PUBLISHER: The Business Research Company | PRODUCT CODE: 1270422
PUBLISHER: The Business Research Company | PRODUCT CODE: 1270422
“Corn Wet-Milling Global Market Report 2023 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on corn wet-milling market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for corn wet-milling ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The corn wet-milling market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Major players in the corn wet-milling market are Agrana Beteiligungs-AG, Tate & Lyle Plc., Archer Daniels Midland Company, Cargill Incorporated, Ingredion Incorporated, The Roquette Freres, Grain Processing Corporation, Bunge Limited, Andritz Group, China Agri-Industries Holding Limited, VetterTec, PerkinElmer Inc., and AGC Heat Transfer.
The global corn wet-milling market is expected to grow from $73.02 billion in 2022 to $77.03 billion in 2023 at a compound annual growth rate (CAGR) of 5.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The corn wet-milling market is expected to grow to $93.58 billion in 2027 at a CAGR of 5.0%.
The corn wet-milling market consists of sales of heating and cooling systems, dryers, and utility equipment. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
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.
North America was the largest region in the corn wet-milling market in 2022. 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 and Africa.
The main sources of corn wet-milling are dent corn and waxy corn. Dent corn refers to a kind of corn which has kernels that ripen and has a dent at the top. The dent corn is used as the base ingredient for cornmeal flour, tortillas, corn chips, and taco shells. The various equipment used in corn wet milling are milling equipment, steeping equipment, centrifuge systems, washing and filtration systems, and others. The end-products include starch, sweetener, ethanol, corn gluten meal and gluten feed, and others.
The rising demand for corn-based products is boosting the growth of the corn wet-milling market going forward. Corn-based products refers 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 innovative product is a key trend in gaining popularity in the corn wet-milling market. Major companies operating in the corn wet-milling market are focused on developing innovative solutions for corn processing to strengthen their position in the market. For instance, in December 2020, Novozymes, a Denmark-based biotechnology company specializing in production of industrial enzymes, microorganisms, and biopharmaceutical ingredients, launched Fortiva Hemi. It is a cutting-edge solution that brings revolutionary enzymes to liquefaction, enabling unrivalled substrate conversion to offer the greatest possible maize oil and ethanol outputs. Enzymes enable the manufacture of carbohydrates and protein to produce at a cheaper cost.
In December 2021, Komline-Sanderson Corporation, a US-based designer and manufacturer of industrial equipment acquired Fluid Quip, Inc. for an undisclosed amount. The acquisition of Fluid Quip widens Komline-Sanderson's product offering in the industry. Fluid Quip, Inc. is a US-based manufacturer of capital equipment for the agri-tech, corn wet-milling and ethanol industries.
The countries covered in the corn wet-milling market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The corn wet-milling market research report is one of a series of new reports from The Business Research Company that provides corn wet-milling market statistics, including corn wet-milling industry global market size, regional shares, competitors with a corn wet-milling market share, detailed corn wet-milling market segments, market trends and opportunities, and any further data you may need to thrive in the corn wet-milling industry. This corn wet-milling market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.