Plant-based Flour Market Scope
Plant-based Flour is made purely of ground vegetables or legumes and can be used as the main ingredient in breads, pizza bases, pancakes, and cakes. There are different type of plant-based flour such as Cereal-based flour, Oat flour, Soy flour, Pea flour, Quinoa flour, Rise flour. Owing to Increase in demand of gluten free flour, latest trend of veganism and increasing popularity of plant-based diet, Plant-based Flour market is expected to grow at a significant rate during the forecast period.
|Unit||Value (USD Million)|
|Key Companies Profiled||Ingredion Inc. (United States), Cargill Inc. (United States), The Archer Daniels Midland Company (United States), Rolling Hills Nut Company (United States), Ardent mills (United States), Healy Group (United States), Vestkorn Milling AS (Denmark), Royce Food Corporation (Philippines), Northen Quinoa Production Corporation (Canada) and Richardson milling ltd (United Kingdom)|
Plant-based Flour Market is a fragmented market due to the presence of various players. The players are focusing on increasing their manufacturing capacity and are offering competitive prices to gain high market share and establish their position in the market. Further, companies are focusing on developing innovative products and solutions to improve quality, enhances and promotes performance. The companies are coming up with partnerships or agreements along with planning strategic activities such as partnerships, product launch, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge.
Ingredion Inc. (United States), Cargill Inc. (United States), The Archer Daniels Midland Company (United States), Rolling Hills Nut Company (United States), Ardent mills (United States), Healy Group (United States), Vestkorn Milling AS (Denmark), Royce Food Corporation (Philippines), Northen Quinoa Production Corporation (Canada) and Richardson milling ltd (United Kingdom) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are Hen celestial (United States) and Conagra Brands (United States).
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
The study have segmented the market of Global Plant-based Flour market by Type , by Application (Bakery and Confectionery, Beverages, Snacks and Convenience Foods, Sauces and Dressings and Others) and Region with country level break-up.
On the basis of geography, the market of Plant-based Flour has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). region held largest market share in the year 2022.
Market Leaders and their expansionary development strategiesIn November 2020, Ingredion Inc. acquired 100% ownership of verdient food. This acquisition allows Ingredion to accelerate net revenue growth, expand our manufacturing capability, and collaborate with customers to meet increasing consumer demand for plant-based foods
In September 2019, Healy group lunched a new line of primapro micronized pea proteins, containing milled pea flour.
Influencing Trend:Rising Popularity of Vegan Products and Increasing Consumer Preference towards Organic and non-GMO to Seek Healthier and more Sustainable options
Market Growth Drivers:Increasing Popularity of Plant Based Products, Growing Demand for Nutritional and Gluten-Free Bakery Products. and Rising Awareness Regarding Gluten Sensitivity
Challenges:Maintaining Consistency Plant-Based Flour and Bland Taste of Plant Based Flours
Restraints:Maintaining The Consistency Of Plant Based Flour In The Processing Of Food
Opportunities:Rising Demand of Plant Based Meat Products
Key Target AudiencePlant-based Flour manufacturers and distributors, Venture Capitalists and Private Equity Firms, New Entrants/Investors, Strategic Business Planners, Government Regulatory, Research Organizations and End-Use Industries