The global wheat bran market size was USD 18.57 billion in 2020. The market is projected to grow from USD 19.35 billion 2021 to USD 26.16 billion in 2028 at a CAGR of 4.40% during the 2021-2028 period. This vital information is presented by Fortune Business Insights™, in its report, titled, “Wheat Bran Market, 2021-2028.”
As per the research team, factors such as increasing knowledge of prebiotics and fiber-rich foods in terms of their positive impacts and rising demand for bran across the processed food industry will bolster the growth of the market globally. Conventional wheat bran is expected to hold the largest market share due to various applications in the processed food industry and increasing consumption of conventional bran due to rising integration in animal feed.
Faults in the Supply Chains to Hinder Market Growth during COVID-19 Pandemic
The spread of COVID-19 has affected the whole wheat bran sector in terms of disrupting raw material transport, decreased mining facilities, and distribution logistics. The spread of the pandemic has put various restrictions on the aviation industry such as ban in international flights which will lead to a drop in transporting dry bulk cargo consignments. Labor shortages and disruptions in the supply chain will also severely affect the production and delivery schedules. However, according to our observations, the production of wheat will return to pre-pandemic levels from mid-2020 onwards.
Browse Complete Report Summary:
List of Key Players Covered in this Wheat Bran Market Report
- GoodMills Group GmbH (Vienna, Austria)
- Ardent Mills (Colorado, U.S.)
- Star of West Milling Co. (Michigan, U.S.)
- Nisshin Seifun Group Inc. (Tokyo, Japan)
- Harinera Vilafranquina S.A. (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, U.S.)
The report offers a holistic overview of the market segments and further offers a detailed analysis of the global overview. A profound examination of the ongoing market trends and opportunities are presented in the report. It further notes an in-depth analysis of the regional insights and how they shape the future market route. Additionally, the impacts from COVID-19 have been added in order to provide our readers with the knowledge to steer their businesses towards an optimized path.
By application, the market can be broken down into bakery products, breakfast cereals, pasta & noodles, feed application, and other food applications. Feed application is expected to dominate the segment in terms of market share owing to rising demand among animal farmers due to fiber-rich animal feed.
On the basis of type, the market can be divided into organic & conventional.
Geographically, the global market is classified into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
Drivers and Restraints
Rising Demand for High Fiber Foods Among Consumers to Bolster Growth
Factors such as a rising trend of fiber-rich diet among consumers coupled with increasing demand for high fiber food will boost the growth of the market. Also, integration of wheat millers for the food processing industry and rising innovations and development for high-quality wheat miller brans will fuel the growth of the market during the forecast period. Increasing consumer knowledge regarding the health benefits, rising animal consumption of animal feed, palatable features of wheat bran, high fiber content, and rising availability will further push the boundaries of the wheat bran market growth.
However, rising popularity of gluten-free foods is expected to decrease the market share during the forecast period. Also, rising prevalence of celiac disease, constantly evolving dietary patterns, and increasing availability of wheat-bran substitutes will hinder the market growth.
Asia Pacific to Dominate Market During the Forecast Duration Due to a Large Consumer Base
Asia Pacific is a major production hub of wheat and wheat milled products. The market in Asia Pacific stood at USD 9.9. billion in 2020 and is expected to gain a huge market share in the upcoming years. Also, a huge chunk of livestock population is expected to increase the demand for bran as animal feed. These factors are expected to boost the demand for the market. Additionally, changing lifestyle of the consumer in terms of consumption patterns coupled with a higher rate of adoption for fiber rich products such as bran will increase the footprint of the wheat bran market share.
North America will contribute a higher market share during the forecast period due to increasing awareness among population in terms of added health benefits. Also, integration of wheat bran into animal feed and rising number of dominant players in the region will boost the growth of the market.
Partnerships & Mergers to Help Developers Expand New Ideas Towards Expanding Business
The dominant players in the market are often striving 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 cement their market position that will further increase their revenue streams. Also, some players in the markets are constantly developing their product line-ups in order to capture a larger consumer base. For example, in October 2020, Kellogg Company launched three whole grain centric cereals that included flavors such as roasted bran flakes and raisins.
Key Industry Development
- December 2020: Arista Cereal Technologies announced initiating their activities in Japan for foods made from special low-GI, naturally prebiotic wheat particularly in popular local food articles such as ramen.
TDS return - a quarterly statement submitted by a deductor to the Income Tax Department. Click and know all about h ...Read More
JR Compliance guarantees to provide you complete support in acquiring the FMCS BIS certificate. Click to know more ...Read More