Cornmeal Market Analysis:
The global cornmeal market is mainly driven by the growing awareness about its nutritional content and the growing prevalence of gluten intolerance, according to a new research report from Market Research Future (MRFR). The report profiles the global cornmeal market on the basis of the historical trajectory exhibited by the market over the historical review period and the major drivers and restraints affecting the market’s growth prospects over the forecast period. The leading players operating in the global cornmeal market are also profiled in the report to provide readers with a complete overview of the competitive dynamics of the global cornmeal market.
Cornmeal market size is expected to reach USD 1.0379 billion by 2030, growing at a CAGR of 3.79% between 2023 and 2030.
Cornmeal is powdered corn and serves as a vital source of nutrients and minerals such as zinc, manganese, iron, copper, phosphorus, and magnesium. These minerals are all responsible for vital functions in the human body, including the maintenance and upkeep of the blood, bones, and the nervous system. This has served to drive the demand for cornmeal products in the last few years due to the growing awareness about its nutritional benefits. The growing application of cornmeal in bakery products, breakfast cereals, and corn-based snacks is likely to be a major driver for the global Cornmeal Market Insights over the forecast period, as the easy applicability of cornmeal and its diverse usability in a wide range of preparations have led to a growing demand for cornmeal as a nutritive additive product in the aforementioned product segments. This is likely to remain a major driver for the global cornmeal market over the forecast period due to the growing awareness about fortified meals and their rising incorporation into the commercial food supply line.
The growing prevalence of gluten intolerance is also likely to play a key role in the growth of the global cornmeal market over the forecast period due to the absence of gluten in cornmeal. This further widens its application scope in the food and beverage industry, as even gluten intolerant consumers can consumer products containing cornmeal.
Segmentation:
The global cornmeal market has been segmented based on type, category, application, and region.
By type, the global cornmeal market is segmented into white cornmeal, yellow cornmeal, and others.
On the basis of category, the global cornmeal market has been bifurcated into organic and conventional.
The global cornmeal market has been segmented on the basis of application into food & beverage, animal feed, and others. The food & beverage segment is further sub-divided into bakery and confectionery products, sweet and savory snacks, breakfast cereals, and others.
Regional Analysis:
The global cornmeal market is segmented into North America, Asia Pacific, Europe, and rest of the world on the basis of region. North America is likely to dominate the global cornmeal market over the forecast period due to the growing production of corn in the region, the growing prevalence of gluten intolerance in the region, and the growing demand for fortified bakery products in the region. Up to 7% of the U.S. population is said to be suffering from some form of gluten intolerance, which, along with the growing prevalence of celiac disease, is likely to propel demand from the cornmeal market in North America over the forecast period. Europe holds the second largest share in the global Cornmeal Market Outlook and is likely to retain a significant share over the forecast period due to the growing demand for healthier bakery products in the region.
Asia Pacific is expected to exhibit the fastest growth over the forecast period due to the growing food and beverage industry in the region and the growing support for the production of agricultural products such as cornmeal on an industrial scale. The growing use of cornmeal in animal feed is also likely to be a major driver for the cornmeal market in Asia Pacific over the forecast period. China and India are likely to remain the leading country-level markets for cornmeal over the forecast period in Asia Pacific.
Competitive Analysis:
Leading players in the global cornmeal market include Archer Daniels Midland Company, Bunge Limited, SEMO Milling LLC, Agricor, Weisenberger Mills Inc., Atkinson Milling Co., Dover Corn Products Ltd., General Mills Inc., Didion Inc., and Cargill Inc.
Industry Updates:
In December 2018, cornmeal containers at a South Florida restaurant were found to contain rodent droppings. Such events could give the cornmeal market a bad press in the coming years, as awareness regarding food safety certification is growing in emerging as well as developed regions.
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