Market Size of Brazil Maize Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 2.80 % |
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Brazil Maize Market Analysis
The Brazilian maize market is projected to register a CAGR of 2.8% over the forecast period.
- Brazil is one of the largest agriculture-based economies in the world. With a population of 200 million, according to the FAO, Brazil is one of the major producers of maize. The country produced about 88,461,943 metric ton of maize in 2021. Most of the maize consumed in Brazil is used as the main energy ingredient for livestock feed, followed by sorghum and wheat. Maize is also used in processing a wide range of food and industrial products, including cereals, alcohol, sweeteners, etc., in the country.
- Maize is the most important crop based on hybrid breeding in Brazil. The growing meat industry is creating demand for more cereals, especially maize. It is highly nutritious in terms of protein used for feeding livestock. The use of maize as animal feed due to the country's high demand for meat products is driving the market. As per several studies, Brazil has increased its farm productivity very rapidly. The country was considered the fourth-largest exporter of maize in 2021, as per the ITC Trade Map.
- Hence, with the rising usage of maize in a wide range of applications and the growing exports of maize from the country, the maize market in Brazil is anticipated to grow over the forecast period.
