BARLEY FLAKES MARKET ANALYSIS

Barley flakes are made from pearl barley which have been steamed and rolled. Barley flakes can be cooked like oatmeal for hot cereal, used in a muesli mix or used as an ingredient in baked goods such as breads, muffins, and cookies.

The global barley flakes market is estimated to surpass US$ 9,382.1 million by the end of 2028 in terms of revenue, exhibiting a CAGR of 4.20% during the forecast period (2021 to 2028).

Drivers

Barley flakes are ideal for breakfast, making granola or to add texture to muffins or cookies. The organic barley flakes are stabilized by neutralizing the enzymes that stimulate rancidity. They also have a more chewy texture. The rising demand for the nutritious breakfast cereals among health conscious consumers, particularly youth population is expected to be a key driving factor for the barley flakes industry growth over the forecast period. Moreover, excellent nutritional properties, coupled with the ease of cooking associated with flakes, are projected to prompt the product consumption among the working class population over the forecast period.

Among regions, Europe held dominant position in the global barley flakes market in 2020, accounting for 34.23% market share, in terms of revenue, followed by Asia Pacific and North America.

Figure 1. Global Barley Flakes Market Revenue Share (%), By Region, 2020

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Market Restraints

Lesser awareness regarding health benefits associated with barley flakes in the emerging economies such as majority of African countries is expected to hamper the market growth over the forecast period. Moreover, lack of universal directives pertaining to applications of barley flakes is expected to restrain the market growth during forecast period.

Market Trends

The rising prevalence of chronic diseases such as high blood pressure, diabetes, and cardiovascular diseases has fuelled the demand for barley-based flakes in daily meals. Barley itself is a rich source of soluble fibre beta-glycan, which helps to promote the absorption of the nutrients in the human body. This helps to lower the bad cholesterol and blood sugar level of the body as well as increase the good bacteria, which helps in improving the digestive system of the human body.

Figure 2. Global Barley Flakes Market – Opportunity Analysis

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On the basis of product, in 2020, conventional segment accounted for 72.80% of the revenue share, in the global barley flakes market. These products are projected to remain a preferred choice among the consumers owing to their low price and easy availability through various channels including brick and mortar stores and e-commerce portals. Moreover, the ability of barley flakes to improve the nutritional value of food is further expected to drive its demand over the forecast period.

Figure 3. Global Barley Flakes Market Revenue Share (%), By Product Type, 2020

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Global Barley Flakes Market - Impact of Coronavirus (COVID-19) Pandemic

The global market for barley flakes has been impacted due to the ongoing COVID-19 pandemic. Several governments across the globe have imposed nationwide lockdowns to limit the spread of the virus, which resulted in the shutting down of businesses and ceasing of several economic activities. For instance, according to the International Monetary Fund’s 2020 report, the global economy contracted sharply by 3.0% in 2020, which is worse than the 2008-09 financial crisis. Moreover, the supply chain disruption has indirectly led to low demand for the barley flakes.

Competitive Section

Key players operating in the global barley flakes market include King Arthur Flour Company, Inc., Honeyville, Inc., Nestlé, Kellogg, Cereal Food Manufacturing Company, Bob’s Red Mill Natural Food, Rude Health, Naturally Yours, Gaurang Foods, VLS Foods Pvt. Ltd., VEE GREEN ORGANIC LIFE CARE PRIVATE LIMITED, Nith River Milling, and Hodmedod's British Pulses & Grains.