Roasted Corn Market Hits US $2.46 Billion Valuation in 2022, Expects Strong Growth Ahead
The global roasted corn market achieved a noteworthy valuation of approximately US $2.46 billion in 2022, highlighting its potential for substantial growth in the coming years. Projections indicate a compound annual growth rate (CAGR) of 6.20% from 2023 to 2028, with the market set to reach a value of US $3.52 billion by 2028.
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Roasted corn, a widely consumed grain globally, offers a wealth of vitamins, fiber, and minerals, making it a nutritious choice for consumers. Its antioxidant properties have also contributed to its popularity among health-conscious individuals.
The roasting process enhances the starch content of corn, making it a sought-after ingredient for the production of corn starch. Furthermore, roasted corn serves as a key component in various processed snacks and foods, adding both flavor and fiber.
The growth of the roasted corn market has been fueled by several prevailing market trends. The increasing global preference for vegan products and the rising demand for instant meals and snacks have propelled its popularity. Additionally, as consumers gravitate towards healthier lifestyles and opt for gluten-free options, roasted corn has gained favor over popped corn due to its perceived health benefits.
Bakery producers have played a significant role in driving the demand for roasted corn. The distinct flavor and texture of corn have enticed bakery owners to incorporate roasted corn into their products, meeting the preferences of consumers seeking corn-infused bakery items.
Furthermore, consumers themselves have shown a growing inclination towards snacks with roasted corn as the main ingredient. Health-conscious individuals appreciate the nutritional value and delightful taste of roasted corn, which seamlessly complements popular snacks without compromising flavor. This consumer demand has been met effectively by manufacturers.
The rising demand for grain alternatives has also contributed to the expansion of the roasted corn market. With consumers adopting gluten-free lifestyles and seeking multigrain options for enhanced nutrition, roasted corn-based products, including cereals, have gained substantial traction. Roasted corn allows individuals to prioritize their health by reducing the risk of heart disease, obesity, and high cholesterol levels.
The animal feed sector presents promising opportunities for the roasted corn market as well. Roasted corn is widely used in animal feed to enhance the quality of meat and dairy products. By optimizing the digestive systems of animals and reducing unhealthy fat content, the market contributes to the production of healthier meat and dairy options for human consumption.
Moreover, the growing demand for healthier snacks has opened new avenues for roasted corn. It can be processed into an artificial sweetener as a sugar substitute and utilized to produce Xantham gum, a gluten-free thickening and binding agent.
However, the roasted corn market does face certain challenges. Seasonal availability poses a constraint as corn is only planted from April to June and harvested from October to November, resulting in limited supply throughout the year. Maintaining hygiene during roasted corn production and transportation is also crucial to ensure product quality and prevent contamination.
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 other prominent industry participants.
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