The Maize Seed Market is expected to grow at an annual growth rate of 5.5% between 2022 and 2027. The third most important crop after wheat and rice is Maize. The crop is mainly used as a forage crop. Maize is a versatile crop is cultivated in tropical, subtropical, and temperate regions. The maize seed market is expected to grow at a high rate mainly due to the increasing demand for high-quality seeds to feed the increasing population. United States, Brazil, and Argentina are the largest producers of Maize in the world, accounting for 46% of the global production.
The Maize Seed Market is fragmented owing to the lower market share of major market players. Local companies in national markets of different countries dominate, so the market is fragmented. Companies are investing more resources in R&D to strengthen their progress in the main markets.
The shift in global demand for cereals in favor of maize reflects rising incomes in many developing countries with consequent increases in meat consumption, which is boosting the demand for maize for poultry feed and pigs. The growing demand for animal feed is expected to accelerate in the future, due to increasing demand, economic growth, rising incomes, and increasing demand for livestock and consumer preferences. All of these factors have led to an increase in maize cultivation. New advances in genetic engineering specifically for maize have brought about the desired changes for better yield and quality. Technologically developed and genetically customized crops around the world have supported the growth of the seed market in recent years.
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REPORT METRIC |
DETAILS |
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Market Size Available |
2021 – 2027 |
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Base Year |
2021 |
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Forecast Period |
2022 - 2027 |
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CAGR |
5.5% |
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Segments Covered |
By Type, By Variety, By Application |
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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 |
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Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
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Market Leaders Profiled |
Syngenta, DuPont, Bayer, CropScience AG, Monsanto Company, Dow AgroSciences, BASSO, Longping High-tech, Limagrain, Shandong Seeds, Nuziveedu Seeds, DLF Trifolium, ShanDongDenghai Seeds, CP Seed, China National Seed, Hefei Fengbao Dekalb, Genetics Pacific Seeds, Jiangsu Dahua |
Drivers and Restraints:
Market Drivers:
The increasing demand for high-quality seeds, to feed the expanding population is driving growth in the global maize seed market. The development of hybrid maize varieties with excellent characteristics is also expected to boost the future demand of the global maize seed market. The yield and quality of maize have improved significantly by genetic engineering, which is a crucial driver of this Maize seed market. The increasing demand for maize as animal feed for poultry and swine is expected to drive growth in the market.
Market Restraints:
The increasing prices for maize have adversely affected the maize seed market. biotic and abiotic stresses due to pests are severely constraining production in developing countries and the availability of other better alternatives in the market to maize for animal feed is expected to hinder growth in the global maize seed market. Falling commodity prices impacted the growth of value in the seed market, especially for maize seeds.
Conventional Seeds
The GM seeds segment is expected to have high growth as companies are understanding its importance and Multinational companies are investing considerable amounts of money and time, for the development of GM maize with multiple pest tolerance.
The hybrid segment is expected to experience strong growth mainly due to the high demand for hybrid seeds in the global maize seed market due to the development of hybrid maize seed varieties with excellent characteristics. In addition, hybrid maize generates high yields, higher value, and lower production costs. The plants are bigger, stronger, and more vigorous. This hybrid vigor, or heterosis, occurs when two genetically unrelated inbred parents are crossed to create a hybrid.
The animal feed segment is the largest and the demand for maize as feed for poultry and swine is increasing. The growing demand for animal feed is expected to accelerate in the future, due to increasing demand, economic growth, rising incomes, and increasing demand for livestock and consumer preferences. The ethanol and biofuels segments are also expected to provide the maximum market potential to the maize seed market due to the increasing demand for more environmentally friendly and cost-effective fuel alternatives, in particular in the developing countries of Russia, China, India., Indonesia, and the others
Regional analysis:
North America is the largest region accounting for over 40%of the global harvest followed by Latin America. Asia-Pacific is the largest consumer market for Maize seeds. The European market is expected to grow at an annual rate of 7.6% during the forecast period. The Middle East & African markets are expected to grow at an annual rate of 8% this is mainly due to the increasing demand for animal feed.
Key Players:
Impact of Covid-19 on the Maize Seed Market:
The COVID-19 pandemic has affected the production, distribution, and cost of seeds, which play an important role in the development of many agricultural sectors. Availability and cost of transport due to reduced number of commercial flights. Shortage of manpower for production, transport, and documentation processes and the shrinking market for plants and seeds had also created problems in the production of seeds for international trade. But production is expected to remain stable, following a reduction in government restrictions such as travel restrictions and trade bans. Businesses began to resume after taking all necessary preventive measures, such as regular temperature checks, the use of personal protective equipment, and limited staff. However, the recent outbreak of the Covid-19 pandemic has resulted in a reduction in the stock of hybrid seeds compared to open-pollinated varieties. This was mainly due to movement restrictions throughout the maize-planting season, and therefore access to maize seeds was a major problem faced by farmers, as most farmhouses were not open.
Recent Developments:
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