Overview:
The global market for distiller’s dried grains with solubles is getting amply backed by the animal feed industry. The rising demand for better nutrients in the latter is expected to provide substantial traction to the global market. Market Research Future (MRFR), while conducting surveys on the market, realized the importance of several factors like the increasing demand for products with nutritional value, a surge in intake in the human food industry to provide better nutritional support, and others as major traction-inducers.
But the COVID-19 attack has triggered certain downfalls, which can impact the market substantially.
Segmentation:
The global DDGS Market has been segmented by MRFR experts into source, application, and forms. MRFR’s analysis reveals several aspects of the market and it would help in devising better strategies.
By source, the DDGS Market include bio-fuel plants, brewers, and others. The bio-fuel plants segment holds the maximum market share as it is the primary source for ethanol production.
By application, the DDGS Market can be segmented into the food and beverage industry, animal feed, and others. The animal feed industry has the maximum market share and it is getting traction as low-cost animal feed, which is rich in nutrients.
By form, the global study of the DDGS Market contains segments like pellets, powder, others. The pellet has the largest market share as it can be easily manufactured for the cattle industry.
Regional Analysis:
North America has the lead and it will retain its dominance during the forecast period. This is getting spurred by the huge animal feed industry and the contributions made by the US and Canada, who are also great consumers of the product.
Competitive Landscape:
Globus Spirits Ltd.(India), CropEnergies (Germany), Archer Daniels Midland (U.S.), Nugen Feeds Foods (India), J. D. HEISKELL HOLDINGS, LLC (U.S.), CHS Inc. (U.S.), Kent Feeds (U.S.), and others are playing important roles in taking the global Dried Distillers Grains Market by Application ahead. These companies are relying on some tested strategic moves involving mergers, substantial investment for the research and development sector, tie-ups, innovations, acquisition, and others. Innovative moves regarding launching and branding are also going to impact the market. MRFR listed the recent moves to understand how the global market is expected to benefit from various trends and what patterns these companies would set for the coming years.
Industry News:
In May 2020, the USDA released its Grain Crushings and Co-Products Production report, which showed a steady decline in the production of a number of products. The numbers are showing that the fall is mostly due to the onslaught of the COVID-19. In April, the distiller's dried grains with solubles production was 1.66 million tons, which saw a plummet from its previous recordings of production volume of 1.81 million tons in February and 1.87 tons in March 2019.
In the US, in April 2020, the import of distiller’s dried grains with solubles from China took a bad hit and it saw a dip by 98%. In March, the intake was 3,637 mt, which cam down 84mt in April. The import value witnessed a dip by 90% to $63,210, compared to the statistics of April 2019's $662,794. This is due to the changes in various regulations due to the COVID-19 attack.
NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.
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