Corn gluten feed is a co-product of the corn-wet milling process that produces corn syrup, high fructose corn syrup, and dextrose. It is made from leftovers of corn after removing starch. Corn gluten feed is considered an economical source of protein in animal feed rations. It contains 20-30% of crude protein that includes multiple amino acids making it a viable replacement for soybean and fish meals.
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.
The key opportunities in the global corn gluten feed market include its rising usage as a sustainable and affordable alternative to conventional protein sources as well as focus on expanding production capacities. Manufacturers are focusing on increasing the production of corn gluten feed through capacity expansion projects, especially in Asia Pacific and North America where the demand is rising rapidly.
The growing animal feed industry across the globe coupled with shift towards natural feed ingredients over antibiotics is supporting the growth of the corn gluten feed market. Countries like China, the U.S., Brazil, and India offer lucrative growth opportunities owing to large livestock populations and rising meat consumption in these regions.
Market Drivers
The major market driver for increasing demand of corn gluten feed is its economical cost as compared to conventional protein sources like soybean and fish meals. Corn gluten feed Market Size provides comparable nutritional value at lower prices. As the production of biofuel ethanol from corn starch increases globally, the supply of corn gluten feed as a co-product also rises, keeping its prices low. This makes it an attractive proposition for animal feed producers to use corn gluten feed without significantly increasing their input costs.
PEST Analysis
Political: Corn gluten is fed to livestock, so any changes in agricultural policies or subsidies could impact demand. Farm bills and trade policies also influence commodity prices and exports.
Economic: A strong economy increases demand for meat and dairy, boosting demand for corn gluten feed. High commodity prices make it a cost-effective alternative tocorn. Inflation and energy costs affect feed production.
Social: Consumer interest in sustainably and ethically produced food influences farmer practices and demand for local/organic feed ingredients like corn gluten. Population growth and increasing incomes in developing nations drive demand for animal proteins.
Technological: Advances in feed formulations and compounding improve the nutritional value and digestibility of corn gluten feed. Traceability technologies help ensure quality and safety. Sustainable farming techniques increase corn gluten yields.
Geographical concentration: The market is concentrated in North America and Western Europe due to large-scale meat and dairy production. The U.S. is the top producer and consumer of corn gluten feed worldwide due to intensive cattle, hog and poultry farming.
Fastest growing region: Asia Pacific is growing rapidly due to rising incomes, urbanization and westernization of diets in countries like China and India. The region is investing in largescale concentrated animal farming to meet burgeoning demand for meat and dairy. This is driving increased imports and local production of high-quality feed ingredients including corn gluten.
Get more insights on This Topic- Corn Gluten Feed Market
Comments
0 comment