The ‘Global Corn Market Price, Size, Share, Trends, Growth Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global corn market, assessing the market on the basis of its segments like applications, and major regions.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
Corn Market Outlook, Share, Size, Trends, Industry Report, Key Players, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
• Forecast CAGR (2023-2028): 5.3%
The increasing usage of corn across the food and beverage industry is driving its demand. Corn is witnessing an increased incorporation in various processed food products including tortilla, chips, cornmeal, and corn oil, among others. Corn is healthy and supports the overall growth of the body.
In this regard, the increasing inclination towards fitness and bodybuilding is likely to fuel the corn demand in the coming years. Over the forecast period, the anticipated increase in population, growing preference for corn products, and awareness of health benefits of corn are expected to improve the corn market dynamics.
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The growing demand for corn for animal feed, particularly cattle, is another crucial market driving factor. Animal feed has been incorporating corn as a principal ingredient, as corn improves the cattle health and provides essential nutrients. Additionally, corn is inexpensive, which is further fuelling its demand as animal feed.
Corn is also utilised in the industrial sector which is a key corn market driving factor. Corn is used in the production of ethanol, sweeteners, paper products, and sorbitol, among others. Over the forecast period, the escalating usage of downstream products of corn, such as sorbitol in the personal care industry, is expected to aid the market. Meanwhile, the increasing production of sweeteners as a sugar alternative is another factor generating the demand for corn.
Corn Industry Definition and Major Segments
Corn or maize is the edible seed obtained from the tall cereal plant known as Zea mays. This product can be found in diverse varieties. Corn is mainly used as a feedstock and human food, which is a major driving factor of the global market for corn. Corn is also a good source of protein and fibre. It is used in various forms, including from directly on the cob, separated corn kernels, and processed to produce corn meal and corn flour.
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Based on application, the market can be segmented into:
• Feed and Residual
• Food, Seed, Industrial
On the basis of region, the market can be categorised into:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
Corn Market Trends
The key trends in the global corn market include the thriving e-commerce industry which is bolstering the sale of downstream food products based on corn. Products such as clean-packaged corn starch, sweet corn, fresh raw corn, and popcorn kernels, among others, are witnessing a steady demand. Over the forecast period, the market is likely to be influenced positively by the growing purchasing power and easy accessibility of canned corn products.
The growing awareness pertaining to the nutritional benefits offered by corn is another crucial market driving trend. Corn is rich in antioxidants which prevent the cell damage, and it also promotes eye health.
In regional terms, North America is estimated to witness a steady growth in the forecast period. The corn market in this region is likely to be driven by the increasing prevalence of obesity which is expected to improve the domestic demand for healthy products like corn. The vast corn farms in the United States is another factor bolstering the market growth in this region.
Key Market Players
The major players in the corn market report are:
- Archer Daniels Midland Company
- Cargill Inc.
- Ingredion Inc.
- Tate & Lyle Plc
- Roquette Frères
- Tereos SA
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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