Market
Introduction:
Cornmeal
is a meal grounded from dried corn. Corn is widely known as maize
also. Cornmeal is a widely used staple food in many parts of the
countries. It can be grounded into various consistencies like fine,
medium and coarse form. It cannot be compared to wheat flour which is
so fine in texture. The very finely grounded cornmeal is known as
corn flour. Cornmeal is added to certain recipes, such as cornbread
and pancakes, and it can also be cooked to make Polenta and grits. It
is a good alternative to wheat flour for people who have gluten
sensitivity or celiac disease. It provides a good content of fibers
in diet and it also provides food nutrients like Iron, Zinc, and
Niacin, potassium, phosphorus and magnesium too.
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Cornmeal
serves wide application in making desserts, puddings, muffins,
pancakes, bread, rolls and waffles, porridge and many others. Among
youngsters, it is widely consumed in the form of popcorns made of dry
maize. Among the health-conscious millennials, it is widely used in
the form of RTE/RTM food products due to their changing lifestyle
patterns and busy schedules.
Market
Segmentation:
Cornmeal
market can be segmented on the basis of form, nature, product type,
end use, distribution channel, and region.
On
the basis of form, cornmeal market can be segmented into corn flour,
corn grits, whole corn grain, corn mixes and corn syrup.
On
the basis of nature, cornmeal market can be segmented into organic
and conventional.
On
the basis of product type, cornmeal market can be segmented into Blue
cornmeal, Steel ground yellow cornmeal, stone-ground cornmeal and
white cornmeal. Blue cornmeal is violet or light blue in color and is
made from whole blue corn and has a sweet flavor. Steel-grounded
yellow cornmeal has husk and germ of the maize kernel almost removed
completely and is widely used in U.S. Stone ground cornmeal retains
some of the hull and germ adding more flavor and nutritional content
to the dish. Whereas, white cornmeal, is made from white corn is
consumed in parts of Africa and U.S. and used for making cornbread.
On
the basis of end use, cornmeal market can be segmented into
commercial (food processing), household and food service sector. In
food processing sector it is widely used to make cornbread, RTE
corn-based products, craft beer and many others. In food service
sector it is widely used for making corn soup, popcorns, and many
others.
On
the basis of the distribution channel, cornmeal
market can be segmented into direct and retail sales. Direct
sales refer to direct selling of corn as an ingredient to other
industries. Retail sales are further segmented into convenience
stores, grocery retailers, online retailers, and other retailing
formats.
Drivers,
Restraints, and Trends:
The
key demand of Cornmeal market includes mainly from bakery & fast
food market and from food manufacturers. Changing tastes,
westernization of food meals, rising demand for corn-based snacks
products and higher disposable income is fueling the growth of market
worldwide. Also, the growing innovations in bakery industry if
further finding popularity in this sector. Mainly the demand for
corn-based snacks like the corn chip, tortilla chips, taco shell and
wide variety of other Mexican food is driving the market in various
regions worldwide. Cornmeal and corn flour contains high starch
content, which gives puffiness to the processed or extruded snack
products. Also, corn-based snacks are highly preferred by people due
to no addition of artificial ingredients and hence catering to the
health-conscious segment. Rising popularity of craft beer which
constitutes corn grits is further driving the market.
Fluctuations
in the supply of corn due to changing climatic conditions and
contamination issues are the major issues which are likely to hinder
the market growth.
However,
the transition from traditional cooked corn-based dishes to dry corn
flour method for further processing is the new trend among bakers and
food processors. This transition can be also seen among the
traditional dishes a well. Established vendors are forming
partnerships and strategic alliances, and such trends are gaining
prominence in the cornmeal market.
Regional
Outlook:
In
North America and Europe, growing penetration for organic products,
manufacturers are also optimistic about the growing demand for
organic corn-based foods in the regions. For instance, Bob's Red Mill
offers organic corn flour, organic cornmeal pancake mix and other in
its portfolio. The changing demographics in the American landscape is
attracting more consumers for Mexican food products like snacks and
Mexican baked foods, where corn is the main ingredient used widely.
Hence, rising consumption for organic food products & healthy
breakfast food products is expected to fuel the demand in the coming
years.
Asia
Pacific market excluding Japan is expected to trace the fastest pace
in the upcoming years. India is projected to hold a major chunk due
to westernization of fast food trends, availability and demand for
RTE/RTC/RTM food products, changing lifestyle and eating patterns and
rising disposable income. Also, food innovators are holding a major
chunk by contributing in its wide application in bakery and snack
manufacturing. And the traditional ‘makki da roti' is widely
consumed in the South Asian market.
A
typical dish Polenta is widely consumed in Latin America countries
like Brazil, Argentina, Mexico, Paraguay, Venezuela, and others.
Tortillas, a type of thin, unleavened flat bread, is made from finely
ground maize is a popular food in the Mexican market since years and
the market is expected to grow in the projected period.
Key
Players:
Some
of the prominent players of Cornmeal are Archer Daniels Midland,
Cargill, Arrowhead Mills, Tate & Lyle, Bunge, General Mills,
Bob’s Red Mill, Gruma, Quaker Oats, Surya foods and various other
regional manufacturers.
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