by 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 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Corn gluten feed is a by-product obtained during the production of corn starch and corn syrup. It is widely used as an animal feed due to its high nutritional value. Corn gluten feed is rich in protein and contains essential amino acids, vitamins, and minerals necessary for the healthy growth of animals. The increasing demand for organic animal feed, driven by consumer preference for natural and healthier products, is expected to drive the growth of the corn gluten feed market. Furthermore, the cost-effectiveness and easy availability of corn gluten feed make it a preferred choice for animal feed manufacturers.
Market Key Trends:
One key trend observed in the corn gluten feed market is the growing adoption of corn gluten feed in the poultry industry. Poultry is one of the largest consumers of corn gluten feed, owing to its high protein content and cost-effectiveness compared to other feed ingredients. The increasing demand for poultry products, driven by the rising population and changing dietary preferences, is expected to boost the demand for corn gluten feed in the poultry industry. Additionally, the ability of corn gluten feed to improve the overall health and performance of poultry animals is further driving its adoption in the poultry feed industry.
PEST Analysis:
Political: The political factors influencing the corn gluten feed market include government regulations and policies regarding the use of corn by-products in animal feed. For example, restrictions on genetically modified corn varieties or import/export regulations may impact the availability and cost of corn gluten feed.
Economic: The economic factors affecting the market include the overall economic growth, exchange rates, and commodity prices. Fluctuations in corn prices can significantly impact the cost of corn gluten feed production and, in turn, its market price.
Social: The social factors influencing the corn gluten feed market include changing consumer preferences and dietary habits. Increased awareness about the health benefits of animal feed additives and the impact of livestock diets on meat quality may drive the demand for corn gluten feed.
Technological: The technological factors affecting the market include advancements in feed processing techniques and manufacturing equipment. Innovations in feed formulation and production methods can lead to improved quality and nutrient content of corn gluten feed, making it a more attractive option for animal feed manufacturers.
Key Takeaways:
Global Corn Gluten Feed Market Demand is expected to witness high growth, exhibiting a CAGR of 6.5% over the forecast period (2023-2030). This growth can be attributed to the increasing demand for animal feed with enhanced nutritional value, as well as the rising awareness about the benefits of corn gluten feed in the livestock industry.
In terms of regional analysis, North America is expected to be the fastest-growing and dominating region in the corn gluten feed market. The region has a well-established livestock industry, which drives the demand for animal feed additives. Additionally, favorable government policies and the presence of key market players in this region contribute to its growth.
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. These players have a strong presence in the market and often undertake strategies such as mergers, acquisitions, and product launches to maintain their market position and tap into new growth opportunities.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
