards processed or convenience foods. Wheat flour is added as a vital ingredient in convenience food items such as bakery and confectionery products, snacks, and ready-to-eat foods to improve the texture and profile of the food product. Due to growing food &beverages industry and improving economic conditions, consumers in developed and developing countries in Europe are inclining more toward convenience foods. Over the past few years, there is a noticeable increase in the consumption of ready-to-eat food and beverages owing to which the demand for convenience foods has increased significantly. Also, with the diversification of distribution channels, convenience foods have found a shelf in the retail outlets and supermarkets. Further, the change in working demographics and busy lifestyle are among the other factors promoting the demand for convenience food items. With the increase in the demand for convenience food items, the need for wheat flour is set to propel. Currently, the rising demand for food is widely met by convenience foods across Europe. The urbanization of society has resulted in the prominence of convenience foods in the modern diet resulting in the market growth. The availability of organic wheat flour broadens their applications in bakery and confectionery, and other industries. Furthermore, the increase in population, coupled with rising economic standard; hike in disposable incomes; and diversification in food habits are surging the demand for convenience foods in Europe. To meet the increasing demands, companies are coming up with the improved quality of wheat flour and efficient distribution channels to serve the wider customer base.
However, COVID-19 has affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. In Europe, as per the recent data, Russia has recorded the highest number of COVID cases. Other than this, Spain, UK, Italy and Germany have also been hit hard and are expected to suffer an economic hit due to a lack of revenue from various industries. Other member states have implemented drastic measures and travel restrictions, including partially closing their borders. This is anticipated to impact market growth in Europe.
Key Market Segments
The Europe wheat flour market is segmented into product type, end user, application, and distribution channel. Based on product type, the Europe 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 Europe wheat flour market is categorized into residential and commercial. In 2019, the Europe wheat flour market was dominated by the commercial segment. The application segment of Europe wheat flour market is sub-segmented into bread, bakery products, noodles and pasta, and others. The Europe wheat flour market was dominated by the bread segment. The Europe 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 marketin Europe are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report areArcher-Daniels-Midland Company, Acarsan Holding, General Mills Inc., George Weston Foods Limited, and KORFEZ Flour Groupamong others.
Reasons to buy report
Europe Wheat Flour Market Segmentation
Europe Wheat Flour Market, by Product Type
Europe Wheat Flour Market, by End User
Europe Wheat Flour Market, by Application
Europe Wheat Flour Market, by Distribution Channel
Europe Wheat Flour Market, by Country
Company Profiles
| Report Attribute | Details |
|---|---|
| Market size in 2019 | US$ 54,204.94 Million |
| Market Size by 2027 | US$ 64,744.65 Million |
| CAGR (2020 - 2027) | 2.6% |
| Historical Data | 2017-2018 |
| Forecast period | 2020-2027 |
| Segments Covered |
By Product Type
|
| Regions and Countries Covered |
Europe
|
| Market leaders and key company profiles |
|
The Europe Wheat Flour Market is valued at US$ 54,204.94 Million in 2019, it is projected to reach US$ 64,744.65 Million by 2027.
As per our report Europe Wheat Flour Market, the market size is valued at US$ 54,204.94 Million in 2019, projecting it to reach US$ 64,744.65 Million by 2027. This translates to a CAGR of approximately 2.6% during the forecast period.
The Europe Wheat Flour Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Europe Wheat Flour Market report:
The Europe Wheat Flour Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Europe Wheat Flour Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Europe Wheat Flour Market value chain can benefit from the information contained in a comprehensive market report.
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