“Corn wet-milling market is projected to grow at a CAGR of 5.0% in terms of value”
The corn wet-milling market has grown rapidly in the last few years and is projected to reach a value of USD 77.50 billion by 2021, at a CAGR of 5.0% from 2016 to 2021. The primary factors driving the corn wet-milling market is increasing demand for high fructose corn syrup in processed food & beverage products, increasing consumption of corn gluten meal-based animal feed products in the meat industry, multi-functionality of corn starch in non-food applications, and increasing demand for bio-ethanol products.
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“Dent corn: most widely used corn variety in the wet-milling process”
Dent corn is the most commonly used corn in the corn wet-milling process to manufacture corn syrup, food starch, animal feed, and ethanol. Starch is the major product obtained from dent corn, which is used in various sectors such as food & beverages, textile, paper, pharmaceutical, and personal care.
“Centrifuge system dominated the corn wet-milling market”
The centrifuging process is carried out to recover pure starch from gluten. Pure starch obtained after the centrifuging process is refined to produce ethanol, corn syrup, dextrose, and modified & unmodified cornstarch.
“China and Brazil: The future of the corn wet-milling industry”
According to the National Corn Grower Association, China is the second-largest producer and consumer of corn in the world and Brazil is the fourth-largest region for producing corn products and the fifth-largest region for consuming corn products. In China, corn is used for industrial purposes, for feed in the animal feed market, as well as in the food & beverages market. Moreover, the country’s dense population and increasing demand for corn products have compelled the food processing industry and the animal feed industry to increase their production and bridge the gap between demand and supply. This has, in turn, given an opportunity to the corn sector to secure its position in the food and feed industries of corn starch products by introducing new varieties of products to cater to the rising demands.
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Multinational and local companies are signing collaborations and agreements which are helping to implement new innovative technologies, profitable processing methods, and easy exports to improve the quality of corn products.
Break-up of Primaries:
• By Company Type: Tier 1 – 40 , Tier 2 – 40, and Tier 3 – 20%
• By Designation: C level – 40%, Director level –10%, and Manager level – 50%
• By Region: North America – 20%, Europe – 60%, Asia-Pacific – 20%
The leading players in the corn wet-milling market are Tate & Lyle PLC (U.K.), Archer Daniels Midland Company (U.S.), Cargill, Incorporated (U.S.), Ingredion Incorporated (U.S.), and Agrana Beteiligungs-AG (Austria). Other players including The Roquette Freres (France), Bunge Limited (U.S.), China Agri-Industries Holding Limited (China), Global Bio-Chem Technology Group Company Limited (Hong Kong), and Grain Processing Corporation (U.S.) also have a strong presence in the global corn wet-milling market.
Related Report:
Distillers Grains Market by Type (Dried Distillers Grains with Solubles Dried Distillers’ Grains and Wet Distillers Grains) Source (Corn and Wheat) Livestock (Ruminants Swine and Poultry) and Region – Global Forecast to 2023
“The distillers’ grains market is projected to grow at a CAGR of 6.8%.”
The distillers’ grains market is estimated to be valued at USD 10.78 billion in 2018 and is projected to reach 14.95 billion by 2023, at a CAGR of 6.8% from 2018. The market is driven by distillers’ grains being used as a favorable alternative to traditional feedstock and growth of the organized livestock sector. Lack of awareness in developing countries, fluctuating prices of grains and Ill-effects of excess consumption are the major restraints for the growth of this market.
“Dried Distillers’ Grains with Solubles (DDGS) segment estimated to lead the market with the largest share in from 2018.”
The DDGS segment is estimated to dominate the market for distillers’ grains in 2018. It is also projected to grow at the highest CAGR during the forecast period. Properties such as high protein content, energy, and highly digestible phosphorus content in DDGS are responsible for its growing use as a partial replacement for some more expensive traditional animal feed such as corn and soybean meal.
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