Corn grits are coarse, granular products made by drying and processing corn kernels. They are used as a substitute for rice or other grains in cereals, casseroles, soups, etc. due to their nutritional richness. Corn grits contain fiber, vitamins, and minerals that promote digestion and heart health. The convenience offered by corn grits-based packaged food products has driven their demand among time-strapped consumers.
The global Corn Grit Market is estimated to be valued at US$ 1032.31 Bn in 2023 and is expected to exhibit a CAGR of 13.% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increasing consumption of convenience food products has been a key growth driver for the corn grit market. With rising disposable incomes and busy lifestyles, consumers prefer ready-to-eat packaged foods incorporating corn grits. This is accelerating the demand for corn grits from major food processing companies. Furthermore, corn grits have a longer shelf-life than alternative grains which has prompted manufacturers to develop various shelf-stable corn grit-based food options. The availability of nutrient-rich instant porridges, soups, and snacks containing corn grits caters to the growing appetite for healthy convenience options. Corn grits' versatile functionality and nutritional profile make them well-suited for developing portable meals consumed on-the-go. This trend is expected to continue promoting the sales of corn grits over the forecast period.
Segment Analysis
The global corn grit market is dominated by the yellow corn grit segment. Yellow corn grits are primarily used for making corn bread and corn muffins. They have a milder flavor compared to white corn grits. Yellow corn grits are preferred by customers looking for convenience food products with a subtle corn taste.
Key Takeaways
The Global Corn Grit Market Demand is expected to witness high growth during the forecast period. The global Corn Grit Market is estimated to be valued at US$ 1032.31 Bn in 2023 and is expected to exhibit a CAGR of 13% over the forecast period 2024 to 2031.
North America is currently the dominant region in the global corn grit market. The US is the largest producer and consumer of corn in the world. Increased demand for convenience food products is driving the sales of corn grits in the region.
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, Didion Milling, Semo Milling, Agrana Beteiligungs-AG, The Andersons, Inc., LifeLine Foods. Cargill and ADM captured over 35% of the global market share in 2020. The companies are focusing on new product launches catering to changing customer tastes.
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