(I-BusinessNews.Com, February 10, 2020 ) The growing use of distillers’ grains as a favorable alternative to traditional feedstock and growth of the organized livestock sector are the factors driving the market. The distillers’ grains market is projected to reach 14.95 billion by 2023, from USD 10.78 billion in 2018, at a CAGR of 6.8%.
On the basis of type, the DDGS segment is projected to grow at the highest rate from 2018 to 2023. This high growth is attributable to its properties such as good protein content, high energy, and high digestible phosphorus content, which are responsible for its growing use as a partial replacement of traditional animal feed such as corn and soybean meal. Another factor driving the market for DDGS is its long shelf life as its moisture content is between 10 to 12%, resulting in minimal risk of spoilage during transit and storage.
On the basis of livestock, the poultry segment is projected to form the fastest-growing market, during the forecast period. Besides being an effective replacer of corn and soybean meal in poultry diets, distillers’ grains also help in reducing feed costs as the prices of soybean meal and corn are high and often fluctuating. According to Poultry World, about 70% of the cost of poultry production is tied up in feed costs. Therefore, poultry producers are constantly seeking out affordable feed ingredients such as distiller’ grains.
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The role of distillers’ grains in animal nutrition is gaining significance. Well-balanced, nutritious feed products are known to have a stable and clearly defined nutritional profile, a scientific mix of required ingredients, and an optimum mix of feed additives. They are also known for improving nutrient digestibility and helping the young adapt to feed provided in the later stages. Owing to the nutritional profile and dynamics of distillers’ grains in animal nutrition, their optimum use in precision animal feeding techniques is desirable and productive, which in turn is going to drive the overall market.
Asia Pacific is projected to be the fastest-growing region in the distillers’ grains market from 2018 to 2023. Rising awareness among livestock producers about the importance of adequate nutrition and the need for economical animal production in the Asia Pacific region have led to increased use of distillers’ grains. Further, 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 modernization in the feed industry also drive the distillers’ grains market in Asia Pacific.
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