Spain Corn Flour Market 2021-2026 with Growth Factors and Trends with Focusing Key players

Posted by aartimurkute on June 19th, 2023

The corn flour market in Spain is experiencing significant growth, driven by the increasing consumer preference for healthier snack options. According to the recent report by Fairfield Market Research, the global corn flour market, valued at US.2 billion in 2019, is projected to reach a valuation of US.2 billion by 2026, with an impressive CAGR of 8.2% during the forecast period from 2021 to 2026.

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Corn flour, derived from maize, offers a multitude of health benefits that are gaining popularity among health-conscious consumers. Maize contains essential minerals such as magnesium, iron, manganese, copper, phosphorus, and zinc, which contribute to improved bone strength, renal function, heart health, and regular growth. Additionally, corn flour helps in maintaining stable blood sugar levels, making it a suitable choice for individuals with diabetes. These health benefits, combined with the increasing trend of healthy snacking, are driving the demand for corn flour-based products.

The market for gluten-free bakery products is witnessing significant growth as consumers' dietary preferences shift towards healthier alternatives. Bread items, which account for the highest volume in the precooked corn flour industry, continue to dominate the bakery and confectionery segment, holding a significant market share of approximately 42% in 2021.

Gluten-free goods are in high demand due to the rising prevalence of autoimmune digestive illnesses caused by gluten consumption. To cater to this demand and remain competitive, manufacturers in the precooked corn flour market are employing gums as gluten substitutes to simulate the viscoelastic properties of gluten. These gums enhance dough performance and improve cake qualities. Moreover, precooked corn flour manufacturers are expanding their range of gluten-free bread products to include alternatives such as rice and buckwheat.

The corn flour market faces challenges related to storage facilities, particularly in developing countries. The Food and Agriculture Organization (FAO) reports that nearly half of the globally produced food ends up in waste bins each year due to inadequate storage, handling, and transportation facilities. Developing economies, such as India, China, and Brazil, struggle with food wastage despite being major producers of grain crops. Addressing these challenges will be crucial for the expansion of the corn flour market.

Spain, with its increasing focus on health-consciousness and the rising demand for healthier snack options, is a significant market in the global corn flour industry. The market in Spain will benefit from the growing consumer population seeking healthier alternatives and the inclusion of corn-based cuisines in various food offerings. Additionally, the corn flour market in the Asia Pacific region is growing rapidly and is expected to demonstrate the fastest rate of growth in the coming years, driven by the expanding population, increased expenditure on staple food, and rising fast food consumption.

The global corn flour market is highly competitive, with numerous local and international manufacturers vying for market share. Leading market players identified in the report include Bunge, BASF, Cargill, Gruma, Clariant, Solvay, Grain Millers, Evonik, and Glen Miller. Other key vendors present in the market are W.R. Grace, Buffaloe Milling, Minsa Corp, C.H Guenther and Sons, Grupo Bimbo, Shaff Farms, SEMO Milling, and Ingredion Lifeline Foods. The market is characterized by intense competition, and many players are engaging in acquisitions and mergers to sustain their position in this competitive landscape.

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