by Corn grits are course, grain particles produced through grinding dried corn kernels. They have gained widespread popularity as a convenient and inexpensive breakfast food option. Corn grits can be prepared and consumed in various ways such as porridge, pancakes, cornbread, etc. making them highly versatile. The easy preparation method and various recipe options have augmented their demand among millennial consumers adopting fast-paced lifestyle.
Corn grits are rich in dietary fiber, antioxidants, vitamins and minerals which provide several health benefits. Their high fiber content helps promote digestive health and weight management. Antioxidants present in corn grits protect cells from damage and lower risk of chronic diseases. Consumption of corn grits aids heart health by lowering cholesterol and blood pressure levels. The global corn grits market offers a plethora of health advantages to consumers.
The global Corn Grits Market is estimated to be valued at US$ 1032.31 Bn in 2024 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:
One of the key trends witnessed in the corn grits market is the launch of innovative product variants catering to evolving consumer tastes. Corn grits manufacturers are developing new flavors such as rosemary and herb, cheddar cheese, jalapeno etc. Flavored corn grits have gained widespread acceptance among young consumers looking for exciting taste options. Furthermore, corn grits products fortified with extra nutrients are also gaining traction. For example, corn grits enriched with protein, fiber, vitamins and minerals to provide an extra nutritional boost. Such product innovations are expected to drive the demand for corn grits over the forecast period.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate. While corn grit production has relatively low barriers of entry, established brands have economies of scale and customer loyalty that deter new competition.
Bargaining power of buyers: The bargaining power of buyers is high. Large retail chains can negotiate lower prices from suppliers due to their high purchasing power and ability to switch between corn grit brands.
Bargaining power of suppliers: The bargaining power of suppliers is moderate. A few large suppliers dominate the corn supply chain, however corn is a commodity and buyers have alternatives if prices rise too high.
Threat of new substitutes: The threat of new substitutes is high. Other breakfast cereals, snacks and baked goods can replace corn grits depending on consumer preferences and price points.
Competitive rivalry: Competition in the corn grit market is intense as major companies compete on quality, flavor innovations and marketing.
Key Takeaways
The Global Corn Grit Market Demand is expected to witness high growth. The global Corn Grits Market is estimated to be valued at US$ 1032.31 Bn in 2024 and is expected to exhibit a CAGR of 13% over the forecast period 2024 to 2031.
North America currently dominates the corn grit market owing to the large production and consumption of corn in the region. The U.S. is one of the largest producers and consumers of corn globally.
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 Incorporated and Archer Daniels Midland Company (ADM) are among the largest producers and suppliers of corn grit. These companies are focusing on new product launches, acquisitions and expanding their production and distribution facilities globally to strengthen their market position.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
