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Demand For Ready-To-Eat Foods Increases Among them Which in Turn Escalates the Adoption of Corn flour and Thus Drives the Corn Powder Market Growth.
HYDERABAD, TELANGANA, INDIA, September 12, 2022 /
EINPresswire.com/ -- IndustryARC, in its latest report, predicts that the Global
Corn Powder Market size is estimated to reach $26.4 billion by 2027. Furthermore, it is poised to grow at a CAGR of 7.5% over the forecast period of 2022-2027. Growing preference for ready-to-eat foods and the rising consumption of bakery products are some of the factors driving the Corn Powder Global Industry forward in the projected period of 2022-2027. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.
Key takeaways :
1. Geographically, in 2021 North America held a dominant market share. It is owing to the changing consumption pattern and hectic lifestyle among consumers. Owing to busy schedules, people are always consuming packaged foods, and thus the demand for Corn Powder roses.
2. Corn Powder is used in various types of snacks in order to enhance its taste and texture so, manufacturers are using corn flour to make a variety of food that is available in the form of packaged food.
3. According to the United States Grains Council, about 69.8 million metric tons of corn are exported to the United States in 2020. Moreover, corn production grew in the U.S. at a rate of 7% in 2020, and owing to this, its adoption rises in various industries and thus enhancing the market growth.
4. Increasing consumption of ready-to-eat foods and the rising growth of the bakery industry are some of the factors driving the Global Corn Powder Market. However, growing health problems owing to excessive consumption of corn powder are one of the factors impeding the market growth.
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Segmental Analysis :
1. The Global Corn Powder Market based on the application can be further segmented into Bakery and Confectionery, Snacks, Pharmaceuticals, and Others. Bakery and Confectionary held a dominant market share in the year 2021. According to American Bakers Association, about $423 billion in baked goods is produced and sold in the U.S. Therefore the demand for Corn Powder surges in the bakery and confectionery industry.
2. Supermarkets held a dominant market share in the year 2021. It is owing to various factors such as increased consumer preference towards snacks and bakery products which will lead them to purchase corn flour and the availability of corn flour in bulk attracted consumers to buy from supermarkets.
3. Corn Powder is used in a range of snacks to improve the taste and texture, therefore producers are employing it to build a variety of packaged foods. According to the United States Grains Council, corn exports to the US would total 69.8 million metric tonnes in 2020.
Competitive Landscape :
The top 5 players in the Corn Powder industry are -
1. Bonn Group
2. Ferrero International S.A.
3. Crown Bakeries
4. Cargill Inc.
5. Clariant AG
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https://www.industryarc.com/Research/Bakery-Product-Market-Research-508439Venkat Reddy
IndustryARC
+1 614-588-8538
venkat@industryarc.com
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