Corn Wet Milling Services Market

Corn Wet Milling Services Market Outlook (2023 to 2033)

According to Future Market Insights, during the projected period, the adoption of corn wet milling services is expected to grow at a CAGR of 4.9%. The Corn Wet Milling Services Market value is projected to increase from USD 82,555.2 million in 2023 to surpass USD 133,825.5 million in 2033.

During the forecast period, increased consumption of corn starch, corn edible oil, corn syrup, and corn and gluten-based meal in the animal feed industry is anticipated to drive the expansion of the corn wet milling services market.

Cleaning, steeping, milling, separating the germ, fine grinding, screening, and separating the starch and gluten are some of the phases in the corn wet milling process that refines the corn.

The corn wet milling services market revenue is being driven by improved technological capabilities, energy-efficient business strategies, and a consistent supply of corn crops. Leading corn wet milling services providers are utilizing major business strategies such as capacity expansion and expanded corn supply to meet the rising global demand for corn-based products.

Attribute	Value
Corn Wet Milling Services Market Size in 2023	USD 82,555.2 million
Corn Wet Milling Services Market Forecast Value in 2033	USD 133,825.5 million
Corn Wet Milling Services Market Growth Rate (2023 to 2033)	4.9% CAGR
Market Share of North America	38%

The demand for corn-based products has grown dramatically over the world, including ethanol, animal feed, and corn syrup. Due to its natural origin, the sweetener category is the most popular choice. In addition, ethanol consumption is rising as people's preferences for motor fuels grow.

The food and beverage industries are seeing a sharp rise in demand for corn products that are high in protein, digestible fibres, amino acids, and other vital minerals. In the upcoming years, the market for corn wet milling services is expected to rise significantly due to an increase in demand for corn products across a variety of end-use industries.

Corn Wet Milling Services Market to be Driven by an Increase in Demand for High Fructose Corn Syrup in Processed Foods and Beverages

• As high fructose corn syrup has a 55% fructose content and is therefore sweeter than sucrose, there is an increase in demand for it in the carbonated beverage business.
• The corn wet-milling market is anticipated to be driven by a rise in high fructose corn syrup demand, as it is the primary product produced in the wet-milling process.
• Despite the global economic slump, the global beverage business is predicted to grow dramatically.
• The main element driving the demand for high fructose corn syrup is the rise in sales of ready-to-drink beverages, which include items like carbonated, dairy drinks, tea, fruit drinks, alcoholic drinks including beer, cider, and malted drinks.

Key Corn Wet Milling Services Market Dynamics

Drivers of Corn Wet Milling Services Market

Amino acids, corn gluten meal, corn gluten feed, corn germ meal, steep corn liquor, and other by-products of the corn wet-milling process are all utilized in animal feed boosting the adoption of corn wet milling services during the forecast period.

Increased demand for meat products like fish, dairy, and poultry in nations like China and Brazil is anticipated to increase demand for feed, pushing the corn wet milling services market share.

The corn wet milling services market size is anticipated to rise as corn syrup, corn starch, and corn oil are the three popular food ingredients derived from the wet milling of corn.

Other by-products include organic acids, vitamins, amino acids, citric acid, lactic acid, and food gums. Numerous consumer goods, including baked goods, dairy products, beverages with fruit flavors, and soft drinks, contain high-fructose corn syrup. Many fast and ready-to-eat meals use cornstarch to preserve the texture while heating, thawing, and freezing.

Major Factors Limiting the Corn Wet Milling Services Market Growth

The high cost of operations is the main restraint on the corn wet milling services market. About 15% of the energy utilized in the overall food business is used in corn wet-milling, a very energy-intensive processing method employed in the food and beverage industries. In the wet-milling process, the cost of energy is second only to the cost of corn among the raw ingredients.

Additionally, the corn wet milling services have variable costs that are increased by high energy price volatility, which reduces millers' ability to anticipate their profits. The milling sector is consuming an increasing quantity of energy, which is limiting corn wet milling services market expansion.

Opportunities for Corn Wet Milling Services Providers

Due to the demand for plentiful, secure, and reasonably priced animal protein, corn wet milling is employed the most in the feed business among all other uses.

In addition, rising income levels in emerging economies like the Asia Pacific, South America, the Middle East, and Africa are anticipated to create high growth prospects for corn wet milling producers in the coming years. These economies are expected to have increased demand for meat, particularly poultry, swine, beef, dairy, and fish. As a result, these factors are anticipated to propel the adoption of corn wet milling services during the forecast period.

Segmentation Analysis of Corn Wet Milling Services Market

By equipment, the largest CAGR growth is anticipated for centrifuge systems between 2023 and 2033. They are the piece of machinery in the corn wet-milling business that is employed the most frequently.

By type, the dent corn market is anticipated to see the greatest CAGR growth between 2023 and 2033. Dent corn is the type of corn from both sources that is most frequently utilized in the wet-milling process to produce corn syrup, food starch, feed, and ethanol.

Due to the extensive use of dent in the manufacturing of corn syrup, animal feed, starch, and ethanol, dent accounts for the biggest proportion of the corn kinds in the corn wet-milling market throughout the anticipated period.

By end products, sweeteners are the most important refined corn product, accounting for about 55% of the United States market for nutritional sweeteners, followed by ethanol, which is becoming a more popular choice for burning motor fuels.

Furthermore, corn gluten feed is a reasonably priced product that can replace conventional feed, reduce subacute acidosis, and increase feed effectiveness. Additionally, wet milling systems in the US increased by 1.2 million bushels each month between 2007 and 2009, according to data from the United States Census Bureau.

Regional Analysis

Due to the growth of end user industries like textile and pharmaceutical, the Asia Pacific region is projected to account for the majority of global corn wet milling services market sales. Other prosperous corn wet milling services markets include those in Europe, North America, and Japan.

Stakeholders in the corn wet milling services business may find chances in other developing nations in the Middle East and Africa.

Corn Wet Milling Services Market in North America

Products from corn wet milling are utilized in a variety of sectors, including food, feed, textiles, paper, pharmaceuticals, personal care, and healthcare. This is the main element fueling the market's expansion in North America. ADM (United States), Cargill (United States), and Ingredion are just a few of the several international food processing behemoths that call the region home.

Additionally, the area is the world's biggest consumer market for corn goods. As a result, North America commands 33% of the global market for corn wet milling. Furthermore, North America's contribution to the global market is anticipated to rise at the greatest CAGR during the projected period. It had a sizable market share in the production of ethanol, which is made by wet-milling corn.

Startup Ecosystem

Due to increased competition, new providers of corn wet milling services are concentrating on diversifying their product offerings and streamlining their sourcing procedures. Their agreements with local players in emerging markets also support their expansion objectives.

These businesses are putting a lot of effort into adapting to shifting consumer preferences across a range of applications. In addition, startups continue to favor mergers and acquisitions as a strategy. Strategic partnerships are intended to help businesses increase their geographical reach.

For example, Sayaji Industries Ltd., a famous Indian corn wet milling company, announced a collaboration with Alland & Robert, a global producer of natural exudates, in October 2018.

Competitive Landscape

Due to the increasing demand for corn products around the world, major players in the corn wet milling services sector are constantly working on expanding their facilities.

Food producers involved in the corn-wet milling industry have boosted their corn procurement to keep up with the rising demand for items related to corn.

Additionally, a stable corn supply is complemented by advantageous trade activities, a good grain supply projection, and an increase in the demand for corn-based and modified starch products, all of which contribute to the expansion of the corn wet milling services industry.

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 USD 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 USD 40 million in September 2018.

What is the Corn Wet Milling Service Providers Doing?

Corn wet milling, which makes up roughly 15% of all energy consumption in the food business, is regarded as the most energy-intensive sector among the several food industry verticals. An average American corn wet milling facility spends between USD 20 and USD 30 million a year on energy.

As a result, stakeholders are looking for energy star business models in an effort to boost predictable revenues by cutting energy expenditures. Such company planning is also beneficial when energy prices are highly volatile. To build a technique that saves money, energy, and water without sacrificing productivity and quality, several research projects on water and energy management in the corn wet milling process are now underway.

Improved technological capabilities, energy-efficient business strategies, and a consistent supply of corn crops are significant drivers boosting the demand for corn wet milling services. Leading corn wet milling service providers use capacity expansion and expanded corn supply as major business strategies to meet the rising demand for corn-based goods.

Steps Taken by Established Corn Wet Milling Service Providers

• Gujarat Ambuja Exports Ltd. stated in April 2018 that the company's proposed greenfield project with a 1000 TPD corn wet milling capacity would begin in Maharashtra, India.
• ADM debuted the premium protein source PROPLEX DY for swine feed in July 2016. This item was created through the wet milling of corn and was intended to promote animal growth.
• Tate & Lyle sold their Moroccan corn wet mill to ADM in February 2016. (UK). ADM could manufacture glucose and native starch with the aid of this.
• Cargill invested USD 100.0 million in the construction of a new corn wet-milling facility in Karnataka, India, in January 2016. The plant could produce 800 Tonnes of corn each day.
• Shandong Huanong Specialty Corn Development Co., Ltd. (China) was acquired by Ingredion Incorporated in February 2016 to boost its expansion in the Asia Pacific area and establish a production base for specialty ingredients.
  • In July 2023, the Heinzel Group collaborated with ANDRITZ to undertake a significant project aimed at converting paper machines in Steyrermühl, Austria. The primary objective of this endeavor was to transition the paper manufacturing process to focus on sustainable packaging paper production.
  • In May 2023, AGRANA significantly increased its manufacturing capacity to leverage its technical strengths by investing about USD 26 million in the Gmünd site.

Corn Wet Milling Services Market Report Scope

Attribute	Details
Forecast Period	2023 to 2033
Historical Data Available for	2018 to 2022
Market Analysis	USD million for Value and Units for Volume
Key Regions Covered	North America; Latin America; Europe; South Asia; East Asia; Oceania; MEA
Key Countries Covered	United States, Canada, Mexico, Germany, United Kingdom, France, Italy, Spain, China, Japan, India, South Korea, Australia, Brazil, Argentina, South Africa, UAE
Key Segments Covered	Product Type, Technology, Application, Region
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
Report Coverage	Market Forecast, Company Share Analysis, Competitive Landscape, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives
Customization & Pricing	Available upon Request

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)

Frequently Asked Questions

How Big will the Corn Wet Milling Services Market by 2033?

The projected revenue of the market by 2033 is USD 133,825.5 million.

What is the Corn Wet Milling Services Market CAGR for 2033?

The market CAGR for 2033 is projected to be 4.9%.

Who are the Three Key Players in the Corn Wet Milling Services Market?

ADM, Cargill, and Ingredion are the key market players.

What is the Current Corn Wet Milling Services Market Valuation?

The market is estimated to secure a valuation of USD 82,555.2 million in 2023.

Which Region is Speeding Up in Terms of Growth?

North America is due surging due to the demand for corn wet milling products.