Cornmeal Market: Top Companies, Sales, Revenue, Forecast Forecast 2019 – 2029
According to a new study by Transparency Market Research, the sales of cornmeal are expected to exceed 1.9 million tons in 2019, and record a Y-o-Y growth of ~3% in 2020. The growth of the cornmeal market is due to various factors such as variety of products available, cornmeal replacing white and wheat flour, nutritional benefits of cornmeal, and its increased incorporation in food products.
Rising Incidence of Celiac Disease Creating Demand for Gluten-free Alternatives
People suffering from celiac disease are unable to digest anything that contains wheat. The prevalence of celiac disease in people of all age groups has increased in recent times, with more than 1% of Americans being affected. The detection of celiac disease is more in developed countries. However, in North America, more than 97% of the people suffering from celiac disease are undiagnosed.
The food processing industry has initiated a shift to gluten-free alternatives to target this very consumer group. This has bolstered the growth of demand for cornmeal, especially in the bakery sector, where manufacturers have shifted to using cornmeal as a base ingredient instead of white flour or wheat flour, to target customers who cannot consume baked products made of wheat.
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Stone-ground Milled Corn to Gain Traction among Millennials
Cornmeal made using the stone-ground milling technique is more popular, as it is perceived as an authentic product and is sold at a premium price. Despite the high cost, there is high demand for such premium products from millennial consumers. Although many manufacturers are producing cornmeal using advanced technologies and a generalized process, cornmeal produced using the stone-ground milling process is more popular.
Many traditional cornmeal mills that were closed a long time ago have been bought by new manufacturers to start producing stone-ground cornmeal. Adluh – Allen Bros Milling Company, McHargue’s Mill, etc., are a few such examples.
Gluten-free Trend to Boost Usage of Cornmeal in Food Industry
The consumption of cornmeal has been high in the household sector, especially in Latin America, Africa, and South Asia. However, the demand for cornmeal in the food processing industry is increasing, as there are new applications for cornmeal in this industry. This is a result of consumers’ preference toward healthy food products, and trends such as gluten-free that influence consumer buying patterns. These factors have made it necessary for food processing manufacturers to select healthy ingredients instead of options that are merely economical, so as to increase their customer base. Thus, cornmeal is replacing all-purpose flour and wheat flour in the food processing industry as a healthy and cost-friendly ingredient, and is expected to gain traction in the foreseeable future.
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Global Cornmeal Market: Competitive Landscape
Some of the key players operating in the global cornmeal market are Adluh – Allen Bros. Milling Company, Archer Daniels Midland Company, Anson Mills, Ltd., Bob’s Red Mill Natural Foods, Inc., Bunge Ltd., Cargill Inc., Dover Corn Products, Ltd., General Mills, Inc., Goya Foods, Inc., Grain Millers, Inc., Hometown Food Company, Nunn Milling Co., The Quaker Oats Company, and many more.
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