Cornmeal is derived by grinding dried corn into a fine, medium or coarse consistency. Cornmeal is available in various types such as white and yellow. It has a high vitamin and mineral content and is a good source of protein for livestock.
Based on type, the global cornmeal market has been segmented into white cornmeal, yellow cornmeal, and others. The yellow cornmeal segment accounted for the maximum market share in 2017 and is expected to grow at a higher rate during the forecast period due to the easy availability of and high preference for this type of cornmeal in North America. White cornmeal is mainly preferred in South America, parts of Africa, and Australia; thus, the segment is expected to account for a substantial share of the market during the forecast period.
The global cornmeal market has been segregated, by category, into organic and conventional. The conventional segment is expected to dominate the global cornmeal market during the assessment period. However, the organic segment is expected to grow at a higher CAGR during the forecast period owing to the rising preference of consumers for organic products. The awareness of the benefits of organic products is increasing, which is expected to drive the growth of the segment.
Some of the key players in the global cornmeal market are Archer Daniels Midland Company (US), Cargill, Incorporated (US), Bunge Limited (US), Didion, Inc. (US), SEMO Milling, LLC (US), General Mills, Inc. (US), Agricor (US), Dover Corn Products Ltd (Canada), Weisenberger Mills Inc. (US), and Atkinson Milling Co. (US).
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The global market for cornmeal has also been classified, by application, as food & beverage, animal feed, and others. The food & beverage segment is expected to dominate the market due to the widespread use of cornmeal in the preparation of bakery products. The food & beverage segment has further been divided into bakery and confectionery, sweet and savory snacks, breakfast cereals, and others. The sweet and savory snacks segment is expected to register the highest CAGR during the forecast period owing to the increasing demand for corn-based snacks.
On the basis of region, the global cornmeal Industry has been segmented into North America, Europe, Asia-Pacific, and the rest of the world. North America is expected to dominate the global cornmeal market owing to the increasing prevalence of gluten intolerance and celiac disease, especially in the US. Moreover, corn is considered a staple food in Mexico which is also driving the growth of the regional cornmeal Industry.
The market in Asia-Pacific is expected to grow rapidly due to the increasing adoption of healthy, gluten-free diets by the rising health-conscious population. Emerging markets such as China and India are projected to contribute to the growth of the regional cornmeal Industry. China is the largest market for animal feed, where cornmeal is being increasingly used.
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