Precooked Corn Flour Market Size, Share, Competitive Landscape and Trend Analysis Report, by Type, by Application, by Nature, by Distribution Channel : Global Opportunity Analysis and Industry Forecast, 2021-2031

Precooked Corn Flour Market Research, 2031

The global precooked corn flour market size was valued at $2.3 billion in 2021, and is projected to reach $3.4 billion by 2031, growing at a CAGR of 4.2% from 2022 to 2031.

The precooked corn flour market is segmented into Type, Application, Nature and Distribution Channel.

Precooked corn flour is obtained by introducing steam and water to the grounded form of maize at high temperature. This precooked form of corn flour is extensively popular in various North American, African, and Latin American nations. The precooked corn flour is used to manufacture a variety of functional foods, confectionery, and bakery products across the globe.

Precooked corn flour is completely gluten-free. A rise in the prevalence of gluten related disorders among the consumers has exponentially boosted the demand for the gluten-free food and beverages products across the globe. It is estimated that the prevalence rate of gluten related diseases is around 1% to 1.4%, globally. Celiac disease (CD) is the most common and most prevalent type of gluten related autoimmune digestive disease. The growing awareness regarding the gluten related disorders and gluten free precooked corn flour coupled with the surging penetration of precooked corn flour across the globe is expected to drive the global precooked corn flour market growth in the forthcoming future. According to Scrip.org approximately 10% restaurants in U.S. offers gluten-free menu to attract 22% of gluten-free food preferring customers. Also, the number of gluten free food items in their menu is increased from 9% to 24% during the year 2012-2018. This has led to an increase in the demand for precooked corn flour, as it is a popular gluten-free ingredient. The demand for the precooked corn flour is also projected to rise significantly owing to the rising demand for the gluten free bakery products and breads among the global consumers. The ability of the precooked corn flour to add gluten like texture or viscoelastic properties to the bakery and other food products is making the precooked corn flour a popular substitute for making gluten-free food products.

The fueling demand for the convenience food i.e. ready-to-eat (RTE) and ready-to-cook food items among the millennial population is gaining a rapid traction. The rising penetration of packaged and processed food products in the developed and developing nations is offering a lucrative growth opportunity to the precooked corn flour manufacturers across the globe. There is a huge demand for precooked corn flour in food processing industry for the manufacturing of different food & beverage products such as breakfast cereals, sauces, soups, dressings, bakery products, infant formula, pasta, noodles, and extruded products. The rising disposable income of the consumers, rising participation of women in workforce, changing consumption pattern, shift towards busy and hectic lifestyle, and increasing consumer expenditure on functional food are the most prominent factors that are expected to boost the demand for the convenience food among the consumers, which will subsequently have a positive and significant impact on the growth of the global precooked corn flour market during the forecast period.

The Mexican food is gaining immense popularity among the consumers globally which is driving the growth of precooked corn flour market. The Mexican food is considered as one of the healthiest cuisines that is rich in fiber 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 flavors, colors, and textures in Mexican dishes is one of the reasons for their popularity. One of the key ingredients in Mexican cuisine is precooked corn 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 precooked corn flour market.

However, the fluctuating prices of raw material is a matter of concern among the precooked corn flour manufacturers. Precooked corn flour is a type of corn flour that has been partially or fully cooked. It is a convenient and easy-to-use product that has many applications in the food industry. However, the high cost of raw material restrains the market of precooked corn flour. The cost of corn, the main raw material used in the production of precooked corn flour, has been steadily increasing in recent years. This has made precooked 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 per bushel which is at all-time high. As the cost of the raw material increasing which in turn acting like a burden to the pockets of the consumers and is restraining the growth for the precooked corn flour market.

According to the precooked corn flour market analysis, the market is segmented based on type, application, nature, distribution channel, and region. Based on type, it is segregated into white, yellow, and blue. Depending on the application, the market is segmented into household and commercial. The commercial segment is further divided into food processing and food service. On the basis of nature, the market is bifurcated into organic and conventional. Depending on the distribution channel, it is segmented into B2C and B2B. Region-wise, the precooked corn flour market is analyzed across North America, Europe, Asia-Pacific, and LAMEA (Latin America, Middle East, & Africa).

As per the precooked corn flour market trends, based on the type, the white segment dominated the market in 2021 with 64.1% of the precooked corn flour market share and is expected to sustain its dominance throughout the forecast period. The white precooked corn flour is easily available in the North America and Latin America, the two huge consumers of precooked corn flour. The presence of dominating precooked corn flour brand like P.A.N, Bob’s Red Mill, Great River, and King Arthur in the Latin and North America has significantly contributed to the growth of the white precooked corn flour market in the past few years. Furthermore, 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 white precooked corn flour market growth across the globe.

According to the precooked corn flour market forecast, based on application, the commercial is expected to dominate the global market during the forecast period. This growth is attributed to the huge consumption of precooked corn flour in the preparation of various packaged food items such as RTE food products, packaged and processed food, infant formula, bakery products, extruded food, and confectioneries in food processing industry. Moreover, the demand for the precooked corn flour is extremely rising in the food service industry owing to the rising applications of precooked corn flour in making various cuisines/dishes, pasta, soups, noodles, and flatbreads. Furthermore, the rising number of HoReCa (hotels, restaurants, and cafes) units across the developing and developed economies is anticipated to drive the precooked corn flour market demand in the foreseeable future.

Depending on the nature, the organic is expected to be the fastest-growing segment during the forecast period. In the recent years, there has been a significant increase in demand for natural and organic products. This has been driven by consumers' increasing awareness of the health and environmental benefits of these products. Organic precooked corn flour is made from the organically produced corn i.e. without the use of chemical fertilizers and pesticides or any other artificial ingredients. The increase in demand for natural and organic products is the major factor driving the growth of the precooked corn flour market. According to U.S. Department of Agriculture in the year 2019, in India the organic food and beverages retail sales reached to $69 million and in 2020, the European organic food market increased by 15% to $52.5 billion. Germany and France remained the largest contributor and contributed 60% to the market share of organic food market. Furthermore, according to the Organic Trade Association in the year 2020-21, organic revenues exceeded $63 billion, with total annual growth of $1.4 billion. Food sales, which accounted for more than 90% of organic sales, reached $57.5 billion (approximately 2% growth from 2019) and non-food sales reached $6.0 billion (7% growth) in U.S.

As per the precooked corn flour market forecast, based on the distribution channel, the B2B segment is expected to remain dominant during the forecast period. This is due to the huge demand for the commercial precooked corn flour among the food service and food processing industries. The presence of huge number of precooked corn flour producers and the surging demand for it in the food and beverages industry has led to the significant growth of the B2B segment in the market. Moreover, the rising popularity of the online B2B market places such as India Mart, Alibaba, eWorld Trade, Global Sources, Amazon Business, and Just Dial is expected to have a significant positive impact on the growth of the precooked corn flour market in the upcoming future. The availability of precooked corn flour in huge volumes and at reasonable prices has led to the rapid growth of the B2B segment in the global precooked corn flour industry.

Region-wise, Asia-Pacific is expected to be the fastest-growing market, witnessing a CAGR of 4.8% during the forecast period. The Asia-Pacific region is the world’s most populous continent and home to some of the fastest-growing economies. The major factors driving the market growth are the rise in demand for processed and convenience food, and the change in consumer lifestyle. The region has the largest number of working populations, and the rise in disposable incomes has led to a change in consumer lifestyle. According to National Library of Medicine (NLM) National Center for Biotechnology Information (NCBI) the China and the U.S. are the two largest corn consumers. In the year 2020, the consumption of corn in China reached to 279 million tons, increase of 2 million tons from the previous year. Also, according to the UN Comtrade the import of corn in China in the year 2020 was 11.3 million tons, a yearly increase of 135.73% which is showing an uptrend in import. The consumers in the region are now opting for processed and convenience food, which has, in turn, increased the demand for precooked corn flour.

The major players operating in the global precooked corn flour industry includes Archer Daniels Midland Company, Bob's Red Mill, Bunge limited, Cargill, Incorporated, Empresas Polar Inc., Goldmine natural foods, Goya Foods, Inc., Harinera Del Valle, LifeLine Foods LLC., Molino Peila SpA, Arcor Group, Cool Chile Co., Garnec, LLC., Gruma, and The Quaker Oats Company. These market players are constantly engaged in the various developmental strategies such as acquisitions, mergers, and product launches to exploit precooked corn flour market opportunities and gain precooked corn flour market share.

Key Benefits For Stakeholders

• This report provides a quantitative analysis of the precooked corn flour market size, segments, current trends, estimations, and dynamics of the precooked corn flour market analysis from 2021 to 2031 to identify the prevailing precooked corn 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 precooked corn 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 precooked corn flour market trends, key players, market segments, application areas, and market growth strategies.

  Precooked Corn Flour Market Report Highlights

Aspects	Details
By Type	White Yellow Blue
By Application	Household Commercial Sub Type Food Processing Food Service
By Nature	Organic Conventional
By Distribution Channel	B2C B2B
By Region	North America  (U.S., Canada, Mexico) Europe  (UK, Rest Of Europe, Germany, France, Italy, Spain) Asia-Pacific  (China, Japan, India, Australia, South Korea, Rest Of Asia-Pacific) LAMEA  (Brazil, Saudi Arabia, South Africa, Rest Of Lama)
Key Market Players	Arcor Group, Harinera Del Valle, Cool Chile Company, Archer Daniels Midland Company, Goldmine Natural Foods, Bunge Limited, Bob's Red Mill, The Quacker Oats Company, LifeLine Foods LLC, Goya Foods, Inc., Gruma, Molino Peila SpA, Garnec, LLC, cargill, inc., Empresas Polar, Inc.

Analyst Review

Based on the insights of the top CXOs, the precooked corn flour 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 precooked corn flour, growing food processing and food service industries, and rising number of restaurants and hotels in the region. Moreover, the nations like U.S., Brazil, Argentina, and India are among the top producers of corn/maize in the globe that ensures sufficient supply of raw materials to the manufacturers of precooked corn flour. These nations approximately accounts for around 68% to 70% of the global corn exports.

However, the ongoing tensions between Russia and Ukraine, may lead to a significant rise in the prices of corn. Ukraine accounts for around 12.4% of the global corn exports as it is a leading producer of corn in Europe. The Russian invasion of Ukraine has destroyed the corn production and exports significantly that may result in shortage of corn supply and a significant increase in the prices of corn in Europe in the upcoming years. Therefore, the shortages of supply of corn in Europe and rising pressure on the food supply chain is expected to have a negative impact on the precooked corn flour market in Europe.

Author Name(s) : Dinesh Thakur | Roshan Deshmukh

Related Tags

• Ready To Cook
• Functional Ingredients
• Nutritional Ingredients
• Specialty Ingredient