Dry Milling Global Market Report 2024: Market Size To Reach $155.63 Billion By 2028

The Business Research Company’s Dry Milling Global Market Report 2024 – Market Size, Trends, And Market Forecast 2024-2033

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How Has the Dry Milling Market Performed Recently, and What Does This Mean for the Future?

The dry milling market has seen substantial growth in recent years. Rising from $104.19 billion in 2023, it is set to reach $111.9 billion in 2024, demonstrating a compound annual growth rate CAGR of 7.4%. This growth within the historic period is mainly attributed to factors including changing consumer preferences, regulatory changes, local and terroir focus, marketing and branding, and the cocktail culture.

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What is anticipated for the Dry Milling Market Forecast?

Looking forward, we anticipate strong growth in the dry milling market. This ever-expanding market is predicted to reach $155.63 billion in 2028, growing at a CAGR of 8.6%. The growth forecast in this period can be attributed to the continued growth of the premium segment, health and wellness, digital marketing and e-commerce, an aging population, and whiskey aging and maturation. Other significant trends to watch in the forecast period include low- and no-alcohol options, regional and terroir-driven offerings, ready-to-drink RTD cocktails, innovative aging techniques, and impending growth in digital marketing and e-commerce.

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What is Driving The Growth Of The Dry Milling Market?

The surge in the consumption of corn flour-processed snacks around the world is expected to push forward the growth of the dry milling market. Corn flour - made from dried whole corn kernels and derived from dry milling of corn - is a commonly utilized staple food in the preparation of a multitude of food items. As reported by the Institute of Food Technologists IFT in November 2021, the number of snacks sold in the US increased by 5% with the average adult consumption reaching 2.7 snacks per day. This heightened consumption of corn flour-processed snacks is a key driver for the growth of the dry milling market in the forecasted period.

Which Major Players Are Dominating the Dry Milling Market?

Prominent companies operating in the dry milling market extend from Archer Daniels Midland Company, Bunge Limited, C.H Guenther And Son Incorporated, Cargill Inc., Didion Milling, and Flint Hills Resources LP, to LifeLine Foods Pvt. Ltd., Green Plains Inc., Semo Milling, Valero Energy Corporation, Pacific Ethanol Inc., Alto Ingredients Inc., and FRITSCH Co. Others include SunOpta Inc., Millmore Engineering Private Limited, Hosokawa Micron Powder Systems, Quadro Engineering Corp., Frewitt Ltd., and KemutecGroup Ltd., as well as Sturtevant Inc., Buhler AG, GEA Group AG, Hosokawa Alpine AG, IKA Works GmbH & Co. KG, Netzsch Grinding & Dispersing, Pallmann Maschinenfabrik GmbH & Co. KG, Schenck Process Holding GmbH, Union Process Inc., WAB Group, and Yenchen Machinery Co. Ltd.

Are There Any Innovations In The Dry Milling Market?

Technological advancements appear as a key trend popularizing the dry milling market. Most companies operating in the dry milling sector are concentrating on developing new technologies to maintain their position in the market. A noteworthy move came about in December 2021 when India-based Rieco Industries Limited launched an air classifying action mill, RACAM, pioneering in dry powder grinding and air and dust separation. This machine offers advantages including larger capacity, higher efficiency, less noise, and easy cleaning and usage, contributing to a more effective and simplified dry milling process.

How is the Dry Milling Market Segmented?

The dry milling market report divides this sector into three segments:

1 By Source: Yellow Corn, White Corn
2 By Product: Ethanol, Dried Distillers Grain With Soluble DDGS, Corn Grits, Corn Meal, Corn Flour, Other End Products
3 By Application: Fuel, Feed, Food

What Are The Key Regions In The Dry Milling Market?

In 2023, Asia-Pacific was the largest region in the dry milling market. Furthermore, Asia-Pacific is predicted to be the fastest-growing region in the market for the forecast period. The other regions covered in the dry milling market report include Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

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