The Asia Pacific flatbread market is accounted to US$ 12,363.6 Mn in 2018 and is expected to grow at a CAGR of 7.0% during the forecast period 2019 - 2027, to account to US$ 22,667.1 Mn by 2027.
A flatbread is a bread made with water, flour, and salt, and then thoroughly rolled into flattened dough. Traditionally, flatbread is an unleavened bread that is made without yeast. Flour, water, and salt are the main ingredients used for making flatbread. Other ingredients such as corn, rye, millet, and barley are also used for making flatbread. Flatbread products made from whole grain have high amounts of fiber, an essential nutrient that can help prevent obesity and also help reduce the risk of constipation, diabetes, heart disease, and high cholesterol. The Asia Pacific flatbread market is segmented on the basis of product as - tortilla, naan, pita, and others. The naan segment dominated the Asia Pacific flatbread market, whereas the pita segment in the Asia Pacific flatbread market is estimated to garner the fastest-growing segment in the market. Naan is a leavened bread which is a major part of cuisines in South Asia, West Asia, Central Asia, and the Carribeans. Naan is cooked inside a hot tandoor, a cylindrical clay and brick oven which has a dome-shaped top. The naan dough is hurled at the wall of the tandoor where it sticks. The naan is allowed to bake until it puffs up and is charred slightly in spots. It is then removed from the tandoor with a stake. Naan manufacturers have introduced a number of naan variants to capture the flatbread market. A number of naan varieties such as butter naan, garlic naan, stuffed naan, chilli cheese naan, and laccha naan have been introduced by manufacturers to adapt to the changing consumer tastes and gain significant share in the flatbread market.
The Asia Pacific flatbread market is segmented based on distribution channel as hypermarkets and supermarkets, bakeries, convenience stores, and others. The hypermarkets and supermarkets segment holds the largest share in the Asia Pacific flatbread market, while the convenience stores segment is estimated to garner the fastest-growing segment. Convenience stores are stores that are located in a limited area, and are small in size as compared to hypermarkets and supermarkets. Unlike hypermarkets and supermarkets, the convenience stores are open till late at night. This adds an added bonus for the sales of any product, in this case, flatbreads. The extended availability at night and the early opening of the convenience stores in the morning are the go to outlets for the people who are in hurry and shopping in haste. The convenience stores have limited staff and are located at almost every locality. These factors have collectively boosted the sales of the flatbread significantly.
Asia Pacific flatbread market is segmented based on country as - Australia, Japan, India, Japan, South Korea, and Rest of APAC. China holds the largest share in the Asia Pacific flatbread market, which is followed by India. Increasing household incomes have provided high purchasing powers of the consumers, and urbanization has made it easier for Chinese families to access better options of food. A move towards healthy lifestyle including workout, eating balanced and healthy food, etc. has become the need of hour. The low manufacturing and capital costs in China attract new investment and better opportunities for food and beverage businesses in the region.
Some of the players present in Asia Pacific flatbread market are California Lavash, Gruma, S.A.B. DE C.V., Kontos Foods Inc., Kronos, Associated British Foods plc, Cargill Incorporated, Barilla G. e R. Fratelli S.p.A., Aryzta AG, Rich Products Corporation, and Britannia Industries amongst the others.
The overall Asia Pacific flatbread market size has been derived using both primary and secondary source. The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the Asia Pacific flatbread market. Also, multiple primary interviews were conducted with industry participants and commentators in order to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the Asia Pacific flatbread market.