The United States maize market is projected to register a CAGR of 4.1% during the forecast period(2020-2025). The growing meat industry is creating a demand for more cereals, especially for maize as it is highly nutritious in terms of protein is used for feeding the livestock. A wide range of industrial applications and growing export markets is driving the maize market in the country during the forecast period. While the number of field farms for corn has declined in recent years, the acreage per corn farm has increased. According to the Food and Agriculture Organisation (FAO), in 2016, the area under maize production was 35.1 million ha which decreased to 33 million ha in 2018. Whereas the maize yield accounted for 117,433 hg/ha in 2016 has increased to 118639 hg/ha in 2018.
Key Market Trends
Various Industrial Application of Maize
Most of the maize consumed in the region is used as the main energy ingredient for livestock feed. Maize is also used in processing into a wide range of food and industrial products including cereals, alcohol, Syrup, sweeteners, and byproduct feed. With the wide range of applications of maize in the various industries, demand for maize is projected to grow during the forecast period. According to the United States Department of Agriculture (USDA), in 2019, the industrial use of maize accounted for 6792.58 million bushels which have seen a slight decline from the previous year which accounted for 7056.80 million bushels in 2018. Also, corn is the primary United States feed grain, accounting for more than 95 percent of total feed grain production and use. The growing various industrial application will further drive the market during the study period.
Rising Export is Driving the Market
The United States of America is one of the largest producers of the maize, according to the Food and Agriculture Organisation (FAO), in 2018, the United States maize production accounted for 34.2% of the total global production. In 2018, the United States produced 392.4 million metric tons of maize as compared to 396.4 million metric tons in 2017. According to ITC Trade, the USA in 2018 exported maize which accounted for USD 12577.3 million with a share of 40.6% of the global total export. Mexico, Japan, Columbia, and Korea are the major export destinations for the United States maize. In 2018, Mexico and Japan shared the import of 24.5% and 22.4% of the total maize exported from the United States.
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