precooked corn flour Market

The precooked corn flour market was valued at US$ 2,918.78 million in 2021 and is projected to reach US$ 3,953.67 million by 2028; it is expected to grow at a CAGR of 4.4% from 2021 to 2028.

The precooked corn flour market has been growing steadily in recent years, driven by the increasing demand for corn-based food products, particularly in the food and beverage industry. Precooked corn flour, also known as instant corn flour, is made from ground and cooked corn kernels. It is widely used as a thickener, binding agent, and flavoring ingredient in a variety of dishes, including tortillas, tamales, and empanadas. The global market for precooked corn flour is expected to continue to grow in the coming years, driven by factors such as the rising popularity of Mexican cuisine worldwide, the increasing adoption of corn-based food products in the Asia Pacific region, and the growing demand for gluten-free and non-GMO food products. However, the market has also faced challenges, particularly during the COVID-19 pandemic, which led to supply chain disruptions and reduced demand in some regions. Nonetheless, with the global economy recovering, the demand for precooked corn flour is expected to rise again, driven by the growing demand for convenient and easy-to-prepare food products.

MARKET SEGMENTATION

On the basis of application, the global precooked corn flour market is divided into, bakery and confectionery, extruded snacks, soups, sauces & dressings, RTE meals and food, and others. The RTE meals and food segment experienced the most rapid growth in 2020 due to the increased demand for convenient, ready-to-eat meals and foods, as busy work schedules leave consumers with less time to cook. Additionally, the rise in the consumption of packaged food is driving the expansion of the precooked corn flour market.

IMPCAT OF COVID-19

The COVID-19 pandemic presented unprecedented challenges for many industries, including the food and beverage sector. Initially, the shortage of raw materials and labor, factory shutdowns, and other operational difficulties due to the outbreak led to a decline in precooked corn flour sales. The pandemic-induced lockdowns heavily impacted food processing procedures and hindered the growth of the precooked corn flour market. However, with the introduction of COVID-19 vaccines, the situation has improved, leading to a resumption of business activities worldwide. As economies resume operations, the demand for precooked corn flour is expected to increase globally in the near future.

MARKET PLAYERS

To expand their consumer base and global presence, prominent players in the precooked corn flour market have implemented various strategies such as product launches and mergers and acquisitions. Some of the key players in this market include 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.