The global corn co-products market size is expected to reach US$ 10.3 Billion in 2032 and exhibit growth at a CAGR of 3.1% in the forecast period from 2022 to 2032. The market is anticipated to be valued at US$ 5.8 Billion in 2022. Favorable import and export tariffs on high-fructose corn syrup is projected to drive the demand for corn co-products in near future.
| Report Attribute | Details |
| Corn Co-Products Market Estimated Base Year Value (2021) | US$ 4.5 Billion |
| Corn Co-Products Market Expected Market Value (2022) | US$ 5.8 Billion |
| Corn Co-Products Market Anticipated Forecast Value (2032) | US$ 10.3 Billion |
| Corn Co-Products Market Projected Growth Rate (2022-2032) | 3.1% CAGR |
Corn co-products are referred to as various components that are obtained from the distillation of corn starch. Distillers grain, corn oil, corn germ, corn gluten feed, and corn gluten meal are considered to be some of the most common types of corn co-products.
These are originally obtained in the paste or wet form and are then dried to be sold to numerous manufacturers. The increasing usage of corn gluten feed and corn gluten meal in animal feed is set to propel the growth in this market.
The presence of crude protein, which is very beneficial for animals, is another major factor that is likely to spur the sales of corn co-products. Corn germ and distillers grain are also utilized to prepare feed for pets, marine animals, poultry, and cattle.
The increasing usage of corn gluten meal as a supplement in the hog feed industry backed by its high-protein content is anticipated to fuel the corn co-products market growth in the evaluation period. It is gaining immense popularity as an affordable aquaculture feed. It is also set to be used to make common food and feed products, as well as corn-based snack products.
The surging inclination of consumers towards the usage of corn gluten meal as a pre-emergent herbicide because of its weed-inhibiting properties is another vital factor that is expected to drive the global market. The urgent need to explore the application of corn gluten meal as a sustainable alternative to chemically-derived herbicides in emerging countries is also anticipated to augur well for the global market.
The frequently changing prices of raw materials may hamper the demand for corn co-products in the assessment period. The regular consumption of corn and other related products can lead to pellagra, which is a deficiency of vitamins. To prevent this deficiency, animals should be given a vitamin-rich diet. In addition to that, consuming too much corn can result in weight gain. Corn syrup is considered to be a major cause of obesity among people.
Increasing disposable income of consumers is expected to compel them to prioritize their health over product price in India and China. Rising health awareness is set to result in the surging preference for corn oil across Asia Pacific in the evaluation period.
Diminishing oil and natural gas resources and rising environmental concerns are expected to enable governments to implement strict norms for supporting the usage of cleaner fuels. Though soybean oil is extensively used in biofuel production, corn oil has gained popularity in recent years. Spurred by the aforementioned factors, the Asia Pacific corn co-products market growth is expected to surge in future.
The rising consumption of dairy products in the U.S. and Canada is projected to boost the demand for corn germ meal across North America. Corn germ meal is considered to be a significant animal feed ingredient and is extensively used as a dietary fiber for cattle.
It is usually supplemented with multiple grains, such as wheat, sorghum, distiller's grain, and barley based on the requirements for lactating, breeding, and growing animals. The rising livestock production and the development of a wide range of corn germ meal to provide nutritional values to animals are anticipated to drive the North America corn co-products market share.
Some of the renowned companies operating in the global corn co-products market are Tate & Lyle PLC, Grain Processing Corporation, Gavilon Agriculture Holdings, Co., Archer Daniels Midland Company (ADM), LaBudde Group, Inc., Ingredion Inc., Grainspan Nutrients Pvt. Ltd., Sayaji Industries Ltd., Sukhjit Starch & Chemicals Ltd., Roquette America, Inc., Gulshan Polyols Ltd., Bunge North America Inc., Gavdeo International Ltd., and Consolidated Grain and Barge Co. among others.
The global market is highly competitive with the presence of a large number of multinational and domestic companies. They are mainly emphasizing on partnerships, acquisitions, expansions, and mergers with other key players to gain a competitive advantage. Meanwhile, a few other key players are focusing on new product developments to enhance their brand presence among consumers.
| Report Attribute | Details |
| Growth Rate | CAGR of 3.1% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2015-2020 |
| Forecast Period | 2022-2032 |
| Quantitative Units | Revenue in USD Billion, Volume in Kilotons and CAGR from 2022-2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
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| Customization | Available Upon Request |
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The global corn co-products market is anticipated to exceed US$ 10.3 Billion in 2032.
Asia Pacific is set to lead the corn co-products market in the forecast period.
Tate & Lyle PLC, Grain Processing Corporation, Gavilon Agriculture Holdings, Co., Archer Daniels Midland Company (ADM), and LaBudde Group, Inc. are some of the renowned companies in the corn co-products market.
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