According to the latest market research 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 2016-2020.
This market research report by Technavio provides an in-depth analysis of the market in terms of revenue and emerging market trends. The report also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.
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Technavio research analysts categorize the cornmeal market in the US based on product type:
Cornmeal market in the US share by product type 2015
|
Brewery grits |
75.95% |
|
Corn flour |
10.10% |
|
Ready-to-eat cornmeal |
3.71% |
|
Corn grits |
3.29% |
|
Whole grains |
1.11% |
|
Wheat flour and mixes |
0.83% |
Source: Technavio
The top four revenue contributing product segments are discussed below:
Brewery grits market in the US
The brewery grits market in the US accounted for around 76% share of the cornmeal market in the US. The increasing demand for beer in the US is driving the brewery grits market. The substitution of corn or rice for 10%-20% of the malt helps in lowering the total amount of protein in the mash, resulting in a bright, chill-proof, and shelf-stable beer.
“The US beer manufacturers prefer corn grits as they are cheaper than barley malt, and reduce the cost of production. The Brewers Association, the craft brewers’ trade group in the US, updated that there will be a limitation in the use of corn or rice for the brewing process, which has created opportunities for the use of corn grits in brewery as craft beer accounted for over 16% revenue of the total beer market in 2015,” says Manjunath Reddy, a lead analyst at Technavio for research on food.
Between 2014 and 2015, the number of breweries in the US that manufacture craft beer increased by around 18% which has a positive impact on the demand for brewery grits.
Corn flour market in the US
Corn flour is the most extensively used ingredient for tortilla production in the US and is increasingly utilized in a vast range of applications, including pancakes mixes, snack foods, cookies, extruded cereals, ready-to-eat cereal, bakery mixes, and meat extenders. This extensive use of corn flour will drive growth in the market during the forecast period. Moreover, the growing demand for corn flour are compelling the US snack manufacturers, such as Gruma Group and Bunge to focus on increasing their production capabilities to cater to the market demand. The demand for corn masa flour is mainly driven by the Hispanic population in the US, who use the corn masa flour to make staple foods such as taco shells, tortilla, corn chips, and tamales. In 2016, Food and Drug Administration (FDA) permitted the voluntary fortification of corn masa flour with folic acid, which allows the manufacturers to add folic acid of 0.7 mg per pound. The consumption of folic acid by pregnant women helps in preventing neural tube defects in babies.
Ready-to-eat cornmeal market in the US
The growing uses of corn in food items like medium-grade cornmeal in hearth bread, bread or muffin coatings, pizzas, and bakery blends drives the ready-to-eat cornmeal market in the US. Coarse cornmeal is used for manufacturing extruded snacks. Over the last few years, fine-grade uniform cornmeal has become popular in the US and is used directly in extruded cereals and muffins and dry bakery mixes.
Corn grits market in the US
The increasing use in hot cereals, ready-to-eat cereals, and extruded cereals propels growth in the corn grits market in the US. Corn grits are also used in making pizza and as an ingredient in a various range of bakery applications. Corn grits are often served as a breakfast food when they are boiled in water to make a porridge; this provides essential nutrients that are useful in maintaining energy levels, and are good for health. The fiber content in grits helps in feeling full for longer time and promotes better digestive functioning. For instance, Polenta is a breakfast dish popular in the Italian and other European cuisine and is also gaining popularity in the US. These corn grits can even add texture and flavor to lunch and dinner meals.
The top leading vendors operating in the cornmeal market in the US are:
- Archer Daniels Midland
- Associated British Foods
- Bob’s Red Mill
- Bunge
- Cargill
- General Mills
- J.M. Smucker
- LifeLine Foods
- Maseca (Gruma Group)
- Raymond-Hadley
- SEMO Milling
Other prominent vendors in the market include Agricor, CGB Enterprises, C. H. Guenther & Son, Hodgson Mill, King Arthur Flour, Lakeside Mills, Shawnee Milling Company, Suntava Purple Corn, Tate & Lyle, and Wilkins Rogers Mills.
A more detailed analysis is available in the Technavio report titled, ‘Cornmeal Market in the US 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Baked Savory Snacks Market 2016-2020
- Global Processed Snacks Market 2016-2020
- Global Extruded Snacks Market 2016-2020
- Global Meat Snacks Market 2016-2020
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