LONDON--(BUSINESS WIRE)--The global spelt market is expected to grow at a CAGR of close to 5% during the period 2018-2022, according to a new market research study by Technavio.
The report presents a comprehensive research of the global spelt market by product that includes organic spelt and conventional spelt. The report also determines the geographic breakdown of the market in terms of detailed analysis and impact, which includes key geographies such as APAC, the Americas, and EMEA.
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Market driver: change in food preferences among consumers
Consumers are shifting from traditional to modern eating habits due to their changing lifestyle. They are increasingly choosing a working lifestyle with growing focus on education, particularly women. The busy lifestyle begets need for healthier food habits. Moreover, the increasing rate of urbanization is also influencing the eating habits of the consumers. They are keen to try various cuisines and ingredients due to the exposure to worldwide culture.
According to a senior analyst at Technavio for food research, “Consumers select food items based on ingredients and taste preferences. These factors are influencing the food choice of consumers. This has a positive influence on the global spelt market as consumers are willing to try different grains such as spelt. In many countries, consumers usually use grains such as wheat, rice, barley, and others. The change in food preference will motivate the use of spelt. Thus, the change in food preferences among consumers is driving the growth of global spelt market.”
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Market trend: rising demand for organic food
There is an increase in the demand for organic food among consumers. They are increasingly preferring organic variants for all conventional food and beverage products. The rising incidences of health-related issues are making them more conscious about the food they consume. Consumers are looking for labels and certificates that describe the whole collection of product attributes. This has increased the use of organically produced ingredients as they are eco-friendly. This tendency in the market is expected to increase the demand for organic spelt. Considering the demand, many manufacturers are concentrating on producing organic spelt grain and organic spelt-based products.
Market challenge: shortage of spelt
The global spelt market is facing challenges because of the shortage of spelt. Owing to the increasing demand from consumers, supply is not meeting demand. This is leading to various situations that are hindering the growth of the market. The shortage of spelt is a result of poor harvests. This is affecting the entire supply chain. It demotivates the farmers as well as distributors and affects the profit margins at each stage of the supply chain.
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Some of the major companies in the global spelt market:
- Archer Daniels Midland Company
- ARDENT MILLS
- Cargill
- Doves Farm Foods
- Hain Celestial
- Sharpham Park
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