Maize Market size to increase by USD 41.08 billion from 2021 to 2026 | The increasing demand for maize as animal feed drives the market - Technavio

NEW YORK, Sept. 7, 2023 /PRNewswire/ -- The maize market size is expected to grow by USD 41.08 billion from 2021 to 2026, according to Technavio. In addition, the growth momentum of the market will be progressing at a CAGR of 2.6% during the forecast period. Increasing demand for maize as animal feed is notably driving the maize market. However, factors such as logistics and distribution challenges may impede the market growth. The market is segmented by end-user (Industrial, Retail, and Foodservice) and geography (North America, APAC, South America, Europe, and Middle East and Africa). Technavio provides a comprehensive report summary describing the market size and forecast along with research methodology. The sample report is available in PDF format 

Key Segment Analysis

• The maize market share growth by the industrial segment will be significant during the forecast period. The growth is attributed to the various industrial uses of maize and its byproducts such as oil, starch, and alcohol. For instance, maize byproducts, which are in the form of powder, such as maize starch, can be used as a filler in the manufacture of plastics, adhesives, glues, resins, and artificial leather. 

 To know additional highlights and key points on various market segments and their impact in coming years, View the PDF Sample Report.

Geographical Market Analysis 

• North America is estimated to contribute 39% of the growth of the global market during the forecast period. The US is the key market for maize in North America. In this region, market growth will be faster than the growth of the market in Europe and MEA. The presence of some of the largest maize-producing countries, such as the US and Mexico will facilitate the maize market growth in North America over the forecast period.

Company Insights 

The maize market is fragmented, and the companies are deploying organic and inorganic growth strategies to compete in the market. The report analyzes the market's competitive landscape and offers information on several market companies, including Alianz Global Groups Pty Ltd., Archer Daniels Midland Co., Associated British Foods plc, Balaji Exim, Bayer AG, Bunge Ltd., Cargill Inc., CGB Enterprises Inc., COFCO Corp., Exotic Exim, Fazaz Global Concepts LLC, Gombella Integrated Services Ltd., Greenfield Global Inc., Groupe Limagrain Holding, Ingredion Inc., Ista International General Trading LLC, Louis Dreyfus Co. BV, Maeddy Impex Pvt. Ltd., Roquette Freres SA, Tate and Lyle Plc, and Tereos Group

Market Dynamics 

Driver

The increasing demand for maize as animal feed is notably driving the market growth. In developing nations like India, the upsurge in both population numbers and consumer incomes has led to a notable escalation in meat and poultry consumption. Within India, maize plays a pivotal role as it constitutes a substantial portion, accounting for 50%-60% of broiler feed and 25%-35% of layer feed. This demand translates to approximately 24 million metric tons of maize consumption in India, with 13.5 million metric tons dedicated to poultry feed. In 2022, the Federation of Indian Chambers of Commerce and Industry (FICCI) initiated the maize mission aimed at promoting and augmenting maize production within the country. The escalating global need for meat and poultry products, coupled with the growing livestock population, is anticipated to propel the demand for maize-based animal feed during the forecast period.

Challenge 

The logistics and distribution challenges are major challenges hindering the market growth. Producers involved in maize and its byproducts encounter substantial transportation hurdles, including the obligation to pay taxes at multiple checkpoints and the subpar condition of road infrastructure, both of which can significantly hamper the efficiency of freight distribution. The dearth of collection points and insufficient storage and warehousing facilities further exacerbate issues linked to inventory management. The market features several intermediaries, such as wholesalers, commission agents, and retailers, with these intermediaries aiming to mitigate any potential revenue declines that may arise due to inventory gaps. Instances can emerge where a supplier is incapable of meeting the requisite maize quantity. To sustain the order fulfillment rate, intermediaries often engage multiple maize vendors. These intricate logistics and distribution challenges bear the potential to adversely influence the growth of the global maize market during the stipulated forecast period.

View the PDF Sample Report to find additional highlights on the growth strategies adopted by companies and their product offerings.

Related Reports:

The maize oil market share is expected to increase to USD 1.88 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 7.67%. This report extensively covers maize oil market segmentation by type( Edible and Non-edible) and geography (North America, APAC, Europe, South America, and Middle East and Africa). One of the key factors driving the global maize oil industry growth is the application of maize oil in cosmetics and personal care products.

The wheat protein market share is expected to increase by USD 951.18 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 5.17%. This report extensively covers wheat protein market segmentation by type (wheat gluten, wheat protein isolate, textured wheat protein, and others) and geography (North America, Europe, APAC, South America, and Middle East and Africa). One of the key factors driving growth in the wheat protein market is the growing vegan population.

ToC:

Excustive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by End-user

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio