In the base year of 2021 the global corn market size was valued around 1177.25 MMT. The CAGR at which the industry is propelling forward is 5.3%. The global corn market share during the forecast period of 2022-2027 is anticipated to be 1604.87 MMT.
July 14, 2022 - The persisting temperatures over Europe are affecting the crops in a crucial pollination time span, risking the loss of corn harvest in the area and propelling the corn import.
August 3, 2022 - On Wednesday, inspectors embarked on their route to depart Ukraine as its neighbouring nation Russia swarmed the place after the ship docked off Istanbul.
Officials from Ukraine, Russia, Turkey and the U.N. were supposed to ensure that the shipment contained grain as per the accord that was signed the previous month by Kyiv and Moscow to clear the agricultural exports of Ukraine and aid the food crisis worldwide.
August 3, 2022 - Approximately 55,000 tonnes of corn was bought from the traders in South Africa by Taiwan’s MFIG. The corn was bought to be used as animal feed and supplied by an international tender finalised on Wednesday.
The seeds of any fully grown yearly cereal grass are called corn. It is utilised for livestock feed as well as an essential food product for human consumption. It finds application as a biofuel and can be used to make several valuable chemicals. Commercially, the product classification is based on the texture of the kernel and is among the top three vegetarian food sources worldwide.
Corn has the highest rate of production compared to other crops. It finds applications as animal feed, food products for consumption and making ethanol. It is employed in industrial along with food applications. The processing of the product results in four primary compounds; oil, starch, protein, and fibre.
For human consumption, the dry and wet milling processes are used. During the dry process, corn is cleared and milled by hammer to a ground corn consistency. It is combined with water to obtain a temperature and pH-controlled slurry. Enzymes are included in starting a hydrolysis procedure to achieve dextrin from corn starch. This method is called liquefaction.
After the completion of the process, the corn mash is cooked to get rid of any bacteria. Next, the fermentation process is followed by drying and, lastly, milling.
During wet milling, the cleaning and loading of corn are done. After being loaded into tanks, the product is kept in a temperature-controlled diluted solution for around two days, and the product goes through a steeping process.
As a result of the process, the kernels are softened and absorb nutrients. Afterwards, the germ is extracted while the liquid is wet milled. Later stages of the process include drying and milling.
The dry by-product is fed to the mill to reduce the size by volume. The final size of the end product is defined by the impact hammer type, rotor speed, and the opening screen size at the base of the grinding chamber. The flour obtained from corn production is heavily used to make snacks like tortillas and corn chips.
The growing applications of the commodity for numerous end-uses are driving the market's growth. It is used to produce corn starch that is added to food applications. The corn is also utilised to make making paper, sweeteners etc. Sorbitol is extensively used in end-user industries like pharma products and personal care as it is easily available and does not require a lot of initial investment, which aids the industry development Corn is employed for making ethanol which is furthering the market demand. This is impacting the corn market rate.
There is a growing rise in the number of health-conscious individuals, which is creating extensive demand for the product as it is used to enhance gut health, and minimise the risk of ailments like heart diseases, diabetes etc., thus resulting in the industry's growth. The product's addition to animal feed significantly contributes to the industry's expansion. Furthermore, the policies by the government that favour the market are likely to assist market growth.
Derivatives of corn, especially the Polyethylene Furanoate (PEF) sort, are produced from completely sustainable materials and perform better than ordinary packaging and their capability to retain moisture and provide a barrier against carbon dioxide. As a result, the pet food inside it remains fresh.
Owing to the fact that corn starch can exceed the properties of paper barriers, it is being employed to make bags for pet food. In addition, the materials made from corn can replace petroleum-based packaging as they are biodegradable. Thus, the new developments and rising penetration of the commodity in the pet food industry would positively impact the farmer's livelihood.
At the end of the growing season, corn is susceptible to viruses by germs present in plants. Most of the contamination results from pathogens that persevere in crops or soil. Therefore, the high risk associated with corn can limit the market.
The Procurement industry report offers a complete overview of the current corn market trends. The information provided comprises various segments in the market. The application segment in the industry is categorised into Food, Feed & Residual, Industrial, and Seed.
The industry’s regional division can be done by Latin America, Africa, Europe, Asia Pacific, North America, and the Middle East. Cargill Inc., Tate & Lyle Plc, Tereos SA, Archer Daniels Midland Company, Roquette Frères, and Ingredion Inc. among others are the major players catering to the industry.
The U.S. feed grain production has been improved in 2022. The output in the United States was boosted by 45 million bushels due to expanded acres. The outcome stays intact, resulting in 14,505 million bushels.
The most prioritised grain in the U.S. is corn which accounts for around 95 percent of feed grain use and output. Additional 90 million acres of land was reserved for harvesting corn, with most of it growing in the Heartland region. The United States plays a critical role in the corn trade globally, exporting approximately10-20 percent of the corn produced to other countries.
The feed and the residual segment are equivalent to the total supply deducting other uses of the product subtracted ending stocks. The one aspect affecting the segment is the price of corn. Economically, the use of corn in feed would diminish if prices of corn ascended.
Cargill Inc. - Cargill is a leading provider of industrial and financial, agriculture, and food products to consumers worldwide. It caters to consumers and communities in over 70 nations. Around 155,000 employees work every day to accomplish a safe, consistent, and sustainable atmosphere.
Tate & Lyle Plc - The company is a leading provider of ingredient solutions for healthy food and beverages.
Tereos SA - Tereos Internacional SA functions as an agribusiness company in brazil. Their product range includes ethanol, starch-based products, sugar, and alcohol.
Archer Daniels Midland Company- The company's goal is to deliver a wide range of ingredients to fulfil consumer preferences with a focus on sustainability. They lead in animal and human nourishment and are also an exclusive agrarian origination and processing company on a global scale. Their market insights make them experts in the health and wellness and food and beverage industries. The enterprise is based in Chicago, Illinois and unites harvests to markets over six continents.
Roquette Frères - The company's profile is based on agricultural products. Products like wheat, peas, corn etc., are served to consumers globally.
1. Executive Summary
2. Global Corn Market Snapshot
2.1. Corn Market Outlook
2.2. Corn Industry Analysis by Application
2.2.2. Food, Seed and Industrial
2.3. Country Overview
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
The total value of the corn market price was calculated to be around 1177.25 MMT.
The industry is advancing at a CAGR of 5.3%.
The industry is predicted to accomplish an overall value of 1604.87 MMT by 2027.
The product’s application in the feed and residual segment is dominating the corn market outlook.
Cargill IncTate & Lyle Plc, Tereos SA, Archer Daniels Midland Company, Roquette Frères, and Ingredion Inc. are the leading companies focusing on market growth.
Latin America, Africa, Europe, Asia Pacific, North America, and the Middle East are the area focused for the industry report.
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.
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