(I-BusinessNews.Com, March 31, 2020 ) The report “Distillers Grains Market by Type (Dried Distillers Grains with Solubles, Dried Distillers Grains, and Wet Distillers Grains), Source (Corn and Wheat), Livestock (Ruminants, Swine, and Poultry), and Region – Global Forecast to 2023”, The distillers’ grains market is estimated to be valued at USD 10.78 Billion in 2018 and is projected to reach USD 14.95 Billion by 2023, at a CAGR of 6.8%. The market is driven by distillers’ grains being used as a favorable alternative to traditional feedstock and growth of the organized livestock sector.
The market, based on type, has been segmented into DDGS, DDG, WDG, and others. The market for DDGS is estimated to dominate in 2018 and is also projected to be the fastest-growing segment during the forecast period. This growth can be attributed to several properties of DDGS such as high protein content, energy, and highly digestible phosphorus content, which are responsible for its growing use as a partial replacement for some more expensive traditional animal feed such as corn and soybean meal.
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The distillers’ grains market, by source, has been segmented into corn, wheat, and others. The corn segment is estimated to dominate the market in 2018 and is projected to grow at a higher CAGR by 2023. This is attributable to the fact that this is the key grain used in ethanol production, resulting in an increasing supply of corn-based distillers’ grains, as a by-product. Further, the high availability of phosphorus content in corn-based distillers’ grains provides high energy and protein to livestock. It is also an economical alternative to other feed ingredients.
The market, by livestock, has been segmented into ruminants, swine, poultry, and others. It was dominated by the ruminants segment in 2017. The growth in demand for quality milk and beef products has led to the use of distillers’ grains in ruminant diets, due to their higher protein content than traditional feed such as corn. The poultry segment is projected to be the fastest-growing during the forecast period. On a global level, poultry production has been increasing, and with such growth in production and consumption, it has become important for meat producers to focus more on quality. This gives a boost to the market for distillers’ grains to provide nutritional feed for poultry.
The market in North America is driven by the high production and consumption of distillers’ grains in the US market. Further growth can be attributed to the growing trade of distillers’ grains from the US to Canada and Mexico, due to the North American Free Trade Agreement (NAFTA). This agreement allows duty-free access to all products promoted by the United States Grains Council (USGC) which include distillers’ grains. The Asia Pacific market is projected to grow at the highest CAGR from 2018 to 2023. The increase in demand for animal-based products; growth of the regional population; the rise in disposable incomes; the rise in urbanization, especially in China, India, and Japan; and continuous modernization in the feed industry drive the distillers’ grains market in Asia Pacific.
Lack of awareness in developing countries, fluctuating prices of grains, and Ill-effects of excess consumption are the major restraints for the growth of this market.
The global market for distillers’ grains is dominated by large-scale players such as Green Plains Inc. (US), Pacific Ethanol, Inc. (US), Flint Hill Resources (US), Valero (US), and CropEnergies AG (Germany).
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ADM (US), Husky Energy (Canada), Bunge Limited (US), Purina Animal Nutrition (US), Poet LLC (US), Didion Milling Inc. (US) and Greenfield Global (Canada) are the other players that hold a significant share in the distillers’ grains market.
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