Precooked Corn Flour Market

Precooked Corn Flour Market Size, Growth (2023-2028)

Precooked Corn Flour Market size was worth US$ 2.4 billion in 2022, and it is estimated that it will reach US$ 3.6 billion by 2028 with an annual expansion rate of 4.4% between 2023 and 2028.

Market Overview:

As its name suggests, precooked corn flour is obtained from precooked cereals or by hydrothermal extrusion of cereals, corn or other sauces. Precooked cornmeal is mainly used in bakery products, home cooking, meat products, fast food, and soup making. Because precooked cornmeal is gluten-free, foods made from flour are consumed primarily by people with celiac disease. When corn is soaked in lime, niacin and calcium are infused, making it easier for the body to digest and giving the flour a unique flavor. This flour is rich in calcium and B vitamins. Precooked corn flour is also used in regional cooking preparations and at home to prepare regional dishes such as Latin America to prepare tortillas, a traditional Latin American dish. Precooked cornmeal has been found to provide a better texture and sensory experience than regular products in many cases due to the technique by which precooked corn flour is processed.

Recent Developments in Precooked Corn Flour Industry:

• In August 2018, Corn Squash Brand P.A.N. Kicks Off North America's First Food Truck Tour to Introduce Arepa to U.S. Consumers.
• In April 2016, Bunge Ltd. decided to launch a non-GMO corn-based product at a corn plant in Nebraska and increase production.

Precooked Corn Flour Market Growth:

The growing trend of healthy snacks has led manufacturers to develop new pre-cooked corn flour products on the market, resulting in several growth opportunities in the international marketplace.

REPORT COVERAGE:

Drivers:

The growing demand for gluten-free foods and a growing preference for prepared foods are key factors driving the growth of the global precooked corn flour market. North America had the largest market share in the entire market. Also, the introduction of organic and non-GMO precooked cornmeal to the market provides growth opportunities for key players operating in the global precooked cornmeal market. More and more manufacturers are developing food products that give food preparation a unique texture and flavor. These innovations have expanded the reach of these foods in the food and beverage industry. Manufacturers of precooked cornmeal are active around the world and regularly launch new products to attract and retain consumers in a highly competitive environment. As the demand for healthy and nutritious prepared foods increases in developed and developing countries such as the United States, Canada and Mexico, the demand for precooked corn flour is expected to increase in the region. Increased demand for healthy soups and pasta that use precooked cornmeal as a healthy alternative to flour is a key factor expected to drive demand for precooked corn flour in North America during the forecast period. The demand for precooked cornmeal has been approved as the demand for healthy corn-based snacks such as corn chips, corn chips, taco leaves and a variety of other popular products has increased. Precooked corn flour has been crucial in this development because fast food chains are using bread that is prepared from this flour.

Urbanization has led to a consumer base that prefers bakeries and fast-food products, the demand for which increases every day despite the perception of the adverse effects of fast food. The pace of urbanization has increased around the world and modern food culture is evolving accordingly. An increase in urbanization indicates an increase in the use of precooked corn flour at homes. This increase in demand is much greater in developing countries due to high rates of urbanization and rising per capita income. Precooked cornmeal contains nutrients and is available in a variety of varieties. Corn and its products are considered healthy to consume. The rapidly increasing incidence of celiac disease has led to a preference for gluten-free options. Therefore, it is used more and more not only in the food processing industry, but also in the food service industry, especially in bakery products. Using precooked cornmeal as a substitute is more widely used in developed countries and is a healthier popular alternative. The demand for gluten-free foods has increased significantly in recent years as the prevalence of celiac disease has increased in developing and developing countries. This damage is caused primarily by a reaction to eating foods high in gluten, such as wheat, rye, barley, and oats. Eating gluten causes a variety of health problems for some people. In addition, excessive consumption of these products can cause serious health problems such as sensitivity, allergy to wheat and celiac disease. Therefore, foods made with precooked corn flour are suitable for those with gluten intolerance or celiac disease. Additionally, precooked cornmeal made from pure ground corn is gluten-free. Instead of gluten, precooked cornmeal contains hemicellulose, an adhesive-like ingredient found in corn. The usage of precooked corn flour in infant foods to offer better texture and more nutrition creates a lucrative opportunity for development in the global precooked corn flour business.

Restraints:

Lack of consumer awareness and confidence in precooked corn flour products remains one of the main constraints in this market. Also, increasing resistance to GM crops, coupled with regulations from regulatory agencies that prohibit the use or cultivation of GM crops in certain countries, has created mistrust among consumers. Therefore, manufacturers of precooked cornmeal and other corn products declare on their packaging that they are non-GMO products. This had a negative impact on the growth of the corn industry. Besides, the lack of consumer confidence in the products is having a negative impact on the corn industry and its products. This is more common in developed countries where consumers recognize food ingredients in the products they consume and require a higher level of transparency from manufacturers.

Precooked Corn Flour Market Segmentation Analysis:

The nature-based pre-cooked corn flour market has been classified as organic and traditional. Traditional precooked cornmeal occupies the majority of the global precooked corn flour market, while the organic segment is expected to grow at a higher CAGR during the forecast period.

Based on the type of product, the precooked corn flour market was divided into white corn flour, yellow corn flour and blue corn flour. The yellow cornmeal segment represents the majority of the global market, while the white cornmeal segment is expected to record the fastest growth rate during the forecast period. Precooked yellow and white cornmeal is widely available in the market and used to make a variety of products such as tortillas, corn snacks, and bread.

On the basis of application, the market for precooked cornflour has been segmented into soups/sauces and dressings, baking & confectionery, infant formula, RTCfoods, extruded snacks and more. The extruded snacks segment occupies the majority of the global precooked corn flour market, while the RTC food segment is expected to record the fastest growth rate during the outlook period. Precooked corn flour is widely used in the production of precooked foods such as tortilla chips for dipping, or eaten as ethnic snacks, tacos, soft tortillas, corn chips, etc.

Geographical Segmentation Analysis:

• North America - the United States and Canada
• Europe - United Kingdom, Spain, Germany, Italy, and France
• The Asia Pacific - India, Japan, China, Australia, Singapore, Malaysia, South Korea, New Zealand, and Southeast Asia
• Latin America  - Brazil, Argentina, Mexico, and Rest of LATAM
• The Middle East and Africa - Africa and Middle East (Saudi Arabia, UAE, Lebanon, Jordan, Cyprus)

Regional Analysis:

North America accounted for the majority of the precooked cornmeal market prior to 2018, and the market growth in this region is primarily driven by the rapid growth of the food and beverage sector in the nation of the United States, Canada and Mexico. The growth of the precooked corn flour market in this region is mainly due to the rapid growth of the food and beverage industry in those nations. Additionally, the growing demand for healthy ready-to-eat and convenience foods is expected to increase demand for precooked corn flour in North America.

Key Players in the Market:

Major Key Players in the Global Precooked Corn Flour Market are

• Cargill Inc
• Archer Daniels Midland Company
• Harinera Del Valle
• Gruma SAB de CV
• Empresas Polar
• Bunge Ltd
• Bob's Red Mill Natural Foods, Inc
• Molino PeilaExisteSpA
• The Quaker Oats Company
• Lifeline Foods
• Cool Chile Company
• Groupe Limagrain
• Goya Foods, Inc