Maize Flour Market Research, 2031
The global maize flour market was valued at $32.7 billion in 2021, and is projected to reach $51 billion by 2031, growing at a CAGR of 4.6% from 2022 to 2031.
Maize flour, also known as corn flour in some regions of the globe, is derived from the ground and desiccated seeds of maize or corn plant. Vast majority is made of yellow and white maize flour. Maize flour is healthier and tastier as compared to other flours. In addition, it is suitable for patients with high cholesterol as it has been shown to have an anti-atherogenic effect on cholesterol levels, which reduces the risk of various cardiovascular diseases. Maize flour is available for both household and commercial use with various packing of different size and shape.
The COVID-19 pandemic disrupted the food & beverage industry all across the globe. Consumers' buying behavior has changed by their perception of the risk associated with COVID-19. To reduce the risk of infection, consumers preferred online services for acquiring daily essentials. As a result, buying foods from restaurants and hotels was discouraged. Global trade restrictions, on the other hand, put strain on regional economy. The closure of restaurant and food chains further caused setbacks to the market.
In long term, as the situation begins to stabilize, consumers are focusing on appropriate solutions for food items made up of maize flour. Maize flour firms are rethinking their strategy, rationalizing their product lines, and evaluating the robustness of their supply chains and route-to-market networks. E-commerce and distribution networks should be simplified and optimized as consumers have shifted towards online shopping during the ongoing pandemic. Manufacturing companies will be looking to set up their business into an omnichannel to cater to the market demand and increase their sales.
Consumer preference toward food is changing, and preference for nutritionally enriched is increasing as people are now more concerned about their health. Such concern is proving as a factor in the growth of the maize flour market. Along with this increasing demand for pasta which is made up of different flours will also have a positive effect on the maize flour market. People restricting themselves from having gluten-contained products can hinder the growth of the market whereas players in the market are focusing on gluten-free maize flour to overcome this situation.
The maize flour market size is expected to grow at a rapid pace owing to rising interest in nutritionally enriched products since the rise in health consciousness among consumers is simultaneously increasing the concerns regarding what food & beverages should be consumed. Most consumers prefer healthy and nutritionally enriched foods as they help meet their dietary needs and prevent a number of diseases. Due to a huge increase in awareness about wellbeing and fitness among the population, there is a huge rise in the demand of for healthy products. Products made up of maize flour are very popular as they provide a superior taste with nutrients. Along with this rise in the demand for Mexican cuisine is also one of the maize flour market trends since Mexican food is gaining immense popularity among consumers globally which is driving the growth of the maize flour industry. Mexican food is considered one of the healthiest cuisines that are rich in fibre and protein. It is not only famous in Mexico but also in the United States and Europe. The cuisine has a rich history and is a blend of different cultures, including indigenous, Spanish, and French. The variety of flavours, colours, and textures in Mexican dishes is one of the reasons for their popularity. One of the key ingredients in Mexican cuisine is maize flour, which is used to make tortillas, tamales, and other dishes. According to Foodexport.org Mexico is the world’s 11th largest food processing industry and in America, it is 3rd largest after the US and Brazil. The increase in the number of Mexican restaurants globally is one of the major factors that are driving the growth of the maize flour market growth.
The high cost of raw materials may affect the growth of the maize flour industry as the cost of corn, the main raw material used in the production of corn flour, has been steadily increasing in recent years. This has made corn flour less affordable for consumers, resulting in a slowdown in market growth. According to the United States Department of Agriculture National Agricultural Statistics Service, the price of corn for June 2022 is 7.37 dollars per bushel which is at an all-time high. As the cost of the raw material increases which in turn acts like a burden to the pockets of the consumers and is restraining the maize flour market growth.
The rise in demand for gluten-free products can be a great maize flour market opportunity for the growth of maize flour market demand as gluten-contained food products demand is decreasing since it is not as healthy as compared to gluten-free So it’s a great time for gluten-free products market to grow as demand for it is going to increase with time therefore gluten-free food products will be the substitute for consumers. As per the National Library of Medicine, the demand for gluten-free products has experienced a dramatic increase and dedicated shelf space for it in the supermarkets which shows the increasing interest of consumers in such products. Such factors provide lucrative opportunities for gluten-free products such as maize flour to enter and grow the maize flour market size.
The global maize flour market analysis is segmented on the basis of product type, end-user, distribution channel, and region. Depending on product type, it is classified into yellow and white. As per the end user, the maize flour market forecast is classified into commercial and household. According to distribution channels, it is divided into hypermarkets/supermarkets, convenience stores, online retail and others. Region-wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, the UK, France, Italy, and the rest of Europe), Asia-Pacific (China, Indonesia, India, and the rest of Asia-Pacific), and LAMEA (Brazil, Argentina, South Africa, and the rest of LAMEA).
On the basis of product type, the white maize flour market share is the highest in global market in 2021 and is expected to be dominant during the forecast period to grow with a CAGR of 4.2%. The rising popularity of Mexican cuisine, rising prevalence of gluten related diseases among the population, surging awareness regarding the health benefits of gluten-free flour, and rising consumption of functional food are some of the major factors that are expected to be the significant drivers of the segment. Yellow maize flour is expected to grow at a higher CAGR since it is a key ingredient for making various products such as cookies, baking mixes, breakfast cereals, pasta, and snacks in the food processing industry.
According to the end users, the maize flour market size is segmented into commercial and household. Among these, the commercial segment has the highest maize flour market share with $18541.3 million and is expected to dominate throughout the forecast period at a CAGR of 5.0% %.
On the basis of the distribution channel, others have the highest maize flour market share the market in 2021 since maize flour is sold more in retail shops, grocery stores, and departmental stores due to the availability of such stores at almost every location.
Region-wise, North America dominated the global market in 2021 and is expected to be dominant during the forecast period. The dominance in the market is largely due to the existence of a large population base with high disposable income as with increasing disposable income dine-out trend will increase and more people can afford maize flour. . Along with this growing concern of people towards health and rising interest towards cooking will also help North America to dominate the market.
The players operating in the global maize flour market have adopted various developmental strategies to expand their market share, increase profitability, and remain competitive in the market. The key players profiled in this report include Andersons Food, Archer Daniels Midland, Cargill, Bunge, Grain Millers, Gruma, North Dakota Mill, Limagrain, Bob’s Red Mill, and Empresas Polar Inc.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the maize flour market analysis from 2021 to 2031 to identify the prevailing maize flour market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the maize flour market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global maize flour market trends, key players, market segments, application areas, and market growth strategies.
Maize Flour Market Report Highlights
By Distribution Channel
Key Market Players
bob's red mill, empresas polar, Archer Daniels Midland, grain millers inc., groupe limagrain, Bunge, Andersons Food, cargill, gruma, North Dakota Mill
The global maize flour consumption in 2021 was valued at around $32 billion, and it is anticipated to increase to $50 billion by the end of 2031. The market is expected to witness a significant increase in demand in the North America, Latin America, and Asia-Pacific region in the upcoming years, owing to the rising population, increasing awareness regarding the gluten-free maize flour, growing food processing and food service industries, and rising number of restaurants and hotels in the region.
High-income nations' daily per capita consumption of maize flour is a factor in the growth of the market at a rapid pace whereas low- and middle-income countries' maize flour consumption is likely to rise slowly in comparison to high-income countries. Consumption of maize flour will increase at a rapid pace in low-income level groups as compared to high-income groups with the increase in disposable income as the low-income population can now afford maize flour. In the high-income groups, consumption of maize flour will increase with the increase in concern towards health. There will be more growth in the online distribution channel. Along with all these, the increase in the demand for ready-to-cook food will also fuel the market.