Cornmeal Market Size, Share, and Growth Rate Analysis:
Cornmeal market size was estimated at USD 686.0 million in 2019 and is expected to reach over USD 1023.0 billion by the end of the assessment period. The Cornmeal Market is suspected of experiencing moderate growth to record a CAGR of 3.7% throughout the forecast period 2020-2025. Cornmeal, according to the description, is dried corn kernels that have been crushed into one of three textures, fine, medium, or coarse. It is the famous dry corn due to its long shelf life, the absence of black spots, and bright colors. The present method of corn flour production involves first determining the corn kernels to separate the horny endosperm portion of each corn kernel from the rest of the core.
Cornmeal is a staple food widely used in many parts of the world. Very finely ground cornmeal is known as cornflour. Cornmeal becomes an excellent healthy alternative for people with celiac disease or sensitivity to gluten. Cornmeal has good fiber content in the diet and rich in food nutrients like potassium, phosphorus, iron, zinc, magnesium, and niacin. Cornmeal has full applications in the food industry, followed by households. Cornmeal is widely used in the bakery, processed food, fast food, and snack industries. Cornmeal is becoming a sustainable and economical solution in the global food industry.
Cornmeal provides rich fiber, as well as nutrients like zinc, potassium, niacin, and many more. Due to its high content of proteins, minerals, and vitamins, cornmeal is also added to animal feed. Cornmeal is widely used in making puddings, desserts, muffins, pancakes, buns, bread, porridge, and many more. For millennia, it has been widely consumed in the form of dried corn and popcorn. For the health-conscious population, it is used in the form of PAM / RTM food products.
Recent Developments
Market Drivers and restraints:
As the world population increases, so does the desire for more food, which translates into increased demand for food and beverages. Cornmeal is an essential good in the food industry in the manufacture of any product. It is one of the industrial raw materials for the food industry, which stimulates the demand for cornmeal in the world food and beverage market. The growing awareness of gluten-free products has increased the demand for cornmeal. The strong presence of people intolerant to gluten has caused the need for food containing corn flour. Companies in the Cornmeal market are capitalizing on this trend in gluten-free products and are expanding their portfolios in cereals, potato chips, cereal alcohol, and breading for frying products. The gluten-free appearance creates a domino effect in the field of cereal-based flours. The increasing demand for gluten-free cereal flour has catalyzed the demand for oats, millet, and cornmeal.
The fast-growing bread industry is also contributing to the growth of gluten-free cornmeal. Companies in the Cornmeal market are increasing their field of additional opportunities by overselling baked goods like bread, cookies, and cakes. There is a growing demand for cereal flours made from cornmeal in the United States, Latin America, and South Asia. The gastronomic trend has recently surrounded many African American cuisines. The culinary roots of grains in the kitchens of South African people are fundamental. The trend for whole and gluten-free grains has spurred the exploration of corn products like ground oats. The primary demand for cornmeal comes mainly from the fast food and bakery sectors. Cornmeal manufacturers have introduced fortified and yeast cornmeal with higher nutritional properties to satisfy and stimulate the growing demand for cornmeal in baked goods. Incorporating cornmeal into food products provides improved dietary benefits and increases the value and demand for the food product.
The increase in the higher disposable income of consumers, changes in eating habits, and western food culture are the main drivers of growth in the Cornmeal market. Millennial people make up a large part of the population that focuses on a healthier life without compromising taste or quality. There are different types of cornmeal formats available, such as whole corn, bolted format, and degermed format. Although the determined cornmeal format is the most widely used, the demand for wholemeal cornmeal is higher due to the high nutrition offered by this format of cornmeal. Furthermore, the growing snack industry is expected to benefit the Cornmeal market due to the increasing popularity and demand for cornflakes, tortilla chips, corn chips, and many other varieties. Mexican dishes that drive substantial growth in the global Cornmeal market. With the modernization of science and technology, cornmeal can be used in a wide range of food products in the coming years. Furthermore, the resulting reduction in the need for additional processing methods has spurred demand for cornmeal in the restaurant industry.
The food trend has recently surrounded many African American cuisines. The culinary roots of grains in South African cuisines are critical. The trend for the whole, gluten-free grains has spurred the exploration of corn-based products like ground oats. Incorporating cornmeal into food products provides better dietary benefits and increases the value and demand for the food product.
Millennials make up a large portion of the population that focuses on living healthier lives without compromising taste or quality. There are different types of corn flour formats available, such as whole corn, bolted format, and degermed format. Additionally, the growing snack industry is expected to benefit the cornflour market due to the increasing popularity and demand for cornflakes, tortilla chips, corn chips, and many other varieties.
Regional Classification and Country Analysis:
On the basis of the geographical segmentation, the global Cornmeal market is segmented into different regions: North America (U.S. and Canada), Europe (U.K., France, Germany and Rest of Europe), Asia Pacific (Japan, China, India and Rest of APAC), Latin America (Brazil, Mexico and Rest of Latin America), and Middle-East & Africa (GCC and Rest of MEA).
In all regions, the cornmeal market is driven by the growing population and the rising demand for food products worldwide. North America is a major consumer of cornmeal through various food products. American consumers prefer fast food and baked goods on a large scale, are very health conscious and know their dishes and food ingredients. Due to these factors, the demand for cornmeal is increasing in the North American regions.
In most of Africa, corn is the staple food, as well as a cereal that is consumed in large quantities throughout the continent. This trend is also found in Latin America. Consumption of traditional food products is stable in Africa and Latin America, which continues to be the largest consumer of cornflour.
The Asia-Pacific region has the maximum population in the world and the fastest rising nations by community and economy. The growing awareness of health benefits is increasing purchasing power and the demand for new flavors is driving consumers to buy corn flour products. The European, Latin America, and Middle Eastern African regions are also expected to experience growth for the cornmeal market.
Cornmeal Market is segmented and Sub-segmented into following below:
Based on Product Type:
Based on Application:
Impact of COVID-19 on Cornmeal Market:
Uncertainty about employment increases, with the likelihood that a point of sale was employed at the closing store. Outlets that will continue to exist will do so with significantly less seating capacity and reduced overall demand due to public perception and reduced unjustified departures, further impacting the number of employees needed. The return of migrant labor to their country of origin will also affect the availability of skilled labor and there may be a shortage of people who are well adjusted to the limited jobs available. It will be a two-sided problem for both operators and F&B employees. As per the industry experts, this phase is survival of the fittest. While many operations deteriorate, some merge with larger companies. Today, as the entire nation grapples with the problem of a global recession, all sectors are in an unprecedented situation where they are forced to make difficult decisions that could have colossal tax effects on their businesses. By being forced to endure this challenge, the F&B sector does so for the benefit of the entire community, although it will take some time to recover from losses incurred during the closing phase. While the strong performance in the last quarter will be austere, expectations for a strong rebound in the days after the close are not predictable and will be a daunting task. The road to profitability will not be easy and companies will need to adopt innovative and more efficient methods of doing business and creating new sources of income to maintain their presence in the market.
Leading Company
Bob’s Red Mill Natural Foods had the largest share of the Cornmeal Market in terms of sales and revenue in 2019.
Key Players
The Cornmeal Market is concentrated with a few prominent players such as Tate & Lyle, Bob’s Red Mill Natural Foods, C.H. Guenther & Son, Gruma, SEMO Milling, Associated British Foods, Dover Corn Products Ltd., Bunge, LifeLine Foods, and Archer Daniels Midland.
1. Introduction
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.1 Introduction
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3. Overview
3.1 Executive Summary
3.2 Key Inferences
3.3 Epidemology
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 Product Type
5.1.1 Introduction
5.1.2 Corn flour
5.1.3 Corn grits
5.1.4 Brewery grits
5.1.5 Wheat flour and mixes
5.1.6 Whole grains
5.1.7 Ready-to-eat cornmeal
5.1.8 Others
5.1.9 Y-o-Y Growth Analysis, By Product Type
5.1.10 Market Attractiveness Analysis, By Product Type
5.1.11 Market Share Analysis, By Product Type
5.2 Application
5.2.1 Introduction
5.2.2 Industrial use
5.2.3 Food services
5.2.4 Retail use
5.2.5 Others
5.2.6 Y-o-Y Growth Analysis, By Application
5.2.7 Market Attractiveness Analysis, By Application
5.2.8 Market Share Analysis, By Application
6. Geographical Analysis
6.1 Introduction
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
6.1.3.1 By Geographical Area
6.1.3.2 By Product Type
6.1.3.3 By Application
6.1.4 Market Attractiveness Analysis
6.1.4.1 By Geographical Area
6.1.4.2 By Product Type
6.1.4.3 By Application
6.1.5 Market Share Analysis
6.1.5.1 By Geographical Area
6.1.5.2 By Product Type
6.1.5.3 By Application
6.2 North America
6.1.1 Introduction
6.1.2 United States
6.1.3 Canada
6.3 Europe
6.2.1 Introduction
6.2.2 U.K
6.2.3 Spain
6.2.4 Germany
6.2.5 Italy
6.2.6 France
6.4 Asia-Pacific
6.3.1 Introduction
6.3.2 China
6.3.3 India
6.3.4 Japan
6.3.5 Australia
6.3.6 South Korea
6.5 Latin America
6.4.1 Introduction
6.4.2 Brazil
6.4.3 Argentina
6.4.4 Mexico
6.4.5 Rest of Latin America
6.6 Middle East & Africa
6.5.1 Introduction
6.5.2 Middle-East
6.5.3 Africa
7. Strategic Analysis
7.1 PESTLE analysis
7.1.1 Political
7.1.2 Economic
7.1.3 Social
7.1.4 Technological
7.1.5 Legal
7.1.6 Environmental
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leaders' Analysis
8.1 Archer Daniels Midland
8.1.1 Overview
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 Cargill
8.3 Associated British Foods
8.4 General Mills
8.5 Gruma
8.6 Tate & Lyle
8.7 Bob’s Red Mill Natural Foods
8.8 Bunge
8.9 LifeLine Foods
8.10 SEMO Milling
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10. Market Outlook and Investment Opportunities
Appendix
a) List of Tables
b) List of Figures
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