According to Stratistics MRC, the “Global Corn Wet-Milling Market” is accounted for $64.10 billion in 2018 and is expected to reach $115.40 billion by 2027 growing at a CAGR of 6.8% during the forecast period. While the factors like growing demand for high fructose corn syrup in processed food & beverages and increasing consumption of corn gluten meal-based animal feed products are driving the growth of the market. However, stringent government regulatory controls over health & safety and increasing quality standards are some of the factors restraining market growth.
Corn wet-milling is a process of refining corns to manufacture end products utilized by immeasurable individuals worldwide. The shelled corns are processed by two types of dry mills or wet mills. Beneath corn wet-milling process corns are separated into four parts particularly starch, fiber, germ, and gluten. The production method of corn wet-milling includes cleansing, steeping, milling & germ separation, fine grinding & screening and separating starch & protein. The additional method includes conversion of starch to sweetening and fermentation by dextrose which added value to products such as ethanol, amino acids and polylactic acid employed in biodegradable products. Beneath milling process corns are indelicately milled to separate germs from alternative parts that contain around eighty-fifth of corn’s oil.
Based on type, the growth of dent corn is constantly enhancing due to the dent corn is most commonly used corn in corn wet-milling process to manufacture corn syrup, food starch, feed, and ethanol. Dent corn is typically cultivated as a row crop grown commercially for grain and fodder. Cultivars developed for commercial cultivation are either single- or double-cross hybrids bred for special growing areas, soils, or climatic conditions.
Depending on end product, corn oil is estimated to have a lucrative growth owing to growing incidences of lifestyle diseases coupled with rising health awareness among consumers have significantly contributed demand for corn oil. In addition, the numerous uses in biofuel and various industrial products like paints, soaps, pesticides, pharmaceuticals etc. are further augmented the growth of the market.
Based on application, the food segment is estimated to have a lucrative growth in the forecast period. The major food ingredients obtained from corn wet-milling process are syrup, corn starch. Corn syrup is used as a sweetener in food items like candies, ice creams, confectionery, and infant formula. High-fructose corn syrup is used in numerous shopper merchandise like baked goods, dairy products, fruit-flavoured beverages, and soft drinks.
By geography, North America is likely to have a huge demand in the forecast period. The growth is mainly attributed by the expansion of corn wet milling industries and high consumption of corn wet-milling products by many industries such as textiles, food, pharmaceuticals, animal feed, personal care and others in these regions. Moreover, the region consists of multinational food processing companies such as ADM (US), Cargill (US), and Ingredion (US) which in the end results for the growth of the market.
Some of the key players in Global Corn Wet-Milling market include Tate & Lyle PLC, Archer Daniels Midland Company, Ingredion Incorporated, Global Bio-Chem Technology Group Company Limited, Cargill, Incorporated, Roquette Corporate, Agrana Beteiligungs-Ag, Bunge Limited, Grain Processing Corporation, China Agri-Industries Holdings Limited, and Agri-Industries Holding Limited.
Email: [email protected]