Global Plant-based Flour – Market Outlook
With the ever-changing demand for plant-based food, the next generation of flour is grain-free. Flours made from fruit and vegetables are in demand as it is made from dried and ground fruits and veggies with little or no added ingredients. There are a variety of gluten-free flours each with different tastes, texture and nutrient composition. The nutrient content is the key factor which is boosting the global plant-based flour market. Almond flour is a great gluten-free and also this flour is easy to incorporate in daily life. The consumers interest in plant-based flour has grown recently as a healthy approach to replace regular flour. High amino profiles of plant-based flour enable producers to use health claims in the final product. The fat content in the food product is reduced and protein, fiber and micronutrient in plant-based flour make the processed food healthier.
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Increasing Consumer Preference for Plant-based Food Products
Awareness among the consumers about the health issues of wheat-based flour is increasing the demand for plant-based flour market. Wheat based flours are highly processed and bleached thus wheat-based flour loses most of its nutritional benefits. Changing food habits with changing lifestyle is the major driver for global plant-based flour. Plant-based flour contains fibers, protein, vitamins, and minerals, which makes them an excellent substitute for wheat-based flour. The rising demand with rising healthier options over traditional flour available is contributing towards the growth of global plant-based flour market. Plant-based flour is largely used due to its nutritional content. For instance, consumers prefer sorghum flour than traditional wheat-based flour, as it is high in fiber and protein, which can help for slow sugar absorption.
The demand for plant-based flour is expected to rise on account of superior health benefits coupled with the high nutritive value of the product. The plant-based flours are used to improve the quality of baked products owing to its modified properties. The products made with plant-based flour have a higher content of vitamins, minerals, and proteins which provide added health benefits to consumers. The plant-based flour has natty flavor and it is suitable for texture-based bakery and extruded snack. Plant-based flour is rich in fiber which aids in digestive health.
Global plant-based flour market segmentation
Based on type, global plant-based flour market is segmented as
- Peanut flour
- Chickpea flour
- Lentil flour
- Sorghum flour
- Soy flour
- Chestnut flour
Based on application global plant-based flour market is segmented as
- Food Processing Industry
- Snacks & Cereals
- Convenience Food
- Foodservice Industry
Based on the distribution channel, global plant-based flour market is segmented as
- Business to Business (B2B)
- Business to Consumers (B2C)
- Specialty stores
- Online Retail
- Convenience stores
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Global plant-based flour market- key players
The market participants operating in the global plant-based flour market are identified across the value chain include Golden Peanut and Tree Nuts, Associated British Foods plc, Hain Celestial, Cargill, Incorporated, Archer Daniels Midland Company among the other plant-based flour manufacturers.
Opportunities for new participants in the global plant-based flour market
The demand for ready to eat food products, healthy nutritional options, and affordable good quality protein is likely to drive the adoption of plant-based flour. The market players are thus, focusing on their research and development activities to launch new and innovative products to attract more consumers. The market is mainly affected by increasing awareness about the benefits of plant-based flour and its nutrient-rich properties. Supermarkets and convenience stores are significantly increasing shelf space for plant-based flour as consumers are demanding more plant-based flour than traditional flour.
With accumulating scientific evidence, supporting the health advantages of plant-based flour is boosting the global plant-based flour market. Bakers are experimenting with ingredients such as- coconut flour, sweet potato flour, almond flour which will accelerate the demand for plant-based flour. Major companies are offering a new product to gain a competitive edge in the market as well as to cater to the changing food preferences of the consumers.