Report : Asia Pacific Precooked Corn Flour Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product Type (Yellow Corn Flour, White Corn Flour, and Others) and Application (Bakery and Confectionery, Soup, Sauces and Dressings, RTE Meals and Foods, Extruded Snacks, and Others)Â
Yellow Corn Flour Segment to Dominate APAC Precooked Corn Flour Market during 2021–2028
According to a new market research study on “APAC Precooked Corn Flour Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Product Type and Application” is expected to reach US$ 1,378.25 million by 2028 from US$ 940.72 million in 2021. The market is estimated to grow at a CAGR of 5.6% from 2021 to 2028. The report provides trends prevailing in the APAC precooked corn flour market along with the drivers and restraints pertaining to the market growth. Introduction of organic and Non-GMO precooked corn flour is the major factor driving the growth of the APAC precooked corn flour market. However, issues associated with the lack of awareness among consumers hinder the growth of APAC precooked corn flour market.
The APAC precooked corn flour market is segmented into product type, application, and country. Based on product type, the APAC precooked corn flour market is categorized into yellow corn flour, white corn flour, and others. The yellow corn flour segment dominated the market in 2020 and white corn flour segment is expected to be the fastest growing during the forecast period. Based on application, the APAC precooked corn flour market is segmented into bakery and confectioneries, soups, sauces, and dressings, RTE meals and foods, extruded snacks, and others. The extruded snacks segment dominated the market in 2020 and RTE meals and foods segment is expected to be the fastest growing during the forecast period. Based on country, APAC precooked corn flour market is classified into Australia, China, India, Japan, South Korea, and Rest of APAC.
The ongoing COVID-19 pandemic is anticipated to cause huge disruptions in the growth of various industries of Asia Pacific. However, the uncertainty regarding the future outbreak, especially in countries such as India and a few other Asian countries, has altered the status of several industrial sectors. The ongoing COVID-19 pandemic is anticipated to cause huge disruptions in the growth of various industries of Asia Pacific. However, the uncertainty regarding the future outbreak, especially in countries such as India and a few other Asian countries, has altered the status of several industrial sectors. The shutdown of manufacturing units and disruptions in supply chain and logistics have negatively impacted the precooked corn flour market. During the pandemic, the demand for ready-to-eat food products increased across the region which had a positive impact on the precooked corn flour market. According to an online grocery firm, Grofers, the demand for packaged food in India, during the second lockdown increased and witnessed a spike of 80%. Thus, an increase in demand for ready-to-eat products will lead to increase the use of precooked corn flour as an essential ingredient for such products.
Agricor; Archer Daniels Midland Company; Buhler; Bunge Limited; Cargill, Incorporated; SRL; Gruma, S.A.B de C.V; Limagrain ; Molion Peila SpA; and SEMO Milling LLC are among the leading companies in the APAC precooked corn flour market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market.
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