Maize Market: Introduction
Maize is one of the oldest plants domesticated by humans. Maize or Corn, also known by its scientific name Zea mays, is a plant belonging to the family of grasses. Maize comes under coarse grains category and is the third largest planted crop after wheat & rice. Maize is an annual plant which is cultivated globally due to its exceptional geographic adaptability however its cultivation is mostly concentrated in the Northern hemisphere countries. A significant portion i.e. over 60% of global maize production is used in animal feed as it provides a high amount of energy and oil content to the livestock. Moreover, maize is used as staple food and also find a broad range of industrial application such as food processing and ethanol production. Maize market has undergone dramatic change over the past few decades owing to the green revolution and rapid development in biotechnological advancement in seed and production which has resulted in the availability of genetically modified maize seeds which offers increased average maize yield. For instance, according to Food and Agriculture Organization (FAO), globally the yield of maize crop has grown to over 11% in 2014 from 2004, while the total production quantity of maize increased around 28% in 2014 from 2004 owing to the increasing demand of maize from its various end use application industries. Furthermore, escalating demand for ethanol is also anticipated to drive the growth of maize market over the forecast period.
Maize Market Segmentation
Global Maize market can be segmented on the basis of type, color, end use, nature, and region. On the basis type, maize market is segmented into the dent or field maize, flint or Indian maize, floury maize, and sweet maize. On the basis of color, Maize market is segmented into yellow maize and white maize. The yellow maize segment is anticipated to remain dominant in terms of value over the forecast period owing to its usage in animal feed and high geographical adaptability while the white maize requires more favorable geographical condition and is generally recognized as the food crop. On the basis of the end use, maize market is segmented into Food and Beverage, Animal feed, Pharmaceutical, Personal Care & Cosmetics, Industrial Application and Others. The food and beverage segment is further sub-segmented into direct consumption and processed consumption. On the basis of nature, maize market is segmented into conventional maize and organic maize. Conventional maize is further sub-segmented into non-GMO maize and GMO maize.
Maize Market: Regional Outlook
On the basis of geography, the Maize market is segmented into North America, Latin America, Europe, Asia-Pacific, and MEA. Globally, among all regions, North America is expected to be the largest market for the Maize, followed by Asia Pacific over the forecast period owing to the high production of maize crop and its consumption in animal feed. Globally, U.S. is the largest producer of maize followed by China and is expected to contribute maximum revenue in the near future. However, Asia Pacific is anticipated to witness rapid growth over the forecast period owing to increasing demand for Maize in animal feed due to meteorically increasing population dynamics which has resulted in a sudden surge in the demand for food.
Maize Market: Dynamics
Increasing demand for animal feed and industrial use owing to ever increasing global population is expected to drive the growth of global maize market over the forecast period. Moreover, increasing health awareness in emerging and developing economies have resulted in the shift of dietary preference of people towards protein-rich food which has led to an increased demand for all feed grains which also include maize, thus driving the growth of the global maize market.
However, constant fluctuation in the prices of maize and rising concern of consumers towards genetically modified maize which has resulted in the demand for the segregation of non-GM crop from GM crop has resulted in an added expense to overall supply chain thus restraining the growth of global maize market.
Maize Market Key Player:
Some of the major players operating in Maize market includes Cargill Inc, Louis Dreyfus Company, Archer-Daniels-Midland Company, COFCO Group, Bunge Group, ZEN-NOH Co. Ltd., Glencore
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold in the market
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.