Industry Background:
Hominy feed is a mixture of corn bran germ and an unextracted starchy portion of the kernel. It is known as a high energy feed, that is becoming a big alternative to corn in livestock and poultry rations. Hominy feed can efficiently similar ingredients for dairy cattle feeding. These are known as mechanically processing corn by grinding, sifting, and separating, concentrates the desirable protein, fat, and many other nutrients in hominy. Hominy, being previously milled, requires no further food processing. It is considered as a high-energy feed and that replaces corn in livestock and poultry rations. Hominy feed is known as a low-value coproduct of the corn dry milling process that covers nearly 35% of the starting corn quantity.
According to AMA Research, the market for Hominy Feed is expected to register a CAGR of 6.7% during the forecast period to 2030. This growth is primarily driven by Increase in Number of Dairy Farms Across the Globe
.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Volume Unit | K Units |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Food Products sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as Semo Milling, LLC (United States), PV Sons Corn Milling Co. Pvt. Ltd. (India), Bunge North America, Inc. (United States), LaBuddhe Group, Inc. (United States), Commodity Specialists Company (United States), Sharifa Agrotech and Food Processing Pvt. Ltd. (India), Dexterous Products Pvt. Ltd. (India), LaBudde Group, Incorporated (United States), Trishla Industries (India) and Bunge North America, Inc. (United States), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In September 2022, Hominy Feed Plus by Archer Daniels Midland (ADM) (American multinational food processing and commodities trading corporation): This new product is a high-protein, high-fiber hominy feed that is designed to improve the growth and health of livestock. It is made with a blend of corn, soybeans, and hominy, and it is fortified with vitamins and minerals.The manufacturers are operating in this market are exploring their footprint across new geographical regions by adopting various mergers & acquisitions, expansions, investments, new product launches, and many others. Key players are exploring new areas through expansions and acquisitions across the world to avail a competitive advantage through combined synergies.
Regulatory Insights:
PROCESSING GUIDELINES: 5.1 Processing. The grits must be prepared in accordance with Current Good Manufacturing Practices (21 CFR Part 110). 5.2 Food defense. The grits must be processed and transported in accordance to the Food and Drug Administration’s (FDA’s) Guidance for Industry: Food Producers, Processors, and Transporters: Food Security Preventive Measures Guidance.8
Influencing Trend:
Increase in Protein and Fat Percentages May Increase the Market Competitiveness and Price of Hominy Feed and High Investment in Research and Developments
Market Growth Drivers:
Increase in Number of Dairy Farms Across the Globe and Growing Demand for The High Nutrition Contents
Challenges:
High Cost Associated with Manufacturing Process, Disruption In Supply Channels, High Manufacturers Dependence on Single Suppliers and Difficulties In Monitoring Production Risks Such as High-Quality Product Assurance
Restraints:
Highly Competitive Environment due to the Presence of Several Domestic and International Players Within the Market
Opportunities:
Increase Usage of Hominy Feed in the Non-Ruminant’s Ration
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Hominy Feed Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Hominy Feed Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols:
By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Hominy Feed players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Hominy Feed Study Sheds Light on
The Hominy Feed Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Hominy Feed industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Hominy Feed industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.