Market Size of Maize Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 143.62 Billion |
| Market Size (2029) | USD 166.57 Billion |
| CAGR (2024 - 2029) | 3.01 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
Major Players*Disclaimer: Major Players sorted in no particular order |
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Maize Market Analysis
The Maize Market size is estimated at USD 143.62 billion in 2024, and is expected to reach USD 166.57 billion by 2029, growing at a CAGR of 3.01% during the forecast period (2024-2029).
- Maize is a cereal grain, also known as corn, that is rich in antioxidants like phenols and phytosterols. It is one of the leaders in terms of the production of cereal crops. Most of the maize produced in the world is used for feed and other purposes; only a small amount is used by people for consumption. It can be consumed only after processing into different food items such as popcorn, flour, tortillas, cornflakes, corn germ oil, etc. Maize products are also used in supplementary nutritional programs to feed malnourished children and improve their health.
- The growing meat industry is creating demand for more cereals, especially maize and soybean, as both are highly nutritious in terms of protein used for feeding livestock. It is very importantly used in the production of ethanol. The gaining importance of biofuel usage is encouraging the growth of the maize market.
- Corn is the primary US feed grain, accounting for more than 95% of the total feed grain production and use. It is cultivated on nearly 190 million hectares in about 165 countries with wide diversity and management practices. It accounts for 39% of global grain production, primarily used for livestock and feed purposes. It is also widely used for industrial purposes, including ethanol production. While the number of field farms for corn has declined in recent years, the acreage per corn farm has increased.
Maize Industry Segmentation
Maize is a cereal crop that is cultivated for feed and consumption purposes. It is known as the queen of cereals. The market studied for this report includes maize traded both domestically and internationally. It does not include processed products manufactured using maize. The maize market is segmented by geography (North America, South America, Europe, Asia-Pacific, and Africa). The report analyzes production (volume), consumption (value and volume), import (value and volume) and export (value and volume), and price trend analysis of maize across the globe. The report offers market size and forecast in terms of value (in USD) and volume (in metric ton) for the above-mentioned segments.
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Maize Market Size Summary
The maize market is poised for steady growth over the forecast period, driven by its pivotal role in global agriculture and industry. As a leading cereal crop, maize, also known as corn, is extensively utilized for animal feed, particularly in the livestock sector, which is experiencing increased demand due to rising global meat consumption. This demand is further fueled by population growth, urbanization, and rising incomes in developing regions, which have led to a shift towards higher consumption of animal-based proteins. Maize's versatility extends to its use in biofuel production, particularly ethanol, aligning with the growing emphasis on renewable energy sources. The crop's significant contribution to the feed industry, coupled with its industrial applications, underscores its importance in the global market landscape.
North America, with the United States at the forefront, is expected to maintain its position as the largest maize market, supported by high production levels and substantial exports. The U.S. remains a key player in the global maize trade, with a significant portion of its production dedicated to livestock feed and industrial products. Meanwhile, Asia-Pacific is also emerging as a significant market due to increasing consumption patterns and dietary shifts. The global trade of maize is bolstered by its widespread use in various applications, from animal feed to food and industrial products, ensuring a robust market presence. Initiatives in countries like India and Ghana to enhance maize production and processing capabilities further highlight the crop's growing significance in the global agricultural economy.
Maize Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.3 Market Restraints
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1.4 Value Chain Analysis
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2. MARKET SEGMENTATION
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2.1 Geography (Production Analysis by Volume, Consumption Analysis by Volume and Value, Import Analysis by Volume and Value, Export Analysis by Volume and Value, and Price Trend Analysis)
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2.1.1 North America
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2.1.1.1 United States
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2.1.1.2 Canada
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2.1.1.3 Mexico
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2.1.2 Europe
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2.1.2.1 Spain
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2.1.2.2 Italy
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2.1.2.3 France
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2.1.2.4 Germany
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2.1.2.5 Russia
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2.1.3 Asia-Pacific
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2.1.3.1 India
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2.1.3.2 China
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2.1.3.3 Vietnam
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2.1.4 South America
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2.1.4.1 Brazil
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2.1.4.2 Argentina
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2.1.5 Africa
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2.1.5.1 South Africa
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2.1.5.2 Nigeria
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Maize Market Size FAQs
How big is the Maize Market?
The Maize Market size is expected to reach USD 143.62 billion in 2024 and grow at a CAGR of 3.01% to reach USD 166.57 billion by 2029.
What is the current Maize Market size?
In 2024, the Maize Market size is expected to reach USD 143.62 billion.
