Corn Market To Reach $377.27 Billion By 2030 | CAGR 3.6%

Corn Market Growth & Trends

The global corn market size is expected to reach USD 377.27 billion in 2030, registering a CAGR of 3.6% from 2024 to 2030, according to a new report by Grand View Research, Inc. Corn is a primary ingredient in livestock feed. The growth of the livestock industry, driven by increasing meat consumption, contributes to the demand for corn as a feedstock. Corn is a major feedstock for biofuel production, particularly ethanol. Government policies and incentives promoting the use of biofuels as an alternative to fossil fuels significantly impact the demand for corn.

Furthermore, the global push for renewable energy sources and efforts to reduce reliance on fossil fuels has led to increased demand for biofuels. Corn-based ethanol is used as a cleaner alternative to traditional gasoline, contributing to the growth of the market. Corn is used in various industrial applications, such as in the production of cornstarch, corn oil, and other derivatives. Cornstarch, for example, is used in the production of biodegradable plastics, textiles, and adhesives. The versatility of corn-based derivatives makes them attractive for use in non-food industrial applications, contributing to increased demand. The increasing demand for these products drives the overall demand for corn.

Shifting consumer preferences, such as the demand for natural and plant-based products, influence the growth of the market. Corn-based products that align with consumer trends experience increased demand. Some corn-based derivatives, such as corn oil, are considered relatively healthier options compared to certain other cooking oils. As health and wellness trends influence consumer preferences, there is a growing demand for products derived from corn that are perceived as healthier or more natural. Supportive government policies, subsidies, and incentives for corn farmers can positively impact production and market growth. This includes policies related to agricultural practices, land use, and pricing.

The digital revolution in corn industry has led to reshaping the industry through technological innovation, replacing outdated, longwinded, and wasteful processes with fast, efficient, and sustainable methods. The innovations include the development of short-stature corn hybrids, such as the Smart Corn System, which are approximately 30% smaller than traditional hybrids but maintain similar yields. These shorter-statured plants are designed to withstand extreme winds and challenging weather conditions, reducing lodging and green snap tolerance. The system allows for more flexible timing and ground application of crop inputs, such as fungicides, insecticides, and nitrogen. The U.S. Department of Agriculture has determined that the short-stature corn can be safely grown, providing a potential solution to the challenges posed by climate change and extreme weather events.

Additionally, the adoption of genetically engineered seed varieties and precision farming systems has supported higher yields and expansion into new areas, contributing to increased corn acreage and productivity. The adoption of new seed technologies has significantly increased corn production by enabling farmers to plant corn seed more densely and earlier, leading to higher yields. Precision agriculture, propelled by advancements in the Internet of Things (IoT), is at the forefront. IoT sensors and monitoring devices provide real-time data on soil conditions, weather patterns, and crop health.

This information enables producers to make highly precise decisions regarding irrigation, fertilization, and pest control. Additionally, the integration of drones and satellite imaging offers corn producers a comprehensive view of their fields, allowing for effective monitoring, disease detection, and optimized field management practices. Digital farming platforms are becoming integral to modern agricultural practices. Farm management software provides comprehensive solutions for monitoring planting schedules, crop health, and resource management.

Major players in the market include China National Cereals, Oils and Foodstuffs Corporation (COFCO); Archer-Daniels-Midland (ADM); Cargill, Inc.; CHS Inc.; Bunge; Glencore; Louis Dreyfus Company; Ardent Mills. Various steps are adopted by these companies including new product launches, partnerships, mergers & acquisitions, global expansion, and others to gain more share of the market.

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Corn Market Report Highlights

• Asia Pacific dominated the market owing to high consumption patterns, growing population, and a significant livestock and poultry industry. Factors such as favorable agricultural practices, government policies, and diverse industrial uses further contribute to the region's prominence in the global market.

• Based on nature, the organic corn segment is estimated to grow with a substantial CAGR over the forecast period. The organic corn segment is experiencing rapid growth owing to increasing consumer health concerns and a growing awareness of organically produced food crops.

• Based on end-use, the B2B is expected to grow with a high CAGR over the forecast period. Within the B2B segment, corn finds diverse industrial applications, playing a role in the production of biofuels, industrial starch for processes, and pharmaceuticals. Companies engaged in this sector rely on B2B transactions to secure a supply of corn tailored for these specific applications.

Corn Market Segmentation

Grand View Research has segmented the global corn market based on nature, end-use, and region:

Corn Nature Outlook (Revenue, USD Million, 2018 - 2030)

• Organic

• Conventional

Corn End-use Outlook (Revenue, USD Million, 2018 - 2030)

• B2B

  • Food & Beverages

  • Animal Feed

  • Industrial Use (Biofuels, Starch, Adhesives, Pharmaceuticals)

  • Ethanol Production

  • Others (Cosmetics, Personal Care Products, and Construction Materials)

• B2C

  • Offline

  • Online

Corn Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • UK

  • Germany

  • France

  • Spain

  • Italy

• Asia Pacific

  • China

  • Japan

  • India

  • Australia

  • Indonesia

• Central & South America

  • Brazil

• Middle East & Africa

  • South Africa

List of Key Players in Corn Market

• China National Cereals, Oils and Foodstuffs Corporation (COFCO)

• Archer-Daniels-Midland (ADM)

• Cargill, Inc.

• CHS Inc.

• Bunge Limited

• Monsanto

• Corteva Agriscience

• Adani Wilmar

• Agrium Inc.

• Scoular