Wheat Flour Market Size, Share & Industry Analysis, By Type (Whole and Refined), Application (Bread, Bakery Products, Noodles & Pasta, and Others), and Regional Forecast, 2024-2032

The global wheat flour market size was USD 173.02 billion in 2023 and is projected to grow from USD 179.73 billion in 2024 to USD 250.15 billion by 2032, exhibiting a CAGR of 4.22% during the forecast period (2024-2032). Moreover, the wheat flour market size in the U.S. is projected to grow significantly, reaching an estimated value of USD 21.94 billion by 2032, driven by the growing demand for innovative, healthy wheat-based products among consumers in the region.

The global impact of COVID-19 has been unprecedented and staggering, with wheat flour witnessing a negative impact on demand across all regions amid the pandemic. Based on our analysis, the global market exhibited a lower growth of 1.55% in 2020 as compared to the average year-on-year growth during 2017-2019. The rise in CAGR is attributable to this market’s demand and growth, returning to pre-pandemic levels once the pandemic is over.

The industry is registering prominent growth globally. The increasing demand for baked goods such as bread, cakes, pastries, biscuits, and cookies among consumers has significantly boosted the demand for wheat-based flour across the food industry. The rising utilization of wheat-based flour in various applications, such as noodles and pasta, is expected to uptick the wheat flour market growth in the coming years.

The COVID-19 pandemic did not have a direct impact on the global wheat industry as wheat is one of the essential foods, including its by-products such as bread and flour, which are considered staple foods in many countries. However, owing to trade restrictions and lockdown, the transportation of raw materials was halted during the initial phase, resulting in a shortage of supply. In addition, as the concern about lockdown started to rise, panic buying was recorded during the initial phase, resulting in a significant spike in demand. Thus, the sudden spike in demand and supply chain constraints resulted in an increasing gap in the supply and demand of wheat and its by-products, which further impacted global prices. As wheat by-products are staple food in the majority of countries, the increasing prices did not have a major impact on consumption.

Wheat Flour Market Trends

Growing Trend of Clean-Label and Consuming Whole Grain Foods to Augment Growth

In the past few years, consumer purchasing behavior has shifted significantly to select healthful product varieties that improve overall health and wellness. The trend of clean-label and whole-grain products among consumers has posed various opportunities for food manufacturers to develop ingenious grain-based products. Wheat-based flour is widely used across the globe for the manufacturing of various processed food products. The growing demand for clean-label such as non-GMO and organic bakery products among consumers has considerably fuelled the demand for clean-label flour across the food industry. Furthermore, the increasing popularity of whole wheat food commodities such as bread, cookies, cakes, noodles, and pasta is expected to drive the wheat-based flour market growth in the coming years. Semolina flour is becoming widely popular among consumers to manufacture high-quality pasta. The governments of various countries are taking initiatives to fortify flour with essential vitamins and minerals to tackle several health issues. The government intervention is expected to positively affect the growth of the wheat-based flour market during the forecasted period.

Wheat Flour Market Growth Factors

Increasing Demand for Baked Goods among Consumers to Foster Market Growth

The global market is essentially boosted by the rising demand for various baked goods among consumers across the globe. The rising discretionary income levels among consumers in developing region such as  Asia Pacific and the Middle East have significantly increased the demand for innovative indulgent bakery snacks. The rising trend of eating out has also increased the demand for these baked goods across cafes, restaurants, and hotels which in turn drive the growth of the global wheat-based flour market.

Furthermore, the leading manufacturers of wheat-based flour and bakery products are actively focusing on investing in research & development, new product innovation, and technological advancements.

The major players are launching innovative bakery products with functional ingredients such as fortified flour, vitamins, and minerals to capitalize on the growing demand for healthy bakery snacks among consumers. Moreover, the rising utilization of natural flavors to improve the quality and the taste is expected to increase the demand for bakery products which in turn drives the market growth.

Rising Popularity of Whole Wheat Flour to Fuel Market Growth

The increasing demand for fiber-rich foods among consumers has significantly increased the demand for whole wheat flour in the past few years. The increasing awareness regarding the positive health effects of fiber-rich foods among consumers has considerably increased the utilization of whole flour across various segments of the food industry. Several weight management programs advise consuming whole grain products to reduce the chances of lifestyle-related health conditions such as obesity, diabetes, and cardiovascular diseases. The growing trend of fiber-rich baked goods and snacks is projected to drive the growth of the market in the coming years.

The growing perception among consumers that organic products are safer and healthier than conventional ones is further expected to increase the demand for organic whole flour among leading food manufacturers.

RESTRAINING FACTORS

Increasing Popularity of Gluten-free Foods to Impede Market Growth

The growing popularity of gluten-free food products is likely to hinder market growth. The dietary patterns of modern consumers are constantly evolving and have considerably augmented the gluten-free products’ demand. Gluten is a vital protein that is found in wheat and helps in giving the dough a great texture and shape. Excessive consumption of gluten is not viable as it can develop health-associated issues. The leading snacks and bakery product manufacturers emphasize investing in the development of gluten-free products that don’t comprise any kind of wheat. Wheat-based flour substitutes are gaining traction due to the growing demand for gluten-free flour. The growing cases of celiac disease caused by the consumption of gluten have negatively impacted the market growth of flour-based products.

Wheat Flour Market Segmentation Analysis

By Type Analysis

Refined Wheat Flour Segment Holds the Largest Share in the Market due to its Highest Consumption

Based on type, the market is divided into refined and whole. The value for refined or all purpose flour is the largest in the market globally, owing to its global popularity and reach. Refined flour finds its application in several processed foods such as bakery products, noodles, pasta, and its demand significantly raised among several food manufacturers. Furthermore, the increasing consumption of refined flour is ascribable to its increasing utilization in various flour recipes such as pancakes, premixes and ready-to-cook products.

Whole wheat-based flour has gained significant demand in the functional food space attributed to consumer’s perception that products made from whole flour contribute to overall health & wellness. The growing demand for whole flour among consumers is anticipated to boost the global market growth.

By Application Analysis

Bread Holds the Major Market Share and Other Bakery Products Segment is Fastest Growing

By application, the market is divided into bread, bakery products, noodles & pasta, and others. The flour market is essentially fuelled by the strong demand for bread across almost all major regions in the world. Various forms of bread are the staple food of several countries, which continues to positively impact the global wheat-based flour market growth. The high content of gluten in wheat-based flour makes it a perfect ingredient for bread production. The emerging trend of innovative bread types such as organic, clean-label, and multigrain bread is projected to further drive the growth of the market in the coming years.

Consumers nowadays seek indulgent snacking products such as cookies, biscuits, and pastries. This has considerably increased the demand for wheat-based flour across the food industry. The growth rate of the bakery products (excluding bread) segment is expected to be the highest due to the rising demand for retail baked goods across the globe.

REGIONAL INSIGHTS

Increasing Population of Millennials to Stimulate Growth

Asia Pacific is expected to dominate the market share as it is the major producer of wheat and wheat milled by-products, including wheat-grinded powder. Wheat bread and noodles are the staple food of almost all countries in the region. The increasing discretionary incomes among consumers in the region have significantly improved their lifestyles. Consumers nowadays seek indulgent products such as cakes, cookies, and premixes. The increasing millennial population across the region is expected to increase the demand for innovative baked goods, which will in turn fuel the wheat-based flour market growth in the coming years.

North America is the second-largest market shareholder for the market during the forecast period. The growing demand for various types of bread among consumers in the region, such as cakes, pastries, biscuits, and cookies, is gaining popularity across retail channels. Further, the leading flour manufacturers such as Ardent Mills, ADM Company, Star of the West Milling Co., and others present in the region support the market growth in North America. The emerging trend of clean-label food products has increased the demand for organic wheat-based flour in the region. The key players in the market are capitalizing on the growing demand for innovative, healthy wheat-based products among consumers in the region.

Europe is mainly fuelled by the growing demand for bread and assorted bakery products among consumers. The government’s introduction of policies includes subsidies to amplify agricultural production, which have filliped farmers to farm wheat crops intensively. In return, this has augmented the production of wheat and wheat-based flour in the region. Moreover, as whole flour food products grow more popular across the region, many manufacturers are focusing on developing whole flour-based products, which is expected to drive market growth in the coming years.

South America’s wheat-based flour market is witnessing prominent growth due to the increased discretionary income levels among consumers. Baked goods are becoming popular among the millennial population. The increasing demand for innovative bread varieties is expected to drive regional growth in the coming years.

The wheat-based flour market in the Middle East & Africa is mainly fueled by the escalating demand for cakes, cookies, and biscuits among consumers. Urbanization and exposure to western food culture drive the dynamic food consumption patterns. The rising trend of going out, trying authentic and exotic food products is projected to drive the wheat-based flour market growth during the forecasted period.

List of Key Companies in Wheat Flour Market

Limagrain Ingredients is Investing in Product Development to Strengthen its Portfolio

Limagrain Ingredients is a leading wheat processing company that actively invests in the development of new products in the wheat-based flour segment to fortify its product portfolio and strengthen the business across the global market. For instance, in June 2021, the company launched fiber-rich wheat-based flour called LifyWheat that helps to counter Europeans’ low dietary fiber intake. The product is reportedly ten times richer in fiber than standard fibers. The major players such as Ardent Mills LLC, Wudeli Flour Mill Group, and ADM emphasize new product developments, mergers, and acquisitions, to blend the market. The advent of new and small players in the market substantially contributes to the market’s competition, which has a positive impact on the market growth.

LIST OF KEY COMPANIES PROFILED

• Ardent Mills (Colorado, U.S.)


• Wudeli Flour Mill Group (China)


• ADM Company (Illinois, U.S.)


• General Mills (Minnesota, U.S.)


• Allied Pinnacle Pty Ltd. (NSW, Australia)


• Manildra Milling Pvt. Ltd. (NSW, Australia)


• Acarsan Flour (Turkey)


• Korfez Flour Mill (Delaware, U.S.)


• George Weston Foods Ltd. (Toronto, U.S.)


• Hodgson Mills, Inc. (Toronto, U.S.)

KEY INDUSTRY DEVELOPMENTS

• January 2024 – The Italian Milling Industry Association, which is co-funded by the European Commission, announced the launch of its campaign called as Pure Flour From Europe in India with an aim to promote the premium soft wheat flour in the country. 


• December 2022 – AgriForce Growing Systems Ltd., an agritech company based in Canada, announced that its new flour product called Un(Think) Awakened flour will be launched commercially in 2023. The product is targeted toward bakeries and food service operators through its direct-to-consumer channel. The all-new product is said to be easier to digest and contains two times the protein of conventional flour.


• November 2023 – The Consumer Affairs, Food, and Public Distribution announced the launch of its new wheat flour brand, Bharat Atta. This government initiative is to provide affordable wheat flour to Indian consumers. 


• June 2021- Parle, a leading processed food company in India, announced the launch of branded Parle G wheat flour in the country.


• September 2019 – GoodMills Innovations GmbH launched an ultra finely ground novel wheat ingredient named High-MAC wheat flour. This product can be metabolized easily by the bacteria present in the intestine.

REPORT COVERAGE

The market research report provides a detailed analysis of the market and focuses on key aspects such as leading companies, types, and leading applications of the product. The report offers insights into the key industry trends and key industry highlights. In addition to the aforementioned factors, the report encompasses several factors that have contributed to the growth of the market over recent years.

Report Scope & Segmentation