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Global Flour Substitutes Market Size Is Expected To Reach $42 Billion By 2032

PR Newswire - Tue Nov 29, 2022

FinancialNewsMedia.com News Commentary

PALM BEACH, Fla., Nov. 29, 2022 /PRNewswire/ -- Flour substitutes are types of flour that can be used in place of wheat flour to make baked and fried goods. These flour substitutes have become ideal choices for people who are looking for gluten-free diets or who are suffering from celiac disease. There are several different types of flour substitutes available, such as almond flour, coconut flour and quinoa flour. Each type of flour substitute has its unique flavor and texture. They are being increasingly utilized for applications like baked goods, fried food, bread, pastry, noodles, etc. The rising usage of flour substitutes in a wide range of applications across industries like food processing and bakery will continue to boost growth of the market for the next 10 years according to a report from Future Market Insights.  The report projected that the global flour substitutes market size is expected to reach a valuation of US$ 26,322.3 Mn in 2022. Furthermore, with rising usage in baked goods, fried food, bread, noodles, and several other applications, the overall demand for flour substitutes is projected to rise at 4.8% CAGR during the forecast period (2022-2032), totaling a market valuation of US$ 42,066.5 Mn by 2032.  The report said: "Similarly, increasing prevalence of celiac disease is playing a crucial role in stimulating growth in the flour substitutes market. Over the years, there has been a rapid surge in cases of celiac disease, especially among women."   Active Companies in the markets today include AgriFORCE Growing Systems Ltd. (NASDAQ: AGRI), Bunge (NYSE: BG), The Scotts Miracle-Gro Company (NYSE: SMG), Corteva, Inc. (NYSE: CTVA), Nutrien Ltd. (NYSE: NTR) (TSX: NTR).

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