Report : South and Central America Wheat Flour Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Product Type (All-Purpose Flour, Semolina and Durum Flour, Whole-Wheat Flour, Bread Flour, and Others), End User (Residential and Commercial), Application (Bread, Bakery Products, Noodles and Pasta, and Others), and Distribution Channel (Supermarkets and Hypermarkets, Convenience Stores, Online, and Others)
Bread Segment to Dominate SAM Wheat Flour Market during 2020–2027
According to The Insight Partners market research study on “SAM Wheat Flour Market Forecast to 2027 – COVID-19 Impact and Analysis – By Product Type (All-Purpose Flour, Semolina and Durum Flour, Whole-Wheat Flour, Bread Flour, and Others), End User (Residential and Commercial), Application (Bread, Bakery Products, Noodles and Pasta, and Others), and Distribution Channel (Supermarkets and Hypermarkets, Convenience Stores, Online, and Others),” is expected to reach US$ 16,939.65 million by 2027 from US$ 14,410.46 million in 2019 and is expected to grow at a CAGR of 2.4% from 2020 to 2027. The report provides trends prevailing in the SAM wheat flour market along with the drivers and restraints pertaining to the market growth. Growing demand for convenience food products is the major factor driving the growth of the SAM wheat flour market. However, shorter shelf life and improper storage facilities for wheat flour hinder the growth of SAM wheat flour market. Furthermore, COVID-19 has affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. In SAM region, Brazil has the highest number of COVID-19 cases, followed by Peru, Ecuador, Chile, and Argentina, among others. The government of South America has taken an array of actions to protect their citizens and contain COVID-19’s spread. It is anticipated that South America will face lower export revenues, both from the drop in commodity prices and reduction in export volumes, especially to China, Europe, and the United States, which are important trade partners. Containment measures in several countries of South America will reduce economic activity in the manufacturing and service sectors for at least the next quarter, with a rebound once the epidemic is contained.
The SAM wheat flour market is segmented into product type, end user, application, and distribution channel. Based on product type, the SAM wheat flour market is categorized into all-purpose flour, semolina and durum flour, whole-wheat flour, bread flour, and others. The bread flour segment dominated the market of the total market share during the forecast period whereas the whole-wheat flour segment is expected to register the fastest growth rate during the forecast period. Based on end user, the SAM wheat flour market is categorized into residential and commercial. In 2019, the SAM wheat flour market was dominated by the commercial segment. The application segment of SAM wheat flour market is sub-segmented into bread, bakery products, noodles and pasta, and others. The SAM wheat flour market was dominated by the bread segment. The SAM wheat flour market based on distribution channels has been segmented into hypermarkets and supermarkets, convenience stores, online, and others. The supermarket and hypermarket segment held a substantial market share during the forecast period.
Archer-Daniels-Midland Company, General Mills Inc., George Weston Foods Limited, KORFEZ Flour Group are among the leading companies in the SAM wheat flour market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance in 2019, Archer-Daniels-Midland Company introduced a line of consistent, high quality and high performing organic flours. The new line utilizes ADM’s extensive wheat sourcing network and USDA organic-certified facility to provide consistent wheat procurement and processing tailored to meet customer needs. The new organic flour portfolio includes organic all-purpose flour and organic premium bread flour, with additional organic milled products coming soon.
The Report Segments The SAM Wheat Flour Market As Follows: