Market Trends of maize seed Industry
The Asia-Pacific dominates global maize cultivation due to favorable market prices and conducive geographical conditions
- Maize is the most versatile cereal crop known for its adaptability, diverse types, and wide-ranging use. It is the second most cultivated crop globally, mainly in tropical, sand subtropical, and temperate climates. Its global cultivation encompasses various types, including field corn, sweet corn, popcorn, and baby corn. In 2022, maize production crossed 1.21 billion metric ton, spread across 208.9 million hectares in over 170 countries, with an average yield of 5.87 metric ton. Driven by a growing global population and rising incomes, the demand for maize for human consumption and livestock feed has surged. This surge has prompted farmers to expand their maize cultivation areas, resulting in a 5.5% increase in acreage between 2017 and 2022.
- Asia-Pacific dominates global corn production, accounting for 32.4% of the global maize cultivation area in 2022. This marked a 0.9% increase from 2017 to 2022. Corn has the highest acreage in the region, with the region's expansion of maize cultivation area fueled by favorable market prices and the promise of profitability.
- In 2022, North America accounted for the second-largest maize cultivation acreage, with a dedicated 45.6 million hectares. This represented a 3.3% increase over the historic period. The surge in access to global markets and the demand for corn from international buyers were key drivers behind this expansion. Between 2017 and 2022, Europe witnessed a notable rise in maize cultivation area, from 18.1 million to 21.1 million hectares. This uptick was particularly pronounced in the spring of 2021, buoyed by favorable weather conditions in major maize-producing nations and a price rise.
- Therefore, favorable climatic conditions and market prices are estimated to drive the expansion of maize cultivation globally.
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Drought tolerance, disease resistance, and wider adaptability are the major traits being purchased by farmers for meeting the global corn production demand
- The United States, Mexico, and China are key global players in corn production. This crop holds significant value for growers, given its high profitability and the demand for specific traits. Growers seek traits like weed control, enhanced grain quality, early maturity, lodging tolerance, disease resistance (e.g., leaf curl, early rots), and wider adaptability to diverse agro-climatic conditions. Notably, companies like Bayer AG, KWS SAAT SE & KGaA, and Syngenta are offering traits that combat early rots and leaf diseases and boost productivity. These traits are in high demand as no other sprays or alternatives effectively tackle these diseases. Additionally, traits like color, height, and grain count per cob are favored by growers in the Asia-Pacific.
- Growers also prioritize traits like insect resistance and adaptability to safeguard against prevalent pests like moths (e.g., cutworms, armyworms, and borers) and beetles (e.g., grubs and weevils). They also value traits that enable off-season growth and adaptability to diverse soil conditions. Notable product brands like Winfield and Deklab offer corn varieties with these traits. In Europe, there is a rising demand for lodging-resistant varieties, as they can withstand adverse weather conditions and minimize crop losses. Corteva Agriscience's offerings, such as P7179 and P7326, are known for their enhanced standability in strong winds.
- Challenges like water scarcity due to climatic conditions, pests, and diseases impacting corn growth are expected to drive the introduction of new seed varieties and fuel market growth in the coming years.
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OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- Transgenic corn hybrids hold a high share globally for their higher yield and ease of cultivation due to their resistance to pests and weeds
