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World - Maize - Market Analysis, Forecast, Size, Trends and Insights
Report Update: Nov 1, 2024

World - Maize - Market Analysis, Forecast, Size, Trends and Insights

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Apr 16, 2021

Global Corn Market Maintains Steady Growth Despite Lower Bioethanol Demand

Driven by rising demand from the food industry and favourable weather, global corn production increased significantly in 2020. The rise in prices made the raw corn-based production of bioethanol unprofitable amid the low cost of traditional fuels due to the pandemic, resulting in the closure of some distilleries. In the future, the growing demand for alternative fuels is expected to offset this shift and promote the corn market.

IndexBox has just published a new report: 'World - Maize - Market Analysis, Forecast, Size, Trends and Insights'. Here is a summary of the report's key findings.

Key Trends and Insights

Driven by rising demand from food industry and favourable weather, global corn production grew by 2% to 1,435М tons in 2020 (IndexBox estimates). Brazil (+7M tons), South Africa (+1.2M tons) and India (+1.2M) tons indicated the most substantial increase in output.

Global corn exports saw a 6% rise, to 168.2М tons. In 2020, global corn prices increased substantially, from $170 per ton in March 2020 to $240-280 per ton in March 2021. Argentina retained the lowest competitive export prices in 2020 ($239 per ton, FOB).

High corn prices resulted in lower competitiveness of corn bioethanol, which aggravated the pandemic-related drop in demand for biofuels. This led to bioethanol plants being forced out of production: according to the Renewable Fuels Association (RFA), approx. 20 out of the 200 ethanol production facilities in the U.S. remain idle; a further 20 have cut production. The volumes of corn intended for biofuel production were redirected to growing exports.

In the period to 2030, the global corn market is set to expand to 1.978M tons. Increasing corn consumption in the food sector driven by steady population growth remains the key development factor in terms of market expansion. The market for alternative fuels may yet see significant development, thereby increasing the demand for corn, should environmental standards become more stringent and a carbon tax on greenhouse emissions be imposed.

China, the U.S. and Brazil Consume more than Half of Global Corn Production

The countries with the highest volumes of maize consumption in 2019 were China (523M tons), the U.S. (322M tons) and Brazil (60M tons), with a combined 64% share of global consumption. Mexico, Indonesia, Argentina and India lagged somewhat behind, together accounting for a further 9.2%.

In value terms, the largest maize markets worldwide were China ($170.8B), the U.S. ($106B) and Mexico ($22.5B), with a combined 60% share of the global market. Indonesia, Brazil, India and Argentina lagged somewhat behind, together comprising a further 8.2%.

The countries with the highest levels of maize per capita consumption in 2019 were the U.S. (978 kg per person), Argentina (619 kg per person) and China (359 kg per person).

Brazil Leads in Exports

Brazil (43M tons), Argentina (29M tons), Ukraine (27M tons) and the U.S. (26M tons) represented roughly 79% of total exports of maize in 2019. The following exporters - Romania (4.6M tons), France (3.7M tons), Russia (3.1M tons), Hungary (3M tons), Paraguay (2.7M tons) and Bulgaria (2.6M tons) - together made up 12% of total exports.

In value terms, the U.S. ($8.9B), Brazil ($7.3B) and Argentina ($6B) were the countries with the highest levels of exports in 2019, together comprising 62% of global exports. These countries were followed by Ukraine, France, Romania, Hungary, Russia, Bulgaria and Paraguay, which together accounted for a further 28%.

In 2019, the average maize export price amounted to $229 per ton, approximately reflecting the previous year. Overall, the export price, however, showed a pronounced contraction. The pace of growth was the most pronounced in 2017 an increase of 13% year-to-year. The global export price peaked at $301 per ton in 2013; however, from 2014 to 2019, export prices stood at a somewhat lower figure.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the global maize market. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

  • FCL 56 - Maize

Country coverage:

Worldwide - the report contains statistical data for 200 countries and includes detailed profiles of the 50 largest consuming countries:

+ the largest producing countries

Data coverage:

  • Global market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Global production, split by region and country
  • Global trade (exports and imports)
  • Export and import prices
  • Market trends, drivers and restraints
  • Key market players and their profiles

Company coverage:

Viterra, Cargill, Bunge, Dreyfus, Archer Daniels Midland Company, Krasnodaragroalliance, TPK Varna, Maize Corporation, Westland Corporation, Kyodo Yushi Manufacturing Americas, ICAMED, SEA, Genesis Harvest Trade & Co, Adjacent Properties Corp, Genuine Energy Inc, UBiquitousGCS LLC International Import Export, F. Garcia, Calgrain Corporation, Star Trading Inc., Dcosta Padma, Monzelle Commodities, Daah Volta Farms, Triumph Global, Agtrium International, Leo Taurus Corp., Macvern Distribution Limited, Adjacent Properties Corp.

Reasons to buy this report:

  • Take advantage of the latest data
  • Find deeper insights into current market developments
  • Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

  1. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS

  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO

  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. CONSUMPTION BY COUNTRY
    3. MARKET FORECAST TO 2030

  4. 4. MOST PROMISING PRODUCT

    Finding New Products to Diversify Your Business

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCT
    4. MOST TRADED PRODUCT
    5. MOST PROFITABLE PRODUCT FOR EXPORT

  5. 5. MOST PROMISING SUPPLYING COUNTRIES

    Choosing the Best Countries to Establish Your Sustainable Supply Chain

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. COUNTRIES WITH TOP YIELDS
    4. TOP EXPORTING COUNTRIES
    5. LOW-COST EXPORTING COUNTRIES

  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Exports

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS

  7. 7. GLOBAL PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE
    2. PRODUCTION BY COUNTRY
    3. HARVESTED AREA AND YIELD BY COUNTRY

  8. 8. GLOBAL IMPORTS

    The Largest Importers on The Market and How They Succeed

    1. IMPORTS FROM 2012–2023
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. GLOBAL EXPORTS

    The Largest Exporters on The Market and How They Succeed

    1. EXPORTS FROM 2012–2023
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO

  11. 11. COUNTRY PROFILES

    The Largest Markets And Their Profiles

    This Chapter is Available Only for the Professional Edition PRO
    • United States
    • China
    • Japan
    • Germany
    • United Kingdom
    • France
    • Brazil
    • Italy
    • Russian Federation
    • India
    • Canada
    • Australia
    • Republic of Korea
    • Spain
    • Mexico
    • Indonesia
    • Netherlands
    • Turkey
    • Saudi Arabia
    • Switzerland
    • Sweden
    • Nigeria
    • Poland
    • Belgium
    • Argentina
    • Norway
    • Austria
    • Thailand
    • United Arab Emirates
    • Colombia
    • Denmark
    • South Africa
    • Malaysia
    • Israel
    • Singapore
    • Egypt
    • Philippines
    • Finland
    • Chile
    • Ireland
    • Pakistan
    • Greece
    • Portugal
    • Kazakhstan
    • Algeria
    • Czech Republic
    • Qatar
    • Peru
    • Romania
    • Vietnam

  12. LIST OF TABLES

    1. Key Findings In 2023
    2. Market Volume, In Physical Terms, 2012–2023
    3. Market Value, 2012–2023
    4. Per Capita Consumption, By Country, 2018–2023
    5. Production, In Physical Terms, By Country, 2012–2023
    6. Harvested Area, By Country, 2012-2023
    7. Yield, By Country, 2012-2023
    8. Imports, In Physical Terms, By Country, 2012–2023
    9. Imports, In Value Terms, By Country, 2012–2023
    10. Import Prices, By Country Of Destination, 2012–2023
    11. Exports, In Physical Terms, By Country, 2012–2023
    12. Exports, In Value Terms, By Country, 2012–2023
    13. Export Prices, By Country Of Origin, 2012–2023

  13. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2023
    2. Market Value, 2012–2023
    3. Consumption, By Country, 2023
    4. Market Volume Forecast to 2030
    5. Market Value Forecast to 2030
    6. Products: Market Size And Growth, By Type
    7. Products: Average Per Capita Consumption, By Type
    8. Products: Exports And Growth, By Type
    9. Products: Export Prices And Growth, By Type
    10. Production Volume And Growth
    11. Yield And Growth
    12. Exports And Growth
    13. Export Prices And Growth
    14. Market Size And Growth
    15. Per Capita Consumption
    16. Imports And Growth
    17. Import Prices
    18. Production, In Physical Terms, 2012–2023
    19. Production, In Value Terms, 2012–2023
    20. Area Harvested, 2012–2023
    21. Yield, 2012–2023
    22. Production, By Country, 2023
    23. Production, In Physical Terms, By Country, 2012–2023
    24. Harvested Area, By Country, 2023
    25. Harvested Area, By Country, 2012-2023
    26. Yield, By Country, 2012-2023
    27. Imports, In Physical Terms, 2012–2023
    28. Imports, In Value Terms, 2012–2023
    29. Imports, In Physical Terms, By Country, 2023
    30. Imports, In Physical Terms, By Country, 2012–2023
    31. Imports, In Value Terms, By Country, 2012–2023
    32. Import Prices, By Country, 2012–2023
    33. Exports, In Physical Terms, 2012–2023
    34. Exports, In Value Terms, 2012–2023
    35. Exports, In Physical Terms, By Country, 2023
    36. Exports, In Physical Terms, By Country, 2012–2023
    37. Exports, In Value Terms, By Country, 2012–2023
    38. Export Prices, 2012–2023

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