Global Corn Wet-Milling market report 2024, Forecast To 2033
1 Mar, 2024
The corn wet-milling market size has demonstrated strong growth, increasing from$76.91 billion in 2023 to$81.17 billion in 2024, with a compound annual growth rate (CAGR) of 5.5%. The growth in the historic period can be attributed to diverse applications in the food industry, the growing global population, high fructose corn syrup (HFCS) demand, biofuel production, feed industry consumption, and increased industrial applications. Looking ahead, the market is expected to experience strong growth, reaching$100.81 billion in 2028, with a CAGR of 5.6%. This growth is fueled by factors such as the rise in clean label and natural ingredients, innovation in value-added products, demand for gluten-free products, focus on animal nutrition, shift in global dietary patterns, and emergence of novel corn varieties. Major trends in the forecast period include digitalization in manufacturing, investment in sustainable practices, strategic collaborations in research, technological advancements in processing, and biorefinery concepts.
Global Corn Wet-Milling Market Key Driver
The rising demand for corn-based products is boosting the growth of the corn wet-milling market going forward. Corn-based products refer to items made of corn such as corn flakes, and flours. The increasing demand for corn-based products increases demand for corn-wet milling as it improves the purity of the product. For instance, in December 2021, according to a report on Regional Corn Competitiveness published by RaboBank, a Netherlands-based banking and financial services company, the global consumption of corn is anticipated to increase by 25% over the next ten years, from 1.14 billion metric tons in 2021 to 1.43 billion metric tons in 2030. Therefore, rising demand for corn-based products will drive the growth of the corn wet-milling market. The corn wet-milling market witnessed significant growth in 2023, reaching a value of $XX billion, and this upward trend is expected to persist through 2024 and onwards.
Get A Free Sample Of The Global Corn Wet-Milling Market ReportGlobal Corn Wet-Milling Market Segments
The global corn wet-milling market covered in this report is segmented –
1) By Source: Dent Corn, Waxy Corn
2) By Equipment: Milling Equipment, Steeping Equipment, Centrifuge Systems, Washing and Filtration Systems, Other Equipments
3) By End-product: Starch, Sweetener, Ethanol, Corn Gluten Meal and Gluten Feed, Other End-Products
By Geography: The regions covered in the corn wet-milling market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa.
North America was the largest region in the corn wet-milling market share in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the corn wet-milling market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Major Corn Wet-Milling Industry Players
Agrana Beteiligungs-AG, Tate & Lyle PLC, Archer Daniels Midland Company, Cargill Incorporated, Ingredion Incorporated, Roquette Freres SA, Grain Processing Corporation, Bunge Limited, Andritz Group, China Agri-Industries Holding Limited, VetterTec GmbH, PerkinElmer Inc., AGC Heat Transfer Inc., Koninklijke DSM NV, The Andersons Inc., Green Plains Inc., Global Bio-Chem Technology Group Company Limited, Grain Millers Inc., Didion Milling Inc., SunOpta Inc., Pacific Ethanol Inc., Valero Energy Corporation, Flint Hills Resources LP, GreenField Specialty Alcohols Inc., The Mennel Milling Company, The Scoular Company, Lamsan Co. Ltd., National Starch LLC, Penford Corporation, Cereal Ingredients Inc., LifeLine Foods LLC
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Corn Wet-Milling Market Overview
Corn wet-milling is a process of physical separation of corn into proteins, starches, oil, and fiber using water and specialized machinery. In this process, the corn kernels are submerged in steep tanks, which are big tanks filled with diluted aqueous sulfur dioxide solution. The kernel is then softened and treated to remove the germ, which is then processed again to remove the highly valuable maize oil.
Corn Wet-Milling Global Market Report 2023 provides data on the global corn wet-milling market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The corn wet-milling market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.