The global roasted corn market achieved a significant valuation of approximately US $2.46 billion in 2022, showcasing remarkable growth potential in the coming years. With a projected compound annual growth rate (CAGR) of 6.20% from 2023 to 2028, the market is poised to reach a value of US $3.52 billion by 2028.
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An Increase in Demand from Bakery Producers:
Over the past decade, roasted corn has been gaining popularity among bakery owners. The unique flavor and texture of corn have driven consumer preference for corn-infused bakery items, leading to increased demand from bakery producers. This trend has contributed to the growth of the roasted corn market in recent years.
The Increase in Demand from Consumers:
Apart from being used as a raw material for further production, roasted corn is also sought after by consumers as a main ingredient in snacks. With a growing focus on healthier lifestyles and the avoidance of MSGs, consumers are turning to roasted corn for its nutritious and delicious attributes. Its compatibility with popular snacks and its ability to enhance flavor have enabled manufacturers to meet consumer demand effectively.
The Demand for Grain Alternatives:
As consumers look for alternatives to wheat, the demand for gluten-free and multigrain products has increased. Roasted corn cereals and other products provide a suitable grain alternative, offering enhanced nutrition and helping individuals prioritize their health. This trend has fueled the growth of the roasted corn market and is expected to continue in the coming decade.
Market Opportunities:
The Benefits of Roasted Corn in Animal Feed:
Roasted corn is commonly used in animal feed, as it enhances the quality of meat and dairy products. By incorporating roasted corn into animal diets, it improves their digestive systems and reduces unhealthy fat content. This results in healthier meat and dairy products for human consumption, creating opportunities for market expansion.
The Demand for Healthier Snacks:
With the fast-paced lifestyle and the increasing demand for healthier snack options, roasted corn has gained popularity. It can be processed into an artificial sweetener, providing an alternative for individuals looking to reduce their sugar intake. Roasted corn is also used to produce Xantham gum, a gluten-free thickening and binding agent, meeting the need for healthier snack alternatives.
Market Challenges:
Availability:
One of the major challenges faced by the roasted corn market is its seasonal availability. Corn is planted from April to June and harvested from October to November, resulting in limited supply throughout the year. This can lead to increased prices due to decreased availability.
Hygiene:
Maintaining hygiene in roasted corn production is crucial for ensuring product quality. Stricter quality control regulations and implementations are required in processing facilities to address hygiene concerns. Additionally, maintaining hygiene during transportation is essential to prevent contamination.
Competitive Landscape:
Key players in the roasted corn market include Grau Nuts – Productos Grau SA, Foodlink, Fresh Nuts GmbH, The Naked Nut Growers, Laxcorn, AIM Biscuits (PT Aneka Indomakmur), American Nut Company, Go Craize, and others.
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