The Latin America, Middle East and Africa Prepared Flour Mixes Market would witness market growth of 8.2% CAGR during the forecast period (2021-2027).
As more consumers turn away from artificial sweeteners, preservatives, and chemicals, manufacturers are focusing on developing or manufacturing prepared flour mixes utilizing natural or organic components. As a result, gluten-free and natural flour mixes are becoming increasingly popular. Meanwhile, major businesses are investing in research to discover new tastes and improve their taste. Flour mix companies are performing quality-assurance testing of the product because they are ingredient-focused and nutrition-focused, and they are willing to pay more for a higher-quality product.
South Africa, Iraq, and Israel are among the MEA nations with the highest number of confirmed COVID-19 cases and deaths. The COVID-19 pandemic, as per the International Finance Corporation, has had a significant influence on the Middle East and Africa's economy, resulting in a drop in oil production, tourism, and remittances. In the Middle East and Africa, South Africa has the most COVID-19 cases, followed by the UAE and Saudi Arabia. Various food and beverage companies stayed closed as a result of the Middle East and African countries' lockdowns, reducing the sale of various items and negatively impacting the prepared flour mix market in the region. Premiumization of premixes is gaining popularity among consumers as a result of its functional characteristics. In addition, South American countries such as Brazil and Ukraine have robust demand for such premixes.
The Brazil market dominated the LAMEA Prepared Flour Mixes Market by Country in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $656.4 million by 2027. The Argentina market is anticipated to grow at a CAGR of 8.8% during (2021 - 2027). Additionally, The UAE market would display CAGR of 7.9% during (2021 - 2027).
Based on Application, the market is segmented into Bakery Shops, Food Processing Industry, Household and Others. Based on Product, the market is segmented into Bread Mix, Pastry Mix and Batter Mix. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Prepared Flour Mixes Market is Predict to reach $34.2 Billion by 2027, at a CAGR of 6.6%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Lesaffre Group, Wilmar International Limited, Bakels Group, Puratos NV/SA, Allied Mills, Rich Products Corporation, Nisshin Seifun Group Inc., CJ CheilJedang Corporation, and PT. Pondan Pangan Makmur Indonesia.
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