Wheat bran market will reach $26.16 billion [2021-2028] |
Pune, India, Jan. 24, 2022 (GLOBE NEWSWIRE) — The world wheat bran market the size was $18.57 billion in 2020. The market is expected to grow from $19.35 billion 2021 to $26.16 billion in 2028 at a CAGR of 4.40% during the period 2021-2028. This vital information is presented by Fortune Business Insight™, in its report, entitled, “Wheat Bran Market, 2021-2028.”
According to the research team, factors such as growing knowledge of prebiotics and high fiber foods in terms of positive impacts and growing demand for bran in processed food industry will bolster the growth of the global market. Conventional wheat bran is expected to hold the largest market share due to various applications in the processed food industry and growing consumption of conventional bran due to increasing integration in animal feed.
IMPACT OF COVID-19
Failures in supply chains are hampering market growth during the COVID-19 pandemic
The spread of COVID-19 has affected the whole wheat bran sector in terms of disruption in raw material transportation, shrinking mining facilities and distribution logistics. The spread of the pandemic has imposed various restrictions on the aviation industry, such as a ban on international flights, which will lead to a drop in the transport of dry bulk cargoes. Labor shortages and supply chain disruptions will also severely affect production and delivery schedules. However, according to our observations, wheat production will return to pre-pandemic levels from mid-2020.
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List of Key Players Covered in this Wheat Bran Market Report
- GoodMills Group GmbH (Vienna, Austria)
- Ardent Mills (Colorado, USA)
- Star of West Milling Co. (Michigan, USA)
- Nisshin Seifun Group Inc. (Tokyo, Japan)
- Harinera Vilafranquina SA (Barcelona, Spain)
- Karim Karobar Company (Pvt) Ltd. (Karachi, Pakistan)
- Hindustan Animal Feeds (Gujrat, India)
- Arti Roller Flour Industries Ltd. (Punjab, India)
- Vaighai Group of Companies (Tamil Nadu, India)
- Siemer Milling Co. (Indiana, USA)
The report offers a holistic overview of the market segments and further offers a detailed analysis of the global overview. An in-depth review of the ongoing market trends and opportunities is presented in the report. It further notes an in-depth analysis of the regional outlook and how it is shaping the future road of the market. Additionally, the impacts of COVID-19 have been added to provide our readers with the knowledge to steer their businesses down an optimized path.
By application, the market can be broken down into bakery products, breakfast cereals, pastas and noodles, food application, and other food applications. The food application is expected to dominate the segment in terms of market share owing to the growing demand from livestock farmers due to high fiber feedstuffs.
On the basis of type, the market can be divided into organic and conventional.
Geographically, the global market is classified into North America, Europe, Asia-Pacific, South America, Middle East & Africa.
Drivers and Restrictions
Growing demand for high fiber foods among consumers to support growth
Factors such as a rising trend of high fiber diet among consumers coupled with growing demand for high fiber foods will drive the growth of the market. Furthermore, the integration of wheat suckers for the food processing industry and the growing innovations and development of high-quality wheat suckers will fuel the growth of the market over the forecast period. Increasing consumer knowledge of health benefits, increasing animal consumption of animal feed, palatable characteristics of wheat bran, high fiber content and increasing availability will further push the boundaries of wheat bran market growth.
However, the growing popularity of gluten-free foods is expected to reduce the market share over the forecast period. Additionally, the growing prevalence of celiac disease, ever-changing dietary habits, and increasing availability of wheat bran substitutes will hamper the market growth.
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Asia-Pacific will dominate the market during the forecast duration owing to a large consumer base
Asia-Pacific is a major center for the production of wheat and milled wheat products. The Asia-Pacific market was at $9.9. billion in 2020 and is expected to gain huge market share in the coming years. In addition, a large portion of the livestock population is expected to increase the demand for bran for animal feed. These factors are expected to drive the market demand. Additionally, changing consumer lifestyle in terms of consumption patterns coupled with higher adoption rate of high fiber products such as bran will increase the bran market share footprint of wheat.
North America will contribute higher market share over the forecast period owing to the growing awareness among the people about the additional health benefits. Moreover, the integration of wheat bran in animal feed and the growing number of dominating players in the region will drive the growth of the market.
Partnerships and mergers to help developers develop new ideas to grow their business
Dominant market players often strive to come up with effective strategies that include a wide variety of measures such as partnerships, acquisitions, and various product launches. These strategies are expected to solidify their position in the market, which will further increase their revenue streams. Additionally, some market players are constantly expanding their product lines in order to capture a larger consumer base. For example, in October 2020, the Kellogg Company launched three whole-grain-centric cereals that included flavors such as toasted bran flakes and raisins.
Browse Detailed Abstract of Research Report with TOC:
Detailed Table of Contents:
- Search scope
- Market segmentation
- Research Methodology
- Definitions and assumptions
- Market dynamics
- Market factors
- Market constraints
- Market opportunities
- key ideas
- Overview of the cereal bran market
- Industry SWOT Analysis
- Supply chain analysis
- Recent Industry Developments – Policies, Partnerships, New Product Launches and Mergers & Acquisitions
- Market analysis and overview (in relation to COVID-19)
- Impact of COVID-19 on the market
- Supply chain challenges due to the pandemic
- Potential opportunities to support sales during the calamity
- Global Wheat Bran Market Analysis, Outlook and Forecast, 2017-2028
- Main results/summary
- Market size estimates and forecasts
- By type (value and volume)
- By application (value and volume)
- Baked goods
- Breakfast cereals
- Pasta & Noodles
- Other food applications
- Flow request
- By region (value and volume)
- North America
- Asia Pacific
- South America
Development of key industry
- December 2020: Arista Cereal Technologies announced the launch of its Japan business for low GI and naturally prebiotic special wheat foods, especially in popular local food products such as ramen.
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