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Roasted corn is among the major potential crops utilized for manufacturing various processed foods such as bakery products, beverages, snacks. The roasted corn also has a non-food application such as in the animal feed as it is easier to digest which leads to increase in milk production. The roasted corn has a higher percentage of starch than the raw corn and hence, is preferably used for producing corn starch. The roasted corn is a rich source of fibre, antioxidants and minerals as well as having a low-fat content which makes it an ideal choice for healthy snacks. Further, many manufacturers are launching new organic and non-GMO roasted corn products due to the increasing demand of consumers for such products, which aids its market growth.
The consumption of ready-to-eat snacks and food products has increased among the consumers that positively impacts in the growth of roasted corn market. The roasted corn is mixed with various other grain ingredients to produce different types of multigrain products such as snacks and breads. The multigrain products have high nutritional value, since they are a combination of various cereals and grains, offering various health benefits. The growing popularity of healthy snacks products which are roasted or baked among the millennial population due to its nutritious and low-fat content. This has thus, positively impacted the roasted corn market growth.
The roasted corn offers a stronger, robust and crunchy taste which is either directly consumed as a snack or is utilized as an ingredient in many snacks and convenience food products. The consumption of roasted snacks over fried snacks in recent years has gained popularity among the consumers which has contributed in the roasted corn sales performance. The consumers prefer roasted or baked snacks as they are a healthier alternative to the fried ones which is a major factor that drives its market growth. Further, the growing supply chain has made the roasted corn products easily available in the market, that aids its market performance.
The disruptions in the raw material prices for making roasted corn is a major factor that hampers its market growth. The corn is cultivated only in certain countries in the world which leads to fluctuations in the corn price due to the transportation. The taxes on corn imports and exports also varies in different regions that influences the overall rise in the prices of end products. Moreover, the seasonal dependency for the cultivation of the crop also impedes its market growth.
Key Market Driver -
Growing Demand for Roasted Snacks
Key Market Restraint -
Disruptions in Raw Material Prices
The key companies operating in the global roasted corn market are, N. L. Food Industries, Laxcorn, Barberá Snacks SL, H.J. Heinz Company Brands LLC, SunOpta Inc., Del Monte Food, Inc., AIM Biscuits, Fresh Nuts GmbH and The Naked Nut Growers
The roasted corn market is segmented by form, category, application, and geography. The whole roasted corn segment, among the other forms is accounted to hold a major share in the market due to its wide consumption as snacks and also as an ingredient for preparing various other snacks such as crispy corn and crackers. The flour segment is witnessing a significant growth owing to its wide utilization as a binding agent in various baked products. The organic roasted corn segment is leading due to the growing consumers inclination towards organic food products due to their perceived health benefits. The organic products are free from any artificial fertilizers and pesticides and hence, are considered to be comparatively healthier than the conventional variants.
The food and beverage application sector is holding the major share in the market. The bakery segment is leading followed by the snacks due to the increase in consumption roasted and baked goods by the consumers. The roasted corn flour is used in bakery items to give them a better crumb strength and also increases the tenderness of the grain. The roasted corn flour is also used as a filler, binder and thickener in cookies and pastries.
North America is the fastest-growing market for the roasted corn owing to the presence of the U.S. in the region which is the largest producer of corn. The abundant availability of raw material for the roasted corn production is one of the major factors driving its regional market. The strong supply chain in the region makes the raw material availability easy to the manufacturers for further processing. The rise in vegan trend in the region has nudged the consumers to shift towards plant-based snacks, which positively impacts its market growth.
Europe is expected to observe significant growth in the upcoming years due to the increase in consumption of convenience foods. The rise in trend of healthy snacking between the meals among the working population has also contributed in the market growth. Many processed food manufacturers are launching various innovative roasted and baked corn snacks using techniques such as nixtamalization to reduce the nutrient wastages further, aids its market growth.
Asia Pacific region is anticipated to witness a significant growth in the roasted corn market due to the increase in the population coupled with rise in per capita food consumption. The rapid urbanization and increase in disposable income of the consumers are attributable for the changing dietary habits. The increasing reliance on semi-processed and processed food products to make food preparation convenient has contributed in the regional roasted corn market growth
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