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Global Corn Market Price, Size, Share, Trends, Growth, Outlook, Analysis: By Source: Organic, Conventional; By Application: Food and Beverages, Animal Feed, Ethanol Production, Others; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis; Trade Data Analysis; Key Trends and Developments in the Market; 2023-2028
Global Corn Market Outlook
The global corn market reached a volume of 1,170.55 million metric tons in 2022. The market is expected to grow at a CAGR of 1.1% between 2023 and 2028.
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Increasing Corn Production in the United States and China Supporting the Market Growth
The major corn producing countries include the United States, China, and Brazil, with the United States accounting for nearly 36% of the total global output. The United States is also responsible for over 36% of the global exports, followed by Brazil, Argentina, Ukraine, and Russia, as the other major exporters of the crop.
The significant consuming markets for corn include the United States, China, the European Union, Mexico, and Brazil. This growing demand in these regions is supported by the end-use sectors like the animal feed and corn starch markets. The United States and China are among the largest consumers owing to the rapidly growing end-use sectors of corn in these regions. The countries that rely on imports are Mexico, Japan, South Korea, the European Union, and Egypt. The rising demand for corn in the United States is due to the expansion of the feed and industrial sectors. Corn is a source of carbohydrates and so forms an effective diet for livestock. The dominant application sector in the country is animal feed, followed by fuel ethanol. Meanwhile, the growing corn starch processing in China is driving the market demand, as China is the leading key player in corn starch production. The country also accounts for a significant market share in other application sectors like HFCS and polyols.
The global corn market is being driven by the capacity expansions by key market players.
Market Segmentation
Corn refers to the yellow or white corn seeds, used mainly as livestock feed and as food for humans. It is also known as maize or Indian corn, a cereal plant belonging to the grass family called Poaceae, which has edible grain. The domesticated plant originated in the Americas, especially Mexico, and is among the most widely distributed food crops in the world.
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The market is bifurcated on the basis of source into:
- Organic
- Conventional
Corn finds its applications in the following segments:
- Food and Beverages
- Animal Feed
- Ethanol Production
- Others
The EMR report also covers the regional markets of corn like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Growing Demand in Various End Use Sectors to Drive the Market Growth of Corn
The global corn market is being driven by the increasing applications of corn in various end-use sectors. Corn is widely used in the production of corn starch, which is further utilised in food ingredients, papers, ethanol, and sweeteners, among others. Corn is also used in the production of animal feed. The growing demand for all these products is providing an impetus to the market. The increasing demand for animal feed, as well as ethanol, has resulted in increased production of the crop. Corn is used in making biofuel because of the content of the starch present, and it can easily be converted into ethanol.
The rapidly rising demand for the product in the United States and China is mainly driven by the increasing use of the crop in various end-use sectors. The United States is a significant confectionery market, which is propelling the demand for corn starch owing to its use in sorbitol and sweeteners production. The growing demand for sorbitol, which is an end-use segment, is supporting the growth of the market. Sorbitol is abundantly used due to its low-calorie content among the health-conscious population. Sorbitol has wide applications in personal care products and pharmaceuticals. The corn market is also being driven by the easy availability and low manufacturing cost of the product. The favourable policies of the government, as well as the increasing FDI flows for both pharmaceuticals and personal care products, have aided the growth of the market, especially in the Asia Pacific region. India and China represent the major emerging markets for the product in the Asia Pacific.
The growing awareness about the health benefits of corn is resulting in its increased consumption. The intake of corn can lead to better gut health and lower the chances of diseases like cancer, heart disease, and type 2 diabetes. Also, yellow corn is a good source of the carotenoids like lutein and zeaxanthin, which boost eye health and prevent cataracts. The expanding production of corn, particularly in South Asian countries, due to their favourable geographical location and climatic conditions, is playing a critical role in the market development. The steps taken by the governments to boost the production of maize are providing impetus to the market expansion. For instance, in May 2022, the Government of India announced to increase maize production, encouraging farmers for the same through various initiatives to meet the demand from diverse sectors like poultry and ethanol production. The ongoing research and development activities to enhance the corn yield and maximise profit are likely to aid the market over the forecast period.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
Key Highlights of the Report
| Report Features | Details |
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Source |
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| Breakup by Application |
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| Breakup by Region |
|
| Market Dynamics |
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| Trade Data Analysis |
|
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Corn Market Analysis
8.1 Key Industry Highlights
8.2 Global Corn Historical Production (2018-2022)
8.3 Global Corn Production Forecast (2023-2028)
8.4 Global Corn Historical Consumption (2018-2022)
8.5 Global Corn Consumption Forecast (2023-2028)
8.6 Global Corn Market by Source
8.6.1 Organic
8.6.1.1 Historical Trend (2018-2022)
8.6.1.2 Forecast Trend (2023-2028)
8.6.2 Conventional
8.6.2.1 Historical Trend (2018-2022)
8.6.2.2 Forecast Trend (2023-2028)
8.7 Global Corn Market by Application
8.7.1 Food and Beverages
8.7.1.1 Historical Trend (2018-2022)
8.7.1.2 Forecast Trend (2023-2028)
8.7.2 Animal Feed
8.7.2.1 Historical Trend (2018-2022)
8.7.2.2 Forecast Trend (2023-2028)
8.7.3 Ethanol Production
8.7.3.1 Historical Trend (2018-2022)
8.7.3.2 Forecast Trend (2023-2028)
8.7.4 Others
8.8 Global Corn Market by Region
8.8.1 North America
8.8.1.1 Historical Production (2018-2022)
8.8.1.2 Production Forecast (2023-2028)
8.8.1.3 Historical Consumption (2018-2022)
8.8.1.4 Consumption Forecast (2023-2028)
8.8.2 Europe
8.8.2.1 Historical Production (2018-2022)
8.8.2.2 Production Forecast (2023-2028)
8.8.2.3 Historical Consumption (2018-2022)
8.8.2.4 Consumption Forecast (2023-2028)
8.8.3 Asia Pacific
8.8.3.1 Historical Production (2018-2022)
8.8.3.2 Production Forecast (2023-2028)
8.8.3.3 Historical Consumption (2018-2022)
8.8.3.4 Consumption Forecast (2023-2028)
8.8.4 Latin America
8.8.4.1 Historical Production (2018-2022)
8.8.4.2 Production Forecast (2023-2028)
8.8.4.3 Historical Consumption (2018-2022)
8.8.4.4 Consumption Forecast (2023-2028)
8.8.5 Middle East and Africa
8.8.5.1 Historical Production (2018-2022)
8.8.5.2 Production Forecast (2023-2028)
8.8.5.3 Historical Consumption (2018-2022)
8.8.5.4 Consumption Forecast (2023-2028)
9 North America Corn Market Analysis
9.1 Market by Source
9.2 Market by Application
9.3 Market by Country
9.3.1 United States of America
9.3.1.1 Historical Trend (2018-2022)
9.3.1.2 Forecast Trend (2023-2028)
9.3.2 Canada
9.3.2.1 Historical Trend (2018-2022)
9.3.2.2 Forecast Trend (2023-2028)
10 Europe Corn Market Analysis
10.1 Market by Source
10.2 Market by Application
10.3 Market by Country
10.3.1 United Kingdom
10.3.1.1 Historical Trend (2018-2022)
10.3.1.2 Forecast Trend (2023-2028)
10.3.2 Germany
10.3.2.1 Historical Trend (2018-2022)
10.3.2.2 Forecast Trend (2023-2028)
10.3.3 France
10.3.3.1 Historical Trend (2018-2022)
10.3.3.2 Forecast Trend (2023-2028)
10.3.4 Italy
10.3.4.1 Historical Trend (2018-2022)
10.3.4.2 Forecast Trend (2023-2028)
10.3.5 Others
11 Asia Pacific Corn Market Analysis
11.1 Market by Source
11.2 Market by Application
11.3 Market by Country
11.3.1 China
11.3.1.1 Historical Trend (2018-2022)
11.3.1.2 Forecast Trend (2023-2028)
11.3.2 Japan
11.3.2.1 Historical Trend (2018-2022)
11.3.2.2 Forecast Trend (2023-2028)
11.3.3 India
11.3.3.1 Historical Trend (2018-2022)
11.3.3.2 Forecast Trend (2023-2028)
11.3.4 ASEAN
11.3.4.1 Historical Trend (2018-2022)
11.3.4.2 Forecast Trend (2023-2028)
11.3.5 South Korea
11.3.5.1 Historical Trend (2018-2022)
11.3.5.2 Forecast Trend (2023-2028)
11.3.6 Australia
11.3.6.1 Historical Trend (2018-2022)
11.3.6.2 Forecast Trend (2023-2028)
11.3.7 Others
12 Latin America Corn Market Analysis
12.1 Market by Source
12.2 Market by Application
12.3 Market by Country
12.3.1 Brazil
12.3.1.1 Historical Trend (2018-2022)
12.3.1.2 Forecast Trend (2023-2028)
12.3.2 Argentina
12.3.2.1 Historical Trend (2018-2022)
12.3.2.2 Forecast Trend (2023-2028)
12.3.3 Mexico
12.3.3.1 Historical Trend (2018-2022)
12.3.3.2 Forecast Trend (2023-2028)
12.3.4 Others
13 Middle East and Africa Corn Market Analysis
13.1 Market by Source
13.2 Market by Application
13.3 Market by Country
13.3.1 Saudi Arabia
13.3.1.1 Historical Trend (2018-2022)
13.3.1.2 Forecast Trend (2023-2028)
13.3.2 United Arab Emirates
13.3.2.1 Historical Trend (2018-2022)
13.3.2.2 Forecast Trend (2023-2028)
13.3.3 Nigeria
13.3.3.1 Historical Trend (2018-2022)
13.3.3.2 Forecast Trend (2023-2028)
13.3.4 South Africa
13.3.4.1 Historical Trend (2018-2022)
13.3.4.2 Forecast Trend (2023-2028)
13.3.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Trade Data Analysis (HS Code - 1005)
16.1 Major Importing Countries
16.1.1 By Volume
16.1.2 By Value
16.2 Major Exporting Countries
16.2.1 By Volume
16.2.2 By Value
17 Price Analysis
17.1 North America Historical Price Trends (2018-2022) and Forecast (2023-2028)
17.2 Europe Historical Price Trends (2018-2022) and Forecast (2023-2028)
17.3 Asia Pacific Historical Price Trends (2018-2022) and Forecast (2023-2028)
17.4 Latin America Historical Price Trends (2018-2022) and Forecast (2023-2028)
17.5 Middle East and Africa Historical Price Trends (2018-2022) and Forecast (2023-2028)
18 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Corn Market: Key Industry Highlights, 2018 and 2028
2. Global Corn Historical Market: Breakup by Source (MMT), 2018-2022
3. Global Corn Market Forecast: Breakup by Source (MMT), 2023-2028
4. Global Corn Historical Market: Breakup by Application (MMT), 2018-2022
5. Global Corn Market Forecast: Breakup by Application (MMT), 2023-2028
6. Global Corn Historical Market: Breakup by Region (MMT), 2018-2022
7. Global Corn Market Forecast: Breakup by Region (MMT), 2023-2028
8. North America Corn Historical Market: Breakup by Country (MMT), 2018-2022
9. North America Corn Market Forecast: Breakup by Country (MMT), 2023-2028
10. Europe Corn Historical Market: Breakup by Country (MMT), 2018-2022
11. Europe Corn Market Forecast: Breakup by Country (MMT), 2023-2028
12. Asia Pacific Corn Historical Market: Breakup by Country (MMT), 2018-2022
13. Asia Pacific Corn Market Forecast: Breakup by Country (MMT), 2023-2028
14. Latin America Corn Historical Market: Breakup by Country (MMT), 2018-2022
15. Latin America Corn Market Forecast: Breakup by Country (MMT), 2023-2028
16. Middle East and Africa Corn Historical Market: Breakup by Country (MMT), 2018-2022
17. Middle East and Africa Corn Market Forecast: Breakup by Country (MMT), 2023-2028
18. Major Importing Countries by Volume
19. Major Exporting Countries by Volume
20. Major Importing Countries by Value
21. Major Exporting Countries by Value
22. North America Historical Price Trends and Forecast 2018-2028
23. Europe Historical Price Trends and Forecast 2018-2028
24. Asia Pacific Historical Price Trends and Forecast 2018-2028
25. Latin America Historical Price Trends and Forecast 2018-2028
26. Middle East and Africa Historical Price Trends and Forecast 2018-2028
Key Questions Answered in the Report
In 2022, the global corn market attained a volume of nearly 1,170.55 million metric tons.
The market is projected to grow at a CAGR of 1.1% between 2023 and 2028.
The market is being driven by the growing demand for sorbitol and the rising use of corn in end-use industries, such as personal care and pharmaceuticals, among others.
The key trends guiding the market include the rising demand for corn in the animal feed sector and the growing uses of corn as ethanol fuel.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The significant applications of corn include food and beverages, animal feed, and ethanol production, among others.
The major sources of corn are organic and conventional.
Analyst Review
The global corn market attained a volume of about 1,170.55 million metric tons in 2022, driven by the rising demand for corn from end-use industries. Aided by the increasing applications of corn in the animal feed and its use as ethanol fuel, the market is expected to witness a further growth in the forecast period of 2023-2028, growing at a CAGR of 1.1%.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on source, the market is divided into organic and conventional. On the basis of application, the corn industry can be segmented into food and beverages, animal feed, and ethanol production, among others. The major regional markets for corn are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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