Market Overview:
Sorghum by-products are extracted from the processing of sorghum in various industries. It is rich in protein, carbohydrates, fibers, and other nutrients, which makes it useful in animal feed production industry. It is largely used in animal feed to increase the protein content in the animal feed. Moreover, it contributes to the waste reduction from industries. The most common types of sorghum by-products include sorghum bran, sorghum brewer's grains, sorghum DDGS, sorghum wine residue, sorghum gluten feed, sorghum germ feed and others.
Market Forecast:
The growth of sorghum by-products market is mostly triggered by the growing demand for animal protein. High nutritive content and an alternative for conventional animal feed has raised the demand for sorghum by-products in the market.
A wide expansion of ethanol production industry in regions like North America is boosting the growth of sorghum by-products market. Moreover, rising awareness of animal nutrition and healthy feed is boosting the growth of the market. Additionally, increasing demand for livestock based food consumption is adding fuel to the growth of sorghum by-products. However, availability of cheap substitutes may hamper the growth of the market. Nevertheless, all these factors are projected to contribute to the estimated CAGR of 5% of sorghum by-products market during the forecast period 2017-2023.
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Downstream Analysis:
Based on the type, sorghum by-products market is segmented into sorghum bran, sorghum brewer's grains, sorghum DDGS, sorghum wine residue, sorghum gluten feed, sorghum germ meal and others. Among all, sorghum distillers dried grains and soluble (DDGS) is projected to grow at the fastest rate over the forecasted period.
On the basis of source, sorghum by-products market is segmented into dry milling and wet milling. Among all, wet milling is expected to hold a major share in the sorghum by-products market.
Based on the application, sorghum by-products market is segmented into animal feed and others in which animal feed is further sub segmented into ruminants, cattle industry, poultry industry, aqua-culture industry, and others. Poultry industry is projected to have a substantial growth over the estimated period followed by aqua-culture industry.
Competitive Analysis:
The major players in the Sorghum By-Products Market,
- Cargill Inc. (U.S.)
- Chromatin (U.S.)
- General Mills (U.S.)
- Associated British Foods (U.K)
- Bunge (U.S.)
- Archer Daniels Midland (U.S.)
- United National Breweries (South Africa)
Regional Analysis:
The global Sorghum By-products market is segmented into North America, Europe, Asia Pacific and rest of the world (RoW). North America is anticipated to dominate the market followed by Europe. High demand for low cost nutritive diet for animals and industrial waste reduction in Europe is growing the market for sorghum by-products. In North America, the U.S. and Canada are the major contributors.
Asia Pacific is projected to be the fastest growing region for sorghum by-products. China, India and Australia are the major contributors to the sorghum by-products market. In rest of the world, South Africa accounts for the largest share in sorghum by-products market.
Market Segmentation:
Sorghum By-products market is segmented on the basis of Type, Source, Application and Region.
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