Co-product is manufactured by mixing fibre, concentrated steepwater, and germ meal, and is termed as corn
gluten feed. The ongoing research for improving the corn wet milling process includes adding protease enzymes
and phytic acid degrading enzyme during steeping process to reduce steeping time, and has presented a two-
stage procedure.
Corn wet milling market is segmented on the basis of application, source, end product, equipment, and the
geographical region. The segments based on application are feed, food, and industrial. The segments based on
source are waxy corn and dent corn. End products are starches, ethanol, sweeteners, gluten meal, gluten feed,
step liqor, corn oil, and corn germ meal. Equipment based segments include milling equipment, washing and
filtration systems, steeping equipment, centrifuge systems, and other equipment.
Amongst the application based segments, feed application leads the current market. This can be attributed to
growing demand for feed containing animal proteins in the meat industry, and gluten meal has abundant
proteins. Dent corn is widely used for producing corn syrup and ethanol. Centrifuge systems used for starch
recovery have so far dominated the market.
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Sweeteners hold the largest market share and will continue to ace the market in the forecast period. Application
of corn sweeteners in the food industry is driving market growth. North America currently leads the corn wet
milling market due to presence of various end user industries. Asia Pacific is expected to have a linear growth
over the forecast period. China and Brazil are considered to be lucrative markets in the forecast period.
Key players in the corn wet milling industry are Ingredion Inc, Global Bio-chem Group of Companies Ltd, Cargill,
Agrana, Tate & Lyle, Bunge, Roquette Freres, China Agri Industries Holdings Ltd, Grain Processing Corporation
and Archer Daniels Midland Company. Amongst the latest M&A activity, Archer Daniels Midland Company
acquired Eaststarch CV in April 2015 and Tate & Lyle PLC in February 2016. Roquette Freres acquired Riddhi
Siddhi Gluco Biols Ltd in 2012, Jungbunzlauer Swiss AG acquired Ingerdion’s corn wet milling facility in Canada
in December 2015, Agrana acquired SCAGFD Tandarei SRL in 2002.
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