The Hominy Feed Market is estimated to be valued at US$ 1.25 Bn in 2023 and is expected to exhibit a CAGR of 6.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Hominy feed is a co-product of corn wet milling made by soaking dried corn kernels in water to dissolve the germ and bran. It has a dilute solution of alkali and acid, which removes the hull and germ, leaving the endosperm. Hominy feed has a texture similar to cracked corn and is a good source of fiber, energy and nutrients for livestock. It is widely used as feed for cattle, swine, poultry and other animals.

Market key trends:
One of the major trends driving the growth of the hominy feed market is the increasing demand for organic animal feed. Organic cattle feed is mainly a mixture of certified organic grains, protein meals, molasses or beet pulp. Hominy feed is considered as an organic feed as it is a co-product of corn wet milling. The organic hominy feed options provide animals with essential nutrients and also benefits farmers by reducing their reliance on chemical fertilizers and GMO crops.

Porter’s Analysis
Threat of new entrants: The hominy feed market has moderate threat of new entrants due to the established infrastructure, technical expertise required and regulations related to animal feed production.

Bargaining power of buyers: Customers have medium bargaining power in the hominy feed industry due to the availability of substitute products.

Bargaining power of suppliers: Corn suppliers have moderate bargaining power since hominy is a byproduct of corn refining and producers can switch suppliers easily.

Threat of new substitutes: Substitute products like soybean and wheat provide low-level threat in the livestock feed industry.

Competitive rivalry: The hominy feed market witnesses high competition among existing producers.

SWOT Analysis
Strength: Hominy feed offers high nutritional value and low cost compared to other cereals, supporting the profitability of livestock producers.

Weakness: Fluctuating corn prices impact the cost of hominy feed production. Limited applications compared to other animal feed crops.

Opportunity: Growing demand for animal protein has increased hominy feed consumption. new technologies help expand applications of hominy coproducts.

Threats: Strict regulations surrounding GMO crops affect corn and hominy supply. Volatile weather conditions impact corn yields.

Key Takeaways
The global Hominy Feed Market Share is expected to witness high growth, exhibiting CAGR of 6.9% over the forecast period, due to increasing meat consumption worldwide. The market size for 2023 is US$ 1.25 Bn.

Regional analysis: North America dominates the global hominy feed market currently. The US accounts for over 30% share due to high cattle production. However, Asia Pacific is projected to grow at the fastest pace during the forecast period, driven by rising meat demand from China and India.

Key players operating in the hominy feed market are Cargill, Archer Daniels Midland Company (ADM), Bunge Limited, Ingredion Incorporated, Associated British Foods (ABF), Tate & Lyle, Agrana Beteiligungs AG, The Scoular Company, Grain Processing Corporation (GPC), Didion Milling. These major companies are focusing on production expansion and new product launches to strengthen their market position.

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