The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The flour, rice, and malt market have experienced robust growth, reflecting its integral role in global food consumption. In 2023, the market size stood at $141.77 billion, and it is set to witness further expansion, reaching $151.24 billion in 2024 with an impressive Compound Annual Growth Rate (CAGR) of 6.7%. This upward trajectory is attributed to staple food demand, agricultural production, traditional culinary practices, global export, and the influence of food processing.

Promising Prospects: Future Growth Anticipated

• Continued Momentum: The market is expected to maintain its strong growth, reaching $191.06 billion by 2028, driven by a CAGR of 6.0%.
• Shaping Factors: Anticipated growth is fueled by health and wellness trends, sustainability practices, diverse food applications, global market expansion, and the digitalization of the supply chain.

Trends Shaping the Future

• Gluten-Free and Specialty Flours: A growing trend involves the rising popularity of gluten-free and specialty flours catering to varied dietary needs.
• Rice Alternatives: With increased focus on health, alternatives to traditional rice are gaining traction, offering new options to consumers.
• Malt in Craft Brewing: The craft brewing industry is witnessing a surge in the use of malt for its unique flavor and brewing characteristics.
• Malt-Based Snacks and Foods: Malt is finding new applications in snacks and foods, adding nutritional value and distinct flavors.
• Traditional Grain Revival: There’s a renewed interest in traditional grains, driven by a desire for diverse and heritage-based food choices.

Population Growth: A Driving Force

• Growing Population: The expanding global population is a key driver for the increased demand for flour, rice, and malt products.
• Essential Staples: These products, being essential dietary components, continue to witness sustained relevance and growth due to the rising population.
• US Census Bureau Example: In the United States, the resident population increased by 0.4%, emphasizing the ongoing impact of population growth on market demand.

Industry Giants: Leading the Charge

• Key Market Players: Major companies shaping the market include CJ Cheiljedang Corp, Wilmar International Ltd., Louis Dreyfus, Soufflet SA, and many others.
• Diverse Operations: These companies contribute to the diversity and dynamism of the market, each playing a crucial role in shaping the industry landscape.

Read The Full Flour, Rice And Malt Market Report Here:
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Technological Advancements: IoT Integration

• IoT in Flour Milling Machines: Flour milling machines are embracing IoT technology for real-time monitoring and predictive maintenance.
• Real-time Production Data: Sensors installed in milling machines transmit real-time production data over the internet, enhancing monitoring and efficiency.
• Sanku and Vodafone Collaboration: Sanku collaborated with Vodafone to offer IoT technology for flour mills in Tanzania, streamlining real-time management.
• Buhler’s Diorit MDDY/MDDZ Machine: Embedded with sensors for roll disengagement, rotational speed, and temperature monitoring, enhancing operational efficiency.

Market Segmentation: Unveiling Layers

1) By Type:

• Flour: A versatile ingredient with diverse culinary applications.
• Rice: A staple grain consumed globally in various forms.
• Malt: Used in brewing, baking, and as a flavor enhancer.

2) By Distribution Channel:

• Supermarkets/Hypermarkets: Traditional retail giants catering to mass consumer needs.
• Convenience Stores: Offering convenience and quick access to staple products.
• E-Commerce: Digital platforms facilitating convenient online purchases.
• Other Distribution Channels: Diverse channels contributing to market accessibility.

3) By Application:

• Household: Direct consumer use in homes for daily cooking needs.
• Commercial Use: Utilized in restaurants, bakeries, and food processing industries.

Regional Dominance: Asia-Pacific Leading the Way

• 2023 Landscape: In 2023, Asia-Pacific emerged as the largest region in the flour, rice, and malt market.
• Industrial and Economic Growth: The region’s dominance is attributed to robust industrialization, economic development, and diverse end-user industries.

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The Flour, Rice And Malt Global Market Report 2023  provides an overview of the flour, rice and malt market for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The flour, rice and malt market forecast analyzes flour, rice and malt market size, flour, rice and malt market share, leading competitor and their market positions.

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