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World - Maize - Market Analysis, Forecast, Size, Trends and Insights
Update: COVID-19 Impact

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Article Publishing Date: Apr 16, 2021

Global Corn Market Maintains Steady Growth Despite Lower Bioethanol Demand

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Driven by rising demand from the food industry and favourable weather, global corn production increased significantly in 2020. The rise in prices made the raw corn-based production of bioethanol unprofitable amid the low cost of traditional fuels due to the pandemic, resulting in the closure of some distilleries. In the future, the growing demand for alternative fuels is expected to offset this shift and promote the corn market.

IndexBox has just published a new report: 'World - Maize - Market Analysis, Forecast, Size, Trends and Insights'. Here is a summary of the report's key findings.

Key Trends and Insights

Driven by rising demand from food industry and favourable weather, global corn production grew by 2% to 1,435М tonnes in 2020 (IndexBox estimates). Brazil (+7M tonnes), South Africa (+1.2M tonnes) and India (+1.2M) tonnes indicated the most substantial increase in output. 

Global corn exports saw a 6% rise, to 168.2М tonnes. In 2020, global corn prices increased substantially, from $170 per tonne in March 2020 to $240-280 per tonne in March 2021. Argentina retained the lowest competitive export prices in 2020 ($239 per tonne, FOB).

High corn prices resulted in lower competitiveness of corn bioethanol, which aggravated the pandemic-related drop in demand for biofuels. This led to bioethanol plants being forced out of production: according to the Renewable Fuels Association (RFA), approx. 20 out of the 200 ethanol production facilities in the U.S. remain idle; a further 20 have cut production. The volumes of corn intended for biofuel production were redirected to growing exports. 

In the period to 2030, the global corn market is set to expand to 1.978M tonnes. Increasing corn consumption in the food sector driven by steady population growth remains the key development factor in terms of market expansion. The market for alternative fuels may yet see significant development, thereby increasing the demand for corn, should environmental standards become more stringent and a carbon tax on greenhouse emissions be imposed.

China, the U.S. and Brazil Consume more than Half of Global Corn Production

The countries with the highest volumes of maize consumption in 2019 were China (523M tonnes), the U.S. (322M tonnes) and Brazil (60M tonnes), with a combined 64% share of global consumption. Mexico, Indonesia, Argentina and India lagged somewhat behind, together accounting for a further 9.2%.

In value terms, the largest maize markets worldwide were China ($170.8B), the U.S. ($106B) and Mexico ($22.5B), with a combined 60% share of the global market. Indonesia, Brazil, India and Argentina lagged somewhat behind, together comprising a further 8.2%.

The countries with the highest levels of maize per capita consumption in 2019 were the U.S. (978 kg per person), Argentina (619 kg per person) and China (359 kg per person).

Brazil Leads in Exports

Brazil (43M tonnes), Argentina (29M tonnes), Ukraine (27M tonnes) and the U.S. (26M tonnes) represented roughly 79% of total exports of maize in 2019. The following exporters - Romania (4.6M tonnes), France (3.7M tonnes), Russia (3.1M tonnes), Hungary (3M tonnes), Paraguay (2.7M tonnes) and Bulgaria (2.6M tonnes) - together made up 12% of total exports.

In value terms, the U.S. ($8.9B), Brazil ($7.3B) and Argentina ($6B) were the countries with the highest levels of exports in 2019, together comprising 62% of global exports. These countries were followed by Ukraine, France, Romania, Hungary, Russia, Bulgaria and Paraguay, which together accounted for a further 28%.

In 2019, the average maize export price amounted to $229 per tonne, approximately reflecting the previous year. Overall, the export price, however, showed a pronounced contraction. The pace of growth was the most pronounced in 2017 an increase of 13% year-to-year. The global export price peaked at $301 per tonne in 2013; however, from 2014 to 2019, export prices stood at a somewhat lower figure.

Source: IndexBox AI Platform

Product coverage:
• FCL 56 - Maize

This report provides an in-depth analysis of the global maize market. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2025.



Data coverage:
• Global market volume and value
• Per Capita consumption
• Forecast of the market dynamics in the medium term
• Global production, split by region and country
• Global trade (exports and imports)
• Export and import prices
• Market trends, drivers and restraints
• Key market players and their profiles

Reasons to buy this report:
• Take advantage of the latest data
• Find deeper insights into current market developments
• Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:
1. How to diversify your business and benefit from new market opportunities
2. How to load your idle production capacity
3. How to boost your sales on overseas markets
4. How to increase your profit margins
5. How to make your supply chain more sustainable
6. How to reduce your production and supply chain costs
7. How to outsource production to other countries
8. How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business

1.1
REPORT DESCRIPTION
1.2
RESEARCH METHODOLOGY AND AI PLATFORM
1.3
DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
1.4
GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance

2.1
KEY FINDINGS
2.2
MARKET TRENDS
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects

3.1
MARKET SIZE
3.2
CONSUMPTION BY COUNTRY
3.3
MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCTS

Finding New Products to Diversify Your Business

4.1
TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
4.2
BEST-SELLING PRODUCTS
4.3
MOST CONSUMED PRODUCT
4.4
MOST TRADED PRODUCT
4.5
MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain

5.1
TOP COUNTRIES TO SOURCE YOUR PRODUCT
5.2
TOP PRODUCING COUNTRIES
5.3
COUNTRIES WITH TOP YIELDS
5.4
TOP EXPORTING COUNTRIES
5.5
LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports

6.1
TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
6.2
TOP CONSUMING MARKETS
6.3
UNSATURATED MARKETS
6.4
TOP IMPORTING MARKETS
6.5
MOST PROFITABLE MARKETS
7. GLOBAL PRODUCTION

The Latest Trends and Insights into The Industry

7.1
PRODUCTION VOLUME AND VALUE
7.2
PRODUCTION BY COUNTRY
7.3
HARVESTED AREA AND YIELD BY COUNTRY
8. GLOBAL IMPORTS

The Largest Importers on The Market and How They Succeed

8.1
IMPORTS FROM 2007–2020
8.2
IMPORTS BY COUNTRY
8.3
IMPORT PRICES BY COUNTRY
9. GLOBAL EXPORTS

The Largest Exporters on The Market and How They Succeed

9.1
EXPORTS FROM 2007–2020
9.2
EXPORTS BY COUNTRY
9.3
EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles

11. COUNTRY PROFILES

The Largest Markets And Their Profiles

United States
China
Japan
Germany
United Kingdom
France
Brazil
Italy
Russian Federation
India
Canada
Australia
Republic of Korea
Spain
Mexico
Indonesia
Netherlands
Turkey
Saudi Arabia
Switzerland
Sweden
Nigeria
Poland
Belgium
Argentina
Norway
Austria
Thailand
United Arab Emirates
Colombia
Denmark
South Africa
Malaysia
Israel
Singapore
Egypt
Philippines
Finland
Chile
Ireland
Pakistan
Greece
Portugal
Kazakhstan
Algeria
Czech Republic
Qatar
Peru
Romania
Vietnam
LIST OF TABLES
Table 1:
Key Findings In 2020
Table 2:
Market Volume, In Physical Terms, 2007–2020
Table 3:
Market Value, 2007–2020
Table 4:
Per Capita Consumption, By Country, 2018–2020
Table 5:
Production, In Physical Terms, By Country, 2007–2020
Table 6:
Harvested Area, By Country, 2007-2020
Table 7:
Yield, By Country, 2007-2020
Table 8:
Imports, In Physical Terms, By Country, 2007–2020
Table 9:
Imports, In Value Terms, By Country, 2007–2020
Table 10:
Import Prices, By Country Of Destination, 2007–2020
Table 11:
Exports, In Physical Terms, By Country, 2007–2020
Table 12:
Exports, In Value Terms, By Country, 2007–2020
Table 13:
Export Prices, By Country Of Origin, 2007–2020
Table 14:
Producer Prices, By Major Producing Country, 2020
Table 15:
Producer Prices Index - Annual Data (2004-2006=100), By Major Producing Country
LIST OF FIGURES
Figure 1:
Market Volume, In Physical Terms, 2007–2020
Figure 2:
Market Value, 2007–2020
Figure 3:
Consumption, By Country, 2020
Figure 4:
Market Forecast To 2025
Figure 5:
Products: Market Size And Growth, By Type
Figure 6:
Products: Average Per Capita Consumption, By Type
Figure 7:
Products: Exports And Growth, By Type
Figure 8:
Products: Export Prices And Growth, By Type
Figure 9:
Production Volume And Growth
Figure 10:
Yield And Growth
Figure 11:
Exports And Growth
Figure 12:
Export Prices And Growth
Figure 13:
Market Size And Growth
Figure 14:
Per Capita Consumption
Figure 15:
Imports And Growth
Figure 16:
Import Prices
Figure 17:
Production, In Physical Terms, 2007–2020
Figure 18:
Production, In Value Terms, 2007–2020
Figure 19:
Area Harvested, 2007–2020
Figure 20:
Yield, 2007–2020
Figure 21:
Production, By Country, 2020
Figure 22:
Production, In Physical Terms, By Country, 2007–2020
Figure 23:
Harvested Area, By Country, 2020
Figure 24:
Harvested Area, By Country, 2007-2020
Figure 25:
Yield, By Country, 2007-2020
Figure 26:
Imports, In Physical Terms, 2007–2020
Figure 27:
Imports, In Value Terms, 2007–2020
Figure 28:
Imports, In Physical Terms, By Country, 2020
Figure 29:
Imports, In Physical Terms, By Country, 2007–2020
Figure 30:
Imports, In Value Terms, By Country, 2007–2020
Figure 31:
Import Prices, By Country, 2007–2020
Figure 32:
Exports, In Physical Terms, 2007–2020
Figure 33:
Exports, In Value Terms, 2007–2020
Figure 34:
Exports, In Physical Terms, By Country, 2020
Figure 35:
Exports, In Physical Terms, By Country, 2007–2020
Figure 36:
Exports, In Value Terms, By Country, 2007–2020
Figure 37:
Export Prices, 2007–2020

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