by Corn grits is a coarse ground cornmeal widely used in baking products such as breads and pizza crusts. It is gluten-free and provides a crunchy texture to baked goods. The demand for corn grits is rising significantly owing to the growing health consciousness among consumers and rising cases of celiac disease.
The global Corn Grit Market is estimated to be valued at US$ 896.1 Mn in 2023 and is expected to exhibit a CAGR of 13% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends
The increasing cases of celiac disease and gluten intolerance across the world has propelled the demand for gluten-free products. According to a report by Celiac Disease Foundation, around 1% of the global population suffers from celiac disease. Corn grits is a suitable substitute for wheat flour for celiac patients. The rising awareness about health benefits of corn grits and growth in the number of people opting for gluten-free diets is a major factor fueling the sales of corn grits. Manufacturers are investing in new product launches to cater to the growing demand from health-conscious consumers as well as celiac patients. Various fortified corn grits offerings have entered the market in recent years to offer added nutritional value.
SWOT Analysis
Strength: Corn grits are high in fiber content and provide various health benefits such as lower cholesterol, managing blood sugar levels, and weight management.
Weakness: Corn grits require more time for processing as compared to other breakfast cereals.
Opportunity: Increasing awareness about the health benefits of consuming fiber-rich foods and low-GI breakfast options is fueling the demand for corn grits.
Threats: Rising prices of corn due to unpredictable weather conditions and fluctuations in crop yields pose challenges for corn grit producers.
Key Takeaways
The global Corn Grits Market Size is expected to witness high growth. Rapid urbanization coupled with increased spending on convenience food products has positively impacted market growth. The global corn grit market is estimated to be valued at US$ 896.1 Mn in 2023 and is expected to exhibit a CAGR of 13% over the forecast period 2023 to 2030.
North America currently dominates the global market and is expected to maintain its leading position during the forecast period. Easy availability of raw materials and wide usage of corn grits in breakfast cereals, bakery, and snacks drive the market in the region.
Key players operating in the corn grits market are Cargill Incorporated, Archer Daniels Midland Company (ADM), Bunge Limited, Ingredion Incorporated, Tate & Lyle PLC, Didion Milling, Semo Milling, Agrana Beteiligungs-AG, The Andersons, Inc., LifeLine Foods. These companies focus on new product launches and expansion strategies to strengthen their market position. For instance, in 2022, Bunge Limited opened a new corn mill in Europe to meet the growing demand for corn products.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
