The global roasted corn market has been witnessing steady growth since the past few years, and this growth trend is projected to continue throughout the forecast period of 2020-2030, at a CAGR of 5%.
Roasted corn is one of the popular ingredients widely used in the preparation of snacks and convenience food. Roasted corn complements a variety of snacks and convenience food. As a result, it is being increasingly used to enhance the taste and nutritional value of end products in the food industry. In some countries such as India, China, the U.K., and others, roasted corn is consumed directly by just roasting the whole corn. Roasted corn also improves digestibility, transforms saturated fat into unsaturated fat, and increases level of starch in snacks and convenience food. As a result of all these factors, roasted corn is being increasingly used in snacks and convenience food across the world.
The COVID 19 pandemic has been adversely affecting the growth of the food & beverage industry. Key players in the roasted corn market are facing its impact on the production and supply chain. This is expected to impede the growth of the global roasted corn market in the near term.
Key Takeaways of Roasted Corn Market Study
- Roasted corn is majorly used in the production of various convenience food and snacks, owing to the changing eating habits of consumers across the globe.
- North America and Latin America are projected to hold the highest value and volume share in the global roasted corn market.
- The increasing popularity of plant-based diets provides a substantial thrust to the global roasted corn market, as nutritious roasted corn is used for the preparation of healthy as well as vegan snacks for health-conscious consumers.
- The conventional segment, in terms of nature, is projected to hold the highest value and volume share in the global roasted corn market over the forecast period of 2020-2030.
- The whole roasted corn segment, under form, is projected to register a significant growth rate in the global roasted corn market over the forecast period.
- The roasted corn market in South Asia, followed by Latin America, is anticipated to register significant growth over the forecast period.
“Roasted corn is mainly used for the manufacturing of delicious snacks and also for direct consumption. Manufacturers of roasted corn could gain more profits by positing their products as organic, non-GMO, and vegan, and by targeting plant-based snack manufacturers through strategic alliances and collaborations. Due to COVID-19, the trade of agriculture and food commodities has been disrupted, which is resulting in the spoilage of perishables and increasing food and agriculture waste, thus hampering the growth of the roasted soybean market,” says a PMR analyst.
Impact of COVID 19 on Roasted Corn Market
As the number of infections across the world is skyrocketing, many retail and food stores have closed down, directly impacting the sales of roasted corn, among other multi-grain products. Furthermore, price cuts on agricultural commodities are expected, and this is likely to reduce profit margins. Similarly, stringent regulations against travel are restricting trade movements, thus adversely affecting market growth. On a positive note, Del Monte Food Inc., a leading player, recently announced that the organization is striving to get food products delivered in these tough times. Steps like this will ensure that there is steady consumption, thereby creating demand for production.
Global Roasted Corn Market: Competitive Landscape
Key players in the global roasted corn market are focusing on increasing their penetration in markets such as Europe, Asia Pacific, and the Middle East and Africa, to expand their regional footprint. Some of the major players in the global roasted corn market, such as Menard, Inc., Morski Brands, Inc., Castanea, Natures All Foods, Del Monte Food, Inc., Natierra, and others, are engaged in increasing their organic portfolios, owing to increased demand for organic roasted corn products. Key players are also focused on providing clean label, gluten-free, non-GMO products to their consumer.
Explore More Valuable Insights on Roasted Corn Market
Persistence Market Research, in its new report, offers an impartial analysis of the global roasted corn market, presenting historical data (2015-2019) and estimation statistics for the period of 2020-2030. The study offers compelling insights on the roasted grain market based on nature (organic and conventional), form (whole, splits, and flour), and end use (beverages, bakery, snacks & convenience food, animal feed, and others), across seven regions.
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