Corn Procurement Intelligence expected to grow at a 3.1% CAGR from 2023 to 2030
Corn Procurement Intelligence The corn category is expected to grow at a 3.1% CAGR from 2023 to 2030. The key factors driving corn demand are the rising demand for processed meals, biofuels, and animal feed. The demand for corn as a key component of animal feed is expected to expand in the coming years as global meat consumption is expected to increase. Almost all types of compound feed for animals, including ruminants, poultry, swine, and aquaculture, have corn as one of their main constituents. So, corn is frequently used to meet the rising demand for feed rations. Production has increased as a result globally. In addition, it is used in the production of ethanol, a biofuel that can replace petrol. It is anticipated that concerns about pollution and climate change will increase demand for biofuels. Corn is a key ingredient in many processed foods, including cornflakes, corn chips, and tortillas. Because of the convenience and affordable cost associ...