The rapidly changing consumer demands and the rising popularity of gluten-free products may serve as prominent growth pillars for the cornmeal market during the assessment period of 2019-2029
– Considering all the growth-influencing factors, the global cornmeal market is extrapolated to expand at a CAGR of ~4 percent between 2019 and 2029
ALBANY, N.Y., Dec. 7, 2020 /PRNewswire/ — The towering food and beverage industry is witnessing tremendous advancements. Various food-enhancing materials are also gaining considerable momentum across the food and beverage industry. Cornmeal is one of them. The escalating utilization of cornmeal in the baking process and the escalating need for cornmeal in preparing gluten-free food products are bringing enormous growth prospects for the global cornmeal market.
Cornmeal is derived from grinding dried corn into varied consistency types like medium, fine, or coarse according to the requirement. It is available in a plethora of types such as white, blue, and yellow cornmeal. The growing utilization across a variety of products and the easy availability of cornmeal across many regions may serve as vital growth factors for the cornmeal market.
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As per the researchers at Transparency Market Research (TMR), the global cornmeal market is expected to expand at a CAGR of ~4 percent across the forecast period of 2019-2029. The global cornmeal market was valued at ~US$ 775 mn in 2019.
The growing demand from a large chunk of the global populace, especially the millennial category for healthy foods without compromising on the taste is expected to lay a red carpet of growth across the cornmeal market. The benefit of cornmeal for atherosclerosis patients is being utilized by the manufacturers as a golden growth opportunity. The magnifying patient pool diagnosed with atherosclerosis is expected to help the cornmeal market to generate extensive revenue.
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Cornmeal Market: Transparency Expert Diagnosis
The analysts at Transparency Market Research predict stable growth for the cornmeal market during the forecast period. The analysts highlight the initiatives taken by organic farmers about introducing grain share programs for making the consumers aware of the heritage of cornmeal. They opine that this aspect will help the cornmeal market to gain immense growth.
The analysts also shed light on the efforts of the companies in the cornmeal market to gain approval for clean labels, such as ‘whole-grain cornmeal’ to satisfy consumer needs. The analysts further advise the players to increase their focus on enhancing the quality of cornmeal used in baking applications.
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Cornmeal Market: Major Findings
- On the basis of end-use, the household/retail segment is expected to hold a large share among other end-users with an estimated output of ~986,700 metric tons by the end of 2029
- North America may gain a dominant position in terms of regional growth contribution for the cornmeal market across the forecast period of 2019-2029
- Latin America and Africa are further anticipated to observe lucrative growth through the assessment period of 2019-2029
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Cornmeal Market: Growth Boosters
The large-scale utilization of cornmeal in chips, cereals, breading for frying products, and grain alcohol may bring promising growth between 2019 and 2029.
- The extensive use of cornmeal in innovative food coating systems may serve as great growth generators for the cornmeal market
- The rising number of health-conscious customers is prompting hoteliers to use grain-based cornmeal mixtures in meals to boost nutrition values, thus accelerating the growth prospects
Cornmeal Market: Restraints
Cornmeal has large carbohydrate content which deters many individuals from consumption. In addition, corn is difficult to digest and contains high sugar and fat content. This aspect has led consumers to search for better substitutes for cornmeal. All these factors may have a negative impact on the growth of the cornmeal market.
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Global Cornmeal Market: Segmentation
- Whole Grain Cornmeal
- Bolted Cornmeal
- Degerminated Cornmeal