According to a new study by Transparency Market Research, sales of precooked corn flour is expected to exceed 1.1 million metric tons in 2019, and record a Y-o-Y growth of ~5% in 2020. The rising demand for bakery products in the food industry is fueling the demand for precooked corn flour.
Rising Awareness about Benefits of Precooked Corn Flour to Drive Market
Increasing number of manufacturers are developing food products that offer unique textures as well as flavor to food preparations. These innovations have expanded the scope of application of these food products in the food & beverages industry. Precooked corn flour manufacturers are functioning at a global scale, and are regularly introducing new products to attract and retain consumers in an intensely competitive landscape.
Several precooked corn flour manufacturers have launched organic precooked corn flour with high nutritional properties to cater to the rising demand for precooked corn flour for snacks, bakery products, sauces, soups, pasta, pizza, and infant formulas. The integration of precooked corn flour into various food products offers high nutritive benefits, and intensifies the value and demand for food products. Additionally, subsequent reduction in the need for more processing methods has fueled the demand for precooked corn flour in the food service industry.
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Precooked Corn Flour to be Most Preferred Gluten-free Alternative
Corn and its products are considered healthy for consumption. A drastic rise in the incidence rate of celiac disease has resulted in a preference for gluten-free options. Precooked corn flour contains nutritive properties and is available in various varieties. It is, therefore increasingly being used in the food processing industry as well as in the food service industry, especially in bakery products. The use of precooked corn flour as a replacement is more prevalent in developed countries, where it is popular as a healthier alternative. Thus, this market in North America, Europe, and East Asia is anticipated to experience high growth.
Resistance towards GMO Crops to Hinder Demand for Precooked Corn Flour
Corn is one of the highest grown GMO crops across the globe. However, increasing resistance towards GMO crops, coupled with regulations imposed by regulatory bodies prohibiting the use or cultivation of GMO crops in certain countries has led to distrust among consumers. This has adversely impacted the growth of the corn industry. Manufacturers of precooked corn flour and other corn products are, therefore specifying that their products are non-GMO certified on the packaging. However, lack of consumer trust in the product is negatively affecting the corns and corn products industry. This is more common in developed countries, where consumers are aware of food ingredients in products that they consume and demand a higher level of transparency from manufacturers.
Global Precooked Corn Flour Market: Competition Landscape
Some of the key players in the global precooked corn flour market are Archer Daniels Midland Company, Cargill Inc., Harinera Del Valle, Empresas Polar, Gruma SAB de CV, Bunge Ltd., The Quaker Oats Company, Molino Peila SpA, Lifeline Foods, Groupe Limagrain, Cool Chile Company, Bob’s Red Mill Natural Foods, Inc., and Goya Foods, Inc.
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