Cornmeal Market Competitive Analysis 2021 – Archer Daniels Midland, Bunge, Gruma
Cornmeal is a type of meal made from grounding of dried corn. Corn is also known as maize. Cornmeal can be grounded into various forms like fine, medium and coarse form. It is not comparable to wheat flour which is very fine in texture. Cornmeal is used as an additive to many recipes, such as pancakes and cornbread. Meal prepared from corn is also used as an alternative to wheat flour for the people with celiac disease or gluten intolerance. Corn flour provides high fibers along with nutrients such as zinc, potassium, niacin, and many more. Due to its high protein, mineral, and vitamin content cornmeal is also added into the livestock feed.
Cornmeal finds widespread application in making pudding, desserts, muffin, pancakes, rolls, bread, porridge and many others. Among millennia’s, it is widely consumed in the form of dry maize and popcorns. For the health conscious population, it is used in the form of RTE/RTM food products.
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Top Companies: Archer Daniels Midland, Bunge, Gruma, Cargill, Tate & Lyle, Andersons, Associated British Foods, Bob’s Red Mill, Grupo Bimbo, General Mills, Inc and others.
Market Dynamics and Trends:
The major demand sector for cornmeal is the bakery & fast food market. Meal globalization, changing taste preferences and rising demand for corn-based products and high disposable income is propelling the growth of the cornmeal industry worldwide. Also, with growing innovations in bakery industry further enhances the popularity of this sector
Corn has high starch content, due to this it gives puffiness to the extruded snacks and processed food products. Also, corn-based products are highly preferred by the population mainly because of no artificial ingredient, hence catering to the health-conscious segment. Also, rising market of craft beer which includes corn grits is further driving the growth of the market. However, major contamination and changing climate factors causing fluctuations in the supply of corn are likely to hinder the market growth.
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Market Segmentations and Scope of the Study:
Global cornmeal market share is analysed on the basis of product, application, and geography. On the basis of product the market is divided into blue cornmeal, yellow cornmeal, stone-ground cornmeal, and white cornmeal. By application, food processing, RTE corn-based products, food service, household, beer, animal feed, and others. The regional analysis of the market comprises of North America, Europe, Asia Pacific, and Rest of the World.
Rising demand and continuous product innovations of the likes of corn ingredients, increasing globalization of Latin American recipes, growing disposable income, technology advancements in terms of packaging and labeling are driving the global cornmeal market.
The global cornmeal market is witnessing sharp change in consumer demands due to rising health conscious population. Vendors in the market formulate their products according to the Hispanic demographics, as they constitute the largest consumer base for corn-based products. Product distribution and assortment are the two main areas where vendors are targeting to increase their sales and market penetration. Also, increasing food innovations and types of corn foods which are resulting in growing consumer base and a strong competition in terms of advertising. Therefore, it is important for the manufacturers to have a thorough knowledge of the culture, retail landscape, consumer preferences, and dynamics, while launching any new product in the market.
Established vendors are using market strategies of alliances and partnerships and such trends are expected to gain eminence in the cornmeal market. Further, the trending of dry corn flour processing method instead of the conventional- cooked-corn method by many vendors would have a significant impact on the market.
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