Future Market Insights projects a robust growth trajectory for corn wet milling services, forecasting a CAGR of 4.9% during the projected period. The market value for these services is anticipated to rise from USD 82,555.2 million in 2023 to exceed USD 133,825.5 million by 2033.
Throughout the forecast period, heightened consumption of corn starch, corn edible oil, corn syrup, and corn and gluten-based meal within the animal feed industry is expected to fuel growth in the corn wet milling services market. The corn wet milling process involves stages such as cleaning, steeping, milling, germ separation, fine grinding, screening, and starch and gluten separation, refining corn for various applications.
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The global demand for corn-based products, spanning ethanol, animal feed, and corn syrup, has experienced substantial growth. Sweeteners, owing to their natural origin, particularly dominate this category. Additionally, ethanol consumption is increasing in response to rising preferences for motor fuels.
The food and beverage industries are witnessing a notable surge in demand for corn products enriched with protein, digestible fibers, amino acids, and essential minerals. Looking ahead, the market for corn wet milling services is anticipated to witness significant growth, driven by escalating demand for corn-derived products across diverse end-use sectors.
Competitive Landscape
As global demand for corn products continues to rise, key players in the corn wet milling services sector are actively expanding their facilities. Food producers within the corn wet milling industry have ramped up their corn procurement efforts to meet the growing demand for corn-related products. Moreover, a stable corn supply is supported by favorable trade activities, optimistic grain supply forecasts, and increased demand for corn-based and modified starch products, collectively driving growth in the corn wet milling services industry.
Key Companies Profiled
- Agrana Beteiligungs-AG
- Ingredion Inc.
- Archer Daniels Midland Company, Inc.
- Cargill
- Bunge Limited
- Agri-Industries Holding Limited
- Grain Processing Corporation
- Roquette Corporate
- Andritz Group
- Bunge Limited
- Global Bio-Chem Technology Group Company Limited
- Tate & Lyle PLC
Key Developments in the Corn Wet Milling Services Market
- A major player in the global corn wet milling services industry, Ingredion, Inc., said in October 2018 that it would invest $60 million in the region of Asia Pacific, including increasing China’s capacity for corn wet milling services and starch manufacturing.
- To begin producing modified starch products at the company’s corn wet milling plant in Davangere, India, Cargill India, a significant player in the corn wet milling services sector, announced an additional investment of about US$ 40 million in September 2018.
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Corn Wet Milling Services Market by Category
By Equipment:
- Milling
- Steeping
By Type:
- Waxy
- Dent
By Application:
- Steepwater
- Mill
- Food
- Refinery
- Starch modification
- Ethanol production
- Feed area
- Others
By End Products:
- Ethanol
- Sweeteners
- Starches
- Corn oil
- Gluten meal and feed
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East and Africa (MEA)
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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