Clean label flour sales closed in on more than US$ 2 Bn in 2018, according to a new market intelligence study of Future Market Insights (FMI). Estimated at over 5% Y-o-Y increase in the revenues toward the end of 2019, the global market for clean label flour is envisaged to encounter multiple profitable opportunities in the forthcoming years.
While consumer sentiments have been a prime factor governing shifts of the food and beverages industry, clean labelling remains one of the most sought-after parameters while purchasing products. Brands that have already realized the significance of maintaining end-to-end transparency from production to labeling have captured a considerably large customer base, which underscores an important trend in the industry. However, the market will remain highly influenced by the volatile prices of grains.
Wheat Flour Remains Top Selling, Baked Goods Register Prominent Consumption
Over 50% of overall consumption is sourced as one of the key ingredients for bakery products, whereas pasta and noodles are highly likely to register an impressive rate of clean label flour consumption in the years to come. Wheat flour, with nearly 85% share in the total revenues, will remain top selling product in the market, as suggested by FMI’s analysis. The report foresees a positive demand growth outlook for coconut flour over the course of coming years.
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The clean label flour range has become one of the top selling non-conventional, healthy alternatives available on the market.In addition to the soaring consumption volumes of clean label flour by health-conscious consumer chunk, the sales are likely to receive strong support from thriving modern retail formats, such as supermarkets, hypermarkets, and mass grocery retailers.
According to the report, this will be a prominent scenario across developing countries, whereas the growth of online retail is particularly anticipated to favor sales of trending products, such as clean label flour, across developed regional markets. Collectively, these sales channels, along with C-stores and specialty stores, account for almost 3/5th of global clean label flour sales, according to FMI.
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The study has highlighted ascending preference for clean label flour over conventional, among foodservice industry operators, which will remain an important factor responsible for climbing sales of clean label flour in years to come. As indicated by the report, the HoReCa sector is currently accounting for over half of the clean label flour sales, which is projected for an average 6% yearly growth through the next few years.
Emerging Economies Present High-potential Investment Pockets
A majority of sales of clean label flour are registered in developed regional markets owing to the high penetration rate of innovative health products. It is further supported by rapidly expanding customer base for products in the “free-from” category. On the other side, the report has cited developing regions as potent opportunistic markets for manufacturers of clean label flour. Based on the market analysis, the South Asia-East Asia-Oceania cluster will demonstrate impressive growth potential, followed by the markets in Latin America, and Middle East and Africa.
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FMI’s study has further examined the competitive landscape of global clean label flour industry, which reflects a highly competitive and saturated marketplace. Aligning with latest market trends, key players are most likely to remain focused on product innovation and new launches, for a constant competitive edge. The report also states that European market landscape for clean label flour is particularly characterized by the entry of a large number of companies. With the foray of over 50 brands in the past three years, Europe’s market for clean label flour will remain highly dynamic, yet largely fragmented over the coming years.
The report has profiled some of the leading players competing in global clean label flour market, including Ardent Mills, Codrico, Groupe Limagrain, Arrowhead Mills, Limagrain Céréales Ingrédients (LCI), and Ingredion, among others.
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