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Key players of Functional Flours Market for Product Development
The functional flours market is highly fragmented, with key market players making investments and strategic alliances through agreements and acquisitions with other players to strengthen their business. The market is considerably competitive, with the leading players being involved in innovating new types of functional flours to be used in a variety of applications. This is done by actively investing in research & development activities and attracting new customers with their products. The market caters to different food markets, especially bakery, R.T.E., soup & sauces, and other products such as coatings, condiments, seasonings bases, spreads, baby food, dairy substitutes, special diet food, beverages, prepared mixes, and processed meat products such as sausages, bologna, frankfurters, and meat loaves.
The key companies involved in the manufacture of functional flours include Archer Daniels Midland Company (U.S.), Associated British Foods plc (U.K.), Bunge Limited (U.S.), Cargill, Incorporated (U.S.), General Mills, Inc. (U.S.), SunOpta, Inc. (Canada). Other players include AGRANA Beteiligungs-AG (Austria), The Hain Celestial Group, Inc. (U.S.), The Scoular Company (U.S.), and Parrish and Heimbecker, Limited (Canada).
The rise in consumption of processed food products is one of the key driving factors for the growth of the functional flours market. This has encouraged key players in developed countries to enter the untapped markets of developing regions such as Asia-Pacific and Latin America. The key players also intend to extend their operations to these new markets and set up new offices to create a dynamic global network.
Functional Flours Market by Type (Pre-cooked Flour, Specialty Flour, Fortified Flour), Application (Bakery, Soups & Sauces, R.T.E Products), Source (Cereals, Legumes) & Region (North America, Europe, Asia-Pacific, RoW) - Global Trends & Forecast to 2019
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