The wet corn milling industry in the US is forecasted to experience a gradual decline in gross output from $8.94 billion in 2024 to $8.34 billion in 2028. This trend suggests a shrinking market, with a consistent year-on-year decrease averaging approximately -1.7%. The compound annual growth rate (CAGR) over the five-year period indicates a moderate decline. In 2023, the industry's gross output stood at approximately $9.1 billion, marking the peak before the anticipated downturn.
Future trends to watch for include:
- Potential impacts of regulatory changes affecting ethanol production.
- Shifts in consumer preferences towards non-corn-based products.
- Technological advancements in corn processing efficiency.
