Corn Flour Market size is
expected to witness growth owing to increasing demand for healthy and
nutritious food products. Demand for corn-based nutritious snacks includes,
tortilla chips, nachos and taco shells in turn will boost the product market.
Convenience food in another key indicator fuelling the market growth. Upsurge
in demand for gluten free products in health-conscious customers has raised the
demand for corn flour built bakery items.
Rising demand of pasta and soups
have increased the consumption of maize flour meanwhile, accelerating the corn
flour market. It is also used in numerous ready to eat and ready to cook
products, which will propel the market size. This change is now heading the
escalating demand for single-chunk and healthy snack products. Corn flour
market is anticipated to witness a high rise over the forecasted years owing to
countless health gains of maize.
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Shifting customer preferences on
healthy snacks and food products will reinforce the market. Several health
benefits linked with maize will augment the corn flour market. Consumption of
maize improves bone strength, kidney functioning, normal heart rate, maintain
good bone health and regulate normal growth attributed to presence of minerals
including magnesium, iron, manganese, copper, phosphorus and zinc. It also
helps in controlling blood sugar level in both type of diabetes. All of the
above factors will boost the product demand among health conscious customers
which in turn will drive the industry growth.
Corn flour used as common staple
food and is derived from grinding of dried maize. It arrives in white and
yellow colour and is used in preparing several bakery products including
breads, rolls mixing it with other flours. It is also used in preparing maize
starch and healthy pet foods. Also, it is used as alternative for wheat and
rice or as a gluten free product by mixing it with wheat.
On the basis of distribution
channels, corn flour market is divided into hypermarkets / supermarkets, retail
shops and online market. Among these, hypermarkets / supermarkets holds major
market share. However, online retailing is expected to rise at high CAGR over
the forecasted period.
Based on its application, corn
flour market is segmented into breakfast cereals, snack food industries,
confectionery and biscuits industry, breweries and bakery industry. Amongst,
bakery industry holds a major market share, however, upsurge in demand for
snacks in consumers will drive the product market.
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North America, dominated the corn
flour market and is likely to witness the same in the forecasted years. Use of
product item in manufacturing tortilla chips and other bakery & snack
products is one of the major key driver for increasing demand in the region.
Also, it contains high level of corn starch which helps substantially in
preparing extruded snack products and processed food where maize flavour is
preferred. Another major factor for growth of product market in the region is
increasing Hispanic groups and rising demand for product based food items
across the U.S. Moreover, increasing population and escalating numbers of
restaurants will fuel the market growth in the region.
Europe region is the leading corn
flour market and will observe healthy growth over the forecasted years. Germany
and UK holds a major portion in the product market for growing consumption of
pasta, soups and other confectionery products. Development of bakery industry
in some of the countries including France, Italy and Netherlands among other
nations will have propel the industry growth over the forecasted period in the
region.
Asia-pacific, corn flour market
is developing strong and will be the fastest growing market anticipating a high
CAGR. Increasing population, rising spending capacity on staple food, high
demand for fast food and escalating disposable income in consumers are major
factors for future growth in the region. Easy availability of raw materials in
some the regional countries including India and China will further reinforce
the market over the forecasted years coupled with high consumption of staple
food and gluten free food products will be driving the market significantly.
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Global corn flour market is
highly diversified and competitive in nature owing to presence of large number
of local and international manufacturers, globally. Also, numerous producers of
corn flour have made a huge production facilities available in several
countries. Some of the leading market players identified are Bunge, BASF,
Cargill, Gruma, Clariant, Solvay, Grain Millers, Evonik and Glen Miller. Some
other key vendors present in the market are W.R. Grace, Buffaloe Milling, Minsa
Corp, C.H Guenther and sons, Grupo Bimbo, Shaff Farms, SEMO Milling and
Ingredion Lifeline Foods.
Product market is witnessing a
strong competition, globally. Many market players are acquiring or merging with
small and large manufacturers to sustain in this competitive market.
In 2017, Bunge, a North American
company acquired Grupo Minsa a leading company in corn flour market. This
acquisition will broaden their product portfolio and other premixes for
tortillas.
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