Hominy Feed Global Market Report 2024

The hominy feed market size has grown strongly in recent years. It will grow from $4.18 billion in 2023 to $4.49 billion in 2024 at a compound annual growth rate (CAGR) of 7.5%. The expansion observed in the historical period can be credited to advancements in milling technology, increases in agricultural productivity, the expansion of livestock farming, a surge in demand for animal protein, and the progress in animal nutrition science.

The hominy feed market size is expected to see strong growth in the next few years. It will grow to $6.06 billion in 2028 at a compound annual growth rate (CAGR) of 7.8%. Factors contributing to this growth in the forecast period include corn prices, demand for livestock feed, weather conditions, levels of ethanol production, and transportation costs. Notable trends expected during this period encompass the rise in livestock populations, heightened awareness regarding its nutritional advantages, the expansion of the biofuel industry, advancements in feed processing technologies, increased emphasis on sustainable and organic farming methods, and greater adoption in emerging economies.

The anticipated increase in corn production is poised to drive the growth of the hominy feed market in the future. Various factors contribute to the rise in corn production, including advancements in seed technology, favorable weather conditions, increased usage of fertilizers and pesticides, agricultural machinery improvements, and expanded acreage. Hominy feed plays a significant role in boosting corn production by providing a valuable feed option for livestock, consequently stimulating demand for corn, which in turn leads to expanded cultivation and higher yields. For instance, Corteva Inc., a US-based agriculture company, projects that the national maize crop in 2023 will cover approximately 250,000 hectares, marking a 20,000-hectare increase compared to the previous year. This highlights how the increasing corn production is fostering growth in the hominy feed market.

Key players in the hominy feed market are adopting strategic partnerships to capitalize on synergies, broaden their market reach, and enhance their product offerings. Strategic partnerships involve leveraging the strengths and resources of partnering companies to achieve mutual benefits and drive success. For example, in September 2022, CovationBio and Primient Covation LLC, both US-based biotechnology companies, partnered with Truterra LLC, a US-based firm specializing in sustainable agriculture solutions. This collaboration ensures that the corn utilized in CovationBio's and Primient Covation's products adheres to the highest standards of sustainable practices. Through participation in Truterra, these companies support US Midwestern corn growers in implementing sustainable and regenerative agriculture practices, covering an area equivalent to 100% of the agricultural footprint of the corn used in their products. These products, such as Susterra PDO, Zemea PDO, and Sorona polymer, find applications in fabrics, personal care items, food flavors, outdoor apparel, and more.

In August 2021, Gold Star Feed & Grain, a US-based dairy product manufacturing company, acquired Gramco Inc. to bolster its production of farm animal feed utilizing locally sourced corn, soy, wheat, and beans from Western New York and Southern Ontario. Gramco Inc., also based in the US, specializes in producing animal feed from locally sourced agricultural ingredients.

Major companies operating in the hominy feed market are Cargill Incorporated, Archer-Daniels-Midland, Bunge Limited, The Scoular Company, Ingredion Incorporated, Land O'Lakes Inc, Tate & Lyle LLC, Alltech Inc, Purina Animal Nutrition LLC, Didion Inc., Semo Milling LLC, LaBuddhe Group Inc., Jyoti Cornex Industries, Godawari Agro Industries, Graham Feed Company, Gramco Inc, Dexterous Private Limited, PV Sons Corn Milling Co. Pvt. Ltd., Trishla Industries, Shreeji Ingredients.

North America was the largest region in the hominy feed market in 2023. The regions covered in the hominy feed market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the hominy feed market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Hominy feed, a byproduct of the corn milling process, is comprised of corn bran, germ, and starchy components. It boasts a high fiber content along with moderate levels of protein and fat, rendering it a nutritious option for livestock. Its primary application lies in animal feed, furnishing a blend of carbohydrates, protein, and fiber to support the dietary needs and healthy development of livestock.

The primary varieties of hominy feed are white hominy and yellow hominy. White hominy denotes dried maize kernels that have undergone treatment with an alkali solution, eliminating the hull and germ and imparting a distinctive texture and flavor. Available in both whole and crushed forms, white hominy is processed using both traditional and modern industrial techniques. End users encompass livestock or animal feed producers, pet food manufacturers, ethanol production, and various other sectors.

The hominy feed research report is one of a series of new reports that provides hominy feed market statistics, including the hominy feed industry's global market size, regional shares, competitors with a hominy feed market share, detailed hominy feed market segments, market trends and opportunities, and any further data you may need to thrive in the hominy feed industry. This hominy feed market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The hominy feed market consists of sales of hominy chops, hominy grits, hominy flakes, hominy pellets, and hominy feed blend. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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