Precooked corn flour is gluten-free and is an essential ingredient to make tortillas, tamales, and other Mexican dishes. The adoption of Mexican cuisine across the world is increasing the consumption of precooked corn flour.
In 2020, Asia Pacific dominated the global precooked corn flour market and is expected to continue its dominance during the forecast period. Rising awareness related to health benefits and rich nutritional profile offered by products prepared from precooked corn flour are driving the precooked corn flour market growth across the region. Additionally, rising disposable income of people and increasing applications of precooked corn flour have led to growing demand for precooked corn flour. Moreover, the rising adoption and consumption of Mexican food in countries such as Australia and India is driving the demand for precooked corn flour.
Excess gluten consumption can lead to serious health issues such as sensitivity, wheat allergy, and celiac disease. According to the World Gastroenterology Organization (WGO), celiac disease affects people of all age groups. Moreover, as per the Institute for Functional Medicine, incidences of celiac disease are increasing at 7.5% per year, with incidences highest among females and children. Increased demand for gluten-free food products is due to growing health-conscious consumers. These factors are driving the demand for gluten-free food products.
Based on product type, the precooked corn flour market is categorized into yellow corn flour, white corn flour, and others. In 2020, the yellow corn flour segment dominated the market. The increased use of yellow corn flour in bakery applications propels the demand for precooked corn flour. It is used to bake cookies due to its smooth texture and good binding characteristics. Also, minerals and vitamins in yellow corn flour promote its use across an extensive range of nutritious food products.
Major market players adopt strategies such as mergers and acquisitions and product launches to expand their geographic presence and consumer base. A few of the 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.
The “Global Precooked Corn Flour Market Analysis to 2028” is a specialized and in-depth study of the consumer goods industry with a special focus on the global precooked corn flour market trend analysis. The report aims to provide an overview of the market with detailed market segmentation. The precooked corn flour market is segmented on the basis of product type, application, and geography. Based on product type, the market is categorized into yellow corn flour, white corn flour, and others. Based on application, the precooked corn flour market is segmented into bakery and confectionery, soups, sauces and dressings, RTE meals and foods, extrudes snacks, and others. Based on geography, the precooked corn flour market is segmented into five main regions—North America, Europe, Asia-Pacific, Middle East and Africa, and South and Central America.
The regional trends and factors influencing the Precooked Corn Flour Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Precooked Corn Flour Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 2.92 Billion |
| Market Size by 2028 | US$ 3.95 Billion |
| Global CAGR (2021 - 2028) | 4.4% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Product Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Precooked Corn Flour Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Precooked Corn Flour Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
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.
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.
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.
The major players operating in the global precooked corn flour market are Archer Daniels Midland Company; Cargill, Incorporated; Limagrain (Limagrain Ingredients); Agricor; Buhler; Favero Antonio SRL; Molion Peila SpA; Gruma; S.A.B. de C.V. and SEMO Milling LLC.
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.
In 2020, the yellow corn flour segment accounted for the largest market share. Yellow corn flour is a type of corn flour that is most commonly used compared to other types of flour, such as white corn flour and blue corn flour. It is extensively used for baking cornbread or as an addition to other flours. This type of flour is also used in making tortillas, muffins, and pancakes. Yellow corn flour is slightly sweeter than white and blue corn.