by Corn grits have gained tremendous importance as an ingredient in various food products such as pasta, snack foods, breads and more. Corn grits provide nutritious carbohydrates to food products and add texture and volume. Its nutritional profile makes corn grits a functional ingredient in healthy breakfast cereals and baby foods. It is also used as an animal feed ingredient. The versatile nature and various functional properties of corn grits have led to burgeoning demand from food industries. Emerging applications of corn grits in ready-to-eat and on-the-go food products catering to fast-paced life have further augmented market growth.
The global Corn Grit Market is estimated to be valued at US$ 896.1 Mn in 2024 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 the corn grit market is increasing demand for gluten-free products. Gluten intolerance and celiac disease have become common globally. This has led to spike in demand for gluten-free ingredients in various food products. Corn grits are naturally gluten-free and therefore, sought after ingredients in gluten-free pasta, baked goods and snacks. Manufacturers are innovating new product launches catering to gluten-free population. Secondly, clean label and organic certification of corn grit products have gained traction. Consumers closely scrutinize labels for non-GMO and organic claims while making purchase decisions. Key players are focusing on organic certification and removing artificial ingredients and colors to produce clean label corn grits.
Porter’s Analysis
Threat of new entrants: The threat of new entrants in the corn grits market is moderate as the market requires large investments and established supply chains.
Bargaining power of buyers: The bargaining power of buyers in the corn grits market is high as the product is a low value commodity and buyers can switch to alternatives easily.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as there are many suppliers present in the market but they do not influence pricing.
Threat of new substitutes: The threat of substitutes is moderate as there are various alternatives present like oats, wheat, and rice but corn grits have established itself as a popular choice.
Competitive rivalry: The rivalry between existing competitors is high as the market is fragmented with global and local players competing on pricing and innovation.
Key Takeaways
The global Corn Grits Market Size is expected to witness high growth over the forecast period driven by increasing demand for convenience food products. The global corn grit market is estimated to be valued at US$ 896.1 Mn in 2024 and is expected to exhibit a CAGR of 13% over the forecast period 2023 to 2030.
North America dominates the global market currently due to large corn cultivations and established manufacturers in the region. Europe is projected to be the fastest-growing market during the forecast period. This is attributed to increasing awareness about health benefits of corn grits and rising demand for breakfast meals.
Key players: 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. They are focusing on new product launches and capacity expansions to strengthen their position in the market.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
