Global Market Study on Corn Steep Liquor: Rapid Shift to 'Organics' Likely to Foster Demand through 2028

Corn Steep Liquor  Market
  • Published On : Mar-2019 |
  • Pages : 208 Pages |
  • Format : Corn Steep Liquor  Market Corn Steep Liquor  Market Corn Steep Liquor  Market Corn Steep Liquor  Market

Market Introduction

Corn steep liquor is a yellowish-brown, thick liquid, which is a by-product of the starch industry/ ethanol fermentation industry. Corn steep liquor is named so because of the fact that it is made possible only through a wet milling process called steeping. Steeping is a process in which the corn is steeped in warm water for 40-48 hours, during which, the soluble parts of the corn kernels are absorbed in the steeping water. The steeping water is then removed, and this is called corn steep liquor.

Corn steep liquor is processed by evaporating the moisture to around 50% to obtain a slurry-like corn steep liquor. Alternatively, the moisture can be brought down to 5-10%, and converted into a powdered form of corn steep liquor, which can be useful in animal nutrition as well as an organic fertilizer. This obtained corn steep liquor liquid or powder is high in nutritional value. Corn steep liquor is an extremely rich source of protein, amino acids, nitrogen, vitamins, and minerals.

Corn steep liquor analyzed by the nature of the product:

  • Organic
  • Conventional

Various forms of corn steep liquor:

  • Powder
  • Liquid

Different applications for which corn steep liquor are used:

  • Fertilizers
  • Fermentation
  • Animal Feed
  • Swine
  • Ruminants
  • Poultry
  • Others

Cost-Feasibility of Corn Steep Liquor Places it in a Favorable Spot within Developing Countries

Corn steep liquor, being a by-product of the starch industry, has always been available at a reasonable cost. But this very trait of corn steep liquor is considerably important now more than ever, since the feed conversion rate for animals is as high as it could be. Corn steep liquor proves to be an efficient and cheaper way to incorporate all the necessary nutrients for animals. Corn steep liquor can provide animals with a rich source of proteins, amino acids, and vitamins, to achieve optimal growth in a shorter timeframe.

Corn steep liquor also provides multiple other benefits along with just the nutritional aspect for animal feed. Corn steep liquor, when used in compound feed pellets, acts as an excellent feed binder. When used in poultry feed, corn steep liquor helps in reducing free dust particles, and provides a grain-like appearance and color to the feed, making it more acceptable to birds.  The multifaceted beneficial nature of corn steep liquor is why the product has been gaining traction in the market lately.

Corn Steep Liquor Finds High Applicability in Organic Fertilizers

Corn steep liquor is a prominent contender for an organic fertilizer. The product is rich in amino acid, minerals, and vitamins. Corn steep liquor is considered most ideal for organic agriculture because of the free nitrogen content the product has for ready absorption by plants, helping in the rapid growth and development of the plants.

Organic agriculture and the growing trend of organic foodstuff are major driving factors for the increasing demand for corn steep liquor. In 2017, there was a 20% growth in organic farmland over the previous year, and a 12.5% increase in organic agriculture producers, worldwide, leading to the increased demand for organic agriculture aids, globally.

Developing countries such as India, Mexico, and Uganda hold the top spots for organic agriculture produce. As such, the opportunities for growth in the demand for corn steep liquor are present in developing countries. While, developed countries have the highest demand for organic agricultural produce.

Increased Meat & Meat Products Consumption Pushing Livestock Businesses, Creating Opportunities for Feed Additives Such as Corn Steep Liquor

With a constantly increasing global population and increasing demand for proteins as a result of increasing per capita income, the demand for meat and meat product has never been higher. To meet this increasing demand for meat and meat products, livestock rearers have to depend upon proper nutrition of the livestock to obtain optimal growth and high-quality meat.

Corn steep liquor is such an additive that can provide the required nutritional profile, for a fraction of the cost of premium nutrition products. Since feed costs take up a majority of the cost that goes into livestock businesses, bringing it down is significantly important for business owners, making corn steep liquor the additive of choice for livestock rearers.

Corn Steep Liquor Still Facing Relatively Low Penetration Rate against Synthetic Fertilizers

Even though corn steep liquor has multiple benefits, the market for fertilizers and feed additives is still saturated with chemical fertilizers and feed additives. Corn steep liquor has not attained the level of recognition and penetration that competes with conventional feed additives/fertilizers.

Since the marketing and availability of synthetic/chemical fertilizers are very aggressive as compared to that of corn steep liquor, product penetration is very low in developing countries. Some of the major manufacturers do not offer the product in many developing areas, making it even harder to gain traction in some geographies.

Corn Steep Liquor Market: Report Highlights

The corn steep liquor market report analyzes the opportunities in the global market, analyzing the data on a historical basis, estimated data for 2018, and forecasted data till the year 2028. Market analysis includes data in terms of both, value (US$) and volume (MT). The market outlook of the corn steep liquor market report covers a feed industry overview, global meat industry outlook, macroeconomic outlook, and forecasted factors.

The market dynamics section includes key drivers, trends, and restraints prohibiting the growth of the corn steep liquor market, value chain analysis, and others. Competitive landscape of multinational players operating in the business of corn steep liquor, and market attractiveness analysis by nature, form, application, and region are some of the key insights covered in the report.

Corn Steep Liquor Market: Taxonomy

The research report assesses the market share of the corn steep liquor market on a global perspective by nature, form, application, and regional segments. The regional segment includes the corn steep liquor markets of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa.

The report provides a market outlook for historical data for 2013–2017, and forecasted data for 2018–2028. This study includes an in-depth analysis of the global corn steep liquor market, including new recent developments, product offerings by key corn steep liquor manufacturers, opportunity assessment, and key drivers and trends contributing towards the growth of the corn steep liquor market, globally.

Research Steps for Market Crackdown

The global corn steep liquor market report begins with estimating the market in the base year in terms of value and volume consumption. To arrive at the volume consumption of corn steep liquor, Persistence Market Research (PMR) estimated volume data on the consumption of corn steep liquor in several countries by understanding the demand and supply of corn steep liquor. It includes the estimated volume data on the wet milling of corn and production of corn steep liquor by major market players. It also includes data about production, growth, volume and value sales, transition, pricing, and consumption of corn steep liquor in animal feed, fertilizers, and in industrial fermentation.

The consumption and production of different forms of corn steep liquor were also analyzed across multiple regions to support the corn steep liquor market forecast. PMR then determined the volume consumption of corn steep liquor across various regions such as North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa.

To forecast and analyze the data, an internal proprietary model is used by analyzing different macro-economic, industry-based demand driving factors impacting the corn steep liquor market, and its forecast trends. Factors include the growth of the global feed industry using corn steep liquor and its sub-industry verticals, growth of the meat industry, and growth in organic agriculture, consumption pattern, per capita expenditure, and others. Further, by identifying and allocating a weighted score to the macroeconomic and forecast factors that influence the demand for corn steep liquor, the market is assessed.

Factors such as the production of corn steep liquor, consumption patterns among end-user industries such as the feed industry, industrial fermentation, and organic agriculture have been taken into account to arrive at the volume consumption of corn steep liquor in respective countries. Factors such as global meat production, global starch industry, and ethanol production of each region have also been considered for the market estimation of corn steep liquor. While analyzing the market, valid and authorized secondary data sources were considered, and primary interviews were also conducted in order to arrive at reliable and accurate data about the corn steep liquor market.

To analyze the pricing of corn steep liquor, the weighted average selling price method for corn steep liquor was considered. These prices were confirmed in their respective countries, and then converted into USD to offer forecasts in one consistent currency standard.

Given the characteristics of the market, PMR triangulated the data based on the demand side, supply side, and market dynamics of the global corn steep liquor market. To develop the global corn steep liquor market forecast, PMR analyzed various factors to understand their respective impacts on the target market. However, quantifying the market across segments such as form and application is more a matter of quantifying expectations and analyzing the opportunities rather than rationalizing them after the forecast has been completed.

It is imperative to note that, in an ever-fluctuating economy, PMR not only provides forecasts in terms of CAGR but also analyzes on the basis of key parameters such as year-on-year (Y-o-Y) growth to understand the predictability of the market and identify the right opportunities.

Another key feature of this report is the market attractive index of each segment in the global corn steep liquor market, and the corresponding revenue forecast in terms of absolute dollar opportunity. To understand the key segments in terms of their growth and performance in the global corn steep liquor market, Persistence Market Research has presented a market attractiveness index. The resulting index should help providers identify existing market opportunities in the global corn steep liquor market on the basis of market size, market share, and incremental opportunity.

Revenue forecast in terms of absolute dollar opportunity is usually overlooked while forecasting the market. However, absolute dollar opportunity is critical in assessing the level of opportunity that a provider can look to achieve, as well as to identify potential resources from a sales perspective in the global corn steep liquor market.

In the final section of the report on the global corn steep liquor market, a competitive landscape is included to provide a dashboard view of global corn steep liquor manufacturers. This section also includes a list of the key distributors and suppliers of corn steep liquor and feed additives. During the course of research, many secondary and primary sources were considered. Secondary sources include paid research papers based on corn steep liquor, databases, annual reports_bk_01_01_2020, investor presentations, publications, newsletters, blogs, reports_bk_01_01_2020 published by industry associations, and other sources.

Detailed company profiles of corn steep liquor manufacturers are included in the scope of the study to evaluate their key strategies, key developments in the corn steep liquor market space, and regional presence. Some of the key players analyzed are Tate & Lyle Plc, Cargill Inc, Archer-Daniels-Midland Company, Ingredion Incorporated, Tereos SA, Global Bio-chem Technology Group Company Limited, Juci Corn Biotechnology Co., Ltd, Sanstar Bio-Polymers Ltd, Baolingbao Biology Co., Ltd., Gulshan Polyols Limited, etc.

Companies covered in Corn Steep Liquor Market Report

Company Profiles:

  • Tereos
  • Cargill, Inc. Overview
  • Ingredion Incorporated Product Portfolio
  • Archer-Daniels-Midland Company 
  • Tate & Lyle Plc
  • Global Bio-chem Technology Group Company Limited 
  • Juci Corn Biotechnology Co.,Ltd
  • Sanstar Bio-Polymers Ltd. 
  • Baolingbao Biology Co.,Ltd. 
  • Gulshan Polyols Limited 


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