Cornmeal Market Outlook
Cornmeal market size was valued at US$ 690 Million in 2020 and is expected to grow at 3.9% from 2021 to 2027, reaching nearly US$ 901 Million.
Cornmeal is made by pulverizing dried maize into a fine, medium, or coarse powder. Cornmeal comes in a variety of colors, including white and yellow. It is a wonderful source of protein for animals and contains a lot of vitamins and minerals.
The global cornmeal market is divided into three types: white cornmeal, yellow cornmeal, and others. Due to the easy availability and high preference for this type of cornmeal in North America, the yellow cornmeal segment accounted for the largest market share in 2020 and is predicted to increase at a faster rate throughout the forecast period. Because white cornmeal is popular in South America, portions of Africa, and Australia, it is likely to account for a significant share of the market during the forecast period.
The global cornmeal market has been segregated, by category, into organic and conventional. The conventional segment is expected to dominate the global cornmeal market during the assessment period. However, the organic segment is expected to grow at a higher CAGR during the forecast period owing to the rising preference of consumers for organic products. The awareness of the benefits of organic products is increasing, which is expected to drive the growth of the segment.
The global market for cornmeal has also been classified, by application, as food beverage, animal feed, and others. The food beverage segment is expected to dominate the market due to the widespread use of cornmeal in the preparation of bakery products. The food beverage segment has further been divided into bakery and confectionery, sweet and savory snacks, breakfast cereals, and others. The sweet and savory snacks segment is expected to register the highest CAGR during the forecast period owing to the increasing demand for corn-based snacks.
Key Players
Some of the key players in the global cornmeal market are Archer Daniels Midland Company (US), Cargill, Incorporated (US), Bunge Limited (US), Didion, Inc. (US), SEMO Milling, LLC (US), General Mills, Inc. (US), Agricor (US), Dover Corn Products Ltd (Canada), Wiesenberger Mills Inc. (US), and Atkinson Milling Co. (US).
Regional Analysis
Based on region, the global cornmeal market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world. North America is expected to dominate the global cornmeal market owing to the increasing prevalence of gluten intolerance and celiac disease, especially in the US. Moreover, corn is considered a staple food in Mexico which is also driving the growth of the regional cornmeal market.
The cornmeal market in Asia-Pacific is expected to grow rapidly due to the increasing adoption of healthy, gluten-free diets by the rising health-conscious population. Emerging markets such as China and India are projected to contribute to the growth of the regional cornmeal market. China is the largest market for animal feed, where cornmeal is being increasingly used.
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