NAICS 311221 - Wet Corn Milling
This U.S. industry comprises establishments primarily engaged in wet milling corn and other vegetables (except to make ethyl alcohol). Examples of products made in these establishments are corn sweeteners, such as glucose, dextrose, and fructose; corn oil; and starches (except laundry).
Industry trends:
NAICS 311221, which encompasses the Wet Corn Milling industry, has been experiencing significant qualitative trends driven by technological advancements, sustainability initiatives, and shifts in consumer preferences. One prominent trend is the increasing investment in bioprocessing and bioengineering technologies. These advancements are aimed at enhancing production efficiency, reducing waste, and developing high-value bioproducts such as biofuels and bioplastics. As a result, wet corn milling companies are not only diversifying their product portfolios but also tapping into new markets.
Sustainability is another key trend reshaping the industry. Consumers and regulatory bodies are increasingly demanding eco-friendly practices. Consequently, companies are investing in greener technologies and methods, including water recycling systems and the reduction of greenhouse gas emissions. Moreover, the shift towards non-GMO ingredients and organic products is gaining momentum as health-conscious consumers seek cleaner labels and transparency regarding sourcing and production practices.
Looking ahead, the forecast for the near future suggests continued growth driven by these technological and sustainable practices. The emphasis on renewable energy sources, such as ethanol from corn, is anticipated to rise amidst global energy transformation strategies. Additionally, market awareness and consumer demand for plant-based food products are expected to bolster the industry's growth. Companies that effectively adapt to these trends and innovate within their production processes stand to gain significant competitive advantages.
This industry is comprised of:
This report includes the ability to segment your Industry by:
- Region
- Employees
- Net Sales
- Company Age
- Total Assets
- Ownership Type
With iCFO You Get
What Is iCFO?
A review and comparison of financial performance of privately-help companies in specified SIC/NAICS industry segment, using industry standard benchmarks.
Sound Business Analysis
Answers come easily with iCFO. Review ROI, sales per employee, profit margins of the top 10%, top 25% and more, to identify areas of concern and opportunity. Examine what if scenarios and P&L impact of reducing costs or adding revenue.
Your Business’ Health In Minutes
It takes only five minutes to enter your data and produce a concise profile of your company’s fiscal state, including critical business ratios focusing on liquidity, profitability, asset efficiency, and growth.