The global barley flakes market is estimated to reach USD 8.5 billion, by 2025, and is projected to grow at a CAGR of 4.7% from 2019 to 2025, according to a new report by Million Insights. The increasing demand for the nutritional cereals in the meals & breakfast is projected to be a key factor propelling the market growth. Moreover, the growing awareness regarding the benefits of consuming product is projected to boost the product demand.
The organic type flakes are projected to grow at the highest CAGR of around 4.6% over the forecasted period. Moreover, the government authorities across the globe are also supporting the organic crop production and promoting the product by creating awareness about it. According to the European Commission (EC), in 2017, around 7% of the total agricultural land in Europe has constituted to organic farming.
Moreover, the manufacturers focus on new product launches in organic grains owing to high demand for organic food from consumers. For example, in 2018, Rude Health launched organic cereal-based snacks, it provides the breakfast under a brand called Naked Barley Porridge. All these key factors are anticipated to encourage consumers to look after the organic and nutritional products.
The market is heavily fragmented due to the presence of leading players including King Arthur Flour Company, Inc.; Quaker Oats Company; Honeyville, Inc.; Nestlé; Shiloh Farms and Kellogg.
Top players in the market are focusing on strategies such as product innovations, investment, mergers, and acquisitions to increase their reach across the globe. For instance, in 2018, King Arthur Flour Company have announced an investment of USD 1.5 million with a focus on organic grain research.
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Further key findings from the report suggest:
- Depending on product, the organic forms are projected to grow at the highest CAGR of around 4.6% over the forecasted period.
- Asia Pacific region is anticipated to grow at a CAGR of 5.2% during the forecasted period.
- In 2018, the total demand from Europe accounted for 2.6 million tons.
- Key players in barley flakes market focus on strategic activities such as new product launch, and acquisitions to gain competitive edge in the market.
Million Insights has segmented the global barley flakes market based on product, distribution channel, and region:
Product Outlook:
- Conventional
- Organic
Distribution Channel Outlook:
- Convenience Stores
- Supermarket/Hypermarket
- Online
Regional Outlook:
Asia Pacific region is expected to grow at the significant rate of CAGR over the forecasted period, between 2019 and 2025. The increasing demand for nutritional products along with growing interest among health-conscious individuals is expected to foster the market growth. For instance, in 2018, the Gaia health brand of Cosmic nutracos solutions has introduced oat multigrain products with a mix of wheat and flakes. The product is helpful in overweight management.
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