The global pre-cooked flour market size was US$ 28.1 billion in 2021. The global pre-cooked flour market is forecast to grow to US$ 39.1 billion by 2030 by registering a compound annual growth rate (CAGR) of 5.1% during the forecast period from 2022 to 2030.
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Pre-cooked flours are created from pre-cooked grains or by hydrothermal extrusion of grains, corn, or other sources. Pre-cooked flour has been proven to deliver a better texture and sensory experience than its regular counterparts. Moreover, pre-cooked flour is used in household dishes, bakery items, fast food items, meat products, and soups.
The U.S. Bureau of Economic Analysis and the U.S. Census Bureau reports that the goods and services deficit rose from $68.7 billion in January 2023 to $70.5 billion in February, an increase of $1.9 billion. Due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion, the goods and services deficit increased in February. The goods and services deficit has decreased this year by $35.5 billion, or 20.3% when compared to the same period in 2022. $10.8% more, or $49.5 billion, was exported. Imports cost $2.2% more, or $14.0 billion, than exports.
Factors Influencing the Market
Growing urbanization and rising awareness related to the benefits of pre-cooked flour will contribute to the growth of the market during the study period.
Rapidly growing fast-food chains will also contribute to the growth of the pre-cooked flour market as most of them use bread made from pre-cooked flour. In addition to that, the widely growing demand for instant food will drive the growth of the pre-cooked flour market during the study period.
Instant food items use the textural features of pre-cooked flours. Pre-cooked flours, such as maize and rice, are frequently employed in the instant food sector since they are the most cost-effective and natural thickening agents available. Soups, noodles, instant gravies, spice mixes, and other pre-cooked flour-based dishes are among the most popular. Thus, the growing popularity of these dishes will escalate the growth of the pre-cooked flour market during the study period. On the contrary, lack of awareness related to pre-cooked flour may limit the growth of the pre-cooked flour market during the forecast period.
COVID-19 Impact Analysis
During the COVID-19 pandemic, most fast-food chains closed their doors in order to abide by the government rules. The fast-food industry witnessed a drastic drop in countries like China, India, the United States, etc., which also hampered the demand for pre-cooked flour. Moreover, the manufacturing units of pre-cooked flour also experienced innumerable challenges, which ultimately hampered the growth of the pre-cooked flour market. However, people started consuming healthy soups more, which encouraged the demand for pre-cooked flour from households.
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Regional Analysis
The Asia-Pacific pre-cooked flour market is forecast to record the highest growth rate in terms of revenue. It is owing to the rising consumption of healthy soup and pasta products in the region, which are developed from precooked corn flour. In addition, the increasing demand for ready-to-eat nutrient-rich meals and busy lifestyle of people will contribute to the growth of the pre-cooked flour market.
Competitors in the Market
? Goya Foods
? Harinera del Valle
? Agrindustria Tecco Srl
? Empresas Polar
? Anto Natural Foods
? Quaker Oats Company
? Spiral Foods
? Herba Ingredients
? Cereal Veneta
? Other Prominent Players
Market Segmentation
The global pre-cooked flour market segmentation focuses on Type, Application, and Region.
By Type
? Maize
? Wheat
? Rice
? Legumes
? Beans
By Application
? Soup
? Bakery Products
? Sauces and Dressings
? Breakfast Cereals
? Noodles and Pasta
? Other
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By Region
�?� North America
o The U.S.
o Canada
o Mexico
�?� Europe
Western Europe
o The UK
o Germany
o France
o Italy
o Spain
o Rest of Western Europe
Eastern Europe
o Poland
o Russia
o Rest of Eastern Europe
�?� Asia Pacific
o China
o India
o Japan
o Australia & New Zealand
o ASEAN
o Rest of Asia Pacific
�?� Middle East & Africa (MEA)
o UAE
o Saudi Arabia
o South Africa
o Rest of MEA
�?� South America
o Brazil
o Argentina
o Rest of South America
What is the goal of the report?
? The market report presents the estimated size of the market at the end of the forecast period. The report also examines historical and current market sizes.
? During the forecast period, the report analyzes the growth rate, market size, and market valuation.
? The report presents current trends in the industry and the future potential of the North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa markets.
? The report offers a comprehensive view of the market based on geographic scope, market segmentation, and key player financial performance
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