The global flatbread market accounted US$ 81,796.6 Mn in 2018 and is expected to grow at a CAGR of 6.6% during the forecast period 2019 - 2027, to account US$ 145,180.9 Mn by 2027
Feb 13, 2020, 10:10 ET
NEW YORK, Feb. 13, 2020 /PRNewswire/ -- The global flatbread market accounted US$ 81,796.6 Mn in 2018 and is expected to grow at a CAGR of 6.6% during the forecast period 2019 - 2027, to account US$ 145,180.9 Mn by 2027. A flatbread is a bread made with water, flour, and salt, and then thoroughly rolled into flattened dough. Other ingredients such as corn, rye, millet, and barley are also used for making flatbread. Flatbread products made from whole grain have high amounts of fiber, an essential nutrient that can help prevent obesity and also help reduce the risk of constipation, diabetes, heart disease, and high cholesterol. Flatbreads are rolled out flat and cooked, usually in a brick oven.
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The global flatbread market is bifurcated based on product into tortilla, naan, pita, and others.The pita segment accounted for the largest share in the global flatbread market.
Pita bread is a moist and light flatbread that could be made of both refined as well as whole wheat flour.Pita bread is low in calories, and it is also a rich source of protein and carbohydrate and contains an adequate amount of vitamin B, selenium, and manganese that work together as antioxidants.
Therefore, the high nutritional value of the bread is attracting health-conscious consumers in the developed and developing countries to consume pita bread. These factors are projected to boost the demand for pita bread over the forecast period.
Growing demand for convenience food products is driving the growth of the flatbread market.The demand for convenience foods such as wraps and rolls is growing at a faster pace due to changes in social and economic patterns, as well as an increase in urbanization, buying power and awareness about health foods, changes in food habits and meal patterns, and desire to taste new products.
Convenience food products are rapidly gaining popularity among young-age group and working-class people.The significant shift of people toward convenience foods in developed countries such as the US, Canada, Mexico, Germany, France, and Italy is driving the demand for flatbread globally.
The increasing demand for flatbread for the preparation of various convenience foods is projected to drive the growth of the flatbread market in the forecast period.
North America flatbread market is dominated by US, followed by the Canada.The growth of the market in this region is primarily attributed to the growing demand from the fast-food chains and restaurants in countries such as the US, Canada, and Mexico.
Additionally, the demand for convenience and ready to eat food products is increasing in the region due to the busy lifestyle and a higher standard of living and purchasing power among the consumers.This factor is projected to propel the demand for flatbread in North American countries.
Increasing awareness about the health benefits of flatbread products such as tortilla and pita, coupled with a surge in demand for organic and non-GMO flatbread products are the key factors boosting the flatbread market in North America.
Some of the players present in global flatbread market are American Flatbread Company Inc., California Lavash, Conagra Brands, Inc., Evron foods Ltd, GRUMA, S.A.B. DE C.V., Klosterman Baking Company, Kontos Foods, Inc., Kronos, Signature Flatbreads Ltd, and Stonefire among others.
The overall global flatbread market size has been derived using both primary and secondary source.The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the flatbread market.
Also, multiple primary interviews were conducted with industry participants and commentators in order to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the flatbread market.
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