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Mexico Corn Market Size, Share, Growth, Analysis, Report: By Product: Organic, Conventional; By Application: Food and Beverages, Animal Feed, Ethanol Production, Others; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis, Key Indicators for Demand, Key Indicators for Price; Competitive Landscape; 2024-2032
Mexico Corn Market Outlook
The Mexico corn market size is projected to grow at a CAGR of 1.8% between 2024 and 2032. The market is being driven by the increasing sustainable cultivation of corn in the country.
Key Takeaways
- Mexico is the world's 2nd largest grain importer, followed by only China.
- In 2022-23, Mexico produced an estimated 27.4 million tonnes of corn, an increase of 0.9 million tonnes from 2021-2022.
- By application, animal feed is expected to constitute a major portion of the Mexico corn market share.
Foreign Agricultural Service operating under the USDA has forecasted that corn exports to Mexico are expected to record a y-o-y growth of 5% to reach 22 million tonnes. This is owing to the increasing demand for starch and the rising production of animal feed in Mexico. In 2023, the United States accounted for 85% of overall corn imports into Mexico. As tensions relating to the import of genetically modified corn reduce between the two countries, the Mexico corn market is expected to register significant growth in the forecast period.
Increasing health consciousness and the drive to safeguard ancient Mexican heritage are prompting the government to incentivise the cultivation of corn in eco-friendly ways. Small scale farmers account for a large portion of corn cultivators in Mexico, which makes it essential for the government to protect them against foreign market players. Thus, measures to increase crop yields and ensure adequate farmers’ income are expected to drive the Mexico corn market expansion over the forecast period.
Challenges related to climate change and droughts are expected to hinder the yield of corn cultivation in Mexico. However, increasing government investments in various water conservation and infrastructure development projects are expected to incentivise farmers to enhance their crop yields, driving the Mexico corn market growth.
Market Segmentation
Mexico Corn Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments
Market Breakup by Product
- Organic
- Conventional
Market Breakup by Application
- Food and Beverages
- Animal Feed
- Ethanol Production
- Others
Market Breakup by Region
- Baja California
- Northern Mexico
- The Bajío
- Central Mexico
- Pacific Coast
- Yucatan Peninsula
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Product |
|
| Breakup by Application |
|
| Breakup by Region |
|
| Market Dynamics |
|
*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
3.4 Key Market Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Latin America Corn Market Overview
8.1 Key Industry Highlights
8.2 Latin America Corn Historical Market (2018-2023)
8.3 Latin America Corn Market Forecast (2024-2032)
8.4 Latin America Corn Market Breakup by Country
8.4.1 Brazil
8.4.2 Mexico
8.4.3 Argentina
8.4.4 Others
9 Mexico Corn Market Overview
9.1 Key Industry Highlights
9.2 Mexico Corn Historical Market (2018-2023)
9.3 Mexico Corn Market Forecast (2024-2032)
10 Mexico Corn Market by Product
10.1 Organic
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Conventional
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
11 Mexico Corn Market by Application
11.1 Food and Beverages
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Animal Feed
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 Ethanol Production
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 Others
12 Mexico Corn Market by Region
12.1 Baja California
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Northern Mexico
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 The Bajío
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Central Mexico
12.4.1 Historical Trend (2018-2023)
12.4.2 Forecast Trend (2024-2032)
12.5 Pacific Coast
12.5.1 Historical Trend (2018-2023)
12.5.2 Forecast Trend (2024-2032)
12.6 Yucatan Peninsula
12.6.1 Historical Trend (2018-2023)
12.6.2 Forecast Trend (2024-2032)
13 Market Dynamics
13.1 SWOT Analysis
13.1.1 Strengths
13.1.2 Weaknesses
13.1.3 Opportunities
13.1.4 Threats
13.2 Porter’s Five Forces Analysis
13.2.1 Supplier’s Power
13.2.2 Buyers Powers
13.2.3 Threat of New Entrants
13.2.4 Degree of Rivalry
13.2.5 Threat of Substitutes
13.3 Key Indicators for Demand
13.4 Key Indicators for Price
14 Value Chain Analysis
15 Trade Data Analysis (HS Code: 1005)
15.1 Major Importing Countries
15.1.1 By Volume
15.1.2 By Value
15.2 Major Exporting Countries
15.2.1 By Volume
15.2.2 By Value
16 Price Analysis
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Latin America Corn Market: Key Industry Highlights, 2018 and 2032
2. Mexico Corn Market: Key Industry Highlights, 2018 and 2032
3. Mexico Corn Historical Market: Breakup by Product (MMT), 2018-2023
4. Mexico Corn Market Forecast: Breakup by Product (MMT), 2024-2032
5. Mexico Corn Historical Market: Breakup by Application (MMT), 2018-2023
6. Mexico Corn Market Forecast: Breakup by Application (MMT), 2024-2032
7. Mexico Corn Historical Market: Breakup by Region (MMT), 2018-2023
8. Mexico Corn Market Forecast: Breakup by Region (MMT), 2024-2032
9. Major Importing Countries by Volume
10. Major Exporting Countries by Volume
11. Major Importing Countries by Value
12. Major Exporting Countries by Value
13. Mexico Corn Market Structure
Key Questions Answered in the Report
The market is projected to grow at a CAGR of 1.8% between 2024 and 2032.
The different products in the market include organic and conventional.
The different applications of corn are food and beverages, animal feed, and ethanol production, among others.
The major regions in the market include Baja California, Northern Mexico, The Bajío, Central Mexico, Pacific Coast, and Yucatan Peninsula.
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