Report : North America 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
Extruded Snacks Segment to Dominate North America Precooked Corn Flour Market during 2021–2028
According to a new market research study on “North America Precooked Corn Flour Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Product Type and Application” is expected to reach US$ 1,194.41 million by 2028 from US$ 889.35 million in 2021. The market is estimated to grow at a CAGR of 4.3% from 2021 to 2028. The report provides trends prevailing in the North America precooked corn flour market along with the drivers and restraints pertaining to the market growth. Rising demand for gluten-free food products is the major factor driving the growth of the North America precooked corn flour market. However, issues associated with the lack of awareness among consumers hinder the growth of North America precooked corn flour market.
The North America precooked corn flour market is segmented into product type, application, and country. Based on product type, the North America 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 North America 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, North America precooked corn flour market is classified into US, Canada, and Mexico.
The US has the highest number of confirmed COVID-19 cases among all key countries in the region. This has negatively impacted the overall manufacturing processes, research, and development activities. The significant disruption in manufacturing facilities, along with raw material sourcing, has had a negative impact on the precooked corn flour market. Along with this, the pandemic has had a negative impact on the food supply chains, simultaneously affecting farm production, food processing, transport, and logistic. During the pandemic, there have been changes in the consumer lifestyle which has led to an increase in demand for healthy food products including ready-to-eat, extruded snacks, and bakery products. In such stressful times, people are turning to snacks for their comfort and has led to increasing demand for healthy snacks. The growing consumer focus on health and wellbeing due to the pandemic is also expected to promote the demand for precooked corn flour in the North American market.
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 North America 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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