(I-BusinessNews.Com, April 03, 2020 ) The report “Corn Wet-Milling Market by End Product (Starches, Sweeteners, Ethanol, and Gluten Feed & Gluten Meal), Application (Feed, Food, and Industrial), Source (Dent and Waxy), and Equipment (Milling, Steeping, and Centrifuge System) – Global Forecast to 2021″, The market for corn wet-milling products is projected to reach USD 77.50 Billion by 2021, at a CAGR of 5.0%.
The growing demand for high fructose corn syrup in processed food & beverage products, increasing consumption of corn gluten meal-based animal feed products in the meat industry, multi-functionality of corn starch in non-food applications, and increasing demand for bio-ethanol products are the factors driving the demand of corn wet-milling products.
Feed application is growing at the highest CAGR in the corn wet-milling market
On the basis of application, the corn wet-milling market is segmented into food, feed, and industrial. Feed application dominated the corn wet-milling market and is projected to grow at the highest CAGR from 2016 to 2021, due to increasing consumption of corn gluten meal-based animal feed products in the meat industry. Growing demand for abundant, safe, and affordable animal proteins is driving the market for corn wet-milling in the animal feed industry.
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Corn wet-milling applications in feed, food, and industrials space drive the growth of this market
Feed
The end products of the corn wet-milling process such as corn gluten meal, corn gluten feed, corn germ meal, corn steep liquor, and amino acids are used in feed. Corn gluten is used in dairy & cattle, poultry, and swine feed while corn steep liquor is beef and dairy feed ingredients. Increased demand for meat such as poultry, swine & beef, dairy, and fish in countries such as China and Brazil are expected to boost demand for feed in these countries, thus driving the market.
Food
The major food ingredients obtained from corn wet-milling process are corn syrup, corn starch, and corn oil other co-products include organic acids, vitamins, amino acid, citric acid, lactic acid, and food gums. Corn syrup can be used as a sweetener in food items such as candies, ice creams, confectionery, and infant formula. High-fructose corn syrup is used in various consumer products such as baked goods, dairy products, fruit-flavored beverages, and soft drinks. Cornstarch is used in various instant and ready-to-eat foods to maintain the textural characteristics during heating, thawing, and freezing. It is also used in jellies, candies, and food sauces. The products obtained from refined corn oil are cooking oil and salad oil, which are used in salad dressings to provide health benefits with concentrated energy content. It is also used to produce margarine, mayonnaise, and other such condiments.
Industrial applications
The products obtained from the corn wet-milling are used in application that serves industries such as textile, paper, personal care, and pharmaceuticals. In the paper and textile industry, industrial corn starch is used for surface coating, sizing, and adhesion. It is also used in the production of construction material, mining, oil & gas drilling, and water filtration. Starch is also used in household items such as batteries, cleaners, matches, and trash bags. It also serves the personal and healthcare industry as an ingredient in items such as cosmetics, soaps, deodorants & hair styling products, medicines, and cough drops. Apart from this, corn starch is used in diapers, bandages, napkins, and baby powders. It can be used as an adhesive to replace petroleum-based acetates. It is also used as a raw material for the production of industrial chemicals and plastics, a relatively new market for cornstarch.
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Key players in the market include Tate & Lyle PLC (UK), ADM (US), Cargill (US), Ingredion Incorporated (US), Agrana Beteiligungs-AG (Austria), The Roquette Freres (France). Other players include Bunge (US), China Agri-Industries Holding Limited (China), Global Bio-Chem Technology Group Company Limited (Hong Kong), and Grain Processing Corporation (US).
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