Major companies in the flour, rice & malt market include Archer Daniels Midland Company; ConAgra Brands Inc. ; Cargill; Bunge Limited and Riceland foods Inc. The global flour, rice and malt market is expected to grow from $124.
New York, Feb. 04, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Flour, Rice And Malt Global Market Report 2021: COVID 19 Impact and Recovery to 2030" - https://www.reportlinker.com/p06018915/?utm_source=GNW
93 billion in 2020 to $137.14 billion in 2021 at a compound annual growth rate (CAGR) of 9.8%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $176.32 billion in 2025 at a CAGR of 6%.
The flour, rice & malt market consists of sales of rice flour, barley flour, buckwheat flour, durum flour, fruit flour, graham flour, oat flour, potato flour and rye flour by entities (organizations, sole traders and partnerships) that mill flour or 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 flour, rice & malt industry process raw materials into flour, rice & malt products, package and distribute them through various distribution channels to both individual customers and commercial establishments. The flour, rice & malt market is segmented into flour; rice and malt.
Asia Pacific was the largest region in the global flour, rice and malt market, accounting for 50% of the market in 2020. North America was the second largest region accounting for 20% of the global flour, rice and malt market. Africa was the smallest region in the global flour, rice and malt market.
Flour milling machines are increasingly being embedded with IoT technology to monitor production and for predictive maintenance. Flour milling machines are installed with sensors that transmit real time production data to a computer system over the internet. Data is continuously monitored for production efficiency and to understand the state of machine components. For instance, Sanku, a company that develops fortification technologies collaborated with Vodafone to offer IoT technology for flour mills in Tanzania. The technology allows a single person to manage around 100 mills in real time. The Diorit MDDY / MDDZ flour milling machine by Buhler is embedded with sensors such as roll disengagement monitoring, roll rotational speed monitoring, roll temperature monitoring, bearing temperature monitoring that continuously transmit data to a computer for monitoring purposes.
The outbreak of Coronavirus disease (COVID-19) has acted as a massive restraint on the flour, rice and malt manufacturing market in 2020 as supply chains were disrupted due to trade restrictions and consumption declined due to lockdowns imposed by governments globally. COVID 19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China and spread globally including Western Europe, North America and Asia. Food and beverage manufacturers depend on supply of raw materials from domestic and international suppliers. As many governments restricted the movement of goods across countries and locally, manufacturers had to halt production due to lack of raw materials. Also, restrictions on trade of non-essential goods and fear of contamination through manufacturing facilities contributed to the decline. The outbreak is expected to continue to have a negative impact on businesses throughout 2020 and into 2021. However, it is expected that the flour, rice and malt manufacturing market will recover from the shock across the forecast period as it is a ’black swan’ event and not related to ongoing or fundamental weaknesses in the market or the global economy.
Many countries across the globe are experiencing falling prices of crops due to overcapacity; this is expected result in low raw material costs for flour, rice and malt manufacturing companies. For example, in 2019, the Indian government spent $873 million to subsidize the export of sugar as a result of overproduction of sugarcane, thereby reducing prices. Thus, overproduction of certain crops is likely to result in higher profit margins for food and beverage companies. Higher profit margins will enable flour, rice and malt manufacturing companies to increase their production and drive the market going forward.
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