Dry Milling Global Market Report 2024 - By Share, Size, Demand, Drivers, Outlook By 2033

The dry milling market has witnessed robust growth, with an increase from $104.19 billion in 2023 to $111.9 billion in 2024, reflecting a Compound Annual Growth Rate (CAGR) of 7.4%. This growth trajectory is expected to continue, with projections indicating a surge to $155.63 billion by 2028 at a strong CAGR of 8.6%.

Key Drivers of Market Growth:
1. Rise in Snack Consumption with Corn Flour:
The global increase in the consumption of corn flour-processed snacks is anticipated to drive the growth of the dry milling market. Corn flour, derived from dried whole corn kernels, is a staple ingredient in various food items. The Institute of Food Technologists (IFT) reported a 5% increase in snack sales in the US in November 2021, with US adults consuming up to 2.7 snacks per day. This trend is a key factor propelling the growth of the dry milling market.

2. Surge in Bakery Products Consumption:
The growing consumption of bakery products is a significant driver for the dry milling market. The dry milling process, involving the grinding of dried grains like corn, produces flour used in the preparation of bakery items. According to a Sector Trend Analysis report on bakery products in the United States, retail sales of baked goods reached $67.9 billion in 2021 and are projected to reach $75.8 billion by 2026. This surge in bakery product consumption contributes to the strong growth of the dry milling market.

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Leading Market Players:
Major companies shaping the dry milling market include Archer Daniels Midland Company, Bunge Limited, Cargill Inc., Flint Hills Resources LP, and Green Plains Inc. These key players contribute significantly to meeting the rising demand for dry milling products.

Market Trends:
1. Development of Innovative Technological Solutions:
Technological advancements are a prominent trend in the dry milling market, with companies focusing on the development of new technologies. Rieco Industries Limited launched RACAM in December 2021, an air classifying action mill for dry powder grinding featuring air and dust separation. This innovation enhances various activities in dry milling, providing advantages such as increased capacity, higher efficiency, and reduced noise.

2. Focus on Launch of New Products:
Companies operating in the dry milling sector emphasize the development and launch of new products to strengthen their market positions. Ulrick & Short, for example, launched Fazenda Nutrigel in June 2021, a functional flour made through the dry milling process. This product enhances viscosity, texture, and structure in gluten-free bakery applications, showcasing versatility in both sweet and savory bakery products.

Regional Dynamics and Market Segmentation:
Asia-Pacific dominates the dry milling market in 2023, and it is expected to be the fastest-growing region during the forecast period.

The dry milling market covered in this report is segmented -
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

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Dry Milling Global Market Report 2024 from TBRC covers the following information:
• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Dry Milling Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on dry milling market size, dry milling market drivers and trends, dry milling market major players, competitors' revenues, market positioning, and market growth across geographies. The dry milling market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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