The global corn production is estimated to reach 1177.3 million metric tons in 2023, growing at a CAGR of 2.14% for the period spanning from 2019 to 2023. The factors such as escalating population, accelerating economy, increasing demand for feeding and industrial usage and growing use of corn starch are expected to drive the market. However, growth of the industry will be challenged by long production period and climate and pest related problems. A few notable trends include growing ethanol production, healthy eating habits and use of genetically modified seeds.
The global corn market is mainly used for food, animal feeding and industrial uses. In the corn market, animal feeding usage accounted for the highest share in 2018. Increasing demand for animal feed is forecasted to rise due to increasing demand for livestock and consumer preferences. Consumption is estimated to be higher, mainly driven by the demand for animal feed and use of ethanol fuel.
The largest corn market is the United States owing to increasing corn production and improving technology advancement which contributed to the corn yield growth in the US. The US and Asia Pacific are highly established premium markets that contribute to significant shares in the global market. Increasing interest of the consumers in nutritionally enriched products in India propelled the consumption of corn in the market. EU represents one of the largest markets for corn and is already a well-penetrated market.
Scope of the report:
• The report provides a comprehensive analysis of the global corn market, mainly used for food, animal feeding and industrial uses.
• The major regional markets (Argentina, Brazil, China, The US, EU, India, South Africa) have been analyzed.
• The market dynamics such as growth drivers, market trends and challenges are analyzed in-depth.
• The competitive landscape of the market, along with the company profiles of leading players (Archer Daniels Midland Company, Bunge Limited, Andersons, Inc., Green Plains Inc., Ingredion Inc. and Cargill Inc.) are also presented in detail.
Key Target Audience:
• Corn Products Manufacturers
• Raw Material Suppliers
• End Users
• Consulting Firms
• Investment Banks
• Government Bodies & Regulating Authorities