Flour Milling in the US - Market Research Report (2014-2029)
New York, United States
Last Updated: February 2024
NAICS 31121Revenue
$22.2bn
Past 5-Year Growth
Profit
$X.Xbn
Employees
20,347
Businesses
518
Wages
$X.Xbn
Flour Milling in the US industry analysis
The Flour Milling industry manufactures milled products, including various flours, rice and malt. Despite a significant shift away from wheat flour consumption, demand for products has grown as rising health consciousness has driven consumers toward gluten-free and whole-grain foods. Also, the pandemic sparked a trend in at-home baking, attracting more consumers. At the same time, the price of certain input commodities has increased in recent years, raising operational costs. Imports into the Flour Milling industry have also risen. Overall, revenue is expected to inch up at a CAGR of 0.4% to $22.2 billion over the five years to 2024, despite a 2.9% dip in 2023 alone. Profit, meanwhile, remained relatively stagnant during the same timeframe, representing an estimated 6.9% of revenue in 2024.
Trends and Insights
- Changing consumer preferences have strengthened demand for gluten-free products. This has hindered the wheat product segment but has benefited other product segments in the industry.
- The trend of more health-conscious consumers has led to the growing popularity of gluten-free products. This has negatively impacted the wheat product segment.
- Locating near suppliers can reduce transportation costs for flour mill operators. Also, it allows flour milling companies to negotiate supply contracts.
- Operators compete primarily on price. Price is directly related to a good’s perceived quality, resulting in price being a critical competitive factor.
Industry Overview
Market size and recent performance (2014-2029)
Industry revenue has grown at a CAGR of 0.4 % over the past five years, to reach an estimated $22.2bn in 2024.
Trends and Insights
Gluten-free products have shifting consumer preferences
- Shifting consumer tastes and preferences have threatened the industry's growth as per capita wheat flour consumption declined. Rising public concern regarding gluten and increased commodity prices have constrained demand for wheat flour products. While rising health consciousness hinders demand for wheat flour products, it has also encouraged consumers to purchase gluten-free products.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
Input prices and health trends may change flour mill operators' strategies
- Less volatile raw material prices will enable flour mill operators to anticipate commodity costs and adjust their selling prices accordingly. The world price of wheat and gluten-free commodities, such as corn, is expected to change only slightly over the next five years. While the world price of wheat is expected to inch up over the next five years, the world price of corn is anticipated to inch downward.
Biggest companies in the Flour Milling in the US
| Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
|---|---|---|---|---|
Ardent Mills, Llc | 3,702.9 | 371.6 | 10.0 | |
Archer-Daniels-Midland Co | 1,850.8 | 82.5 | 4.5 | |
Riceland Foods, Inc. | 1,172.4 | 79.2 | 6.8 |
To view the market share and analysis for all 3 top companies in this industry, view purchase options.
Products & Services Segmentation
Source: IBISWorld
Industry revenue is measured across several distinct product and services lines, including Wheat products, Corn products and Other. Wheat products is the largest segment of the Flour Milling in the US.
Trends and Insights
Wheat is negatively impacted by the growing popularity of gluten-free products
- Wheat products are the largest product segment in the industry. The industry offers a variety of wheat products derived from grain, including flour, meal, bran sharps and other products like groats. Some flour mills have expanded their product lines by producing flour mixes and dough in-house and most flour mills specialize in producing basic, unmixed flour.
- More insights available in the full report
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Competitors
- Seasoning, Sauce and Condiment Production in the US
- Soft Drink, Baked Goods & Other Grocery Wholesaling in the US
Complementors
- Cereal Production in the US
- Bread Production in the US
- Cookie, Cracker & Pasta Production in the US
International industries
- Flour Milling in Canada
- Flour and Grain Mill Product Manufacturing in Australia
- Grain Milling in the UK
- Malt Manufacturing in the UK
Table of Contents
About this industry
Industry definition
Companies in this industry participate in the following activities: milling grains and vegetables into flour; cleaning, polishing and milling rice; and producing malt from various cereal grains. Flour milling companies purchase grain inputs, including wheat, corn, barley and rice, from wholesalers or growers directly. Companies then convert these inputs into flour, gluten, cereal groats and malt and sell such products to grocery wholesalers or other food-related industries.
What's included in this industry?
Producing flour from wheatProducing flour from cornProducing flour mixes from a variety of grain cropsMilling rough riceProducing malt from a variety of cereal grainsProducing meal and animal feedCompanies
Ardent Mills, LlcArcher-Daniels-Midland CoRiceland Foods, Inc.Purchase this report to view all 3 major companies in this industry.
Related Terms
RICE MILLINGDURUM WHEATMALTWHOLESALE BYPASSVERTICAL INTEGRATIONIndustry Code
NAICS 31121 - Flour Milling in the US
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
Changing consumer preferences have strengthened demand for gluten-free products. This has hindered the wheat product segment but has benefited other product segments in the i...
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2014-2023) and forecast (2024-2029)
- Employees, including historical (2014-2023) and forecast (2024-2029)
- Businesses, including historical (2014-2023) and forecast (2024-2029)
- Profit, including historical (2014-2024)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
The trend of more health-conscious consumers has led to the growing popularity of gluten-free products. This has negatively impacted the wheat product segment.
In this chapter
- Products & Services
- Major Markets
- International Trade
Key metrics
- Largest market segment and value in 2024
- Product innovation level
- Total imports, level and trend
- Total exports, level and trend
- Trade Balance
Charts
- Products & services segmentation in 2024
- Major market segmentation in 2024
- International trade, including imports by country and exports by country
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
- Recent trends in import and export volumes, country of origin or destination, and expected future trends
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
Locating near suppliers can reduce transportation costs for flour mill operators. Also, it allows flour milling companies to negotiate supply contracts.
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each state
- Share of population compared to establishments in each region in 2024
Tables
- Number and share of establishments in each state in 2024
- Number and share of revenue each state accounts for in 2024
- Number and share of wages each state accounts for in 2024
- Number and share of employees in each state in 2024
Detailed analysis
- Geographic spread of the industry across North America, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
Operators compete primarily on price. Price is directly related to a good’s perceived quality, resulting in price being a critical competitive factor.
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2019-2024
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
Large flour milling companies continue their efforts to acquire smaller competitors or complete mergers. Expanding operations can create economies of scale, lowering costs an...
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2020 through 2024
- Major companies in the industry, including market share, revenue, profit and profit margin in 2024
- Overview of Ardent Mills, Llc's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Archer-Daniels-Midland Co's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Riceland Foods, Inc.'s performance by revenue, market share and profit margin from 2018 through 2024
Detailed analysis
- Description and key data for Ardent Mills, Llc, and factors influencing its performance in the industry
- Description and key data for Archer-Daniels-Midland Co, and factors influencing its performance in the industry
- Description and key data for Riceland Foods, Inc., and factors influencing its performance in the industry
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
Flour mill operators must comply with a wide range of labeling rules. The Food and Drug Administration enforces these regulations.
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2014-2029)
- Assistance historical data and forecast (2014-2029)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
Flour mill companies have had to deal with input commodity price volatility. Operators have been able to pass these costs down to consumers and grow profit.
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Investment vs. share of economy
Data tables
- Industry Multiples (2017-2022)
- Industry Tax Structure (2017-2022)
- Income Statement (2017-2022)
- Balance Sheet (2017-2022)
- Liquidity Ratios (2017-2022)
- Coverage Ratios (2017-2022)
- Leverage Ratios (2017-2022)
- Operating Ratios (2017-2022)
- Cash Flow & Debt Service Ratios (2014-2029)
- Revenue per Employee (2014-2029)
- Revenue per Enterprise (2014-2029)
- Employees per Establishment (2014-2029)
- Employees per Enterprise (2014-2029)
- Average Wage (2014-2029)
- Wages/Revenue (2014-2029)
- Establishments per Enterprise (2014-2029)
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2014-2029)
- IVA (2014-2029)
- Establishments (2014-2029)
- Enterprises (2014-2029)
- Employment (2014-2029)
- Exports (2014-2029)
- Imports (2014-2029)
- Wages (2014-2029)
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in the US include:
- US Census Bureau
- US Bureau of Labor Statistics
- US International Trade Commission
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Flour Milling in the US industry in United States in 2024?
The market size of the Flour Milling in the US industry in United States is $22.2bn in 2024.
How many businesses are there in the Flour Milling in the US industry in 2024?
There are 518 businesses in the Flour Milling in the US industry in United States, which has declined at a CAGR of 0.2 % between 2019 and 2024.
Has the Flour Milling in the US industry in United States grown or declined over the past 5 years?
The market size of the Flour Milling in the US industry in United States has been growing at a CAGR of 0.4 % between 2019 and 2024.
What is the forecast growth of the Flour Milling in the US industry in United States over the next 5 years?
Over the next five years, the Flour Milling in the US industry in United States is expected to grow.
What are the biggest companies in the Flour Milling in the US market in United States?
The biggest companies operating in the Flour Milling market in United States are Ardent Mills, Llc, Archer-Daniels-Midland Co and Riceland Foods, Inc.
What does the Flour Milling in the US in United States include?
Producing flour from wheat and Producing flour from corn are part of the Flour Milling in the US industry.
Which companies have the highest market share in the Flour Milling in the US in United States?
The company holding the most market share in United States is Ardent Mills, Llc.
How competitive is the Flour Milling in the US industry in United States?
The level of competition is high and steady in the Flour Milling in the US industry in United States.
