Corn-Wet Milling Market – Introduction
Corn-wet milling is a process that refines the corn through steps such as cleaning, steeping, milling, germ separation, fine grinding, screening and separation of starch and gluten. Increased consumption of corn starch, corn edible oil, corn syrup as well as corn and gluten-based meal in the animal feed industry is set to propel the growth of the corn-wet milling market during the forecast period.
Improved technological capabilities, energy saving business models and a steady supply of corn crop are important factors propelling the revenues of corn-wet milling market. Major business strategies leveraged by leading corn-wet milling market stakeholders are capacity expansion and increased corn supply to accommodate the increased global demand for corn-based products.
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Corn-Wet Milling Market – Notable Developments
Few of the key players in the corn-wet milling market include Agrana Beteiligungs-AG, Ingredion Inc., Archer Daniels Midland Company, Inc., Cargill, Bunge Limited, Agri-Industries Holding Limited, Grain Processing Corporation and Roquette Corporate among others.
- In October 2018, Ingredion, Inc., a leading global player in the corn-wet milling market announced the investment of $60 million with an aim to expand the company’s business in the Asia Pacific region including expansion of corn-wet milling and starch production capacity in China.
- In October 2018, Sayaji Industries Ltd., a prominent Indian corn-wet milling business company initiated the collaboration with Alland & Robert, a global provider of natural exudates.
- In September 2018, Cargill India, a prominent player in corn-wet milling market announced an additional investment of around US$ 40 million with an aim to start manufacturing of modified starch products at the company’s corn-wet milling plant at Davangere, India.
- In April 2018, Gujarat Ambuja Exports Ltd. announced the commencement of the proposed greenfield project of the company with the capacity of 1000 TPD corn-wet milling at Maharashtra, India.
Corn-Wet Milling Market Dynamics
Manufacturers to Target Increased Corn Sourcing to Accommodate Corn-Wet Milling Capacity Expansions
Leading stakeholders in the corn-wet milling market are actively engaged in the expansion of corn-wet milling facilities owing to the rising demand for corn products across the globe. With the surging demand for corn-related products, food manufacturers engaged in corn-wet milling landscape have increased the sourcing of corn to meet the increased demand. Also, the positive forecast of the grain supply including corn and favorable trade activities also complement a steady corn supply, thereby accommodating increasing demand for corn-based and modified starch products leading to corn-wet milling market growth.
Corn-Wet Milling Market Players Seek Energy Star Business Model for Cost Savings
Within the different food industry verticals, corn-wet milling is considered the most energy-intensive industry while accounting for about 15% of the entire food industry energy requirement. Approximately US$ 20 to 30 million are spent annually on energy in a typical corn-wet milling plant in the United States. This energy cost ultimately adds to the overall production cost of modified starch products. In a bid to increase the predictable earnings by reducing the energy costs, stakeholders are engaged in seeking energy star business models. Such business planning is also helpful during the period of high energy-price volatility. There are several research programs related to water and energy management in the field of corn-wet milling process are underway to develop a cost, energy as well as water saving process without compromising on yield and quality.
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Rising Application in End-Use Industries to Fuel the Corn-Wet Milling Market Growth
Demand for corn-based products ranging from corn syrup to animal feed to ethanol has increased significantly across the globe. The sweetener category is the highly sought-after variant owing to its natural origin. Consumption of ethanol is also increasing against the backdrop of increased preference for motor fuels. Also, demand for corn products that are rich in amino acids, digestible fibers, protein and other important nutrients is increasing significantly in the food and beverage industry. A significant surge in the demand for corn products in multiple end-use verticals is set to boost the growth of corn-wet milling market in the coming years.
Corn-Wet Milling Market – Regional Outlook
A bulk of global revenues of corn-wet milling market are likely to concentrate in the Asia Pacific region owing to the buoyancy in the end user industry ranging from textile to pharmaceutical. Europe, North America and Japan are other lucrative corn-wet milling markets. Other emerging countries in the Middle East and Africa also represent potential opportunities for corn-wet milling market stakeholders.
The regional analysis covers:
- North America
- Latin America
- Asia Pacific
- Middle East and Africa
Highlights of the report:
- A detailed analysis of key segments of the market
- Recent developments in the market’s competitive landscape
- Detailed analysis of market segments up to second or third level of segmentation
- Historical, current, and projected future valuation of the market in terms of revenue and/or volume
- Key business strategies adopted by influential market vendors
- Outline of the regulatory framework surrounding and governing numerous aspects of the market
- Growth opportunities in emerging and established markets
- Recommendations to market players to stay ahead of the competition
This post was originally published on The Market Plan