New York, April 13, 2022 (GLOBE NEWSWIRE) -- The Insight Partners published the latest research study on Precooked Corn Flour Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Product Type (Yellow Corn Flour, White Corn Flour, and Others) and Application (Bakery and Confectionery, Soup, Sauces and Dressings, RTE Meals and Foods, Extruded Snacks, and Others),” the market was valued at US$ 2,918.78 million in 2021 and is projected to reach US$ 3,953.67 million by 2028; it is expected to grow at a CAGR of 4.4% from 2021 to 2028. Factors such as growing demand for gluten-free products and rising preference for convenience food products are driving the precooked corn flour market. However, the lack of awareness regarding precooked corn flour among consumers across regions restricts the growth of the precooked corn flour market.
| Report Coverage | Details |
| Market Size Value in | US$ 2,918.78 Million in 2021 |
| Market Size Value by | US$ 3,953.67 Million by 2028 |
| Growth rate | CAGR of 4.4% from 2021 to 2028 |
| Forecast Period | 2021-2028 |
| Base Year | 2021 |
| No. of Pages | 146 |
| No. Tables | 56 |
| No. of Charts & Figures | 70 |
| Historical data available | Yes |
| Segments covered | Product Type, and Application |
| Regional scope | North America; Europe; Asia Pacific; Latin America; MEA |
| Country scope | US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Precooked Corn Flour Market: Competition Landscape and Key Developments
Major market players are adopting strategies such as mergers and acquisitions to expand their geographical presence and consumer base globally. A few key players operating in the precooked corn flour market are Archer Daniels Midland Company, Cargill Incorporated, Limagrain (Limagrain Ingredients), Agricor, Buhler, Favero Antonio SRL, Molino Peila SpA, SEMO Milling LLC, Bunge Limited, and Gruma S.A.B. de C.V.
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In 2020, Asia Pacific dominated the global precooked corn flour market and is expected to continue its dominance during the forecast period. The precooked corn flour market is influenced by rising demand for gluten-free products among health-conscious consumers in countries such as Australia, India, and Japan. Across the region, consumers are demanding for ultra-fast convenient snacking options. Additionally, the growing trend of corn-based healthy snacks such as tortilla chips, corn chips, and taco shells is increasing the demand for precooked corn flour, which is one of the main ingredients used to make such food items.
Growing Demand for Gluten-Free Food Products
Increasing cases of gluten intolerance or celiac disease are expected to boost the growth of the precooked corn flour market globally. According to the study “Global Prevalence of Celiac Disease: Systematic Review and Meta-analysis,” published in 2017, the global prevalence of celiac disease was ~1.4% of the global population. The study also stated that the prevalence of celiac disease was highest in Asia (1.8%) and lowest in Africa (1.1%). As consumers are becoming aware about celiac disease, they are preferring gluten-free products processed from corn, millets, soybean, and pseudocereals to maintain a healthy lifestyle. Moreover, precooked corn flour prepared from pure ground corn does not contain gluten. Instead of gluten, it contains hemicellulose. Thus, the growing demand for gluten-free food products is driving the precooked corn flour market growth.
Precooked Corn Flour Market Size: Segment Overview
Based on product type, the global precooked corn flour market is categorized into yellow corn flour, white corn flour, and others. In 2020, the yellow corn flour segment accounted for the largest share of the global precooked corn flour market. Yellow corn flour is made from whole dried kernels of yellow corn where the germ and bran are removed. It is mostly used as a thickener as well as in combination with other flours for baking.
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Based on application, the global precooked corn flour market is segmented into bakery and confectionery, soups, sauces and dressings, ready-to eat (RTE) meals and foods, extruded snacks, and others. The RTE meals and foods segment is expected to grow at a faster pace during the forecast period. Hectic work schedules are propelling the demand for ready-to-eat meals and foods, thereby encouraging the manufacturers on developing innovative products that would help in addressing the demand.
Impact of COVID-19 Pandemic on Precooked Corn Flour Market
During the COVID-19 pandemic, a large portion of consumers began focusing on healthier lifestyle. Consumers started substituting conventional ingredients with healthier alternatives, which, in turn, increased the demand for gluten-free products such as precooked corn flour. Moreover, the demand for ready-to-eat products propelled during COVID-19 pandemic, as it offered ease and convenience. Such factors have positively impacted on the precooked corn flour market during the pandemic.
In 2020, Asia-Pacific accounted for the largest share of the global precooked corn flour market. The demand for extruded snacks is on the rise due to the increase in disposable income and the on-the-go snacking trend among the urban population due to the hectic lifestyle. The rapidly changing lifestyle of consumers, and the change in eating habits, have been driving the extruded snacks market in Asia Pacific. The region is witnessing a rise in single-person and dual-income-no-kids (DINK) households. Long working hours drive the consumer preference toward healthy snacking options over meals, driving the demand for convenient food and on-the-go food products. The increase in demand for such food products is leading to an increased demand for precooked corn flour as it is one of the essential ingredients used in producing various snack products.
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In 2020, Asia-Pacific is the fastest-growing region in the global precooked corn flour market. Consumers in the Asia Pacific are becoming health-conscious day by day, resulting in the demand for gluten-free and organic products. Health-conscious consumers are focusing on healthy bakery products, aiding the precooked corn flour market in this region. Along with the rising popularity of Mexican cuisine, the healthier nutritional profile of tortillas has made them increasingly popular with younger populations across the region.
In 2020, the extruded snacks segment accounted for the largest market share. Extruded snacks are being widely consumed in parties, small or large gatherings, entertainment centers, and various other places. In recent years, the consumers have become more cautious about their snacking habits and are increasingly preferring healthy extruded snacks. The consumption of healthy extruded snack products is expanding the scope precooked corn flour in the extruded snacks segment.
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On the basis of application, extruded snacks is the fastest-growing segment. Extruded snacks are a type of snacking food prepared by the extrusion process. Raw materials like starch-rich materials (corn, potato flour, maize, wheat, rice, etc.) are first ground to the correct particle size, and then they are transformed into hot melt fluids or the dry mix. This mixture is passed through a pre-conditioner, in which other ingredients such as liquid sugar, fats, dyes, meats, or water are added depending on the target product. Steam is passed to start the cooking process, and the preconditioned mix is then pushed through an extruder to produce snacks.
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