The Global Precooked Corn Flour Market Size is valued at 2.43 billion in 2022 and is predicted to reach 3.76 billion by the year 2031 at 5.17% CAGR during the forecast period for 2023-2031.
Precooked corn flour can be made by adding steam and water to the ground form of maize at a high temperature. This maize flour that has already been cooked is well-liked in many North American, African, and Latin American countries. Around the world, functional foods, confections, and bakery goods are produced using precooked corn flour. Gluten is not present at all in precooked corn flour.
The demand for gluten-free foods and beverages has skyrocketed due to an increase in the prevalence of gluten-related illnesses among consumers. The most important factors anticipated to increase the demand for convenience food among consumers are rising consumer disposable income, rising participation of women in the workforce, changing consumption patterns, shifting towards a busy and hectic lifestyle, and increasing consumer expenditure on functional food. These factors will subsequently have a positive and significant impact on the growth of the global precooked corn flour market during the forecast period.
The market for precooked corn flour still needs to be constrained by the high cost of raw materials. The price of corn, the primary raw material needed to make precooked corn flour, has been rising substantially in recent years. As a result, buyers now find precooked corn flour more expensive, slowing the market's expansion.
Recent Developments:
- In December 2020, Empresas Polar updated and unveiled a new logo. The redesign kept the distinctive components of the brand while adding a fresh appearance to complement the company's international expansion. The brand's social media profiles and the All In One PAN digital platform will also run campaigns to advertise the new logo.
- By 2020, Goya Foods, Inc. will expand its manufacturing and distribution plant. Through this expansion, the business installed cutting-edge equipment to boost output and satisfy the rising demand for pre-cooked flour.
Competitive Landscape:
Some of the major key players in the Precooked Corn Flour Market are:
- Archer Daniels Midland Company
- Arcor Group
- Bob's Red Mill
- Bunge Limited, cargill, inc.
- Empresas Polar, Inc.
- Goldmine Natural Foods
- Goya Foods, Inc.,
- Harinera Del Valle
- LifeLine Foods LLC
- Molino Peila SpA, Gruma
- Cool Chile Company
- Garnec LLC
- The Quacker Oats Company
Market Segmentation:
The precooked corn flour market is segmented into type, application, nature, and distribution channel. The market is segmented based on type: white, yellow, and blue. Based on application, the market is segmented into household and commercial. Based on nature, the market is segmented into organic and conventional. Based on the distribution channel, the market is further segmented into B2C and B2B.
Based on application, the commercial segment is a major contributor to the precooked corn flour market.
prediction, the commercial is anticipated to rule the global market during the forecast period. Precooked corn flour is used extensively in the food processing industry to make various packaged foods, including RTE food, packaged and processed food, infant formula, bakery products, extruded food, and confectioneries. Furthermore, precooked maize flour is in high demand in the food service sector due to its expanding use in preparing pasta, soups, noodles, and flatbreads, among other foods and meals. Furthermore, it is predicted that demand for precooked corn flour will increase shortly due to the growing number of HoReCa (hotels, restaurants, and cafés) units in both established and emerging economies.
The B2B segment witnessed growth at a rapid rate
Based on the distribution channel, the B2B category is anticipated to maintain its dominance during the projection period. This is because the food service and processing industries have a high demand for commercial precooked corn flour. The market's B2B segment has grown significantly as a result of the abundance of producers of precooked corn flour and the soaring demand for it in the food and beverage sector. Further, the expansion of the precooked corn flour market is anticipated to benefit greatly from the growing popularity of online B2B marketplaces like India Mart, Alibaba, eWorld Trade, Global Sources, Amazon Business, and Just Dial shortly.
The Asia Pacific precooked corn flour market holds a significant revenue share in the region
Asia-Pacific is anticipated to experience the fastest growth during the forecast period. The most populous continent in the world and one that has some of the fastest-growing economies in the Asia-Pacific region. The increase in demand for processed and convenience foods and the shift in consumer lifestyle are the main drivers of market expansion. Most working people are concentrated in this area, and the improvement in disposable incomes has brought about a shift in purchasing habits. In addition, due to the use of precooked corn flour in traditional food products and the prevalence of gastrointestinal disorders brought on by the consumption of gluten or products containing gluten, which tends to steer consumers toward precooked flours that are healthy and gluten-free, North America dominates the precooked corn flour market.
Precooked Corn Flour Market Report Scope:
|
Report Attribute |
Specifications |
|
Market size value in 2022 |
USD 2.43 billion |
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Revenue forecast in 2031 |
USD 3.76 billion |
|
Growth rate CAGR |
CAGR of 5.17% from 2023 to 2031 |
|
Quantitative units |
Representation of revenue in US$ Million, and CAGR from 2023 to 2031 |
|
Historic Year |
2019 to 2022 |
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Forecast Year |
2023-2031 |
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Report coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
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Segments covered |
Type, Application, Nature, and Distribution Channel |
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Regional scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; Southeast Asia; South Korea; Southeast Asia |
|
Competitive Landscape |
Archer Daniels Midland Company, Arcor Group, Bob's Red Mill, Bunge Limited, cargill, inc., Empresas Polar, Inc., Goldmine Natural Foods, Goya Foods, Inc., Harinera Del Valle, LifeLine Foods LLC, Molino Peila SpA, Gruma, Cool Chile Company, Garnec, LLC and The Quacker Oats Company |
|
Customization scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing and available payment methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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