Corn Flour Market Size 2024-2028

The corn flour market size is forecast to increase by USD 3.38 billion, at a CAGR of 3.2 % between 2023 and 2028. The market's growth hinges on several pivotal factors. Firstly, the increasing prominence of private-label brands across various sectors stimulates competition and consumer choice. Secondly, the expanding baking industry, driven by changing consumer preferences and dietary trends, fuels the demand for diverse packaging solutions. Additionally, emerging markets are becoming significant contributors, with rising disposable incomes and shifting consumer habits boosting overall market expansion. These dynamics underscore the need for packaging innovations that cater to both traditional and emerging markets' demands. As companies strive to differentiate through quality and sustainability, the market for packaging solutions is poised for robust growth. Adapting to these trends will be crucial for manufacturers to capitalize on the opportunities presented by evolving consumer preferences and global economic shifts.

What will be the size of the Market During the Forecast Period?

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Market Dynamics and Customer Landscape

The market is witnessing significant growth due to its extensive applications in various industries, including RTE products and food processing. Corn flour is a versatile ingredient derived from corn, and its production capabilities are driven by the demand for convenience in modern diets. Breakfast cereals, baked goods like bread, skin exploitation and skin care products are some of the major applications of corn flour. Colors derived from corn flour are used in food and cosmetics industries, adding to the market's growth. Corn flour is also a popular alternative for rice and wheat-based products among gluten-intolerant populations. Producers are focusing on producing gluten-free corn flour and gluten free food product to cater to this growing demand.

Additionally, FAO reports suggest that corn is one of the most widely produced crops globally, making it an affordable and accessible ingredient for various food industries. Corn flour is also a healthy and nutritious food products, offering health benefits such as Insights analysis, kidney functioning, and heart rate regulation. Kraft Heinz and Mondelez are some of the major players in the market, leveraging its potential as a diabetic-friendly ingredient in their product offerings. Geographically, the market is divided into various regions, with Asia Pacific being the largest consumer due to its extensive use in RTE products and food processing industries. Corn flour is also used as a substitute for general wheat flour in various baked goods and as a thickener in various savory dishes, making it a popular ingredient in various cuisines worldwide.

Key Market Driver

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. 

Significant Market Trend

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 glutenfree product, 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. 

Major Market Challenge

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.

Key Market Customer Landscape

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

Who are the Major Market Players?

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.

Bobs Red Mill Natural Foods Inc. - The company offers whole grain corn flour which can be used for baking purposes.

The report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:

• AGRANA Beteiligungs AG
• 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
• Shah Food Processing Pvt. Ltd.
• Sresta Natural Bioproducts Pvt. Ltd.
• To Your Health Sprouted Flour Co.

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.

What is the Fastest-Growing Segment in the Market?

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. 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.

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The industrial segment was valued at USD 8.09 billion in 2018.  Furthermore, the use of this flour is increasing in baby food products. This can be attributed to the presence of corn 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.

Which are the Key Regions for the Market?

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North America is estimated to contribute 32% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional market 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.

Segment Overview

The market research and growth research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.

• End-user Outlook 
  • Industrial
  • Retail
  • Foodservice

• Distribution Channel Outlook  
  • Supermarkets and hypermarkets
  • Convenience stores
  • Online retail
  • Others

• Region Outlook  
  • North America
    • The U.S.
    • Canada
  • Europe
    • The U.K.
    • Germany
    • France
    • Rest of Europe
  • APAC
    • China
    • India
  • Middle East & Africa
    • Saudi Arabia
    • South Africa
    • Rest of the Middle East & Africa
  • South America
    • Chile
    • Brazil
    • Argentina

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Market Analyst Overview

The market is witnessing significant growth due to the increasing production capabilities of producers and the rising demand for RTE products in the food sector. Corn flour, derived from maize production, is a versatile ingredient used in various food applications, including breakfast cereals, bread, and snacks like tortillas, tacos, nachos, and corn chips. The convenience requirements of urban populations, especially in urban centers, have propelled the sales of corn flour in the production of convenience foods and processed foods. In addition, the market is further driven by the urbanization trend and the global population's increasing preference for healthy food options.

Further, corn flour is also used in the production of gluten-free products, catering to the dietary sensitivities of consumers. The market is expected to grow at a high rate due to the rising health-conscious preferences and the fiber content and low glycemic index of corn flour, making it a suitable ingredient for a balanced diet. Furthermore, product diversification in the market, including the production of healthy pet foods and diet snacks, is expected to fuel the market's growth. The FAO report indicates that maize production is expected to increase, further boosting the market. Overall, the future market insights analysis of corn flour looks promising, with sales expected to continue their upward trajectory in the coming years.

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What are the Key Data Covered in this Market Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the expansion of the market between 2024 and 2028
• Precise estimation of the market size and its contribution to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Expansion of the industry across North America, APAC, South America, Europe, and Middle East and Africa
• A thorough market research report analysis of the market’s competitive landscape and detailed information about companies
• Comprehensive market growth and forecasting analysis of factors that will challenge the growth of market players

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