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According to the Technavio’s analysts, the global cornmeal market is anticipated to grow at a steady rate and will post a CAGR of close to 2% during the forecast period. The growing popularity of craft beer will drive the growth prospects for the global cornmeal market for the next four years. With the updated definition of the craft beer to include the limited use of adjuncts such as corn or rice in the brewing process, the use of corn grits in the brewery as craft beer is also increasing. Also, craft breweries are seeking opportunities to come up with new products to increase their presence in the market. Furthermore, it has been observed that the number of breweries is also increasing across the globe, which, in turn, will drive the growth rate of global cornmeal market. For instance, the number of a craft brewery in the US is increased by 18.1% in 2015 compared with 2014.
In terms of geography, the Americas accounted for the majority market share during 2016 and will continue to dominate the market during the forecasted period. According to the industry research report, the demand for cornmeal products in the Americas is growing due to the rising demand for corn snacks including corn chips, tortilla chips, taco shells, and a wide variety of other popular Mexican foods. Also, the addition of whole cornmeal and corn flour in the making of snacks gives a high puff in the preparation of processed or extruded snack products due to the presence of high starch content in it.
The global cornmeal market is highly competitive and diversified due to the presence of a large number of regional and international vendors across the globe. Also, these vendors increasingly take into consideration the region's retail landscape, culture, dynamics, and consumer preferences before launching any new product in the market. According to the cornmeal market analysis report, several manufacturers are creating strong distribution channels due to the intensifying competition and growing demand for corn-based foods.
Key vendors in this market are -
Other prominent vendors in the market include Andersons, Associated British Foods, Bob’s Red Mill, C.H. Guenther & Son, General Mills, Grupo Bimbo, LifeLine Foods, SEMO Milling, and Suedzuckerd.
The industrial sector accounted for the majority market share during 2016 and will continue to dominate the market until the end of 2021. It has been observed that corn milling products in corn mills such as brewery grits, corn starch, and corn flour are the most widely used products in the industrial sector. The cornmeal market share and size is expected to witness growth in the forthcoming years.
The global market for brewery grits accounted for the majority market share during 2016 and will continue to dominate the market until the end of 2021. One of the major factors responsible for the market segment’s growth is the increasing demand for beer on a global level. This will have a positive impact on the cornmeal market growth.
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PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by end-user
PART 07: Market segmentation by product
PART 08: Geographic segmentation
PART 09: Key leading countries
PART 10: Market drivers
PART 11: Impact of drivers
PART 12: Market challenges
PART 13: Impact of drivers and challenges
PART 14: Market trends
PART 15: Vendor landscape
PART 16: Key vendor analysis
PART 17: Appendix
PART 18: Explore Technavio
Tags: corn flour, organic food, food service industry, food additives, cornmeal industry growth, food market analysis,
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