
World - Maize - Market Analysis, Forecast, Size, Trends and Insights
Global Maize Market 2023
Maize Market Size
The global maize market expanded modestly to $X in 2021, picking up by 2.7% against the previous year. Over the period under review, consumption saw a relatively flat trend pattern. Global consumption peaked at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.
Maize Production
In value terms, maize production amounted to $X in 2021 estimated in export price. Overall, production continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2013 with an increase of 14% against the previous year. Over the period under review, global production hit record highs at $X in 2014; however, from 2015 to 2021, production remained at a lower figure.
The countries with the highest volumes of production in 2021 were the United States (X tons), China (X tons) and Brazil (X tons), with a combined 62% share of global production. These countries were followed by Argentina, Ukraine, India, Mexico and Indonesia, which together accounted for a further 15%.
From 2012 to 2021, the most notable rate of growth in terms of production, amongst the leading producing countries, was attained by Argentina (with a CAGR of +11.8%), while production for the other global leaders experienced more modest paces of growth.
The global average maize yield totaled X tons per ha in 2021, approximately reflecting the year before. The yield figure increased at an average annual rate of +1.9% from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 when the yield increased by 11% against the previous year. The global yield peaked at X tons per ha in 2018; afterwards, it flattened through to 2021. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.
In 2021, the global harvested area of maize declined modestly to X ha, therefore, remained relatively stable against the year before. The harvested area increased at an average annual rate of +1.1% over the period from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when the harvested area increased by 4%. Over the period under review, the harvested area dedicated to maize production reached the peak figure at X ha in 2020, and then contracted modestly in the following year.
Maize Exports
Exports
For the tenth consecutive year, the global market recorded growth in overseas shipments of maize, which increased by 1.6% to X tons in 2021. In general, total exports indicated a remarkable increase from 2012 to 2021: its volume increased at an average annual rate of +5.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +61.9% against 2012 indices. The growth pace was the most rapid in 2015 when exports increased by 14%. The global exports peaked in 2021 and are likely to see steady growth in the near future.
In value terms, maize exports soared to $X in 2021. Overall, total exports indicated a pronounced increase from 2012 to 2021: its value increased at an average annual rate of +4.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +76.4% against 2015 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
Exports by Country
The United States was the largest exporting country with an export of about X tons, which resulted at 36% of total exports. Argentina (X tons) held the second position in the ranking, followed by Ukraine (X tons) and Brazil (X tons). All these countries together took approx. 42% share of total exports. Romania (X tons), France (X tons), India (X tons), South Africa (X tons) and Hungary (X tons) followed a long way behind the leaders.
From 2012 to 2021, the biggest increases were in Romania (with a CAGR of +13.6%), while shipments for the other global leaders experienced more modest paces of growth.
In value terms, the United States ($X) remains the largest maize supplier worldwide, comprising 37% of global exports. The second position in the ranking was held by Argentina ($X), with a 16% share of global exports. It was followed by Ukraine, with a 12% share.
In the United States, maize exports expanded at an average annual rate of +7.8% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Argentina (+6.3% per year) and Ukraine (+4.6% per year).
Export Prices by Country
In 2021, the average maize export price amounted to $X per ton, rising by 36% against the previous year. Overall, the export price, however, showed a mild contraction. Over the period under review, the average export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.
Prices varied noticeably country of origin: the country with the highest price was France ($X per ton), while Brazil ($X per ton) was amongst the lowest.
From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+1.8%), while the other global leaders experienced mixed trends in the export price figures.
Maize Imports
Imports
In 2021, the amount of maize imported worldwide surged to X tons, rising by 17% on the previous year. In general, total imports indicated a strong expansion from 2012 to 2021: its volume increased at an average annual rate of +6.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +70.3% against 2013 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.
In value terms, maize imports skyrocketed to $X in 2021. Overall, total imports indicated a perceptible increase from 2012 to 2021: its value increased at an average annual rate of +4.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +71.0% against 2016 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.
Imports by Country
In 2021, China (X tons), distantly followed by Japan (X tons), South Korea (X tons) and Vietnam (X tons) were the key importers of maize, together creating 41% of total imports. The following importers - Spain (X tons), Egypt (X tons), Mexico (X tons), Iran (X tons), Colombia (X tons), Italy (X tons), the Netherlands (X tons), Taiwan (Chinese) (X tons) and Malaysia (X tons) - together made up 27% of total imports.
From 2012 to 2021, average annual rates of growth with regard to maize imports into China stood at +21.6%. At the same time, Vietnam (+23.3%), Italy (+7.9%), Egypt (+6.8%), Colombia (+6.8%), South Korea (+4.0%), Spain (+3.6%), Iran (+3.3%), Malaysia (+2.5%) and the Netherlands (+2.4%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in the world, with a CAGR of +23.3% from 2012-2021. Japan and Taiwan (Chinese) experienced a relatively flat trend pattern. By contrast, Mexico (-4.4%) illustrated a downward trend over the same period. From 2012 to 2021, the share of China and Vietnam increased by +16 and +4 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.
In value terms, China ($X), Mexico ($X) and Japan ($X) appeared to be the countries with the highest levels of imports in 2021, together comprising 33% of global imports. These countries were followed by South Korea, Vietnam, Egypt, Spain, the Netherlands, Iran, Colombia, Italy, Taiwan (Chinese) and Malaysia, which together accounted for a further 33%.
In terms of the main importing countries, Vietnam, with a CAGR of +19.2%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.
Import Prices by Country
The average maize import price stood at $X per ton in 2021, picking up by 18% against the previous year. Overall, the import price, however, saw a slight contraction. Global import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.
Prices varied noticeably country of destination: the country with the highest price was Mexico ($X per ton), while China ($X per ton) was amongst the lowest.
From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (+11.1%), while the other global leaders experienced mixed trends in the import price figures.
Base Year | Historical Period | Forecast Period | Units |
---|---|---|---|
2022 | 2012-2022 | 2023-2030 | US$, Tons |
Frequently Asked Questions (FAQ) :
This report provides an in-depth analysis of the 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 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
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