The research study covers the present scenario and growth prospects of the global corn flour market for 2017-2021. To calculate the market size, the report considers the revenue generated from the retail sales of corn flour worldwide.
The global corn flour market is expected to experience steady growth during the predicted period due to the growing popularity of Mexican food and other corn-based food. The highest growth is expected to be seen in countries like Mexico and the US due to the rising use of corn flour in the industrial and foodservice sectors. The major factors contributing to the growth of the market are the growth of the foodservice industry and growing awareness about various health benefits of consuming corn-based foods. Further, the increasing urbanization in emerging economies will also support the forecasted growth.
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Technavio food and beverage analysts highlight the following three factors that are contributing to the growth of the global corn flour market:
Growing popularity of Latin foods
The changing landscape of the American demographics creates new opportunities for the corn flour market. The number of consumers preferring Mexican food in the US is growing rapidly. Corn flour is one of the major ingredients in most Mexican food and snacks. The major restaurant chains in the US such as Yum! Brands and Brinker International that control a significant portion of the market share sell mainstream Mexican food.
Manjunath Reddy, a lead food research analyst at Technavio, says, “The increase in western and fast food service restaurants in developing countries will also support the market growth during the estimated period. Increasing consumption of tortilla chips and other corn-based snacks will also lend support to market’s growth.”
Growth in baking industry
The growth in the global baking industry will drive the global corn flour market. It is estimated that the baking industry generated around USD 417 billion in net sales in 2015 in the categories of fresh and frozen bread and rolls; fresh and frozen cakes, pies, and other pastries; cookies, crackers, and pretzels; and tortillas.
“Potential markets such as Latin America and Asia reported significant growth in recent years due to changing consumer diets that incorporate more wheat-based products. Increasing disposable incomes also allow consumers to buy a greater variety of discretionary packaged baked goods,” adds Manjunath.
Health benefits associated with consumption of corn
Corn is one of the most popular cereals across the globe and is the staple food in the US. Corn contains plenty of minerals such as phosphorus, magnesium, zinc, manganese, iron, and copper. These minerals are found in almost all varieties of corn. Phosphorus is crucial for regulating normal growth, optimal kidney functioning, and maintaining good bone health.
Popcorn as a whole grain food or snack was even included among foods recommended in the 2005 Dietary Guidelines for Americans, which was published jointly by the US Department of Health and Human Services (HHS) and the US Department of Agriculture (USDA). This is because that consumption of popcorn is associated with increased intake of whole grains, dietary fiber, and some other essential nutrients necessary for the growth and development of the body.
- Bob's Red Mill Natural Foods
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