
Asia - Maize (Green) - Market Analysis, Forecast, Size, Trends and Insights
Asia: Maize Market 2023
Maize Market Size in Asia
The Asian maize market rose remarkably to $X in 2021, increasing by 10% against the previous year. The market value increased at an average annual rate of +1.9% from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. Over the period under review, the market hit record highs in 2021 and is expected to retain growth in years to come.
Maize Production in Asia
In value terms, maize production expanded remarkably to $X in 2021 estimated in export price. Overall, production showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the production volume increased by 17% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.
The countries with the highest volumes of production in 2021 were Indonesia (X tons), China (X tons) and Thailand (X tons), with a combined 56% share of total production. Iran, Japan, Pakistan and India lagged somewhat behind, together comprising a further 34%.
From 2012 to 2021, the most notable rate of growth in terms of production, amongst the leading producing countries, was attained by India (with a CAGR of +23.5%), while production for the other leaders experienced more modest paces of growth.
In 2021, the average maize yield in Asia rose to X tons per ha, with an increase of 1.6% against 2020 figures. Over the period under review, the yield, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of 19%. Over the period under review, the maize yield reached the maximum level at X tons per ha in 2013; however, from 2014 to 2021, the yield failed to regain momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.
In 2021, the total area harvested in terms of maize (green) production in Asia shrank to X ha, approximately mirroring the year before. The harvested area increased at an average annual rate of +1.6% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2016 when the harvested area increased by 9.8%. Over the period under review, the harvested area dedicated to maize production attained the maximum at X ha in 2018; however, from 2019 to 2021, the harvested area failed to regain momentum.
Maize Exports
Exports in Asia
In 2021, approx. X tons of maize (green) were exported in Asia; shrinking by -28.4% compared with 2020. Over the period under review, exports, however, continue to indicate a mild increase. The growth pace was the most rapid in 2017 when exports increased by 48%. Over the period under review, the exports hit record highs at X tons in 2019; however, from 2020 to 2021, the exports failed to regain momentum.
In value terms, maize exports contracted slightly to $X in 2021. Total exports indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +6.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -20.9% against 2017 indices. The most prominent rate of growth was recorded in 2013 when exports increased by 38% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2017; however, from 2018 to 2021, the exports remained at a lower figure.
Exports by Country
China was the key exporting country with an export of around X tons, which recorded 41% of total exports. India (X tons) held the second position in the ranking, distantly followed by Thailand (X tons), Iran (X tons), Pakistan (X tons) and Malaysia (X tons). All these countries together took near 46% share of total exports. Oman (X tons) followed a long way behind the leaders.
From 2012 to 2021, the biggest increases were in Iran (with a CAGR of +9.5%), while shipments for the other leaders experienced more modest paces of growth.
In value terms, China ($X) remains the largest maize supplier in Asia, comprising 45% of total exports. The second position in the ranking was taken by India ($X), with a 13% share of total exports. It was followed by Thailand, with a 12% share.
In China, maize exports expanded at an average annual rate of +9.2% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: India (+4.9% per year) and Thailand (+4.2% per year).
Export Prices by Country
In 2021, the export price in Asia amounted to $X per ton, rising by 34% against the previous year. Export price indicated a buoyant increase from 2012 to 2021: its price increased at an average annual rate of +5.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2016 when the export price increased by 48%. As a result, the export price attained the peak level of $X per ton. From 2017 to 2021, the export prices failed to regain momentum.
Prices varied noticeably country of origin: the country with the highest price was Thailand ($X per ton), while Oman ($X per ton) was amongst the lowest.
From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+14.3%), while the other leaders experienced more modest paces of growth.
Maize Imports
Imports in Asia
Maize imports was estimated at X tons in 2021, with an increase of 14% compared with the previous year. Total imports indicated prominent growth from 2012 to 2021: its volume increased at an average annual rate of +7.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +86.6% against 2012 indices. The pace of growth appeared the most rapid in 2013 when imports increased by 30% against the previous year. Over the period under review, imports reached the peak figure in 2021 and are likely to see steady growth in the immediate term.
In value terms, maize imports soared to $X in 2021. Total imports indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +8.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +113.4% against 2012 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.
Imports by Country
Hong Kong SAR represented the key importing country with an import of around X tons, which amounted to 36% of total imports. Malaysia (X tons) ranks second in terms of the total imports with an 11% share, followed by Singapore (11%), the United Arab Emirates (7.3%), Nepal (6.7%) and Afghanistan (6.2%). Saudi Arabia (X tons), Kuwait (X tons), Macao SAR (X tons), South Korea (X tons), Qatar (X tons) and Kazakhstan (X tons) held a minor share of total imports.
Imports into Hong Kong SAR increased at an average annual rate of +12.8% from 2012 to 2021. At the same time, Nepal (+46.5%), Kuwait (+21.1%), Saudi Arabia (+12.9%), Malaysia (+10.8%), the United Arab Emirates (+10.7%), Afghanistan (+9.6%) and Macao SAR (+5.9%) displayed positive paces of growth. Moreover, Nepal emerged as the fastest-growing importer imported in Asia, with a CAGR of +46.5% from 2012-2021. Singapore and Kazakhstan experienced a relatively flat trend pattern. By contrast, South Korea (-3.0%) and Qatar (-15.3%) illustrated a downward trend over the same period. While the share of Hong Kong SAR (+13 p.p.), Nepal (+6.3 p.p.), Malaysia (+2.9 p.p.), the United Arab Emirates (+1.8 p.p.) and Kuwait (+1.8 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of South Korea (-2.5 p.p.), Singapore (-7.9 p.p.) and Qatar (-12.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.
In value terms, Hong Kong SAR ($X) constitutes the largest market for imported maize (green) in Asia, comprising 48% of total imports. The second position in the ranking was held by Singapore ($X), with a 10% share of total imports. It was followed by Malaysia, with an 8.7% share.
From 2012 to 2021, the average annual rate of growth in terms of value in Hong Kong SAR totaled +34.1%. In the other countries, the average annual rates were as follows: Singapore (+4.6% per year) and Malaysia (+11.7% per year).
Import Prices by Country
In 2021, the import price in Asia amounted to $X per ton, rising by 7.7% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.5%. The growth pace was the most rapid in 2020 when the import price increased by 16%. Over the period under review, import prices attained the peak figure in 2021 and is expected to retain growth in the near future.
Prices varied noticeably country of destination: the country with the highest price was South Korea ($X per ton), while Nepal ($X per ton) was amongst the lowest.
From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+18.8%), while the other leaders experienced more modest paces of growth.
Base Year | Historical Period | Forecast Period | Units |
---|---|---|---|
2022 | 2012-2022 | 2023-2030 | US$, Tons |
Frequently Asked Questions (FAQ) :
This report provides an in-depth analysis of the maize market in Asia. 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 2030.
Making Data-Driven Decisions to Grow Your Business
A Quick Overview of Market Performance
Understanding the Current State of The Market and Its Prospects
Finding New Products to Diversify Your Business
Choosing the Best Countries to Establish Your Sustainable Supply Chain
Choosing the Best Countries to Boost Your Exports
The Latest Trends and Insights into The Industry
The Largest Importers on The Market and How They Succeed
The Largest Exporters on The Market and How They Succeed
The Largest Producers on The Market and Their Profiles
The Largest Markets And Their Profiles
Recommended reports
This report provides an in-depth analysis of the global maize market.
This report provides an in-depth analysis of the maize market in the EU.
This report provides an in-depth analysis of the maize market in the U.S..
This report provides an in-depth analysis of the maize market in China.
Join us in our latest webinar series to get insights from industry experts and engage in a productive discussion!
Tuesday, February 22nd, 2022 @ 04:00 pm ET
Join us in our latest webinar series to get insights from industry experts and engage in a productive discussion!
Tuesday, February 8th, 2022 @ 04:00 pm ET
Join us in our latest webinar series to get insights from industry experts and engage in a productive discussion!
Tuesday, January 25th, 2022 @ 04:00 pm ET