South Africa Maize Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Market Size (2024) | USD 2.52 Billion |
| Market Size (2029) | USD 3.06 Billion |
| CAGR (2024 - 2029) | 4.00 % |
South Africa Maize Market Analysis
The South Africa Maize Market size is estimated at USD 2.52 billion in 2024, and is expected to reach USD 3.06 billion by 2029, growing at a CAGR of 4% during the forecast period (2024-2029).
- Maize is a cornerstone of South African agriculture, serving as a primary source of carbohydrates and one of the most extensively cultivated field crops in the country. Over 80% of corn production in South Africa relies on rainfall, with less than 20% under irrigation. The USDA Grain and Feed Annual Report 2024 states that the area under corn cultivation in the country is 3 million hectares, which is projected to increase during the coming years.
- Maize, also known as corn, is a cereal grain rich in antioxidants and ranks among the leading cereal crops in terms of production volume. The flourishing meat industry in South Africa is driving demand for cereals, including maize, due to its high protein content, making it valuable for livestock feed. According to South Africa Grain Information Services (SAGIS), the country's maize production reached 16.2 million metric tons in the 2023-2024 marketing year, representing a 6.8% increase from the previous year's 15.1 million metric tons.
- Recent initiatives are anticipated to contribute to the growth of the maize market. In January 2024, the Federal Government of Nigeria approved the commercial release of transgenic insect-resistant and drought-tolerant maize varieties, known as TELA maize. The TELA Maize Project is being implemented in five countries, including South Africa, potentially impacting the regional maize market. Hence, factors such as rising production and goverment support are anticipated to drive the market during coming years.
South Africa Maize Market Trends
Rising Demand for Maize in Food and Feed Industries
South Africa's corn consumption encompasses both white and yellow varieties. White corn serves as a staple food for many households, providing an affordable source of carbohydrates. Yellow corn, conversely, is primarily utilized in the animal feed sector, forming the main component of most feed formulations, particularly in the broiler industry. Animal feed manufacturers in the country rely heavily on corn as a key raw material.
Human consumption of corn in South Africa has been steadily increasing, driven by population growth and immigration from neighboring southern African countries. According to the South Africa Grain Information Services (SAGIS), maize consumption reached 11.7 million metric tons in the 2023-2024 marketing year, representing a 3.5% increase from the previous year. This upward trend is anticipated to continue during the forecast period, influenced by growing pressure on consumer spending and an unemployment rate exceeding 30 percent, as reported in the USDA Grain and Feed Annual Report 2024.
Animal feed production in South Africa incorporates various agricultural raw materials, with inclusion rates varying across formulations and animal species. Corn remains a crucial ingredient in this sector. The Animal Feed Manufacturers Association of South Africa reported that from April 2023 to February 2024, the volume of raw materials used in feed production included 3,153,375 metric tons of corn products, 7,336 metric tons of fishmeal, and 1,269,128 metric tons of oilcake.
Expanding Export Market
South Africa is a significant exporter of maize, particularly to neighboring countries. International demand provides a market outlet for excess production. With the growing demand for protein meals and the increasing demand from the biofuel sector, the demand for maize has further increased significantly in the international market over recent years. The country's exports of maize are increasing year on year. For instance, according to the ITC Trade Map, the country exported 3.9 million metric tons of maize in 2023 which is 6.5% more than the previous year's export volume of 3.7 million metric tons. The major importers are Taipei, South Korea, Japan, and Zimbabwe.
South Africa exports both white corn and yellow corn, in which yellow corn occupies a major share in the maize export volume in comparison to white corn. As yellow corn is used in animal feed, many countries import this yellow corn from South Africa. For instance, in the marketing year 2023-2024 (March to May), the country exported 3.0 million metric tons of which 67.6% is yellow corn and 32.4% is white corn. The major importers of white corn are Zimbabwe and Botswana, while the major importers of yellow corn are South Korea and Japan as reported by South Africa Grain Information Services (SAGIS). Hence the rising production of maize in South Africa accompanied with strong international demand is anticipated to catalyze the maize exports during forecasted years.
South Africa Maize Market News
- October 2024: The Department of Rural Development and Agrarian Reform (DRDAR) in the Eastern Cape launched an R80 million cropping program to enhance food security and support smallholder farmers. This initiative, coinciding with World Food Day, aims to increase maize production and reduce dependence on imports for poultry feed. The department plans to provide farmers with production inputs and mechanization support, contributing to both food security and economic development in the region.
- June 2024: Corteva Agriscience has introduced Resicore REV, a new herbicide for corn weed control. This premix formulation effectively manages over 75 broadleaf weed species, both pre-emergence and post-emergence. Resicore REV aims to improve corn yield potential while offering enhanced handling, flexibility, and crop safety in corn-growing countries like South Africa.
South Africa Maize Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rising Demand for Maize in Food and Feed Industries
4.2.2 Expanding Export Market
4.2.3 Increasing Government Initiatives
4.3 Market Restraints
4.3.1 Incidence of Pest and Disease
4.3.2 Increasing Labor Shortages and Costs
5. MARKET SEGMENTATION
5.1 Production Analysis (Volume)
5.2 Consumption Analysis (Value and Volume)
5.3 Import Analysis (Value and Volume)
5.4 Export Analysis (Value and Volume)
5.5 Price Trend Analysis
6. REGIONAL ANALYSIS
6.1 PESTLE Analysis
6.2 Value/Supply Chain Analysis
6.3 Government Regulations and Policies
7. COMPETITVE LANDSCAPE
7.1 Distribution Network and Retail Analysis
7.2 List of Distributors/Traders
8. MARKET OPPORTUNITIES AND FUTURE TRENDS
South Africa Maize Industry Segmentation
Maize, also known as corn, is a tall grain crop that produces yellow kernels on elongated ears. The South African maize market study encompasses both domestic and international trade. This report analyzes production (volume), consumption (value and volume), export (value and volume), import (value and volume), and wholesale price trends. It provides market estimations and forecasts in both value in USD and volume in metric tons.
South Africa Maize Market Research Faqs
How big is the South Africa Maize Market?
The South Africa Maize Market size is expected to reach USD 2.52 billion in 2024 and grow at a CAGR of 4% to reach USD 3.06 billion by 2029.
What is the current South Africa Maize Market size?
In 2024, the South Africa Maize Market size is expected to reach USD 2.52 billion.
What years does this South Africa Maize Market cover, and what was the market size in 2023?
In 2023, the South Africa Maize Market size was estimated at USD 2.42 billion. The report covers the South Africa Maize Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the South Africa Maize Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
South Africa Maize Industry Report
Statistics for the 2024 Maize in South Africa market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Maize in South Africa analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
South Africa Maize Market Report Snapshots
