Report : South 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) Application (Bakery and Confectionery, Soup, Sauces and Dressings, RTE Meals and Foods, Extruded Snacks, and Others)Â
Yellow Corn Flour Segment to Dominate SAM Precooked Corn Flour Market during 2021–2028
According to a new market research study on “SAM Precooked Corn Flour Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Product Type and Application” is expected to reach US$ 438.46 million by 2028 from US$ 319.02million in 2021. The market is estimated to grow at a CAGR of 4.6% from 2021 to 2028. The report provides trends prevailing in the SAM precooked corn flour market along with the drivers and restraints pertaining to the market growth. Growing demand for gluten-free food products is the major factor driving the growth of the SAM precooked corn flour market. However, issues associated with the lack of awareness among consumers hinder the growth of SAM precooked corn flour market.
The SAM precooked corn flour market is segmented into product type, application, and country. Based on product type, the SAM 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 SAM 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, SAM precooked corn flour market is classified into Brazil, Argentina, and Rest of SAM.
Brazil reported the highest number of COVID-19 cases, followed by Argentina, Peru, Chile, and Ecuador among others. The government of South America has taken an array of actions to protect its citizens and combat the spread of the COVID-19 virus through lockdowns, trade bans, and travel restrictions. This may have a direct impact on the growth of the precooked corn flour market due to significant disruptions in terms of sourcing of raw materials from suppliers as well as temporary closures of the manufacturing base due to indefinite lockdowns and temporary quarantines. As there have been relaxations in the lockdown, there has been an increase in demand for healthy bakery items and ready-to-eat as well healthy snack products, which is increasing the demand for precooked corn flour.
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 SAM 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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