Global Dry Milling Market Overview
Dry Milling Market Size was estimated at 48.75 (USD Billion) in 2022. The Dry Milling Market Industry is expected to grow from 51.03(USD Billion) in 2023 to 77.0 (USD Billion) by 2032. The Dry Milling Market CAGR (growth rate) is expected to be around 4.68% during the forecast period (2024 - 2032).
Source Primary Research, Secondary Research, MRFR Database and Analyst Review
Key Dry Milling Market Trends Highlighted
The dry milling market has its own set of challenges as well as opportunities and they are all changing in quick succession. Due to growing concern among consumers regarding their health, there is an increasing trend of consuming whole grain and fiber-rich foods, which is benefitting the dry-milled grains market. The advent of e-commerce and online grocery shopping has brought about a transformation to dry milling manufacturers in locating consumers, thereby enhancing market opportunities. It is also noted that innovations in milling equipment and processes are enhancing productivity and product development, thus fuelling the growth of the market.
Key market drivers include the growing health consciousness among consumers, which causes increased consumption of whole grain and fiber food products. The growing expansion of the food and beverages sector is observed especially in the growing markets and this also helps in market growth. Also, this type of technology is improving product quality while minimizing expenses in production. Therefore, dry-milled goods have become affordable to people.
Some of the latest developments in the market for dry milling are the growing popularity of specific flours like almond flour and coconut flour, given the growing need for gluten-free and paleo diets. This method of including dry milled grains in Additive Convenience Foods such as ready-to-eat cereals and snack products has also started showing growth. Further, the increase in demand for organic dry-milled grains is also due to the rise in popularity of sustainable and eco-friendly packaged food products.
Dry Milling Market Drivers
Rising Demand for Processed Food Products
One of the major driving factors of the dry milling market is the rise in demand for processed food products. Dry milling is a procedure for making grains into flour, meals, grits, and other products. These products are used in the preparation of bakery, pasta, cereals, and snacks, among other food applications. The rise in population and urbanization is increasing the demand for processed food products, which, in turn, accelerates the growth of the dry milling market.According to Industry Research, it is expected to register a CAGR of 4.68% within the period from 2024 to 2032.
Technological Advancements in Dry Milling Processes
Another important driver for the dry milling market is the technological improvement of dry milling processes. The adoption of cutting-edge technologies, such as automated milling systems and optical sorting machines, has made it possible to raise the efficiency and productivity of dry milling. Furthermore, this technological advancement makes it possible to offer new dry milling products. The Dry Milling Market Industry is expected to register a CAGR of 4.68% from 2024 to 2032.
Growing Demand for Gluten-Free Products
The rising demand for gluten-free products is contributing to the growth of the dry milling market. According to a report by Market Estimates Research and Consultants, gluten, a protein found in wheat, rye, and barley, causes digestive problems for celiac disease people or those with gluten intolerance. As a result, dry milling is utilized to create gluten-free flour, which is used to manufacture a range of gluten-free food products. The Dry Milling Market Industry is anticipated to expand at a CAGR of 4.68 percent from 2023 to 2032.
Dry Milling Market Segment Insights
Dry Milling Market Process Insights
The Dry Milling Market segmentation by Process includes Wet Process, dry process and Hybrid Process. The wet Process segment continues to be the largest market, contributing about 45% share of the Dry Milling Market revenue in the current year. The dry Process segment is expected to be the fastest-growing market. The hybrid Process segment is expected to have a growth rate of more than 4.5%. The wet Process involves the soaking of the corn in water after which it is grounded. This process is particularly suitable for producing cornmeal grits and other coarse products.However, the Dry Process does not involve soaking the corn in the water. Instead, the corn is ground into flour. It is especially suitable for the production of fine flours and starches. The Hybrid Process is somewhat a combination of the Wet Process and Dry Process. In this process, the corn is soaked in the water but for a lesser period. The grounded product can be termed as cornmeal, grits, flour, starches and other products. The growth of the Dry Milling Market is heavily dependent on the increasing demand for corn-based products. Cornmeal is a staple food in many countries and is used for preparing a variety of dishes.Similarly, grits is a coarse food made of corn and is particularly suitable for preparing breakfast cereals and side dishes. Flour is an important ingredient in almost all types of baked goods and is also used for preparing pasta and many other products. At the same time, starch is a special type of corn product that has a variety of applications in many food and industrial products. The Dry Milling Market will continue to grow. As stated earlier, the new and innovative corn products will further boost the market.
Source Primary Research, Secondary Research, MRFR Database and Analyst Review
Dry Milling Market Product Type Insights
The Dry Milling Market is segmented by Product Type into Corn Dry Milling, Wheat Dry Milling, Rice Dry Milling, and Soybean Dry Milling. Among these, Corn Dry Milling accounted for the largest revenue share in 2023, owing to the high demand for corn-based products such as starch, sweeteners, and ethanol. The Wheat Dry Milling segment is projected to witness the fastest growth during the forecast period, driven by the increasing consumption of wheat-based products such as flour, semolina, and bran. The Rice Dry Milling segment is expected to hold a significant market share, supported by the growing demand for rice-based products in various applications.The Soybean Dry Milling segment is anticipated to contribute a substantial share of the overall market, driven by the increasing demand for soybean-based products such as soy flour, soy protein, and soy oil.
Dry Milling Market Application Insights
The Dry Milling Market segmentation by Application includes Food Processing, Beverage Production, Animal Feed, Pharmaceuticals, and Chemicals. The Food Processing segment held the largest share of the market in 2023, accounting for over 40% of the Dry Milling Market revenue. The Beverage Production segment is expected to grow at the highest CAGR during the forecast period, driven by the increasing demand for packaged beverages such as juices, soft drinks, and alcoholic beverages. The Animal Feed segment is also expected to witness significant growth due to the rising demand for animal protein and the need for cost-effective feed ingredients.The Pharmaceuticals and Chemicals segments are expected to contribute steadily to the overall market growth.
Dry Milling Market End-User Industry Insights
The End-User Industry segment plays a crucial role in shaping the dynamics of the Dry Milling Market. The market segmentation offers insights into the diverse applications of dry milling products across various industries. In the Food and Beverage Industry, dry milling is used to produce flour, starch, and other ingredients for various food products, including baked goods, cereals, and pasta. The increasing demand for processed and packaged food products is driving the growth of this segment. The Animal Feed Industry is another significant end-user of dry milling products.Dry milling processes are employed to produce animal feed ingredients such as cornmeal, soybean meal, and wheat middlings. The growing demand for animal protein is expected to boost the demand for dry milling products in this industry. The Pharmaceutical Industry utilizes dry milling techniques to manufacture excipients, which are inactive ingredients used in drug formulations. The increasing prevalence of chronic diseases and the development of new drugs are contributing to the growth of this segment. Moreover, the Chemical Industry employs dry milling to produce biofuels, ethanol, and other chemicals.The rising concerns over environmental sustainability and the shift towards renewable energy sources are driving the growth of this segment. Overall, the End-User Industry segment provides valuable insights into the diverse applications and demand drivers of dry milling products across various industries, enabling market participants to identify growth opportunities and tailor their strategies accordingly.
Dry Milling Market Regional Insights
Regionally, North America is projected to dominate the market, accounting for 35.6% of the revenue in 2023. Europe is estimated to hold a significant share of 28.5%, followed by APAC with 24.2%. South America and MEA are anticipated to contribute 7.1% and 4.6% to the market, respectively, by 2032. The growth in the Dry Milling Market is attributed to increasing demand for processed food products, rising health consciousness, and growing urbanization.
Source Primary Research, Secondary Research, MRFR Database and Analyst Review
Dry Milling Market Key Players And Competitive Insights
Major players in the Dry Milling Market industry are constantly striving to gain a competitive edge by investing in research and development, expanding their product portfolio, and acquiring smaller players. Leading Dry Milling Market players are focusing on innovation and developing new products that meet the evolving needs of customers. They are also expanding their reach through strategic partnerships and acquisitions. The Dry Milling Market development is being driven by factors such as rising demand for processed food products, increasing population, and growing disposable income.Cargill, Incorporated is a leading player in the Dry Milling Market market. The company offers a wide range of dry milling products, including cornmeal, flour, and grits. Cargill has a presence and serves customers in over 125 countries. The company is committed to sustainability and has implemented various initiatives to reduce its environmental impact. Cargill is also actively involved in research and development to improve its products and processes.ADM is a major competitor in the Dry Milling Market market. The company offers a similar range of dry milling products as Cargill. ADM has a strong presence in North America and South America. The company is also expanding its operations in Asia and Europe. ADM is focused on innovation and has developed a number of new products in recent years. The company is also committed to sustainability and has set ambitious environmental goals.
Key Companies in the Dry Milling Market Include
- R. Simplot Company
- Bunge Limited
- Olam International Limited
- Louis Dreyfus Company
- Gavilon LLC
- Wilmar International Limited
- Cargill, Incorporated
- Continental Grain Company
- Viterra Inc.
- The Andersons, Inc.
- CHS Inc.
- Perdue Farms Incorporated
- Archer Daniels Midland Company
Dry Milling Market Industry Developments
The dry milling market is projected to exhibit a CAGR of 4.68% during the forecast period, reaching a valuation of USD 77.0 billion by 2032. The increasing demand for processed food products, particularly in developing regions, is a major driver of market growth. The rising popularity of plant-based diets and the growing awareness of the health benefits associated with whole grains are further contributing to market expansion. Key industry participants are investing in research and development to enhance the efficiency and sustainability of dry milling processes. Technological advancements, such as the adoption of automated systems and the use of advanced quality control techniques, are expected to streamline operations and improve product quality.Recent developments in the dry milling market include the launch of innovative products and the expansion of production capacities. In 2023, Archer Daniels Midland Company announced the launch of a new line of non-GMO cornmeal products, catering to the growing demand for healthier food options. Bunge Limited, another major player in the industry, announced plans to invest USD 250 million in expanding its dry milling facility in Brazil, aiming to meet the increasing demand for corn-based products in the region. These developments indicate the continued growth and dynamism of the dry milling market.
Dry Milling Market Segmentation Insights
Dry Milling Market Process Outlook
- Wet Process
- Dry Process
- Hybrid Process
Dry Milling Market Product Type Outlook
- Corn Dry Milling
- Wheat Dry Milling
- Rice Dry Milling
- Soybean Dry Milling
Dry Milling Market Application Outlook
- Food Processing
- Beverage Production
- Animal Feed
- Pharmaceuticals
- Chemicals
Dry Milling Market End-User Industry Outlook
- Food and Beverage Industry
- Animal Feed Industry
- Pharmaceutical Industry
- Chemical Industry
Dry Milling Market Regional Outlook
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North America
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Europe
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South America
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Asia-Pacific
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Middle East and Africa
| Report Attribute/Metric |
Details |
| Market Size 2022 |
48.75(USD Billion) |
| Market Size 2023 |
51.03(USD Billion) |
| Market Size 2032 |
77.0(USD Billion) |
| Compound Annual Growth Rate (CAGR) |
4.68% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2022 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
J.R. Simplot Company, Bunge Limited, Olam International Limited, Louis Dreyfus Company, Gavilon LLC, Wilmar International Limited, Cargill, Incorporated, Continental Grain Company, Viterra Inc., The Andersons, Inc., CHS Inc., Perdue Farms Incorporated, Archer Daniels Midland Company |
| Segments Covered |
Process, Product Type, Application, End-User Industry, Regional |
| Key Market Opportunities |
Growing demand for processed cereals, Innovations in dry milling technology, Increasing use of dry-milled products in consumer goods,Expansion of the food and beverage industry,Rising health consciousness among consumers. |
| Key Market Dynamics |
Rising health consciousness, Increasing demand for bakery products, Technological advancements, Growing glutenfree food market, Government regulations. |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The dry milling market is projected to register a CAGR of 4.68% from 2024 to 2032.
The dry milling market is estimated to be worth USD 51.03 billion in 2023.
The dry milling market is estimated to be worth USD 77.0 billion in 2032.
North America is expected to hold the largest share of the dry milling market in 2032.
Major applications of dry milling products include animal feed, food ingredients, and biofuels.
Key competitors in the dry milling market include Archer Daniels Midland Company, Bunge Limited, and Cargill, Incorporated.
Factors driving the growth of the dry milling market include rising demand for animal feed and food ingredients and increasing use of biofuels.
Major challenges facing the dry milling industry include competition from alternative protein sources and fluctuating commodity prices.
Key trends shaping the future of the dry milling market include increasing adoption of sustainable practices and growing demand for plant-based foods.
Potential opportunities for growth in the dry milling market include expanding into new markets and developing innovative products.
