Corn grits are processed food made from dried corn kernels that have been dehydrated and ground into coarse pieces or grits. Corn grits are high in protein, fiber, and antioxidants while being low in fat. They offer a versatile texture that can be enjoyed as a breakfast porridge or incorporated into casseroles, soups, and other dishes as a filling substitute for rice or other grains.
The global Corn Grits 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:
One of the key trends driving growth in the corn grits market is their increasing consumption as a staple food. Corn grits are gaining wider acceptance as an affordable alternative to wheat and rice in many developing regions. Their adaptability to a variety of cooking methods and culinary applications has made them a preferred daily diet option. Consumption of corn grits as a staple cereal has been rising steadily especially in Africa and Latin America. Manufacturers are widening the availability of corn grits to capitalize on this trend. They are marketing corn grits for their high nutritional value and versatility as a healthy base for various local cuisine. The staple food status of corn grits in developing world markets is expected to boost their demand significantly over the forecast period.
Segment Analysis
The global corn grit market is dominated by the retail segment as corn grit finds wide application in household cooking and breakfast cereals. Retail segment accounts for nearly 65% share of the overall market as consumers prefer to purchase corn grit from retail stores for personal consumption. Foodservice segment is another major segment and it includesconsumption of corn grit in hotels, restaurants and cafes.
Key Takeaways
The global Corn Grits Market Size is expected to witness high growth. The global corn grits 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 corn grit market and is expected to maintain its leading position over the forecast period. Rapidly growing demand for gluten-free and Non-GMO breakfast cereals and snacks is driving the growth of corn grit market in the region. Asia Pacific is anticipated to be the fastest-growing market for corn grit between 2023 and 2030. Increasing health consciousness and rising disposable income in developing Asian countries such as India and China is fueling market growth.
Key players
Key players operating in the corn grit market are Cargill Incorporated, Archer Daniels Midland Company (ADM), Bunge Limited, Ingredion Incorporated, Tate & Lyle PLC. Cargill Incorporated is the global leader in production and sales of corn grit. The company offers corn grit under the brand name ‘Maizena’ for use in bakery, snacks, and households worldwide.
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