Burgeoning Healthcare Sector anticipated to Increase the valuation of Corn Milling Machine Market to US$ 30177.17 million by 2033: FMI Presents Key Takeaways

The global corn milling machine market is expected to grow at a CAGR of 4.4% during the forecast period. The market is valued at US$ 19618.85 million as on 2023, and by 2033, the market is anticipated to reach a valuation of US$ 30177.17 million.

One of the major factors boosting the market growth is the increased consumption of corn-based drinks. The processed form of corn that is obtained from these machines is used for making corn-based spirits, which is famous across Europe. This might increase the demand for corn milling machines during the forecast period.

Apart from that, if we have a look at the healthcare sector, the processed form of corn is used in this sector as well. Being a rich source of Zinc, Magnesium, etc. the doctors are prescribing dosages of medicines, which make use of this processed corn. The sealing and adhesives market is another niche where the processed form of corn is used. The fine form of corn that is obtained from the industrial corn milling machine is used to increase the adhesiveness and the stickiness of the product.

The global bakery market is currently valued at more than US$ 275 billion and is expected to grow at a CAGR of nearly 4%. The bakery market has been making use of processed corn in products like muffins, bread, rolls, etc. for enhancing the taste and a variety of other purposes. This might well increase the sales of corn milling machines during the forecast period. The processed corn, that is obtained from corn processing equipment is also used in the chemical sector. Owing to its versatile, biodegradable, and environment-friendly properties, these processed corns are gradually replacing synthetic chemicals. This shows huge prospects for the market going ahead.

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Thus, from the analysis conducted by FMI, it can be inferred that, "the application of processed corns in a variety of sectors which include pharmaceutical, bakery, chemical, adhesives, etc. is expected to surge the corn milling machine market during the period 2023-2033."

Key Takeaways:

The corn milling machine market is valued at US$ 19618.85 million as on 2023.
By 2033, the market is expected to reach a valuation of US$ 30177.17 million.
The market is expected to grow at a CAGR of 4.4% during the period 2023-2033.
The US corn milling machine market is valued at US$ 5885.65 million as on 2023 and is expected to grow at a CAGR of 4.6% during the forecast period.
The UK market is valued at US$ 1039.80 million as on 2023 and is forecasted to grow at a CAGR of 4.6% during the forecast period.
The China corn milling machine market is expected to be valued at US$ 3659.77 million by 2033, and is expected to grow at a CAGR of 8.7% during the forecast period.
The Japan market holds a valuation of US$ 1373.32 million as on 2023, and is projected to expand at a sturdy CAGR of 10.1% through 2033.
The South Korea corn milling machine market is expected to grow at a CAGR of 10.6% through 2033, and by 2033, the market is expected to be valued at US$ 1504.47 million.
Based on the end product, the starch segment holds the highest market share, and is anticipated to grow at a CAGR of 4.5% during the forecast period.
Based on the equipment, the centrifuge systems segment holds the highest market share, and is anticipated to grow at a CAGR of 5.7% during the forecast period.

Competitive Landscape

The key players operating in the corn milling machine market are establishing strategic partnerships with players from other niches to expand their portfolio. Apart from that, the key players are also getting involved in mergers and acquisitions to expand their market share.

Some of the recent developments are:

In October 2022, Tate and Layle announced that it supported new research to improve understanding of healthier and more sustainable food choices.
In November 2022, Archer Daniel Midland Company announced that it expanded Research and Quality capabilities with New North America Microbiology laboratory.

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Key Companies Profiled

Tate and Lyle PLC (UK)
Archer Daniel Midland Company
Cargil Incorporate Agrana Beteiligungs-AG
The Roquette Feres, Bunge Limited
China Agri-industries Holding Limited
Global Bio-Chem Techonology group company
Grain Processing Corporation

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About Future Market Insights (FMI)

Future Market Insights (ESOMAR certified market research organization and a member of the Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favour the market growth in various segments based on Source, Application, Sales Channel and End-Use over the next 10 years.

This release was published on openPR.