The global corn market was valued at USD 297.27 billion in 2023 and is projected to reach USD 377.27 billion by 2030, growing at a CAGR of 3.6% from 2024 to 2030. Corn is a key component of the global agricultural industry and serves multiple purposes, including food, animal feed, and industrial applications such as ethanol production.
Corn is an essential dietary staple, with a significant portion of global production used for human consumption in the form of food products, sweeteners, and cooking oils. A large share is also used as animal feed, providing nutrition for livestock such as chickens, cattle, and swine.
Key Market Trends & Insights
- Asia Pacific held the largest market share of 37.6% in 2023.
- By nature, the conventional corn segment accounted for the largest revenue share of around 96.0% in 2023.
- By end use, the B2B segment contributed the largest revenue share in 2023.
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Market Size & Forecast
- 2023 Market Size: USD 297.27 Billion
- 2030 Projected Market Size: USD 377.27 Billion
- CAGR (2024-2030): 3.6%
- Asia Pacific: Largest market in 2023
Competitive Landscape
Some of the key players operating in the market include China National Cereals, Oils and Foodstuffs Corporation (COFCO); Archer-Daniels-Midland (ADM); and Cargill, Inc.
- China National Cereals, Oils and Foodstuffs Corporation (COFCO) is a leading food and agriculture multinational corporation headquartered in China. It is one of the largest food companies in the world, with operations in over 160 countries and territories.
- Archer-Daniels-Midland (ADM) is an American multinational food and agriculture corporation headquartered in Chicago, Illinois. It is the world's largest agricultural processor and food ingredient provider.
- Cargill, Incorporated is an American multinational corporation that specializes in trading, processing, and distribution of agricultural products and commodities.
Scoular and Adani Wilmar are some of the emerging market participants in the global corn market.
- Scoular has expanded its operations into new markets around the world, including China, India, and Brazil.
- Adani Wilmar is an emerging player in the global edible oil and agri-business industry. The company has a strong presence in India and Indonesia, and it is expanding its operations into other markets around the world.
Key Players Include:
- China National Cereals, Oils and Foodstuffs Corporation (COFCO)
- Archer-Daniels-Midland (ADM)
- Cargill, Inc.
- CHS Inc.
- Bunge Limited
- Monsanto
- Corteva Agriscience
- Adani Wilmar
- Agrium Inc.
- Scoular
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Conclusion
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