According to a new report published by Allied Market Research, titled, “Maize Flour Market,” The maize flour market was valued at $32.7 billion in 2021, and is estimated to reach $51 billion by 2031, growing at a CAGR of 4.6% from 2022 to 2031.
Maize flour, also known as corn flour in some regions, is derived from the ground and desiccated seeds of maize or corn plant. The vast majority is made of yellow and white maize flour. An increase in the demand for Mexican food serves as a driver for market growth. Along with this health benefits of maize flour attracts consumers towards it.
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The Key Players:
- Andersons Food,
- Archer Daniels Midland,
- Cargill, Bunge,
- Grain Millers,
- Gruma,
- North Dakota Mill,
- Limagrain,
- Bob’s Red Mill,
- Empresas Polar Inc.
The high price of pre-cooked maize flour can be a factor in the growth of the maize flour industry. The pre-cooked maize flour is ready to use. Since it is precooked, it is quite expensive as compared to other forms of maize flour. Due to its high price consumer avoid buying it as it puts weight on their pocket and they have other cheaper options compared to it. The only reason customers buy it is that it saves their time as they get it ready in hand and it also saves a lot of effort. Due to the high price of precooked maize flour consumers will shift towards maize flour.
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The limited availability of maize may restrain the growth of the market. Maize flour is used to make bread, muffins, doughnuts, biscuits, wafers, breakfast cereals and breading. There is a limited availability of maize which can restrict the growth of market. According to a report of Food and Agricultural Organization (FAO) of the United States there is a decline of 30% in maize production from the past 5 years average. Since there is lack of availability of maize growth of maize flour will slow down. Manufacturers can convince farmers to grow more of maize to overcome such restraint
According to the International Growth Centre, “maize is the world’s third most dominant crop, after rice and wheat”. North America acquires the most share of the maize flour market region-wise. In recent, time people are avoiding gluten-contained products as it is not health friendly and can cause several diseases which will result in an increase in the demand for maize flour market.
The global maize flour market is segmented on the basis of product type, end-user, distribution channel, and region. Depending on product type, the market is classified into yellow and white. As per the end user, it is divided into commercial and household. According to distribution channels, it is divided into hypermarkets/supermarkets, convenience stores, online retail and others. Region-wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, the UK, France, Italy, and the rest of Europe), Asia-Pacific (China, Indonesia, India, and the rest of Asia-Pacific), and LAMEA (Brazil, Argentina, South Africa, and the rest of LAMEA).
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