LONDON--(EON: Enhanced Online News)--Technavio has announced the top five leading vendors in their recent global cornmeal market report until 2021. This research report also lists nine other prominent vendors that are expected to impact the market during the forecast period.
“The global cornmeal market size is projected to grow to over 152 million metric tons by 2021, at a CAGR of close to 2% over the forecast period. The growth in the baking industry is one of the key drivers responsible for the growth of the market”
The research study by Technavio on the global cornmeal market for 2017-2021 provides a detailed industry analysis based on end-user (industrial sector, retail sector, and foodservice sector), product (brewery grits, corn flour, corn grits, whole grains, and wheat flour), and geography (the Americas, APAC, Europe, and MEA).
“The global cornmeal market size is projected to grow to over 152 million metric tons by 2021, at a CAGR of close to 2% over the forecast period. The growth in the baking industry is one of the key drivers responsible for the growth of the market,” says Manjunath Reddy, a lead analyst at Technavio for food research.
Competitive vendor landscape
The global cornmeal market is witnessing rapidly changing consumer demands driven by a rise in health consciousness. Vendors in the market formulate their products to suit the taste of the Hispanic demographic since they are the largest consumers of corn-based products. Product assortment and distribution are the two important aspects for vendors to increase their market penetration and increase sales. Also, new corn food products are resulting in new consumers and a strong competition in terms of advertising. Therefore, it is imperative for manufacturers in the market to have a thorough knowledge of the retail landscape, culture, dynamics, and consumer preferences and their purchasing habits while launching any new product in the market.
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Top five vendors in the global cornmeal market
Archer Daniels Midland
Archer Daniels Midland is one of the world’s largest agricultural processors and food ingredient providers, serving customers in more than 140 countries globally. The company’s primary business segments include oilseed processing, corn processing, agricultural services, and wild flavors and specialty ingredients.
Bunge is a vertically integrated food and feed ingredient company that is engaged in the supply of agricultural commodities and specialized food ingredients to a wide range of customers ranging from the animal feed, food processors to foodservice, and bakery industries. It is one of the largest corn dry millers in the world and supplies milled corn products to the leading food manufacturers.
Cargill operates in the corn milling sector and is one of the leading manufacturers of dry corn ingredients, corn sweeteners, corn gluten meal, and other value-added products globally. Cargill Corn Milling operates a facility in Cedar Rapids, Iowa, US.
Gruma is engaged in corn and flour tortilla production globally. The company produces wheat flour and its derivatives such as flatbreads, wraps, chapatti, pizza bases, and other food products. Its corn flour division is primarily engaged in the production, distribution, and sales of corn flour in Mexico under the MASECA brand.
Tate & Lyle
Tate & Lyle, along with its subsidiaries, offers ingredients and solutions to the food and beverage industry and other industries in the UK and other regions across the world. The company’s liquid corn sweeteners are food syrups composed mainly of glucose obtained from corn starch. Corn syrup is used to soften texture, add volume, prevent crystallization of sugar, and enhance the flavor of foods.
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, resellers, and end-users.
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