by The global corn grit Market is estimated to be valued at US$ 896.1 Mn or Mn in 2023 and is expected to exhibit a CAGR of 5.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Corn grits are coarse ground cornmeal made from dried corn. Corn grits are gaining popularity as they can be used as an alternative to oats. Corn grits are high in fiber, protein and antioxidants. They aid in weight management and digestion.
Market key trends:
One of the key trends in the corn grit market is the increasing demand for gluten-free products. Gluten intolerance and celiac disease are on the rise globally. Corn being naturally gluten-free is attracting health-conscious consumers. Manufacturers are launching new corn grit products targeted towards the gluten-free population. Another trend is the improved distribution channels for corn grits. E-commerce platforms are ensuring wider availability of specialty products like corn grits. This is expanding the outreach of corn grit producers. Furthermore, rising health-awareness about the digestive health benefits of high-fiber foods like corn grits is propelling the market growth.
Market key trends:
Some of the key trends observed in the corn grit market are increasing demand for convenient food products and rise in the demand for gluten-free products. Corn grit is often used as a substitute for oats and other grains in breakfast cereals and convenient snacks due to its ease of preparation. The demand for gluten-free products has been on the rise owing to the increasing incidence of gluten intolerance and celiac disease. Corn grit is naturally gluten-free and offers a viable alternative to other grains for health-conscious consumers.
SWOT Analysis
Strengths: Corn grit is naturally gluten-free, making it suitable for consumers with celiac disease or gluten intolerance. It is easily digestible and provides fiber and nutrients.
Weaknesses: Corn grit does not have the same taste and textural properties as oats or wheat. It requires substantial processing to be converted into a usable form.
Opportunities: Growing demand for gluten-free, convenient, and healthy food products presents an opportunity to promote corn grit. Increasing incidence of lifestyle diseases will drive interest in nutritional grains.
Threats: Stiff competition from alternative gluten-free grains such as quinoa, millet, buckwheat poses challenges. Fluctuating costs of raw materials is also a concern.
Key Takeaways
The Global Corn Grit Market Size was valued at USD 896.1 Mn in 2023 and is expected to reach USD 1,486.1 Mn by 2030, expanding at a CAGR of 5.7% during the forecast period. Growth in demand for gluten-free convenience foods is the major factor driving the market.
Regionally, North America dominates the corn grit market, with the US being the largest consumer. Increased focus on health, changing dietary habits, and rising awareness about celiac diseases are some factors contributing to demand growth in the region. The Asia Pacific market is expected to witness highest growth over the forecast period. Rapid urbanization, rising income levels, and growing health consciousness are expected to support market expansion in the region.
Some of the leading players in the corn grit market are Cargill Incorporated, Archer Daniels Midland Company, Bunge Limited, Ingredion Incorporated, Tate & Lyle PLC, Didion Milling, Semo Milling, Agrana Beteiligungs-AG, The Andersons, Inc., and LifeLine Foods. Companies are focusing on new product development and introducing convenient corn grit-based snacks to cater to changing dietary habits.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
