Corn Seeds Market

Global Corn Seed Market Size (2024 to 2032)

The global corn seed market was valued at USD 28.76 billion in 2023 and is anticipated to reach USD 30.76 billion in 2024 from USD 54.05 billion by 2032, growing at a CAGR of 7.3% from 2024 to 2032. 

CURRENT SCENARIO OF THE GLOBAL CORN SEED MARKET

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. 

MARKET DRIVERS

• The yield and quality of corn have improved significantly by genetic engineering, which is a crucial driver of this corn seed market. 
• Advancing market planning by key players in relation to stockpiling based on demand and supply circumstances works remarkably well for the robust growth of the corn seed market during the forecast period.

MARKET RESTRAINTS

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 COVERAGE

SEGMENTAL ANALYSIS

Global Corn Seed Market Analysis By Type

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.

Global Corn Seed Market Analysis By End Products

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.

REGIONAL ANALYSIS

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.

KEY PLAYERS IN THE GLOBAL CORN SEED MARKET

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.

RECENT DEVELOPMENTS IN THE GLOBAL CORN SEED MARKET

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.

DETAILED SEGMENTATION OF THE GLOBAL CORN SEED MARKET INCLUDED IN THIS REPORT

This research report on the global corn seed market is segmented and sub-segmented into the following categories.

By Type

• Baby Corn
• Field Corn
• Sweet Corn
• Pop Corn

By End Products

• Animal Feed
• Corn Flour or meal
• Corn Starch
• Corn Syrup

By Region

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa