South Korea Distiller's Dried Grains with Solubles (DDGS) Feed Market was valued at USD 0.3 Billion in 2022 and is projected to reach USD 0.5 Billion by 2030, growing at a CAGR of 7.2% from 2024 to 2030.
The South Korean feed industry has increasingly turned to Distiller's Dried Grains with Solubles (DDGS) as a cost-effective and nutritious component in animal feed formulations. This shift is driven by DDGS's high protein content and favorable pricing compared to traditional feed ingredients like soybean meal and corn gluten feed. As a result, a significant majority of Korean feed millers have incorporated DDGS into their rations.
In recent years, South Korea's imports of DDGS have seen substantial growth. For instance, imports rose from 656,307 metric tons in the 2014/15 marketing year to 894,982 metric tons in 2015/16. The United States has been the dominant supplier, consistently holding a market share of 89% or higher since 2008/09. This strong trade relationship underscores the reliability and quality of U.S. DDGS in meeting South Korea's feed industry demands.
The inclusion rate of DDGS in animal feed has also experienced an upward trend. It increased from 3.4% in 2014/15 to 4% in 2015/16, with expectations for continued growth due to its economic advantages. The U.S. Grains Council's Seoul office set a target of achieving a 7.5% inclusion rate and 1.5 million metric tons of imports per annum by 2025. This ambitious goal reflects the confidence in DDGS's role in enhancing feed formulations.
Educational initiatives have played a crucial role in promoting DDGS usage. The U.S. Grains Council has organized seminars and consultations to inform feed formulators and nutritionists about the benefits of DDGS. These efforts have addressed previous misconceptions and highlighted the co-product's nutritional and economic value, leading to broader acceptance within the industry.
Despite challenges such as fluctuating prices and supply chain disruptions, the South Korean feed industry has demonstrated resilience by adapting its feed formulations accordingly. The commitment to incorporating DDGS aligns with the industry's objectives of optimizing feed quality and cost-efficiency. As the market continues to evolve, DDGS is poised to remain a key component in South Korea's animal feed sector, contributing to the production of high-quality meat products.
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By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the South Korea Distiller's Dried Grains with Solubles (DDGS) Feed Market
Corn-based DDGS
Wheat-based DDGS
Barley-based DDGS
Sorghum-based DDGS
Protein-rich DDGS
Energy-rich DDGS
Fiber-rich DDGS
Fat-rich DDGS
Poultry Feed
Swine Feed
Cattle Feed
Aquaculture Feed
Pelleted DDGS
Powdered DDGS
Liquid DDGS
Whole grain DDGS
Agricultural Feed
Pet Food
Biofuel Production
Organic Farming
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
For More Information or Query, Visit @ South Korea Distiller's Dried Grains with Solubles (DDGS) Feed Market Research Analysis
1. Introduction of the South Korea Distiller's Dried Grains with Solubles (DDGS) Feed Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. South Korea Distiller's Dried Grains with Solubles (DDGS) Feed Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. South Korea Distiller's Dried Grains with Solubles (DDGS) Feed Market, By Type
6. South Korea Distiller's Dried Grains with Solubles (DDGS) Feed Market, By Application
7. South Korea Distiller's Dried Grains with Solubles (DDGS) Feed Market, By Geography
Asia-Pacific
China
Japan
Korea
India
Australia
Indonesia
Thailand
Philippines
Malaysia and Vietnam
8. South Korea Distiller's Dried Grains with Solubles (DDGS) Feed Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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