The global corn seed market size is expected to reach USD 30.76 billion in 2024 and reach USD 43.75 billion by 2029, growing at a CAGR of 7.3% from 2024 to 2029.
Corn is the third-largest planted crop in the world next to wheat and rice. Although it is an important food crop, it is often used and traded as a feed crop. It is cultivated in the temperate, tropical and subtropical regions of the world.
Higher commodity prices have adversely affected the corn seed market, making it the primary constraint for market growth. Reduced land under corn acreage, especially in the United States and Brazil, is a secondary factor limiting this market.
REPORT METRIC |
DETAILS |
Market Size Available |
2023 to 2029 |
Base Year |
2023 |
Forecast Period |
2024 to 2029 |
CAGR |
7.3% |
Segments Covered |
By Type, End Product, And Region. |
Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
Market Leaders Profiled |
Monsanto, DuPont Pioneer, Bayer CropScience, Hefei Fengbao. Some other key Players of the Market include Pacific Seeds, Syngenta, Nuziweedu Seeds, China National Seeds, DLF Trifolium. |
Of these, popcorn is the largest and the fastest-growing segment, accounting for the bulk of the market. In 2020, the pop corn division contributed a market share of more than 60%. The section is expected to expand at a CAGR of 12.2% during the forecast period of 2020 - 2025. The reason for such growth is attributed to the identification of popcorn as a perfect movie companion.
Nowadays, with increased urbanization, and disposable incomes, movie theatres are making more than 65% of their profits from popcorn but not from selling movie tickets. Native Americans initially discovered the potential of corn kernels to "pop" and stretch with the application of temperature. Several varieties of maize will pop up, but some types were explicitly developed for this purpose.
Out of these, Animal Feed is both the largest and the fastest-growing segment, accounting for over 55% of the total share in 2020. The division is expected to expand at a CAGR of 10.2% during the forecast period of 2020 - 2025. The reason for such growth is due to the likability of corn-based products by many cattle. Corn is a significant diet of cows, chickens, and farmed catfish.
The United States, Brazil, China, India, Argentina, Mexico, Indonesia, and France are the world's largest corn-growing countries. North America, followed closely by Latin America, is the largest market for corn seed, accounting for nearly 65 percent of the overall market share. The US accounts for 40% of the world's harvest and is the largest value-added market. In 2010, the cornfield area in the US was approximately 35 million hectares. The United States, Japan, China, and India are the main consuming countries of maize. Mexico, Italy, Canada, France, and Spain are the main importers of the U.S. corn seed. Mexico has many traditional dishes made from corn.
The key players in the corn seed market include Monsanto, DuPont Pioneer, Bayer CropScience, and Hefei Fengbao. Some other key players in the market include Pacific Seeds, Syngenta, Nuziweedu Seeds, China National Seeds, and DLF Trifolium. Many of these key players focused on incorporating technological innovations and market expansion strategies to stay ahead of the competition.
The Government of Azerbaijan began producing hybrid corn for which haploid corn seeds came from Turkey in August 2020. The new product was named Adasa 16 and will be grown in the province of Agjabadi. The choice to harvest it is to improve productivity and enhance the economic condition of the country.
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