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The maize market size is estimated to grow by USD 34.7 billion at a CAGR of 2.21% between 2023 and 2028. The market is experiencing significant growth, driven primarily by the increasing demand for maize as animal feed, particularly in the poultry and livestock industries. Additionally, there is a growing trend towards organically cultivated maize, as consumers become more conscious of the environmental and health implications of their food choices. However, the market faces several challenges, including logistics and distribution issues. Maize is a bulky and perishable crop, making efficient storage and warehouse management essential to maintain its quality and prevent losses. The complex supply chain, from farmers to consumers, requires effective coordination and management to ensure a steady flow of maize to meet the increasing demand. Overall, the market is expected to continue its growth trajectory, driven by the demand for animal feed and the trend towards organic farming, while addressing the challenges of logistics, storage, and distribution to ensure a sustainable and efficient supply chain.
Maize, also known as corn, is a major cereal crop grown for various purposes including human consumption and animal feed. The market includes different types such as field corn, sweet corn, popcorn, baby corn, and others. Maize is a staple food in many parts of the world, and it is used to produce cornmeal, tortillas, and other food products. The agriculture industry also uses maize as feed grain for livestock production and for industrial purposes such as producing biofuels, sweeteners, and industrial alcohol. Maize is rich in Antioxidants, Phenols, and Phytosterols, making it a healthy food source. The Green Revolution and biotechnological development have led to the production of high-yielding varieties of maize, including Urea cultivation. Maize is often grown alongside other crops like Soybean, Rice, and Wheat. The market is influenced by factors such as energy and oil content, milk production, protein content, and feed grain prices. The market for maize is expected to grow due to increasing demand for corn-based biofuels and the rising population leading to an increase in demand for staple foods.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion " for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
The Industrial segment is estimated to witness significant growth during the forecast period. Maize, often referred to as the "Queen of Cereals," is a significant crop grown on arable land across the United States, particularly in Iowa and Illinois. This versatile crop serves various purposes, including Food and Beverages, Biofuel, and Animal Feed. For Biofuel production, maize is used to produce bioethanol, a renewable fuel source.
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The Industrial segment accounted for USD 137 billion in 2018. In the Food and Beverages industry, maize is used to make various products, including sweeteners, alcohol, and by-product feed. Maize is rich in Antioxidants, Phenols, and Phytosterols, making it an essential component in the Livestock industry as Compound Feed for Ruminants, Poultry, Swine, and Aquaculture. Soybean, another essential feed grain, is often paired with maize to provide Protein and other essential nutrients. Cereal crops, including maize, rice, and wheat, are vital sources of energy and oil content for both Human Consumption and Industrial purposes. The Green Revolution led to an increase in maize production, making it a staple crop in many parts of the world. Maize is also used to produce Bioethanol and other industrial products, such as Alcohol and Sorghum syrup. Additionally, maize by-products are used as feed for Livestock, including Milk, Meat, Eggs, and Poultry meat, and as Dairy farmers' Fertilizers, such as Urea cultivation. Overall, maize is a crucial crop with numerous applications, from Food and Beverages to Biofuel and Animal Feed.
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North America is estimated to contribute 47% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Maize, also known as corn, is a significant agricultural commodity with various applications in food processing, livestock feed, biofuel production, and renewable energy sources. The crop is grown in vast fields as both field corn for industrial uses and sweet corn for human consumption. Sweet corn is further categorized into forms like popcorn, baby corn, and various other varieties. Cornmeal, cornflakes, tortillas, thickening agents, cornstarch, corn oil, and cooking are essential food applications of corn. In the livestock industry, corn serves as a primary feedstock, contributing to the growth of livestock populations. Corn syrup, corn flour, maize oil and cornstarch are widely used as raw materials and feedstock in the production of various industrial products, including alcohol, such as whiskey and vodka, pharmaceuticals, medication tablets, and biofuels like ethanol and gasoline. Corn ingredients are integral components of numerous convenience foods, snacks, cereals, and other corn-based products. The environmental sustainability of corn agriculture is crucial, as it is a renewable energy source and can influence meat consumption patterns.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Increasing demand for maize as animal feeds is notably driving market growth. Maize, often referred to as the "queen of cereals," is a significant crop used for various purposes, including Food and Beverages, Animal Feed, and Biofuel production. In the agricultural sector of the United States, particularly in Iowa and Illinois, a substantial portion of arable land is dedicated to maize cultivation. For animal agriculture, maize serves as a primary feed source for livestock such as ruminants (cattle, sheep, and goats) and monogastrics (pigs, poultry, and aquaculture species). Maize's nutritional value extends beyond its use as animal feed. It is rich in antioxidants, phenols, and phytosterols, making it an essential ingredient in human food. In the food industry, maize is used to produce various products, including sweeteners, alcohol, and by-product feed.
Furthermore, the oil content in maize is also utilized in the production of bioethanol, a popular biofuel. In developing countries like India, the increasing consumption of meat, milk, eggs, and poultry meat has led to a higher demand for feed grains, including maize. This demand is driven by population growth and rising incomes, putting pressure on farmers and governments to meet the growing demand for high-value animal protein. Sorghum and wheat are alternative crops used for animal feed, but maize is preferred due to its high digestibility and energy content. Maize's versatility extends to industrial purposes, where it is used as a raw material in the production of various chemicals, plastics, textile, and adhesives. The green revolution in agriculture, which began in the mid-20th century, led to an increase in maize production through the use of high-yielding varieties and improved farming practices. Urea cultivation is also used in maize farming to enhance crop growth and productivity. In summary, maize is a versatile crop with numerous applications in food, animal feed, biofuel, and industrial sectors. Its cultivation on arable land in regions like Iowa and Illinois, as well as in developing countries like India, plays a crucial role in meeting the growing demand for animal protein and other maize-derived products. Thus, such factors are driving the growth of the market during the forecast period.
Growing demand for organically cultivated maize is the key trend in the market. Maize, often referred to as the "queen of cereals," is a significant crop grown on arable land across various regions, including Iowa and Illinois. This versatile crop serves multiple purposes, such as Food and Beverages, Biofuel, and Animal Feed. For instance, maize is used in the production of bioethanol, a renewable source of energy, and sweeteners. In the food industry, maize is rich in antioxidants, phenols, and phytosterols, making it an essential ingredient in various food products. In the livestock sector, maize serves as a primary feed grain for ruminants, poultry, swine, and aquaculture. Soybean, another essential feed crop, is often paired with maize to create compound feed. The protein-rich nature of these crops caters to the nutritional requirements of milk, meat, eggs, and poultry meat production. The global trend of consuming non-genetically modified (non-GMO) and organically cultivated crops, including maize, has gained significant momentum.
Furthermore, this shift is driven by consumer concerns regarding the potential side effects of genetically modified organisms (GMOs) on human health and the environment. As a result, farmers and commodity traders specializing in non-GMO maize production have become crucial partners for leading companies in the foodservice industry. Moreover, maize is also used for industrial purposes, such as the production of alcohol and biofuel, as well as in the creation of by-product feed for various industries. With an oil content of approximately 40%, maize is an essential component of the green revolution, contributing to the growth of urea cultivation and corn-based biofuels. Overall, maize plays a pivotal role in the global agricultural landscape, providing essential resources for food, fuel, and feed industries. Thus, such trends will shape the growth of the market during the forecast period.
Logistics and distribution challenges of maize is the major challenge that affects the growth of the market. Maize, often referred to as the "queen of cereals," is a versatile crop with various applications in Food and Beverages, Biofuel, Animal Feed, and Industrial purposes. Iowa and Illinois are major contributors to the US maize production, supplying arable land for cultivating this important crop. Maize byproducts, such as oil, starch, syrup, sweeteners, and alcohol, are in high demand. However, maize producers face challenges in securing appropriate prices for their crops due to the competitive market and the low profit margins of retail stores, including supermarkets and large discount or convenience chains. Logistical and distribution challenges are prevalent in the market. These issues can arise from a lack of storage facilities, transportation problems, a long chain of middlemen, and potential malpractices. Maize producers must navigate these challenges to ensure timely and efficient delivery of their crops to manufacturers and retailers. Bioethanol production from maize is a significant application, with phenols, antioxidants, and phytosterols as valuable by-products. These components are essential in various industries, including animal feed for ruminants, poultry, swine, and aquaculture, as well as in the production of compound feed.
Additionally, maize is used as a feed grain for livestock, contributing to the production of milk, meat, eggs, and poultry meat. Cereal crops, such as maize, soybean, rice, and wheat, are essential for food security and energy production. The Green Revolution and the subsequent advancements in agricultural technology have led to increased maize production, making it a vital source of energy and protein. Urea cultivation and corn-based biofuels further expand maize's applications. Maize's high oil content makes it an essential ingredient in various industries, including alcohol production and the manufacturing of sweeteners. The versatility of maize is evident in its applications as a feedstock for bioethanol production, a source of sweeteners, and a vital component in the production of compound feed for livestock. In conclusion, maize is a crucial crop with various applications in Food and Beverages, Biofuel, Animal Feed, and Industrial purposes. Maize producers face challenges in navigating the competitive market and logistical and distribution issues. However, the versatility and demand for maize and its byproducts ensure its continued importance in various industries. Hence, the above factors will impede the growth of the market during the forecast period
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Archer Daniels Midland Co. - The company is involved in offering maize, which is ideally used for a variety of bakery, baking mixes, and foodservice applications ranging from hot cereals to milk replacement formulas and specialty bread.
The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
Maize, also known as corn, is a major agricultural product with various applications in food, livestock feed, biofuel production, and industrial uses. The market encompasses field corn, sweet corn, popcorn, baby corn, and more. Corn is a staple food in many cultures and baking with cornmeal, cornflakes, tortillas, and thickening agents like cornstarch and cornflour being common uses. In food processing, corn is used for making corn syrup, corn flour, and other corn ingredients. For livestock feed, maize is a crucial raw material and feedstock and for making bread. In the biofuel industry, corn is used for ethanol production, a renewable energy source. Corn syrup and corn oil are used in cooking and food processing, while alcohol production, such as whiskey and vodka, also utilizes corn.
Furthermore, corn is used as a raw material in pharmaceuticals and medication tablets. The market is influenced by factors such as meat consumption patterns and livestock populations. Corn is a key ingredient in many convenience foods and snacks, making it a significant player in the global food industry. Environmental sustainability is becoming increasingly important, and the use of maize as a renewable energy source, such as gasoline and other renewable energy sources, is a growing trend. Overall, the market is diverse and dynamic, with various applications and uses that continue to evolve.
Market Scope |
|
Report Coverage |
Details |
Page number |
142 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 2.21% |
Market growth 2024-2028 |
USD 34.7 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
2.1 |
Regional analysis |
North America, APAC, South America, Europe, and Middle East and Africa |
Performing market contribution |
North America at 47% |
Key countries |
US, China, Brazil, Argentina, and Ukraine |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Alianz Global Groups Pty Ltd., Archer Daniels Midland Co., Associated British Foods Plc, Balaji Exim, Bayer AG, Bunge Ltd., Cargill Inc., CGB Enterprises Inc., COFCO Corp., Exotic Exim, Fazaz Global Concepts LLC, Gombella Integrated Services Ltd., Greenfield Global Inc., Groupe Limagrain, Ingredion Inc., Ista International General Trading LLC, Louis Dreyfus Holding BV, Maeddy Impex Pvt. Ltd., Roquette Freres SA, Tate and Lyle PLC, and Tereos Participations |
Market dynamics |
Parent market analysis, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for Market forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
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