The Global Corn Gluten Feed Market is estimated to be valued at US$ 6.88 billion in 2022 and is expected to exhibit a CAGR of 6.5% over the forecast period from 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
The Corn Gluten Feed market refers to the byproduct obtained during the corn wet milling process. It is widely used as a valuable source of energy and protein in livestock feed. The use of corn gluten feed offers numerous benefits such as increased milk production, improved feed efficiency, and enhanced animal growth. The market is witnessing significant growth due to the growing demand for high-quality animal feed, especially for cattle, poultry, and swine.
The increasing demand for quality livestock feed, driven by the rising population and increasing meat consumption, is a major driver for the growth of the corn gluten feed market. Additionally, the growing awareness among livestock farmers regarding the importance of animal health and nutrition is further fueling market growth. Moreover, the cost-effectiveness and easy availability of corn gluten feed compared to other feed alternatives are also contributing to its market demand. These factors are expected to drive the market growth over the forecast period.
Strength: The corn gluten feed market is expected to witness high growth, exhibiting a CAGR of 6.5% over the forecast period. This growth can be attributed to the increasing demand for animal feed, especially in the livestock industry. Corn gluten feed is a cost-effective and nutritious feed option, making it popular among farmers and feed manufacturers.
Weakness: One weakness of the corn gluten feed market is its dependency on the corn industry. Any fluctuations or disruptions in the corn supply can directly impact the availability and pricing of corn gluten feed. Additionally, the market faces competition from other feed ingredients, such as soybean meal, which may limit its market share.
Opportunity: There are two opportunities for the corn gluten feed market. Firstly, the growing awareness about the environmental benefits of using corn gluten feed as an alternative to traditional feed ingredients can drive demand. Secondly, the expanding aquaculture industry presents a significant opportunity for market growth, as corn gluten feed is a suitable feed option for fish and shrimp.
Threats: The corn gluten feed market faces two main threats. Firstly, the volatility in corn prices can negatively impact the profitability of corn gluten feed manufacturers. Secondly, the emergence of alternative feed ingredients, such as distillers’ grains, can pose a threat to the market as farmers and feed manufacturers seek more cost-effective options.
Global Corn Gluten Feed Market Demand is expected to witness high growth, exhibiting a CAGR of 6.5% over the forecast period, due to increasing demand for animal feed in the livestock industry.
The Asia-Pacific region is projected to be the fastest-growing and dominating region in the market, driven by the rising consumption of meat and dairy products in countries like China and India.
Key players operating in the corn gluten feed market include Agrana Group, Archer Daniels Midland Company, Bunge Ltd., Cargill Incorporated, Commodity Specialists Company, Grain Processing Corporation, Ingredion Incorporated, Tate & Lyle Plc., Tereos Syral, and The Roquette Group.
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it