by Corn gluten feed is derived from the corn kernel and starch manufacturing process. It is high in protein and fiber, making it a useful feed for ruminant livestock. Corn gluten feed helps improve animal health and performance while also reducing production costs for farmers. The product serves as an economical alternative to corn and soybean meal in ruminant diets. With the increasing demand for meat and dairy, corn gluten feed plays a pivotal role in meeting the nutritional requirements of cattle and poultry.
The global corn gluten feed market is estimated to be valued at US$ 12 Billion in 2023 and is expected to exhibit a CAGR of 12% over the forecast period 2023-2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the primary trends observed in the corn gluten feed market is the use of the product in aquaculture feeds. Corn gluten feed contains essential fatty acids, vitamins, minerals, and plant proteins which promote growth and wellness in farmed fish species. Several manufacturers are developing corn gluten-based aquafeeds for salmon, trout, carp, and tilapia farming. These specialized feeds allow fish farmers to reduce production costs while meeting the nutrition needs of their stock. With the booming global demand for seafood, the application of corn gluten feed in aquaculture is projected to make gains in the coming years.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate as the corn gluten feed market is fragmented in nature and requires high initial investment for production facilities.
Bargaining power of buyers: The bargaining power of buyers is high due to the availability of substitutes. Buyers can switch between corn gluten feed and other substitutes easily.
Bargaining power of suppliers: The bargaining power of suppliers is low as there are many suppliers in the market and switching costs are low.
Threat of new substitutes: The threat of new substitutes is moderate as there are few substitutes available for corn gluten feed.
Competitive rivalry: The competitive rivalry is high due to the presence of many domestic players competing on the basis of quality, price, production capacities.
Key Takeaways
The Global Corn Gluten Feed Market Demand is expected to witness high growth over the forecast period.
Regional analysis: North America leads the global market with the largest share owing to the presence of large livestock population in the US and Canada. Europe is anticipated to grow significantly over the forecast period on account of rising meat consumption.
Key players: Key players operating in the corn gluten feed market are Tate & Lyle PLC, Archer Daniels Midland Company, Roquette America, Ingredion Incorporated, Bunge North America Inc. Cargill Inc.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
