According to The Insight Partners market research study on “Europe Precooked Corn Flour Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Product Type and Application” is expected to reach US$ 767.80 million by 2028 from US$ 618.78 million in 2021. The market is estimated to grow at a CAGR of 3.1% from 2021 to 2028. The report provides trends prevailing in the Europe precooked corn flour market along with the drivers and restraints pertaining to the market growth. Rising preference for convenience food products is the major factor driving the growth of the Europe precooked corn flour market. However, issues associated with the lack of awareness among consumers hinder the growth of Europe precooked corn flour market.
The Europe precooked corn flour market is segmented into product type, application, and country. Based on product type, the Europe 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 Europe 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, Europe precooked corn flour market is classified into Germany, France, Italy, UK, Russia, and Rest of Europe.
Europe comprises several developing economies, such as Germany, Russia, France, the UK, and Italy. Europe is considered a profitable market for precooked corn flour due to an increasing trend of healthy snacking and the increasing demand for Mexican food across the region. Snacking during social occasions and on the go is becoming one of the common trends in Europe, and consumers are looking for healthy snacks. Consumers in the UK prefer convenience food products, whereas Germany is one of the largest organic and natural snacks markets. According to the Centre for the Promotion of Imports from developing countries (CBI), the sale of snack products in Europe reached US$ 15.64 billion in 2018, with a year-on-year growth of 6%. A surge in the consumption of snacks would further drive the demand for products, such as tortilla chips and corn chips, leading to an increase in the demand for precooked corn flour as it is used as an ingredient for producing such snack varieties. Also, precooked corn flour is an ideal solution for healthy snacking products as it is gluten-free and has various nutritional benefits.
Agricor; Archer Daniels Midland Company; Buhler; Bunge Limited; Cargill, Incorporated; Favero Antoniop SRL; Gruma, S.A.B de C.V; Limagrain ; Molion Peila SpA; and SEMO Milling LLC are among the leading companies in the Europe 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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