The Corn Milling Machine Market is experiencing significant growth, with the rising consumption of maize-based beverages being a primary driving force behind its expansion. These machines play a crucial role in producing processed maize, which is used to create the popular corn-based spirits widely enjoyed throughout Europe.
During the forecast period, the worldwide corn milling machine market is anticipated to expand at a CAGR of 4.4%. As of 2023, the market is estimated to be worth US$ 19618.85 million, and by 2033, it’s predicted to be worth US$ 30177.17 million.
The rising consumption of beverages made from maize is one of the key factors driving the market’s expansion. The processed maize that is produced by these machines is used to create the well-known corn-based spirits that are consumed throughout Europe. Due to this, demand for maize milling equipment may rise throughout the course of the predicted year.
Apart from that, if we have a look at the healthcare sector, the processed form of corn is used in this sector as well. Being a rich source of Zinc, Magnesium, etc. the doctors are prescribing dosages of medicines, which make use of this processed corn.
The sealing and adhesives market is another niche where the processed form of corn is used. The fine form of corn that is obtained from the industrial corn milling machine is used to increase the adhesiveness and the stickiness of the product.
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The global bakery market is currently valued at more that US$ 275 billion, and is expected to grow at a CAGR of nearly 4%. The bakery market has been making use of processed corn in products like muffins, breads, rolls, etc. for enhancing the taste and a variety of other purposes. This might well increase the sales of corn milling machine during the forecast period.
The processed corn, that is obtained from corn processing equipment is also used in the chemical sector. Owing to its versatile, biodegradable, and environment friendly properties, these processed corns are gradually replacing synthetic chemicals. This shows huge prospects for the market going ahead.
Thus, from the analysis conducted by FMI, it can be inferred that, “the application of processed corns in a variety of sectors which include pharmaceutical, bakery, chemical, adhesives, etc. is expected to surge the corn milling machine market during the period 2023-2033.”
Key Takeaways:
- The corn milling machine market is valued at US$ 19618.85 million as on 2023.
- By 2033, the market is expected to reach a valuation of US$ 30177.17 million.
- The market is expected to grow at a CAGR of 4.4% during the period 2023-2033.
- The US corn milling machine market is valued at US$ 5885.65 million as on 2023, and is expected to grow at a CAGR of 4.6% during the forecast period.
- The UK market is valued at US$ 1039.80 million as on 2023, and is forecasted to grow at a CAGR of 4.6% during the forecast period.
- The China corn milling machine market is expected to be valued at US$ 3659.77 million by 2033, and is expected to grow at a CAGR of 8.7% during the forecast period.
- The Japan market holds a valuation of US$ 1373.32 million as on 2023, and is projected to expand at a sturdy CAGR of 10.1% through 2033.
- The South Korea corn milling machine market is expected to grow at a CAGR of 10.6% through 2033, and by 2033, the market is expected to be valued at US$ 1504.47 million.
- Based on the end product, the starch segment holds the highest market share, and is anticipated to grow at a CAGR of 4.5% during the forecast period.
- Based on the equipment, the centrifuge systems segment holds the highest market share, and is anticipated to grow at a CAGR of 5.7% during the forecast period.
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Competitive Landscape
The key players operating in the corn milling machine market are establishing strategic partnerships with players from other niches to expand their portfolio. Apart from that, the key players are also getting involved in mergers and acquisitions to expand their market share.
Some of the recent developments are:
- In October 2022, Tate and Layle announced that it supported new research to improve understanding of healthier and more sustainable food choices.
- In November 2022, Archer Daniel Midland Company announced that it expanded Research and Quality capabilities with New North America Microbiology laboratory.
Key Companies Profiled
- Tate and Lyle PLC (UK)
- Archer Daniel Midland Company
- Cargil Incorporate Agrana Beteiligungs-AG
- The Roquette Feres, Bunge Limited
- China Agri-industries Holding Limited
- Global Bio-Chem Techonology group company
- Grain Processing Corporation
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About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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