Global Maize Market 2024

Maize Market Size

In 2022, the global maize market increased by X% to $X, rising for the sixth year in a row after two years of decline. The market value increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. Global consumption peaked at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Maize Production

In value terms, maize production contracted slightly to $X in 2022 estimated in export price. Overall, production showed a relatively flat trend pattern. The growth pace was the most rapid in 2013 when the production volume increased by X% against the previous year. Over the period under review, global production hit record highs at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

The countries with the highest volumes of production in 2022 were the United States (X tons), China (X tons) and Brazil (X tons), with a combined X% share of global production. Argentina, Ukraine, India, Mexico and Indonesia lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for Argentina (with a CAGR of X%), while production for the other global leaders experienced more modest paces of growth.

The global average maize yield reduced slightly to X tons per ha in 2022, almost unchanged from the previous year. The yield figure increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The pace of growth was the most pronounced in 2013 when the yield increased by X% against the previous year. The global yield peaked at X tons per ha in 2021, and then fell modestly in the following year. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the global harvested area of maize shrank slightly to X ha, with a decrease of X% on the year before. The harvested area increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The pace of growth appeared the most rapid in 2013 when the harvested area increased by X%. Over the period under review, the harvested area dedicated to maize production reached the maximum at X ha in 2021, and then declined in the following year.

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Maize Exports

Exports

In 2022, global exports of maize rose significantly to X tons, growing by X% compared with the previous year. Overall, total exports indicated buoyant growth from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2012 indices. The most prominent rate of growth was recorded in 2015 when exports increased by X% against the previous year. Over the period under review, the global exports hit record highs in 2022 and are likely to see gradual growth in the immediate term.

In value terms, maize exports soared to $X in 2022. Over the period under review, exports recorded a strong expansion. The pace of growth was the most pronounced in 2021 when exports increased by X%. Over the period under review, the global exports hit record highs in 2022 and are likely to continue growth in the near future.

Exports by Country

The biggest shipments were from the United States (X tons), Brazil (X tons), Argentina (X tons) and Ukraine (X tons), together resulting at X% of total export. The following exporters - Romania (X tons), France (X tons), Paraguay (X tons), Poland (X tons), South Africa (X tons) and India (X tons) - together made up X% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Poland (with a CAGR of X%), while the other global leaders experienced more modest paces of growth.

In value terms, the largest maize supplying countries worldwide were the United States ($X), Brazil ($X) and Argentina ($X), together accounting for X% of global exports. Ukraine, France, Romania, Poland, South Africa, India and Paraguay lagged somewhat behind, together accounting for a further X%.

Poland, with a CAGR of X%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average maize export price amounted to $X per ton, picking up by X% against the previous year. Overall, the export price showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the average export price increased by X%. Over the period under review, the average export prices reached the peak figure in 2022 and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was France ($X per ton), while Paraguay ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (X%), while the other global leaders experienced more modest paces of growth.

Maize Imports

Imports

In 2022, global imports of maize rose significantly to X tons, increasing by X% compared with the previous year's figure. In general, total imports indicated strong growth from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2012 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, maize imports skyrocketed to $X in 2022. Over the period under review, imports showed a prominent expansion. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. Global imports peaked in 2022 and are likely to continue growth in the near future.

Imports by Country

The countries with the highest levels of maize imports in 2022 were Mexico (X tons), China (X tons), Japan (X tons), South Korea (X tons), Spain (X tons), Vietnam (X tons), Iran (X tons), Egypt (X tons), Italy (X tons), Taiwan (Chinese) (X tons), Colombia (X tons) and the Netherlands (X tons), together accounting for X% of total import. Canada (X tons) took a minor share of total imports.

From 2012 to 2022, the biggest increases were recorded for Canada (with a CAGR of X%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the largest maize importing markets worldwide were China ($X), Japan ($X) and Mexico ($X), together comprising X% of global imports. South Korea, Spain, Vietnam, Egypt, Italy, Iran, Colombia, the Netherlands, Taiwan (Chinese) and Canada lagged somewhat behind, together comprising a further X%.

In terms of the main importing countries, Vietnam, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

The average maize import price stood at $X per ton in 2022, increasing by X% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average import price increased by X% against the previous year. Global import price peaked in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Japan ($X per ton), while Mexico ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Egypt (X%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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