Asia-Pacific Corn Steep Liquor Market, By Product Type (Inorganic/Conventional, Organic), Form (Powder, Liquid), Application (Animal Feed, Fertilizers, Fermented Products, Pharmaceutical Industries, Fishing Bait, Other Industrial Applications), – Industry Trends and Forecast to 2029
Market Analysis and Size
Corn is widely used in a variety of applications, including human food to increase nutritional value, livestock feed, chemicals and biofuel, as a commodity, and many others.
Data Bridge Market Research analyses that the corn steep liquor market which was growing at a value of 555.25 million in 2021 and is expected to reach the value of USD 871.71 million by 2029, at a CAGR of 5.8% during the forecast period of 2022-2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, patent analysis and consumer behaviour.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Product Type (Inorganic/Conventional, Organic), Form (Powder, Liquid), Application (Animal Feed, Fertilizers, Fermented Products, Pharmaceutical Industries, Fishing Bait, Other Industrial Applications)
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Countries Covered
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China, India, Japan, South Korea, Indonesia, Philippines, Vietnam, Thailand, Australia, New Zealand, Malaysia, , Singapore, Rest of Asia-Pacific
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Market Players Covered
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Cargill Incorporated (U.S), DuPont (U.S), Bluestar Adisseo Co. Ltd (China), BASF SE (Germany), Kemin Industries, Inc. (U.S), DSM (Netherlands), Associated British Foods plc (U.K), Novozymes (U.S), Biocatalysts Ltd. (U.K), Amano Enzyme Inc. (Japan), Kerry Group plc (Ireland), Jiangsu Boli Bioproducts Co.Ltd. (China), AUM Enzymes (India), Antozyme Biotech Pvt Ltd (India), Xike Biotechnology Co. Ltd. (China), SUNSON Industry Group Co.Ltd (China)
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Opportunities
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Market Definition
Corn, also known as maize, is a cereal grain that is widely grown around the world. Corn steep liquor, a by-product of corn wet milling, is high in amino acids, minerals, and vitamins. Corn wet milling is the process of breaking down corn kernels into individual elements such as protein, oil, starch, and so on. Corn steep liquor is a thick yellowish liquid used in the growth of microorganisms during the manufacture of antibiotics and other fermented products.
Corn Steep Liquor Market Dynamics
Drivers
- Industrial uses of corn steep liquor drives market demand
Corn steep liquor has a variety of industrial applications, including crude oil biodegradation, concrete crack treatment, and post-conversion of municipal waste maize for use in organic farming. These benefits and applications are expected to increase consumer adoption of corn steep liquor, driving market growth during the forecast period.
- The growing demand for animal protein and animal derived products
With a constantly growing Asia-Pacific population and rising protein demand due to rising per capita income, meat and meat products have never been higher. To meet the rising demand for meat and meat products, livestock producers must rely on proper nutrition to ensure optimal growth and high-quality meat.
Corn steep liquor is an example of an additive that can provide the necessary nutritional profile at a fraction of the cost of premium nutrition products. Because feed costs account for the majority of the costs associated with livestock operations, lowering them is critical for business owners, making corn steep liquor the additive of choice for livestock rearers.
Opportunity
Rising research and development expenditures, growth and expansion of the animal feed industry in developing economies, and rising consumption of meat and meat-related products will all contribute to market value growth.
Restraints
However, the widespread availability of substitutes will pose a significant challenge to market growth. High costs associated with R&D capabilities and increased competition among manufacturers will also impede market growth. Improper distribution and disruptions in supply chain management will derail market growth once more.
This corn steep liquor market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the Corn Steep Liquor market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Corn Steep Liquor Market
During the COVID-19 situation, agriculture and food production have been identified as critical sectors in Asia-Pacific. As a result, farmers have continued to provide high-quality nutrition to farm animals in order to feed an increasing number of Asia-Pacific consumers. However, the most significant factor affecting the animal feed market is supply chain disruption. China is a major producer and exporter of animal feed, and it stockpiled enough product for 2-3 months' supply during the emergence of the COVID-19 situation while businesses were closed for the Lunar New Year. Furthermore, logistics issues have hampered the supply of containers and vessels, as well as the transportation of specific micro-ingredients.
Recent Development
- TEREOS STARCH & SWEETENERS EUROPE launched their offering in the China market in April. Tereos, Starch & Sweeteners' business division attended the Food Ingredients China exhibition in Shanghai. This allowed the company to convey their product offering to Chinese consumers, allowing it to expand its customer base.
Asia-Pacific Corn Steep Liquor Market Scope
The corn steep liquor market is segmented on the basis of form, product type and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Form
- Powder
- Liquid
Product type
- Inorganic/Conventional
- organic
Application
- Animal Feed
- Fertilizers
- Fermented Products
- Pharmaceutical Industries
- Fishing Bait
- Other Industrial Applications
Corn Steep Liquor Market Regional Analysis/Insights
The corn steep liquor market is analysed and market size insights and trends are provided by country, form, product type and application as referenced above.
The countries covered in the corn steep liquor market report are China, India, Japan, South Korea, Indonesia, Philippines, Vietnam, Thailand, Australia, New Zealand, Malaysia, , Singapore, Rest of Asia-Pacific.
China dominates the market for corn steep liquor, which is in high demand for various applications such as animal nutrition, fertilisers, and others due to its high nutritional value and low cost. A number of manufacturers are also involved in bringing the product to market. As corn production in India is high and manufacturers can produce the product at a high level, India accounts for the second largest share. Indonesia accounts for the third largest share of corn production after China and India, allowing manufacturers to easily produce products. Furthermore, corn steep liquor is in high demand in a variety of industries, including feed additives and fertilisers.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Asia-Pacific brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Corn Steep Liquor Market Share Analysis
The corn steep liquor market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Asia-Pacific presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to corn steep liquor market.
Some of the major players operating in the corn steep liquor market are:
- Cargill Incorporated (U.S)
- DuPont (U.S)
- Bluestar Adisseo Co. Ltd (China)
- BASF SE (Germany)
- Kemin Industries, Inc. (U.S)
- DSM (Netherlands)
- Associated British Foods plc (U.K)
- Novozymes (U.S)
- Biocatalysts Ltd. (U.K)
- Amano Enzyme Inc. (Japan)
- Kerry Group plc (Ireland)
- Jiangsu Boli Bioproducts Co.Ltd. (China)
- AUM Enzymes (India)
- Antozyme Biotech Pvt Ltd (India)
- Xike Biotechnology Co. Ltd. (China)
- SUNSON Industry Group Co.Ltd (China)
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