Corn gluten feed is a co-product of the wet-milling process of corn into products like syrup, oil and starch. It contains vital nutrients needed for livestock including protein, fiber, energy and vitamins.
The Global Corn Gluten Feed Market is estimated to be valued at US$ 8.45 Bn in 2024 and is expected to exhibit a CAGR of 12% over the forecast period 2024 To 2031.
Key Takeaways
Key players operating in the corn gluten feed market are Adidas, Suunto, Abbott laboratories, Sony, Eurotech, Nike, Google, Inc., Garmin International Inc., Medtronic, Fitbit Inc., and Apple Inc. These key players are focusing on product innovation and new product launches to meet increasing demand.
The growing demand for meat products is fueling the Corn Gluten Feed Market Size. Corn gluten feed is a vital ingredient in feed formulations for poultry, cattle and pigs. The high protein content of corn gluten feed enhances meat production.
The corn gluten feed market is expanding globally due to rising consumption in major markets. North America dominates the market followed by Europe and Asia Pacific. The large livestock industries in China and Brazil are driving market growth in developing regions.
Market key trends
The trend of protein enrichment in animal feed is driving the corn gluten feed market. Corn gluten feed contains approximately 20% crude protein which helps meets protein requirements of livestock. Feed producers are incorporating corn gluten feed to boost protein content of animal feed rations without significantly increasing costs. This trend is expected to continue over the forecast period.
Porter’s Analysis
Threat of new entrants: Low capital requirements and low brand loyalty make it easier for new players to enter the market.
Bargaining power of buyers: There exists a large number of buyers in the market who demands high quality products at competitive prices decreasing the buyers' bargaining power.
Bargaining power of suppliers: The suppliers have moderate bargaining power due to availability of substitute raw materials and suppliers.
Threat of new substitutes: Potential threat from other livestock feed products like soybean meal and alfalfa meal can be considered as substitutes threatening the industry.
Competitive rivalry: Intense competition exists among existing players to gain market share.
Geographical Regions
North America accounts for the largest share in the global corn gluten feed market, both in terms of value and volume. Presence of large livestock industry in the US and Canada and high demand for animal feed drives the market growth in the region.
Asia Pacific is projected to be the fastest growing market during the forecast period. Increasing meat consumption in China and India coupled with growth in livestock farming is fueling the demand for corn gluten feed in the region.
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