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The corn flour market size is forecast to increase by USD 3,688.63 million, at a CAGR of 3.58% between 2023 and 2028.
The growth of the market depends on several factors, including increasing prominence of private-label brands, growth in the baking industry, and increasing demand from emerging markets. It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The increasing prominence of private-label brands is notably driving the market growth, although factors such as corn crops being vulnerable to climate change may impede the market expansion. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The increasing prominence of private-label brands is notably driving market growth. Globally retailers are making private-label products their key focus area. Various retailers are selling different types of products under their private-label brands to increase their profitability, which is contributing to the expansion of the global market. In the last decade, the private-label product segment has grown in terms of scope and size. For instance, China-based Alibaba sells a variety of these products, such as organic and conventional starch, under its own brand.
Moreover, these products are priced lower than branded products. Hence, price-sensitive consumers are likely to purchase such products. Furthermore, supermarket chains have started allocating more shelf space to their private-label offerings and various in-house marketing and promotional activities. Therefore, the demand for private-label brands is expected to increase, which, in turn, will drive the expansion of the global market during the forecast period.
Increasing awareness about gluten-free products is an emerging trend in the market. The demand for gluten-free products has increased owing to the growing awareness about celiac disease due to the consumption of grains such as wheat, rye, and barley. As flour made from corn is gluten-free, there is a significant rise in its demand.
Gluten is a general name for proteins found in grains such as wheat, barley, rye, spelled, and other grains. Gluten sensitivity is found to aggravate digestive issues, cause inflammation of the small intestine, lead to attention deficit hyperactivity disorder (ADHD), and mitigate healthy brain function. No cure has been developed for this disease so far, and the only way to avoid it is to switch to a gluten-free diet. Hence, consumers have started avoiding foods containing gluten, and the gluten-free food market is growing with perceptions rising about healthy foods. Therefore, this trend is favorable for the growth of the global market during the forecast period.
Corn crops being vulnerable to climate change is a major challenge impeding the market. The growth of corn plants is negatively affected due to changes in climate conditions such as heat waves and unpredictable rainfall. An increase in heat, drought, and solar radiation is witnessed to have negative effects on corn yield. Since corn plants are sensitive to such conditions, low yields can be expected in areas that are getting hotter and drier.
For instance, in the US, corn-producing states such as Iowa, Illinois, Nebraska, and Minnesota have been experiencing extreme weather conditions in the last few years, which is affecting corn yield. Therefore, climate change, which is expected to intensify over the coming years, is likely to hinder corn yield. This will limit the expansion of the global market during the forecast period.
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their expansion strategies.
Global Market Customer Landscape
companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
SEMO Milling LLC - The company offers various food products such as granulations of grits, meals, cones, flours, bran, and whole grain corn products. The key offerings of the company include various types of flour.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative market growth analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market share growth by the industrial segment will be significant during the forecast period. In the industrial sector, this is one of the most widely used corn milling products.
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The industrial segment was valued at USD 7,772.87 million in 2017 and continued to grow until 2021. It is popular among snack manufacturers. It is widely used in manufacturing tortilla chips and other snack products. The high starch content of the flour aids significantly in giving a high puff in the preparation of processed/extruded snack products where corn flavor is desired. Furthermore, the use of this flour is increasing in baby food products. This can be attributed to the presence of starch and proteins that are easily digestible. Moreover, it is also a good source of vitamin B complex and proteins and has a very low allergen content, which makes it ideal for infant food consumption. Hence, these factors are expected to propel the growth of the industrial sector in the global market during the forecast period.
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North America is estimated to contribute 34% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
North America is one of the largest producers and consumers of corn. The climate of North America is also suitable for corn production, which supports the expansion of the market in the region. In North America, key countries that contribute to the production and consumption of corn are the US, Mexico, and Canada. In 2020, the US was the largest producer of this flour in the world because of the high demand within the country. Moreover, the market in North America is expected to witness steady expansion owing to the rising Hispanic population. This is because tortillas are a staple food for the Hispanic population in the US.
Furthermore, owing to its high vitamin E content, consumers in this region prefer using this flour for cooking purposes. As bread is widely consumed in North America, and with people becoming aware of the ill effects of genetically modified wheat used in making bread, they are expected to shift toward starch and blended bread. This growing trend among consumers in the region has added to the increasing use of this flour. Therefore, the above-mentioned factors are expected to propel the growth of the market in the region during the forecast period.
The report forecasts market growth by revenue at global, regional & country levels and provides a market research and growth analysis of the latest market trends and growth opportunities from 2017 to 2027.
This flour plays a pivotal role in the production of healthy and nutritious foods, catering to the preferences of health-conscious customers. It serves as a versatile ingredient in various culinary applications, from nachos and taco shells to gluten-free snacks. The demand for corn-based healthful snacks is on the rise, especially in products like pasta, soups, and ready-to-eat or ready-to-cook foods. This is a key component in the production of gluten-free foods, meeting the dietary needs of individuals with specific health considerations.
Maize-derived starch also finds applications in the preparation of sauces and serves as a coating in deep-fried foods. This versatility contributes to its significance in the corn starch market. As consumers increasingly seek healthy snack options, the market remains instrumental in providing nutritious alternatives, reflecting the ongoing trend toward wellness and mindful eating choices.
Corn Flour Market Scope |
|
Report Coverage |
Details |
Page number |
173 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 3.58% |
Market growth 2023-2027 |
USD 3,688.63 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
3.36 |
Regional analysis |
North America, APAC, South America, Europe, and Middle East and Africa |
Performing market contribution |
North America at 34% |
Key countries |
US, Mexico, China, India, and Brazil |
Competitive landscape |
Leading companies, Market Positioning of companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
AGRANA Beteiligungs AG, Bobs Red Mill Natural Foods Inc., Bunge Ltd., C.H. Guenther and Son Inc., Cargill Inc., Doves Farm Foods Ltd., General Mills Inc., Grain Millers Inc., Gruma SAB de CV, Ingredion Inc., King Arthur Baking Co. Inc., LifeLine Foods LLC, SEMO Milling LLC, Shah Food Processing Pvt. Ltd., Sresta Natural Bioproducts Pvt. Ltd., To Your Health Sprouted Flour Co., Unilever PLC, War Eagle Mill, Weisenberger Mills Inc., and Associated British Foods Plc |
Market dynamics |
Parent market analysis, Market forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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