World News: 14:30 GMT Friday 12th July 2019. [Technavio Research via Businesswire via SPi World News]
The global corn steep liquor (CSL) market is expected to post a CAGR of over 4% during the period 2019-2023, according to the latest market research report by Technavio.
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Technavio has released a new market research report on the global corn steep liquor (CSL) market from 2019-2023. (Graphic: Business Wire)
A key factor driving the growth of the market is the immense benefits of using corn steep liquor. Corn steep liquor is used as a nutrition medium for the growth of microorganisms in the production of antibiotics, enzymes, and other fermented products. Moreover, it is also used in combination with other ingredients to manufacture corn gluten feed for dairy and beef cattle, swine, poultry, and in pet foods. The immense benefits of corn steep liquor make it suitable in various other industrial applications, such as the biodegradation of crude oil, microbial-induced carbonate precipitation for the treatment of cracks in concrete, and the conversion of municipal waste compost for use in organic farming. These applications are expected to drive the adoption of corn steep liquor among the various end-users, thereby driving the growth of the market during the forecast period.
As per Technavio, the technological advances in the production of corn steep liquor will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global corn steep liquor (CSL) market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Corn Steep Liquor (CSL) Market: Technological Advances in the Production of Corn Steep Liquor
The rising demand for corn steep liquor worldwide has encouraged major players to incorporate innovative and technologically advanced methods with the aim of producing high-quality corn steep liquor. The technological advances incorporated in the production of corn steep liquor, include the process of ultrafiltration, which is aimed at removing the suspended solids and high molecular weight compounds. Thus, the product obtained is a modified corn steep liquor, which contains comparatively greater amounts of amino acids, vitamins, and minerals. Among other technological innovations, a plate or tubular falling-film evaporator is used for evaporating the lower concentration stages of corn steep liquor, while a forced-circulation arrangement is used to obtain the final product. Therefore, technological advances in the global corn steep liquor market is an emerging trend, which will have a positive impact on the growth of the global corn steep liquor market during the forecast period.
“Apart from the technological advances in the production of corn steep liquor, the growing animal feed industry, and the emergence of new corn wet milling facilities and growing investments are some other major aspects that are expected to boost market growth during the forecast period,” says a senior analyst at Technavio.
Global corn steep liquor market: Segmentation analysis
This market research report segments the global corn steep liquor market by product (liquefied corn steep liquor and powdered corn steep liquor) and geographical regions (North America, APAC, Europe, South America, and MEA).
The North American region led the market in 2018, followed by APAC, Europe, South America, and MEA respectively. However, during the forecast period, the European region is expected to register the highest incremental growth due to the growth in the production of animal feed in Europe.
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Business Wire: 14:30 GMT Friday 12th July 2019
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