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Global Corn Industry Report: by Application: Feed, Food, Seed and Industrial; Country Overview; Recent Events; Value Chain Analysis; Trade Analysis; Cost Structure; Price Analysis; Market Dynamics: Drivers & Constraints, Industry Events, Innovations & Trends, SWOT Analysis, Porter’s Five Forces; Industry Best Practices: Sourcing Strategy, Procurement Model, Contract Structure; Key Supplier Analysis, 2022-2027

Corn Industry Report by Regional Category Spend, Price Analysis, Key Demand and Price Indicators, and Best Buying Practices


The global corn market reached a value of about 1177.25 MMT in 2021. The industry is projected to grow at a CAGR of around 5.3% in the forecast period of 2022-2027 to reach a value of about 1604.87 MMT by 2027.

The global corn industry report comprehensively analyses the industry, including key segments, trends, drivers, restraints, the competitive landscape, and other essential market aspects. End-use markets such as animal feed and corn starch contribute to the global corn market growth. The growing meat industry is driving up demand for other grains, particularly maise and soybean, which are high in protein and used to feed cattle. In the industry report, the critical demand indicator is the highest category spender by region - North America.

Industry Definition and Segmentation

Corn (Zea mays), often known as Indian corn or maise, is a cereal grain developed 10,000 years ago by indigenous peoples in southern Mexico. The domesticated crop is one of the most extensively dispersed food crops globally, having originated in the Americas. The plant's leafy stem generates pollen inflorescences (or "silk") and distinct ovuliferous inflorescences called ears, which produce kernels or seeds, which are fruits when fertilised. Corn is utilised as cattle feed, human food, biofuel, and industrial raw material. The corn industry report comprises segments by application (Feed & Residual, Food, Seed, Industrial) and region (North America, Europe, Asia Pacific, the Middle East, Africa, and South America).

North America, Europe, Asia Pacific, Middle East & Africa, and South America Regions are Driving the Growth of the Industry

The North American region holds a significant share in the industry. Corn is the most common feed grain in the United States, accounting for more than 95 percent of total feed grain production and consumption. The United States, China, and Brazil are the top three producers, with the United States accounting for roughly 36% of total global output. The United States is also the leading crop exporter, accounting for over 36% of worldwide exports, with Brazil, Argentina, Ukraine, and Russia following closely behind. Due to population expansion, the increased global livestock consumption is primarily driving the corn industry. Hence, milk consumption, meat, and eggs drive market growth. Since then, maise has been an essential component of practically every compound feed for ruminants, poultry, swine, and aquaculture animals. Furthermore, corn is becoming more widely used in end-use sectors, driving the global corn market. Corn is used to make corn starch, which has many uses. The corn market also benefits from the increased demand for sorbitol, which health-conscious people often utilise.

Nevertheless, long production seasons and climatic and pest-related issues will likely hamper the market growth.

Best Procurement Practices

The global corn industry report by Procurement Resource gives an in-depth analysis of the best buying practices followed by major global corn producing and consuming regions across the globe, such as engagement models, contract terms, and buyer and supplier negotiation levers, among others.

Category Management Studies

Corn refiners employ #2 yellow dent corn harvested without the cob. A bushel of yellow dent corn weighs 56 pounds on average. About 70% of the kernel contains starch (from the endosperm), 10% is a protein (mainly gluten), 4% is oil (extracted from the germ), and 2% is fibre (from the hull). The corn refining process aims to remove each component before further refining it into specialised products. Corn is delivered to the refinery via truck, barge, or railroad. Corn shipments are inspected and cleaned twice to eliminate cob bits, dust, chaff, and foreign contaminants. The maise is then transported to storage silos with capacities of up to 350,000 bushels until it's ready to be transported to the refinery for steeping, the first processing stage. The kernels absorb water during steeping, increasing their moisture content from 15% to 45 percent and more than tripling in size. In the heated atmosphere, 0.1 percent sulphur dioxide added to the water avoids excessive bacterial development. The slight acidity of the steep water begins to break the gluten connections within the maise and release the starch as the corn swells and softens. The corn is roughly crushed after steeping to separate the germ from the other ingredients. Steepwater is condensed to extract nutrients from the water for animal feeds and later fermentation operations. The oil from the germ is extracted using mechanical and solvent techniques. After that, the oil is refined and filtered to create finished corn oil. The germ residue is collected and used as an additional ingredient in animal feed.

The Wide Availability of the Commodity, Further Propelling the Procurement of Corn

The primary market is also fuelled by the product's abundant availability and inexpensive manufacturing costs. The rise of the maise market has been assisted by the government's favourable policies, and increased FDI flows for both medicines and personal care items, particularly in the Asia Pacific area. India and China are the product's two most important emerging markets. It is also used to make cereals, alcohol, sweeteners, and by-product feed, among other foods and industrial items, further bolstering the industry's expansion.

The regional markets for the industry can be divided into North America, South America, Europe, the Middle East and Africa, and the Asia Pacific.

Key Industry Players Mentioned in the Corn Industry Report

  • Archer Daniels Midland Company
  • Cargill Inc.
  • Ingredion Inc.
  • Tate & Lyle Plc
  • Roquette Frères
  • Tereos SA

Market Landscape

Global maise output grew dramatically in 2020, owing to increasing demand from the food business and excellent weather. Due to the pandemic, raw corn-based bioethanol production became unprofitable, despite the cheap cost of traditional fuels, resulting in the shutdown of certain distilleries. The increased demand for alternative fuels is likely to counteract this trend and boost the corn market in the future.

Key Initiatives by Companies

  • Cargill releases a global mycotoxin report for 2021 to provide actionable insights to the animal feed industry to improve animal performance and health. Cargill Animal Nutrition developed a worldwide, web-based mycotoxins tool six years ago, based on thousands of mycotoxins studies. Cargill now has the world's most extensive and complete mycotoxin contamination database, with over 300,000+ mycotoxin tests gathered yearly across more than 150 worldwide feed factories, on-farm samplings, and storage locations.

1.    Executive Summary
2.    Global Corn Market Snapshot

    2.1.    Corn Market Outlook
    2.2.    Corn Industry Analysis by Application
        2.2.1.    Feed
        2.2.2.    Food, Seed and Industrial
    2.3.    Country Overview
        2.3.1.    US
        2.3.2.    Brazil
        2.3.3.    China
        2.3.4.    Others
3.    Impact of Recent Events 
4.    Corn Value Chain Analysis 
5.    Corn Production Process
6.    Trade Analysis 
7.    Major Risk Factors in Sourcing
8.    Corn Cost Structure
9.    Corn Price Analysis 
10.    Key Demand Indicator Analysis
11.    Key Price Indicator Analysis
12.    Corn Market Dynamics

    12.1.    Drivers & Constraints
    12.2.    Industry Events 
    12.3.    Innovations & Trends
    12.4.    SWOT Analysis
    12.5.    Porter’s Five Forces
        12.5.1.    Buyer Power
        12.5.2.    Supplier Power
        12.5.3.    Threat of New entrants
        12.5.4.    Threat of Substitutes
        12.5.5.    Industry Rivalry
13.    Industry Best Practices
    13.1.    Sourcing Strategy
    13.2.    Procurement Model
    13.3.    Contract Structure
    13.4.    Negotiation Levers
    13.5.    Pricing Model
    13.6.    Key Factors Influencing the Quotation 
14.    Key Supplier Analysis
    14.1.    Archer Daniels Midland (ADM) Company
    14.2.    Cargill Inc.
    14.3.    Ingredion Inc.
    14.4.    Tate & Lyle Plc
    14.5.    Roquette Freres

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Key Questions Answered in the Report

The global corn market size was valued at 1177.25 MMT in 2021.

As per the applications provided, the animal feed segment is anticipated to lead the market between the period 2022 - 2027.

The significant demand for animal products is one of the essential drivers of the corn market growth.

Archer Daniels Midland Company, Cargill Inc., Ingredion Inc., Tate & Lyle Plc, Roquette Frères, Tereos SA are some of the key companies in the market.

The North American region holds a significant share in the market.

Analyst Review

The global corn market attained a value of 1177.25 MMT in 2021, driven by the rising prevalence of meat consumption. Corn has been a critical ingredient in virtually every compound feed for ruminants, poultry, swine, leading to higher demand. It is also becoming more frequently employed in end-use industries like corn starch, sorbitol etc., which has a wide range of applications. Aided by the product's plentiful supply and low manufacturing costs and the government's favourable policies, as well as rising FDI flows for both pharmaceuticals and personal care goods, the market is expected to witness further growth in the forecast period of 2022-2027, growing at a CAGR of 5.3%. The market is projected to reach 1604.87 MMT by 2027.

Procurement Resources’ detailed research approach explores deep into the industry, encompassing the macro and micro aspects of the industry. Its team of experts uses a combination of cutting-edge analytical tools and their expertise thus, delivering its customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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