The Distillers Grains Market is estimated to be valued at USD 10.78 Billion in 2018 and is projected to reach USD 14.95 Billion by 2023, at a CAGR of 6.8%. The market is driven by distillers’ grains being used as a favorable alternative to traditional feedstock and growth of the organized livestock sector.
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Asia Pacific is projected to be the fastest-growing market during the forecast period
The Asia Pacific market is projected to grow at the highest CAGR from 2018 to 2023. The increase in demand for animal-based products; growth of the regional population; the rise in disposable incomes; the rise in urbanization, especially in China, India, and Japan; and continuous modernization in the feed industry drive the distillers’ grains market in Asia Pacific.
The market in North America is driven by the high production and consumption of distillers’ grains in the US market. Further growth can be attributed to the growing trade of distillers’ grains from the US to Canada and Mexico, due to the North American Free Trade Agreement (NAFTA).
This agreement allows duty-free access to all products promoted by the United States Grains Council (USGC) which include distillers’ grains. The Asia Pacific market is projected to grow at the highest CAGR from 2018 to 2023. The increase in demand for animal-based products; growth of the regional population; the rise in disposable incomes; the rise in urbanization, especially in China, India, and Japan; and continuous modernization in the feed industry drive the global market in Asia Pacific.
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Lack of awareness in developing countries, fluctuating prices of grains, and Ill-effects of excess consumption are the major restraints for the growth of this market.
The global market for distillers’ grains is dominated by large-scale players such as Green Plains Inc. (US), Pacific Ethanol, Inc. (US), Flint Hill Resources (US), Valero (US), and CropEnergies AG (Germany).
ADM (US), Husky Energy (Canada), Bunge Limited (US), Purina Animal Nutrition (US), Poet LLC (US), Didion Milling Inc. (US) and Greenfield Global (Canada) are the other players that hold a significant share in the global market.
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