The global barley flakes market was valued at US$ 6,800 million in 2020, according to Global Barley Flakes Market Report, by Product (Conventional and Organic), by Distribution Channel (Supermarket, Hypermarket, and Online), and by Region (North America, Latin America, Asia Pacific, Europe, and Middle East & Africa), published by Coherent Market Insights.
The global barley flakes market is expected to surpass US$ 9,382.1 million by 2028, exhibiting a CAGR of 4.20% during the forecast period (2021-2028).
Barley flakes 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. The increasing penetration of high speed internet and smartphone users in the developing countries such as China, India, and Bangladesh is expected to promote the expansion of the e-commerce channel in the global market for barley flakes over the forecast period. Key manufacturers are adopting marketing strategies including mergers and acquisitions in order to gain maximum customer penetration. The regular consumption of these barley flakes results in improved metabolic activity and reduced the risk of high blood pressure, cardiovascular diseases, cancer, and diabetes. As a result, processed snacks manufacturers are shifting their focus to healthy and sustainable ingredients for preparing snacks. These flakes are capable of providing excellent nutritional properties with high dietary fiber content as compared to conventional cereals, including wheat and cornflakes.
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Browse 25 market data tables* and 20 figures* on "Barley Flakes Market” - Global Forecast to 2028.
Key Trends and Analysis of the Barley Flakes Market:
- Among regions, Europe accounted for a significant market share in 2020. Major manufacturers including Nestlé, General Mills, and Kellogg are adopting various marketing strategies such as new product launches, retail chain expansion, and mergers and acquisitions in order to gain a competitive edge in the market for barley flakes. Asia Pacific is expected to be the fastest growing region, expanding at a revenue-based CAGR of 5.96% % from 2021 to 2028. Major manufacturers are launching innovative products in order to expand portfolio with barley contained multigrain cereals and breakfast products. For instance, in December 2020, Gaia, a health and wellness brand owned by Cosmic Nutracos Solutions Private Limited, launched a new product called Oats Multigrain.
Key Takeaways of the Market:
- The supermarket segment was the largest distribution channel in 2020, accounting for 44.3% share of the global market. Over the past few years, the key players have been investing in developing countries such as India, Thailand, Bangladesh, and Taiwan, in order to capture the untapped markets. These factors are expected to expand the utility of supermarkets as a selling source. For instance, in February 2019, 7-Eleven, one of the largest convenience store chains, entered into an agreement with Future Group in order to launch its first series of store in India.
- Major 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
Global Barley Flakes Market - Impact of Coronavirus (COVID-19) Pandemic
- The global barley flakes market has been negatively impacted to some extent due to the ongoing COVID-19 pandemic. This can be attributed to the imposition of lockdown, travel restrictions, and shutting down manufacturing facilities. Moreover, the unavailability of raw materials required for farming had further hampered demand for barley flakes. However, restarting of international trade and ease of trade restrictions is expected to generate demand for barley flakes in the upcoming years. Moreover, the loosening of restrictions and reopening of manufacturing facilities is expected to boost demand for barley flakes over the post-pandemic period.