Europe Maize Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)

The Europe Maize Market size is estimated at USD 34.85 billion in 2023, and is expected to reach USD 40.95 billion by 2028, growing at a CAGR of 3.28% during the forecast period (2023-2028).

Key Highlights

• Maize has a broad range of industrial applications such as food processing and ethanol production. The market has changed drastically over the past decade due to the rapid increase in production owing to the development of biotechnological advancement in the grain. As per the Eurostat, Europe harvested grain maize that reportedly increased to 196.9 million metric ton in 2021 from 192.8 million in 2020, which reflects the higher apparent yields. The overall increase at the level of the European Union was mainly due to a strong rebound in the harvested productions in Romania (+46.8 %) and France (+14.5 %).
• The leading maize-producing countries in Europe are Ukraine, France, Italy, and Romania. Ukraine alone accounts for almost 10.0% of the global maize crop. The rapid rise of the livestock industry and the commercial compound feed industry is driving the demand for maize in the region owing to higher nutrition in terms of protein requirement for feeding livestock. Moreover, the increasing health awareness has resulted in a rising preference for the protein-rich diet which is increasing demand for grains including maize, thus driving the growth of Europe maize market.
• According to the USDA report, Ukraine corn production for marketing year 2022 was estimated at 27.0 million metric ton, down 14 percent from November 2022 and 36 percent from the 2021. The crop yield was estimated at 6.75 ton per hectare, down 4 percent from November 2022 and 12 percent from the year 2021. In addition, the harvested area is estimated at 4.0 million hectares, with lower 27 percent from last year.
• The French National Federation of Maize and Sorghum Seed Production (F.N.P.S.M.S.) has increased the area of maize in the spring of 2020 throughout Europe. In the European Union, it was estimated to have gone up 3 percent, reaching 15.3 million hectares, of which 9 million hectares of grain maize (+ 3 percent) and 6.3 million hectares of feed maize (+ 2 percent) in France.

Europe Maize Market Trends

Increasing Demand for Animal-based Protein Sources is Driving the Market

• Maize is one of the key ingredients of almost every type of compound feed for animal types, such as ruminants, poultry, swine, and aquaculture. Hence, the rising demand for animal-based protein sources will likely drive the trade and the market for maize globally. According to Eurostat, there has been a significant increase in the areas planted with grain maize in Russia and Ukraine. The data suggests that in Russia, the area planted with grain maize has increased by 9 percent to 2.8 million hectares, while in Ukraine, the area has gone up by 8 percent to 5.4 million hectares.
• The increasing pressure on the livestock industry has intensified recently to meet the rising demand for meat and high-value animal protein. Population growth, rising incomes in developing nations, and urbanization have led to global livestock consumption surging. The income levels and animal protein consumption have been found to be directly correlated to the consumption of milk, meat, and eggs, which is increasing at the expense of staple foods.
• According to Eurostat, European countries' meat consumption per capita was about 77.1 kilograms. The European Union has a sizeable livestock population; in 2021, there were 146 million pigs, 76 million bovine animals, and 75 million sheep and goats. According to Food and Agriculture Organization (FAO), the livestock sector consumes about 6 billion tons of feed materials annually in dry matter, including one-third of the global cereal production in 2021.

Rising Maize Exports across the Region

• Ukraine is one of the world's major grain producers, including maize. According to the European Commission, in 2021, Ukraine accounted for 42.1 million metric tons, followed by France with 15.3 million metric tons, Romania with 14.8 million metric tons, and Poland with 7.3 million metric tons. In August 2022, the United States Department of Agriculture (USDA) also raised its estimates for Ukraine's corn production and export. For 2022-23, the USDA estimates Ukraine's corn production to be 30 million metric tons, up 5 million metric tons from the July estimate. Meanwhile, Ukraine's corn export is projected to be 12.5 million metric tons from the 9 million metric tons estimated earlier.
• According to the International Trade Center (ITC) Trademap, in the year 2021, the major importer countries in Ukraine were China with 7.9 million metric tons, Spain with 2.4 million metric tons, Netherlands for 2.2 million metric tons, Egypt for 2.2 million metric ton, and Iran for 1.6 million metric tons.
• Maize consumption is projected to increase slower than in the past decade, in line with global production. This is a result of a combination of factors, including feed demand, biofuel policies, and human consumption, which will boost more exports of maize from the region. The increasing popularity of drought-resistant corn varieties in France and Romania will escalate crop yield and further propel exports in the global trade market.
• In 2020, Ukraine exported 27.9 million metric tons of corn, making it the world's fourth-largest exporter of corn. Corn exports' main destinations from Ukraine are China, Netherlands, Egypt, Spain, and Turkey.

Europe Maize Industry Overview

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