Global Maize (Corn) Seed Market - 2024-2031

Report Overview

Global Maize (Corn) Seed Market reached US$ 25.8 billion in 2023 and is expected to reach US$ 41.4 billion by 2031, growing with a CAGR of 6.09% during the forecast period 2024-2031.

Maize serves as a key crop worldwide. It is primarily used for animal feed, food products and industrial applications. The global maize seed market is influenced by factors such as agricultural practices, technological advancements and global demand trends. Population growth, increased meat consumption and industrial applications act as major boosting factors for market expansion.

The rapid technological developments taking place at the global level drive market growth. For instance, in February 2024 origin Agritech Ltd. introduced a breakthrough by integrating a wild corn gene into its commercial hybrids, boosting plant density and yield by over 10%. This first-of-its-kind enhancement improves photosynthesis and efficiency, with the new hybrid set to replace the current version within two years.

Asia-Pacific dominates the global market with higher production capacity. According to the Food and Agriculture Organization of the United Nations 2023, Asia-Pacific accounted for a total of 389.89 million tons of maize production out of the total of 1.16 billion tons of global production in 2022, with India and China accounting for 33.73 million tons and 277.20 million tons respectively.

Market Dynamics

Growing Demand for Maize

Rising global food demand, driven by a growing population and increased maize consumption, drive the market growth. According to UN, World Population Prospects (2024), the world population reached 8.09 billion in 2023. Globally, maize consumption is distributed as 61% for feed, 17% for food and 22% for industrial uses. Maize has become a significant industrial crop, with 83% of its global production utilized in feed, starch and biofuel industries.

The maize role as a critical industrial crop further propels the need for increased maize production to meet diverse and growing demands. In addition, the economic development, urbanization and food security concerns, further fuel the need for higher maize production and improved seed varieties. Maize's role as a staple food and essential animal feed makes it crucial in meeting these demands efficiently.

Technological Advancements in Maize (Corn) Seed Production

Innovations in seed technology, including hybrid and genetically modified seeds, enhance yields, disease resistance and adaptability and drive the market growth. These technologies address agricultural challenges, increase maize productivity and meet the growing global demand for maize, thereby stimulating the market's expansion.

For instance, in July 2022, the Seed Production Technology for Africa (SPTA) enhanced maize seed production by creating hybrids with fifty percent non-pollen-producing plants, leading to a 10-20% yield increase. This innovation simplifies the process by eliminating the need for labor-intensive detasseling, reducing costs and improving seed quality.

In addition, in March 2024, ZeaKal introduced its innovative PhotoSeed technology for corn, which boosts oil content by 23% without affecting yield or protein levels. By enhancing photosynthesis and carbon capture, PhotoSeed increases oil production while maintaining high yields. This breakthrough aims to transform corn's value for growers, industry and consumers.

Climate Change

Climate change acts as a major restraint for the global maize market. Climate change may affect the production of maize (corn) as early as 2030, according to a NASA study in 2021. Extreme weather events like droughts, floods and heatwaves disrupt production and reduce yields. Unpredictable growing seasons complicate farming, while soil degradation and increased pest and disease pressures further threaten productivity.

Market Segment Analysis

The global maize (corn) seed market is segmented based on type, nature, seed size, distribution channel, end-user and region.

Superior Performance and Yield Potential of Hybrid Seeds

The global maize (corn) seed market is segmented based on nature into hybrid seeds, genetically modified seeds and open-pollinated varieties. Hybrid seeds dominate the maize seed market due to their superior performance and yield potential. Produced by cross-breeding two genetically distinct maize varieties, hybrids offer enhanced traits such as higher yields, improved disease resistance and better adaptability to varied environmental conditions.

The uniform growth and consistent performance of these seeds lead to more predictable and increased yields, which is highly valued by farmers. Additionally, hybrid seeds are more resilient to pests and diseases compared to open-pollinated varieties, further boosting their appeal. The ability to tailor hybrids to specific climatic and soil conditions enhances their market dominance, as they provide farmers with reliable, high-return options, reinforcing their leading position in the maize seed market.

Market Geographical Share

High Export Potential of Asia-Pacific

Asia-Pacific dominates the global market. Several regional countries are significant maize exporters, increasing the demand for maize seeds to meet both domestic and international market needs. India's role as the 5th largest maize producer and the 14th largest exporter highlights its significant contribution to the global maize seed market and aligns with the broader export potential of Asia-Pacific.

With major cultivation areas in states like Karnataka, Madhya Pradesh and Bihar, India produces an estimated 35.67 million tonnes of maize in 2023-24, supporting both domestic needs and international trade. Its export of 14,42,671.48 MT of maize, valued at 443.53 US$ million in 2023-24, to countries such as Vietnam, Nepal and Bangladesh underscores its pivotal role in the region's maize export dynamics.

The extensive production and export capability, coupled with advancements in agricultural technology, reinforces India's strategic position in meeting the growing global demand for maize and enhancing the region's prominence in the market. It is experiencing rapid advancements in agricultural technologies and practices, including the adoption of high-yielding and genetically modified maize seeds, contributing to its market dominance.

Market Competitive Landscape

The major global players in the market include Advanta Seeds, Bayer Group, Corteva Agriscience, KWS SAAT SE & Co. KGaA, Syngenta Group, Charoen Pokphand Group, Limagrain Field Seeds India, Kaveri Seeds, Yuan Longping High-Tech Agriculture Co. Ltd. and Nuziveedu Seeds Ltd.

Russia-Ukraine War Impact

The Russia-Ukraine war has disrupted the global maize seeds market by causing supply chain interruptions, increasing prices and affecting exports. Ukraine's reduced maize output and export challenges have led to higher costs and market volatility, with shifts in trade routes and a greater demand for seeds from other regions. The conflict has highlighted the interconnectedness and vulnerabilities in global agriculture.

AI Impact

AI is transforming the maize seed market by enhancing research and development, optimizing crop management and improving yield predictions. Through advanced data analytics and machine learning, AI helps in developing high-yield and disease-resistant seed varieties. It also enables precision agriculture by analyzing soil conditions and weather patterns to tailor planting strategies.

By Type

Field Corn

Sweet Corn

Popcorn

Flint Corn

Dent Corn

Others

By Nature

Hybrid Seeds

Genetically Modified Seeds

Open-Pollinated Varieties

By Seed Size

Small Seed Size

Large Seed Size

By Distribution Channel

Direct Sales

Retail Stores

Online Sales

By End-User

Food Service Industry

Household

By Region

North America

US

Canada

Mexico

Europe

Germany

UK

France

Italy

Spain

Rest of Europe

South America

Brazil

Argentina

Rest of South America

Asia-Pacific

China

India

Japan

Australia

Rest of Asia-Pacific

Middle East and Africa

Key Developments

In March 2024, Seed Co launched new maize varieties designed to enhance agricultural productivity. These varieties are developed to offer improved yields, better resistance to pests and diseases and adaptability to varying environmental conditions.

In April 2023, CIMMYT introduced five new maize hybrids from its South Asia breeding program. These hybrids are designed to enhance yield, resilience and adaptability to various growing conditions.

In March 2023, Corteva Agriscience launched Vorceed Enlist corn, offering advanced protection against corn rootworms and broadleaf weeds. This new technology features multi-mode insect protection and herbicide tolerance, available through the Corteva Horizon Network. It aims to boost yield and weed management for US farmers.

Why Purchase the Report?

To visualize the global maize (corn) seed market segmentation based on type, nature, seed size, distribution channel, end-user and region, as well as understand key commercial assets and players.

Identify commercial opportunities by analyzing trends and co-development.

Excel spreadsheet containing a comprehensive dataset of the maize (corn) seed market, covering all levels of segmentation.

PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.

Product mapping available as excel consisting of key products of all the major players.

The global maize (corn) seed market report would provide approximately 78 tables, 74 figures and 225 pages.

Target Audience 2024

Manufacturers/ Buyers

Industry Investors/Investment Bankers

Research Professionals

Emerging Companies