The global corn wet milling services market size is likely to expand considerably between 2020 and 2030. According to a study by Future Market Insights (FMI), the market will show a steady rise at 5.6% CAGR during the course of the aforementioned forecast tenure. According to the report, the rising demand for multi-functionary corn will stoke growth in the market. The report offers in-depth insights into factors impacting the market’s growth trajectory. It therefore includes information on key growth drivers, restraints, opportunities, and prevailing trends. It uses unique research methods to offer the refined forecasts on market.
It includes in-depth insights into the corn wet milling services market. Some of these are:
- The estimated value of the market was at US$ 72.1 Bn in 2020. Through the course of the report’s forecast period, the market is exhibited to show a steady pace of growth.
- Regionally, North America emerged as a key market for corn wet milling.
- Europe and Asia Pacific will remain steady as key markets for corn wet milling.
- In terms of source, the market can be split between dent corn and waxy corn. Of these, dent corn segment likely holds the dominant share in the overall market.
- On the basis of application, the industrial segment is forecast to show high growth over the coming years.
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“While North America currently dominates the global market, Asia Pacific is projected to emerge as one of the most lucrative regions in the future. The increasing consumption of corn wet milling services products across diverse industries will drive the market in Asia Pacific,” said a lead analyst at FMI.
Rising Industrial Applications Bolster Growth Opportunities
Products derived from corn wet milling finds application across diverse industries, which FMI touts as a key factor enabling growth in the market. Studies reveal, pharmaceuticals, personal care, paper and textile are among key industries exhibiting demand for these products. Industrial corn starch is very useful in paper and textile industry since it is used for sizing, adhesion, and coating. Besides these, it is used in oil and gas drilling, mining, production of construction material and water filtration. Among household items, starch is used in cleaners, trash bags, batteries and matches. In the personal care and healthcare industries it is used as a key ingredient that goes into deodorants, medicines, hair styling products, cosmetics and cough drops. Numerous applications of products obtained from corn wet milling services across diverse industries will guarantee steady growth for the market, through the course of the forecast period.
Who is Winning?
Some of the leading players operating in the corn wet milling services market are Tate & Lyle PLC, Archer Daniels Midland Company, Agrana Beteiligungs-AG, Cargill, Incorporated, Bunge Limited, Global Bio-Chem Technology Group Company Limited, Ingredion Incorporated, China Agri-Industries Holding Limited, The Roquette Freres, Grain Processing Corporation among others.
As a result of increasing competition, corn wet milling services companies are focusing on expanding their product portfolio and improving sourcing process. Their expansion strategies are further aided by agreements between them and local players across emerging market. These companies are particularly focusing on catering to changing consumer preference across various applications.
In addition to this, mergers and acquisition remains a popular strategy among market players. Companies intend to expand their regional footprint through strategic collaborations.
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Get Valuable Insights into Corn Wet Milling Services Market
Future Market Insights, in its new report, presents an unbiased analysis of the global corn wet milling services market, covering historical demand data and forecast figures for the period between 2020 and 2030. The study divulges compelling insights into growth witnessed in the market. In terms of source the
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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