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the dry milling market has experienced robust growth, soaring from $104.19 billion in 2023 to a projected $111.9 billion in 2024. This upward trajectory is marked by a commendable Compound Annual Growth Rate (CAGR) of 7.4%. Consumer preferences, regulatory changes, local and terroir focus, marketing, and the evolving cocktail culture have significantly contributed to this transformative growth.

Future Trajectory: A Strong Growth Trajectory Awaits

The dry milling market is poised for sustained growth in the coming years, expected to reach $155.63 billion in 2028. Anticipating a robust Compound Annual Growth Rate (CAGR) of 8.6%, this growth can be attributed to several factors, including the continued expansion of the premium segment, the burgeoning focus on health and wellness, the digital revolution in marketing and e-commerce, the aging population, and the dynamics of whiskey aging and maturation. The forecasted period will be characterized by major trends such as the rise of low- and no-alcohol options, the surge in regional and terroir-driven offerings, the popularity of ready-to-drink (RTD) cocktails, innovative aging techniques, and an increasing reliance on digital marketing and e-commerce.

Increase In The Consumption Of Snacks Using Corn Flour

Riding on Snacking Trends:

The surge in the consumption of corn flour-processed snacks globally is expected to be a pivotal driver for the ongoing and future growth of the dry milling market. Corn flour, derived from the grinding of dried whole corn kernels, is a staple food used in the preparation of various food items. With a notable increase in the number of snacks consumed in the US, rising by 5%, and US adults averaging 2.7 snacks per day, the demand for corn flour-processed snacks is on the rise, significantly propelling the dry milling market. Key players contributing to this trend include Archer Daniels Midland Company, Bunge Limited, C.H Guenther And Son Incorporated, and others.

Industry Impact:

Major companies operating in the dry milling market are playing a vital role in meeting the demand generated by the rise in corn flour-processed snacks. Their strategic presence and offerings contribute substantially to the market’s overall growth. Notable names in the industry landscape include Green Plains Inc., Semo Milling, Valero Energy Corporation, and others.

Development Of Innovative Technological Solutions

Tech-Driven Trends:

Innovation and the development of cutting-edge technological solutions emerge as a pivotal trend in the dry milling market. Notably, companies such as Rieco Industries Limited are focusing on creating innovative technological solutions. Rieco’s RACAM, an air classifying action mill for dry powder grinding, stands out with its unique feature of air and dust separation. This advancement brings efficiency, larger capacity, reduced noise, and ultra-fine grinding powder, marking a significant step in enhancing the dry milling process. Such technological strides indicate the industry’s commitment to staying at the forefront of innovation.

Strategic Acquisitions:

Strategic moves, such as the acquisition of Great River Milling by Columbia Grain International (CGI) in June 2023, further exemplify the dynamism within the dry milling market. CGI’s integration of its Balanced Bushel brand of dry beans and pulses into its portfolio aligns with the evolving consumer preferences and the demand for organic and high-quality grain milling.

Navigating Segments: The Dry Milling Market Landscape

Segmentation Insights:

The dry milling market unfolds across various segments, including source (Yellow Corn, White Corn), product (Ethanol, Dried Distillers Grain With Soluble – DDGS, Corn Grits, Corn Meal, Corn Flour, and Other End Products), and application (Fuel, Feed, Food). This segmentation provides a nuanced understanding of the diverse dynamics within the market, reflecting the multifaceted applications of dry milling.

Regional Impact:

Asia-Pacific emerges as the largest region in the dry milling market in 2023. This regional dominance is driven by factors such as changing dietary preferences, a growing population, and an increasing focus on local and terroir-driven offerings. Moreover, Asia-Pacific is poised to be the fastest-growing region during the forecast period, showcasing the region’s pivotal role in shaping the future of the dry milling market.

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The Dry Milling Global Market Report 2024  provides an overview of the dry milling market for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The dry milling market forecast analyzes dry milling market size, dry milling market share, leading competitor and their market positions.

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