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“The global dry milling market for corn is projected to grow at a CAGR of 5.5%.”
The global dry milling market for corn is estimated to be valued at USD 67.73 billion in 2017 and is projected to reach USD 88.61 billion by 2022, growing at a CAGR of 5.5% during the forecast period. The main factors that drive the dry milling market for corn are the use of corn as one of the main ingredients in feed, and increasing demand for corn ethanol as biofuel. The major restraints in the dry milling market for corn is the high maintenance to retain corn quality during the harvesting and dry milling processes.
“The ethanol segment, by end product, accounted for the largest share in 2016”
The ethanol segment dominated the dry milling market for corn in 2016. The increased consumption of biofuel in the U.S., Canada, Brazil, and in countries of the EU has brought the imports of petroleum down and is estimated to follow the same trend in future. Countries in Asia are also instituting policies and incentives to increase the demand for biofuels, ultimately increasing their production. In addition, ethanol is considered a clean and low-cost octane booster and provides oil refiners with the lowest-cost solution to upgrade the octane content of gasoline, owing to which it is preferred among fuel suppliers.
“Food segment, by application, is projected to grow at the highest CAGR during the forecast period”
The food application market was the largest in 2016 and is projected to grow at the highest CAGR during the forecast period. This is due to the growing application of corn dry-milled products in snack foods, breakfast cereals, and bakery products. Corn flour, mainly masa flour, is used in the manufacturing of snack foods such as tortilla chips, taco shells, and tortilla bread.
“Asia-Pacific is projected to grow at the highest CAGR during the forecast period”
Developing countries of the Asia-Pacific region represent a potential market for the dry milling market for corn. With China as the largest producer and consumer of corn dry-milled products, the market in this country is projected to grow at the highest rate in Asia-Pacific during the forecast period. China’s large consumer base restricts the export of surplus goods and hence trade prospects within Asian countries seem to be limited. Japan and South Korea are also Asia’s main importers. These countries depend on the imports from the U.S., Brazil, and Argentina, which is expected to create a huge demand for corn dry-milled products in this region.
Break-up of Primaries:
- By Company Type: Tier 1 – 20%; Tier 2 – 45%; and Tier 3 – 35%
- By Designation: Directors – 22%; C Level – 28% and Manager Level – 50%
- By Region: North America – 35%; Europe – 25%; Asia-Pacific – 28%; and RoW – 12%
The key players in the dry milling market for corn are as follows:
• Cargill (U.S.)
• Archer Daniels Midland Company (U.S.)
• Bunge Limited (U.S.)
• SunOpta, Inc. (Canada)
• Didion Milling Inc. (U.S.)
• SEMO Milling, Inc. (U.S.)
• Lifeline Foods, LLC (U.S.)
• Pacific Ethanol Inc. (U.S.)
• Green Plains Inc. (U.S.)
• Flint Hills Resources, LP (U.S.)
• C. H. Guenther & Son, Incorporated (U.S.)
• Valero Energy Corporation (U.S.)
The companies mentioned above collectively accounted for the largest share of the dry milling market for corn in 2016. These players adopted new product launches, acquisitions, expansions, and agreements as their key growth strategies to increase their market share and profits.
The report analyzes the dry milling market for corn across different segments. It aims at estimating the market size and future growth potential of this market on the basis of end product, application, source, and region. In addition, an in-depth competitive analysis of the key players in the market along with their company profiles, DIVE analyses, recent developments, and key market strategies has been provided.
Key Reasons to buy the Report:
- To get an overview of the global dry milling market for corn.
- From an insight perspective, this research report has focused detailed analyses?industry, market share of top players, and company profiles.
- This report also explains high-growth segments of the global dry milling market for corn, its high-growth regions and drivers, restraints, opportunities, and challenges.