LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the cornmeal market in the US is expected to grow at a CAGR of close to 2% during the forecast period.
This research report titled ‘Cornmeal Market in the US 2016-2020’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes an up to date analysis and forecasts for various market segments and all geographical regions.
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The report categorizes the cornmeal market in the US into three major end-user segments. They are:
- Industrial sector
- Retail sector
- Foodservice sector
Cornmeal market in US in industrial sector
According to Manjunath Reddy, a lead analyst at Technavio for food research, “In the industrial sector, brewery grits, corn starch, and corn flour are the most widely used corn milling products.” The market demand for cornmeal products is attributed to the growing demand for corn-based snacks including tortilla chips, corn chips, taco shells, and a wide variety of other popular Mexican foods. Snack manufacturers in the US are now increasingly using a coarser granulation of cornmeal for obtaining snacks with a crunchy texture.
High fructose corn syrup (HFCS), a popular sweetener, is obtained through an enzymatic process where the glucose from corn syrup or starch is converted into fructose. HFCS being sweeter than sucrose, a comparatively smaller quantity is required to achieve the desired level of sweetness, making HFCS a more cost-effective alternative to sucrose. However, with growing health concerns, HFCS is increasingly being replaced with low-calorie sweeteners. Liquid corn sweeteners, which are made from the starch of corn, are food syrups mainly composed of glucose and are still used in a wide range of applications such as baking, carbonated soft drinks, condiments, desserts, confectionery, and ice-cream.
Manufacturers such as Gruma Group under the Maseca brand offer grits for beer manufacturing, owing to the growing demand for beer in the US. According to Technavio analysis, the beer market in the US was valued about USD 106 billion in 2015. This is further fueling market demand.
Cornmeal market in US in retail sector
The cornmeal market in the US is expected to grow at a CAGR of close to 2% during the forecast period. The retail market in the US is largely driven by corn grits, ready-to-eat cornmeal, and corn flour. Corn flour is used by most American households for baking and confectionery. Masa corn flour is used by the Hispanic households in the US in making their staple foods. Corn grits are gaining popularity as breakfast foods. Suntava, a plant-based specialty ingredients manufacturer in the US and now a part of Healthy Food Ingredients (HFI) company, developed a purple corn syrup suitable for beers, jams, nutritional bars and confectionery and bakery food products. It offers certified organic and gluten-free products.
Cornmeal market in US in foodservice sector
The foodservice market in the US is the largest in the global foodservice market. Corn flour and cornmeal are increasingly utilized by the foodservice industry in the US for baking, pizza, and pancake mixes. Manufacturers such as Lakeside Mills offer Yelton's Best SELF-RISING Corn Meal, Yelton's Best PLAIN Corn Meal, Blue Ribbon YELLOW MEDIUM Corn Meal, especially for the foodservice sector. Another market player Wilkins Rogers Mills offers cornmeal products including cornmeal and cake flour to chain restaurants to single-unit establishments in different sizes as per the customer needs. Its Indian Head Stone Ground Yellow Corn Meal is used by the best chefs across the US.
According to Technavio analysis, the foodservice market in the US is anticipated to grow at a CAGR of over 3% during the forecast period. “With the steadily growing foodservice market, the demand for cornmeal products will remain constant during the forecast period,” says Manjunath.
Some of the top vendors highlighted by Technavio’s food and beverage research analysts in this report are:
- Archer Daniels Midland
- Associated British Foods
- Bob’s Red Mill
- Bunge
- Cargill
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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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