The Latin American corn seeds market size is expected to reach USD 8.40 billion in 2024. And anticipated to reach USD 12.40 billion by 2029, growing at a CAGR of 8.1% from 2024 to 2029. It captures 25% of the global market.
After wheat and rice, corn is the third largest crop planted worldwide. Though it is an important food crop it is often utilized and traded as a feed crop. It is grown in temperate, tropical and sub-tropical regions of the world.
Yield and quality of corn have improved considerably through genetic engineering, which is a primary driver of this market. Advance planning by major players in the market regarding stock piling based on demand and supply conditions augurs well for a robust market growth in the aforementioned forecast period.
Lower commodity prices have adversely impacted the market making it the primary restraint of market growth. Reduced land under corn acreage especially in US and Brazil is a secondary factor constraining the growth of this market.
Brazil, Argentina, and Mexico are the major corn-producing nations of the world. Latin America is the second largest corn seed market, commanding nearly 65% of the market share (joint with North America). Mexico, is among the largest importers of U.S. corn seed respectively.
Key players in the market include Monsanto, Monsanto Company, DuPont Pioneer, Syngenta, and Bayer CropScience.
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