Grain Products Market Characteristics
The grain products manufacturing market consists of sales of grain products by entities (organizations, sole traders and partnerships) that mill flour meal from grains or vegetables, prepare flour mixes or doughs from flour, mill, clean and polish rice and produce malt from barley, rice and other grains. The companies in the grain products industry process raw materials into grain products, package and distribute them through various distribution channels to both individual customers and commercial establishments.
Competitive Landscape of the Grain Products Market
Major players in the global grain products market include Archer Daniels Midland Company, Ingredion Incorporated, Malteurop Groupe, GrainCorp Malt, China Agri-Industries Holdings Limited, Bunge Limited, Agrana Beteiligungs-Ag, Boortmalt Gr. Axéréal, Malteries Soufflet, Global Bio-Chem Technology Group Company Limited.
Grain Products Market Size
The grain products market size is expected to reach $350 billion by 2022, significantly growing at a CAGR of around 7% during the forecast period. The growth in the grain products market is due to the increased demand for wheat, rice, barley, oat and corn, primarily in developing countries, increasing population in many Asian countries, growing usage of grain products in the manufacturing of bread and other bakery items and rising awareness about gluten-free products.
However, the market for grain products is expected to face certain restraints from several factors such as sudden change in weather and shift towards organic foods.
Grain Products Market Segmentation
The global grain products market is further segmented based on type and geography.
By Type - The grain products market is segmented into flour, rice & malt and wet corn, and wet corn milling, among these segments, the flour, rice & malt market accounts for the largest share in the global grain products market.
By Geography - The global grain products is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, the South America grain products market accounts the largest share in the global grain products market.
Trends in the Grain Products Market
NIR analysers to improve flour milling, automation in rice milling and innovative sensor technologies to improve yield are the major trends witnessed in the global grain products market.
Potential Opportunities in the Grain Products Market
With increased demand for bread in Asian countries such as China, India and Singapore is driving the demand for wheat flour, the scope and potential for the global grain products market is expected to significantly rise in the forecast period.