Maize or corn is the third largest cultivated crop after wheat and rice. The global production of maize reached 1.06 billion metric ton in 2016, with a total harvested area of around 188 million hectare. The crop is mostly traded as a feed commodity but is also an important food crop.
Increasing International Trade
The US is the largest producer of maize, accounting for 36.3% of the total global production. Some other significant producers of maize include China, Brazil, Argentina, and India. Argentina is the largest exporter of maize, exporting a volume of 25.4 million metric ton of maize worth USD 4.2 million in the year 2016. Argentina exports maize mainly to Vietnam, Algeria, Egypt, and Malaysia. The global maize importing countries include Japan, Mexico, and Egypt.
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Genetically Modified (GM) Seeds
Genetically modified seeds in maize have helped improve the yield and productivity to a great extent, benefiting many countries by meeting their food security issues. These genetically customized and technologically developed crops across the globe have improved the seed market growth. However, the rising concerns of consumers toward genetically modified maize have resulted in the demand for non-GM crop.
North America to Dominate the Global Maize Market
Globally, among all regions, North America is expected to be the largest market for maize, followed by Asia-Pacific, over the forecast period owing to the high production of maize crop and its consumption as animal feed. Globally, the US is the largest producer of maize, followed by China, and it is expected to contribute the maximum revenue in the near future. However, Asia-Pacific is anticipated to witness a rapid growth over the forecast period owing to the increasing demand for maize as animal feed in the region.
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- Identify the dominating and the fastest growing regions in the global maize market and their growth trends during the forecast period
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Table of Content
- Introduction
1.1 Market Definition
1.2 Key Findings of the Study
- Research Scope and Methodology
2.1 Study Deliverables
2.2 Study Assumptions
2.3 Research Methodology
2.4 Research Phases
- Market Dynamics
3.1 Drivers
3.1.1 Increased Area Under Cultivation
3.1.2 Increase in the Demand for Corn-based Biofuel Use
3.1.3 Growth in Feed Use
3.2 Restraints
3.2.1 Difficulty of Preserving the Identity of Non-GM Crops
3.2.2 Climate Change Affecting Productivity
- Market Segmentation by Region
- Future Outlook of the Market
- Appendix
- Disclaimer
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