When it comes to snacks, corn flakes are always on the top of the priority list for health-conscious consumers. Roasted corn flakes are a rich source of fiber, nutrition, vitamin, and minerals, and are also low in cholesterol.
Furthermore, they contains low fat, and are easier to digest. In addition, some manufacturers are mixing almonds, cashews, and other dry fruits in roasted corn flakes to improve the nutritional content and taste of the end product. These products are popular among all age groups, which is expected to further drive the global roasted corn market.
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- SunOpta Inc.
- N. L. Food Industries
- Barberá Snacks SL
- Vaishnav Food Products
- Nenimemi Foods Pvt Ltd
- Del Monte Food, Inc.
- H.J. Heinz Company Brands LLC
- AIM Biscuits
- Fresh Nuts GmbH
Rising Demand for Roasted Corn from Bakery Producers
The popularity of roasted corn is increasing among bakery manufacturers. Roasted corn bakery products are gaining traction among consumers, owing to their fine texture and flavor. These snacks are more popular among health-conscious consumers, as they are considered highly nutritious.
The changing eating habits of consumers are forcing convenience bakery product manufacturers to incorporate roasted corn into their products. These factors are expected to fuel the growth of the global roasted corn market over the coming years.
- Pavilions, a U.K.-based bakery manufacturer, provides roasted cornbread; this product is made fully from roasted corn dough.
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Roasted Corn - Emerging Trend in Animal Feed Industry.
The feed industry is one of the largest consumers of corn, mostly in the form of raw corn. Increasing demand for healthy meat and dairy products is encouraging farmers to use quality products to feed animals in terms of promoting the healthy growth of livestock, poultry, and animals.
Roasted corn can increase the nutrient level of grain, enhance digestibility, transform saturated fat to unsaturated fat, preserve lecithin, increase palatability, and enhance the overall health of the animal.
Roasting can effectively remove mold spores and reduce toxin levels that are harmful to livestock, swine, and poultry. Owing to these factors, the demand for roasted corn is increasing in the animal feed industry.
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Increasing Popularity of Roasted Corn Snacks to Improve Growth Prospects
The demand for healthier snacks is increasing as consumers now favor a healthier lifestyle. Roasted corn has better texture and is a rich source of vital nutrients, and it also enhances the flavor of the finished product.
These factors have compelled manufacturers to opt for roasted corn in order to produce tastier and healthier snack products. Furthermore, flavored roasted corn snacks are also in high demand among consumers.
- For instance, SunOpta offers roasted corn snacks. These products are also available in honey, ranch, salted, and other flavors.
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Growing Popularity of Multigrain Products
It has become increasingly necessary in recent times to produce snack foods with high nutritional quality that are also affordable for consumers. Multigrain products contain high nutritional value, since they include a combination of different grains and cereals, which offers several health benefits.
These products contain high amounts of fiber and protein, which reduces the risk of heart ailments, obesity, and other diseases. Additionally, products such as roasted multi-grain snacks and flours are increasingly becoming popular among consumers.
For instance, the consumption of roasted multigrain chips has considerably increased. This is attributable to increasing consumer preference for healthy snacks. These factors are expected to drive the growth of the global roasted corn market in the foreseeable future.
North America and Latin America Together Dominate Global Market
North America and Latin America together have been identified as the largest producers and consumers of roasted corn across the globe, accounting for more than 60% share of the global roasted corn market.
Increasing number of vegans in North America is positively impacting the growth of the roasted corn market. Also, the growing feed industry in North America and Latin America is bolstering the growth prospects of the roasted corn market in these regions.
East Asia is expected to witness substantial growth over the forecast period of 2020-2030, followed by South Asia. Countries in this region are anticipated to emerge as the next potential markets for manufacturers offering roasted corn.
The trend of ‘being vegan’ is also gaining momentum in this region, which is anticipated to accelerate the growth of the roasted corn market in emerging economies of East Asia and South Asia.
Impact of COVID 19 on Roasted Corn Market
The COVID-19 pandemic has brought the global economy to a screeching halt, resulting in fiscal hardships to several markets. With food and grains being no exception to the pandemic’s economic impact, the roasted corn market will certainly witness adverse consequences.
With snacks manufacturing being a major end use, disrupted production is likely to reduce the demand for roasted corn. Furthermore, restrictions on travel are disordering the supply chain and trade movement of agriculture and food commodities, thereby resulting in the spoilage of perishables, increasing food and agriculture waste, and hampering the growth of the roasted corn market.
East Asia and South Asia are anticipated to register the highest growth in the global roasted corn market over the forecast period of 2020-2030, while North America remains the top consumer of roasted corn, followed by Latin America. Key players could gain higher profits by focusing on the snacks and convenience food sector, along with the animal feed industry.
In 2020, the COVID 19 pandemic is majorly affecting the growth of the food & beverage industry. Key players in the roasted corn market are facing its impact on production and the supply chain. All major countries around the globe have announced lockdowns to counter the COVID 19 pandemic.
These countermeasures are directly impacting their economies, which is ultimately leading to the reduced growth of the global roasted corn market, which is likely to leave a footprint on the global food & beverage market for the next couple of years at least.
Global Roasted Corn Market: Segmentation
PMR’s study on the global roasted corn market offers information categorized into four segments - nature, form, end use, and region.
Key Questions Answered in Report
- How much is the roasted corn market worth?
The global roasted corn market is estimated to be worth US$ 2.3 Bn in the year 2021.
- What will be the demand outlook?
The global roasted snacks market is expected to witness a CAGR of 6% between 2021 and 2031.
- What was the last 5 year market CAGR?
The roasted corn market witnessed a CAGR of 4.9% between 2015 and 2020.
- What are the key trends for roasted corn market?
The latest trend is that of switching over to nutritional diet, which is expected to bolster the roasted corn market between 2021 and 2031.
- What is driving the demand for roasted corn?
The fact that roasted corn helps in curtailing risk of obesity, heart ailments, and various other ailments is driving the demand for roasted corn.
- What is the market share of top 5 players?
The top 5 players including SunOpta Inc., N. L. Food Industries, Laxcorn, Barbera Snacks SL, and Del Monte Food, Inc. hold more than 60% of the market share.
- What are the top 5 countries driving demand?
The top 5 countries driving demand include the US, India, Germany, China, and UK.
- What is North America’s market Outlook?
North America holds more than 25% of the market share and will continue to do so going forward as well.
- At what percentage roasted corn market is going to register growth in Europe?
Europe is expected to register growth at the rate of 4.5% between 2021 and 2031.
- What is the key market statistics in Korea and Japan?
Japan and Korea are expected to go steady in the roasted corn market between 2021 and 2031.