Flatbread Market to reach $62.8 Billion by 2026 | Region wise, Europe is expected to grow at a CAGR of 6.7
Global Flatbread Market Overview
PORTLAND, 5933 NE WIN SIVERS DRIVE, #205, OR 97220, UNITED STATES, May 31, 2023/EINPresswire.com/ -- According to a new report published by Allied Market Research, titled, "Flatbread Market by Product Type and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2019–2026," the global flatbread market size was valued at $38.8 billion in 2018, and is projected to reach $62.8 billion by 2026, registering a CAGR of 6.2% from 2019 to 2026. A flatbread is made with water, flour, and salt and exist in various cultures throughout the world.
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The key players operating in the Flatbread Market includes Kronos, Kontos Foods Inc., Klosterman Baking Company, Evron Foods Ltd., California Lavash, GRUMA, S.A.B. de C.V, La Brea Bakery, Olé Mexican Foods Inc., Tyson Food Inc. and Nina Bakery Europe
The thickness of the bread can range from a few millimeters to a few centimeters. Moreover, rather than using a spoon or fork, many people use a flatbread to scoop or wrap food. Multigrain variants of flatbread are gaining popularity owing to increased health awareness. Various types of flatbreads are prepared by pouring semi-fluid batters onto cooking plates. These batters are often obtained from gluten-free cereals like rice, sorghum, teff, maize, or black beans which are usually fermented.
Flatbreads are cooked quickly owing to reduced thickness so their color remains light. Furthermore, owing to its widespread geographical distribution and high frequency and regularity of consumption, flatbread has been considered a suitable option for increasing the dietary intake of various vitamins and microelements.
In addition, increase in number of quick service restaurants which is also known as a fast food restaurant have created a positive impact on the consumption of flatbread. This restaurant is usually part of a franchise or restaurant chain operation, which provides standardized ingredients or partially prepared foods.
Moreover, increase in attraction of millennials and gen Z toward quick service restaurants owing to the innovation in food products, restaurants, themes, and others result in the growth of the market. In addition, increase in busy lifestyle of the consumers along with rise in disposable income and availability of ready-to-eat food products drive the growth of the flatbread market. However, keeping flatbread moist, soft, and mold-free has been a top issue for the stakeholders. Moreover, flatbreads are also spoiled through microbial growth, oxidation, discoloration, and also due to moisture loss, which results in affecting the flatbread market growth.
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In addition, introduction of clean label in flatbread focuses on avoidance of additives, artificial colors, chemicals, artificial flavors, GMO’s, high fructose corn syrup, and hydrogenated oil. Moreover, clean label is a consumer driven movement, which demands a return to real food and transparency through authenticity. The regulations associated with flatbread products related to various ingredients used in the process, food hygiene, health claims, and others fosters the growth of the market.
Furthermore, introduction of clean label creates a trust factor within the consumer owing to which they can rely on manufacturers of food, which also fuel the growth of the flatbread market share.
The increase in penetration of various online portals in developing regions and the rise in number of offers or discounts which attracts the consumer to purchase flatbread through online channel augment the growth of the flatbread industry. Moreover, online sales channel has increased the consumer reach owing to which it has evolved as a key source of revenue for many companies. Furthermore, the online sales market is expected to expand in the near future due to rapid growth in online and mobile user customer bases in emerging markets. Increase in e-commerce sales, improvements in logistics services, ease in payment options, and the facility to enter new international markets for major brands further boost the flatbread market.
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Key Findings of the Study
Based on product type, the tortilla segment dominated the global market in 2018, and is expected to retain its dominance throughout the flatbread market forecast period.
Depending on product type, the others segment accounted for highest share in the flatbread market analysis in 2018, and is projected to grow at a CAGR of 10.2% from 2019 to 2026.
By distribution channel, the business-to-business segment was the major shareholder in 2018, and is projected to register a CAGR of 5.8% from 2019 to 2026.
Region wise, Europe is expected to grow at a CAGR of 6.7 from 2019 to 2026.
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