Hominy Feed Market, By Type of Hominy W(hite Hominy, Yellow Hominy), By Form (Whole Hominy, Crushed Hominy), By Application (Livestock Feed, Industrial Uses, Human Consumption), By Distribution Channel (Direct Sales, Indirect Sales), By Processing Method (Traditional, Modern/Industrial), By Price (Premium, Android Mid-range, Low-end), By Geography (North America, Latin America, Europe, Asia Pacific, Middle East & Africa)
The Global Hominy Feed Market size was valued at US$ 1.25 Bn in 2023 and is expected to reach US$ 1.99 Bn by 2030 and is projected to grow at a CAGR of 6.9% from 2023 to 2030. The growth of the market is primarily driven by the increasing demand for poultry and livestock products, rising awareness about the benefits of hominy feed, and the growing industrialization of the animal feed industry.
Hominy feed is a type of animal feed that is made from corn that has been treated with lime to remove the hull and germ. This process makes the corn more digestible for animals and increases its nutritional value. Hominy feed is a good source of energy, protein, and fiber, and it is often used as a feed supplement for poultry and livestock.
Global Hominy Feed Market Regional Insights
North America is the largest market for hominy feed, accounting for a share of over 30% of the global market in 2023. The growth of the market in North America is driven by the high demand for healthy and nutritious feedstock for animals and poultry. The region has a large livestock population, and there is growing awareness among farmers about the benefits of using hominy feed in animal diets. Additionally, the presence of a large number of key market players in the region is also contributing to the growth of the market.
Asia Pacific is the second-largest market for hominy feed, accounting for a share of over 25% of the global market in 2023. The growth of the market in Asia Pacific is driven by the high demand for milk and milk products in the region. The increasing consumption of milk and milk products has led to a high demand for healthy and nutritious feedstock for dairy cattle. Additionally, the growing poultry industry in the region is also driving the demand for hominy feed.
Europe is the third largest market for hominy feed, accounting for over 15% of the global market in 2023. The growth of the market in Europe is driven by the increasing awareness among consumers about the benefits of using hominy feed in animal diets. Additionally, the presence of a large number of key market players in the region is also contributing to the growth of the market.
Figure 1. Global Hominy Feed Market Share (%), by Region, 2023
Demand in the Livestock Industry: The growth in the livestock sector, particularly the poultry and pork industries, often translates to increased demand for feed. As these industries expand, the need for affordable and nutritious feed options, like hominy, rises. For instance, in 2 Feb 2023, according to U.S. Department of Agriculture commercial beef production is projected to grow through 2032, after contracting in 2023 and 2024. Commercial slaughter volumes and weights are expected to increase, expanding production to record levels by 2032.
Corn Production: Since hominy feed is a byproduct of the maize milling process, the availability and price of corn directly affect the global hominy feed market. Increased corn production can lead to more supply of hominy feed. For instance, in September 2022, in 2023, the U.S. Department of Agriculture (USDA) forecasted an increase in US corn production, while soybean and cotton production were expected to decrease from 2022.
Nutritional Value: Hominy feed is rich in energy and fiber, making it a beneficial ingredient for animal feed. As awareness of its nutritional profile grows, so does the demand.
Sustainability and Waste Reduction: The use of byproducts, like hominy feed, in animal nutrition is seen as a sustainable approach to resource utilization. It minimizes waste in the food production chain.
Global Hominy Feed Market Opportunities
Expanding Livestock Industries: As countries undergo economic development, their consumption of meat products often rises. This creates an opportunity for hominy feed producers to target expanding livestock sectors, especially in emerging economies.
Incorporation in Pet Foods: With the increasing demand for nutritious pet food, hominy can be explored as an ingredient given its rich nutrient profile.
Increased Awareness and Education: The nutritional benefits of hominy feed are not universally known. By creating awareness campaigns and educational programs for farmers and feed manufacturers, there's an opportunity to increase adoption.
Diversified Product Offerings: Companies can look into diversifying their product range by blending hominy feed with other nutritious ingredients to enhance its value proposition.
Global Hominy Feed Market Trends
Shift towards Sustainable Animal Feed: With increasing awareness about sustainability and environmental impacts, there is a trend towards using by-products like hominy feed in livestock diets. This reduces waste in the food production chain and supports sustainable agriculture.
Increased Demand for Non-GMO Products: As consumers become more health-conscious, there's a growing demand for non-GMO animal products. This may have an impact on the type of maize that is ground and, in turn, the size of the world market for hominy feed.
Technological Advancements in Feed Production: Innovations in processing, preservation, and feed formulation technologies can influence the efficiency of hominy feed production and its nutritional value.
Demand for Nutrient-rich Animal Feed: Livestock farmers are increasingly looking for feeds that can provide better nutrition to the animals, ensuring better growth rates and health. Hominy feed, known for its energy and fiber content, fits this demand.
Hominy Feed Market Report Coverage
Report Coverage
Details
Base Year:
2022
Market Size in 2023:
US$ 1.25 Bn
Historical Data for:
2018 to 2022
Forecast Period:
2023 - 2030
Forecast Period 2023 to 2030 CAGR:
6.9%
2030 Value Projection:
US$ 1.99 Bn
Geographies covered:
North America: U.S. and Canada
Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
Middle East & Africa: GCC Countries, Israel, South Africa, North Africa, and Central Africa and Rest of Middle East
Segments covered:
By Type of Hominy: White Hominy, Yellow Hominy
By Form: Whole Hominy, Crushed Hominy
By Application: Livestock Feed, Industrial Uses, Human Consumption
By Distribution Channel: Direct Sales, Indirect Sales
By Processing Method: Traditional, Modern/Industrial
By Price: Premium, Android Mid-range, Low-end
Companies covered:
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
Nutritional Variability: Because hominy feed is a byproduct, its nutritional profiles might vary depending on the kind and quality of maize utilized as well as the milling technique used. This variability can deter livestock producers who seek consistent feed quality.
Alternative Feed Sources: The availability of alternative feed ingredients, especially those with a more consistent nutritional profile or a cost advantage, can be a significant restraint for the global hominy feed market.
Limited Awareness: In certain regions or among specific farmer groups, there may be limited awareness about the benefits of hominy feed, leading to underutilization.
Storage and Shelf Life Issues: Hominy feed, due to its fat content from the germ, might be prone to rancidity if not stored appropriately, limiting its shelf life.
Global Hominy Feed Market Analyst Viewpoint
The global hominy feed market is expected to witness steady growth over the forecast period, driven by rising demand for animal feed worldwide. The poultry farming industry has particularly emerged as a major consumer of hominy feed due to its high nutritional content and cheaper price compared to other feed types. North America currently dominates the hominy feed market owing to well-established poultry production facilities and farming practices in countries like U.S. and Canada.
However, Asia Pacific is anticipated to witness the highest growth in hominy feed consumption, attributed to rising meat consumption and increasing expenditure on animal feed in the emerging economies of China and India. Hominy feed provides various nutritional benefits, such as energy, protein, fiber, and minerals, which aid healthy growth of livestock. Additionally, the low pricing of hominy compared to other feed ingredients will continue to augment its adoption among feed manufacturers.
Fluctuating prices of corn due to changing climate conditions and export barriers in a few hominy producing countries may act as a restraint. Also, increasing preference towards substitute feed sources high in protein content can negatively impact the market. However, ongoing Research and Development focusing on the nutritional enrichment of hominy through fortification is expected to boost demand from poultry farm owners.
Overall, increasing meat consumption worldwide, driven by rising disposable income and changing diet patterns, will remain a key growth driver.
Recent Developments
New product launches
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.
Organic Hominy Feed by Purina: This new product is an organic hominy feed that is made with non-GMO corn and soybeans. It is a good source of protein, fiber, and vitamins, and it is suitable for all types of livestock.
Hominy Feed Pellets by Diamond V: These new pellets are made with hominy and other ingredients that are specifically designed for poultry. They are easy to digest, and they provide a balanced diet that supports bird health and performance.
Acquisition and partnerships
In 2021, Archer Daniels Midland (ADM) acquired Grain Processing Corporation (GPC) for US$8.81 billion. This acquisition gave ADM a major foothold in the global hominy feed market, as GPC was one of the leading producers of hominy feed in the U.S.
In 2022, Cargill acquired Purina Animal Nutrition for US$4.4 billion. This acquisition gave Cargill a major presence in the animal feed market, including hominy feed.
In 2023, Land O'Lakes acquired Diamond V Mills for an undisclosed amount. This acquisition gave Land O'Lakes a major presence in the feed additive market, which includes hominy feed additives.
Figure 2. Global Hominy Feed Market Share (%), by Application, 2023
Definition: Hominy feed is a byproduct of the corn milling process used in the production of maize products like cornmeal. It is a mixture of corn bran, corn germ, and part of the starchy endosperm. In the market, hominy feed is primarily utilized as an animal feed due to its nutritional content.
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About Author
Sakshi Suryawanshi is a Research Consultant with 6 years of extensive experience in market research and consulting. She is proficient in market estimation, competitive analysis, and patent analysis. Sakshi excels in identifying market trends and evaluating competitive landscapes to provide actionable insights that drive strategic decision-making. Her expertise helps businesses navigate complex market dynamics and achieve their objectives effectively.
The global Hominy Feed Market size was valued at USD 1.25 billion in 2023 and is expected to reach USD 1.99 billion in 2030.
There are some factor which hamper the market like Limited awareness about its benefits, competition from alternative animal feeds, fluctuations in corn prices, regulatory restrictions and limited production and processing capacities.
Rising demand for cost-effective animal feed, nutritional benefits of hominy for livestock, growing awareness of sustainable feed sources and expansion of the livestock sector are the factor which drive the market growth.
The major component of hominy feed is the livestock feed.
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
North America, particularly the U.S., was a significant player in the production and consumption of hominy feed due to its extensive corn milling industry. However, for the most current rankings, it's essential to consult the latest market research specific to the global hominy feed market.
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