HYDERABAD, TELANGANA, INDIA, Nov 21, 2022 /EINPresswire.com/ — Corn Flour Market Values and Growth:
The global corn flour market size was valued at USD 15.73 billion in 2022, and is estimated to reach USD 29.39 billion by 2027, with a recorded CAGR of 8.2% during the forecast period .
Overview:
Cornmeal is a yellow powder made from finely ground and dried corn. Cornmeal is used in a similar way to other flours, while cornstarch is used primarily as a thickener. Cornmeal contains protein, fiber, starch, vitamins and minerals. Cornmeal can be used to make bread, pancakes, cookies, waffles, and cakes or as a substitute for wheat flour. Cornmeal does not contain gluten in its natural form. Cornmeal contains a low amount of dietary fiber and is necessary in a large portion for diabetic people. This is because dietary fiber helps slow down the digestion process.
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Drivers:
The growing demand for nutritious food. Healthy and conventional food products are driving the growth of the market. Rising demand for nutritious corn-based snacks included nachos, tortilla chips, and tacos to fuel market growth. The increasing demand for pastas and soups has increased the use of cornmeal to fuel the growth of the market. The increasing demand for gluten-free foods is the main factor driving the growth of the market. The growing prominence of private labels drives the growth of the market.
restrictions:
The lack of proper storage in developing countries is the main factor restricting the growth of the market.
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Segmentation analysis:
Corn Flour Market – Based on Application:
• Bakery and Confectionery
• Snacks
• Others
Application-Based: The snack food segment recorded as the largest market share in the corn flour market in 2022 and is anticipated to grow significantly during the forecast period. Snacks made with cornmeal, such as meatloaf, crispbread sandwiches, baked meatloaf, chicken pot pie, samosa pinwheel, samosa, spring rolls, chocolate cake, samosa flakes, and instant aloo samosa, and, therefore, it is extremely important in cornmeal. market.
Corn Flour Market – Based on distribution channels:
• Online sales
• Supermarkets / Hypermarkets
• Convenience stores
• Others
According to distribution channels: Supermarkets/hypermarkets occupied the largest share of the corn flour market in 2022 and it is anticipated to grow significantly during the forecast period. A hypermarket is a very large store that sells products found in a supermarket, as well as merchandise commonly found in department stores. Consumers prefer supermarkets/hypermarkets because they carry a variety of brands and product types and make it easy to find the perfect item to fuel market growth.
Corn Flour Market – Based on Type:
• Native starch
• Modified starch
• Sweeteners
By Type: The modified starch segment had the largest market share in the corn flour market in 2022 and is projected to grow significantly during the forecast period. Modified starch, also called starch derivative, is prepared by physical, enzymatic, or chemical treatment of native starch to change its properties. Modified starch is used in all starch applications such as in food products as a thickening and binding agent in coated paper to fuel market growth.
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Regional Analysis:
North America is the fastest growing region in the corn flour market and is expected to grow significantly during the forecast period. North America has high availability in countries like the US and Canada. The reason for this region’s dominance is the growth and popularity of the cornmeal market and the growing demand for healthy snack options, and this is likely to drive growth in the region’s market. The increasing demand for gluten-free bakery products drives the growth of the region’s market. The United States is the largest market supporting the growth of cornmeal. There has been rapid growth in corn f; flour market in the region leading to the growth of the world market.
Except that Europe is growing lucratively in the cornmeal market.
Latest industry development:
In October 2021, Mexico’s largest flour miller, Grupo Trimex, signed an agreement to acquire seven Mexican wheat flour mills from Bunge Ltd. for an undisclosed sum. Completion of the transaction is subject to customary closing conditions, including regulatory approval.
In July 2021, King Arthur Baking Company, America’s leading baking brand that served consumers during the baking boom of 2020, continues its legacy with new products designed to make baking easy and accessible to everyone. bakers, no matter their skill level. In 2021, the company released four new pancake mixes, one gluten-free confetti cake mix.
In March 2022, Nigeria’s leading food and agribusiness company Flour Mills of Nigeria will tighten its grip on the country’s flour milling market as it prepares to acquire a majority stake in Honeywell Flour Mills, a subsidiary of Honeywell Group. Ltd. .
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