PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1215312
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1215312
Global Corn Gluten Meal Market is valued at approximately USD 8.05 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 4.3% over the forecast period 2022-2029. Corn gluten meal is the primary protein of corn endosperm that mainly comprises zein and glutelin, which is a byproduct of corn processing that has been consumed as animal feed. It does not comprise actual gluten that is manufactured by combining gliadin and glutenin proteins. The growing expenditure on pets, rising awareness regarding the availability of animal healthcare products, and surging demand for high-nutrition corn gluten feed are the key factors for the market growth across the globe.
The rising demand for corn gluten meal in the global market leads to the export of goods in order to meet the consumer's requirement, which, in turn, augments the growth of the market. The U.S. grains council reports that more than 1.86 million tonnes of corn gluten feed and corn gluten meal were exported from the country during the marketing year ended on August 31, 2019. Ireland (23%) and Israel (12%) are recorded as the top two countries that use American corn gluten feed and meal. As a result of these enormous exports, the corn gluten meal market is anticipated to grow at a significant rate. Moreover, the growing need to replace chemically processed and pricier regular feeds, as well as the increasing number of strategic initiatives by the key market players are presenting various lucrative opportunities over the forecasting years. However, the high usage of soy in animal feed and the imposition of stringent norms to meet the quality standards are restricting the market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Corn Gluten Meal Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America dominated the market in terms of revenue, owing to the growing production and consumption of corn gluten meal and high purchasing capacity of the population. Whereas, the Asia Pacific is also expected to grow with the highest CAGR during the forecast period, owing to factors such as the development of the corn starch processing sector, as well as the geographic expansion of key players in the market space.
Recent Developments in the Market:
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values for the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also provides detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
List of tables and figures and dummy in nature, final lists may vary in the final deliverable
List of figures
List of tables and figures and dummy in nature, final lists may vary in the final deliverable