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.
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.
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.
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.