Market Size of Europe Maize Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 3.28 % |
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Europe Maize Market Analysis
The Europe Maize Market size is estimated at USD 34.85 billion in 2023, and is expected to reach USD 40.95 billion by 2028, growing at a CAGR of 3.28% during the forecast period (2023-2028).
- Maize has a broad range of industrial applications such as food processing and ethanol production. The market has changed drastically over the past decade due to the rapid increase in production owing to the development of biotechnological advancement in the grain. As per the Eurostat, Europe harvested grain maize that reportedly increased to 196.9 million metric ton in 2021 from 192.8 million in 2020, which reflects the higher apparent yields. The overall increase at the level of the European Union was mainly due to a strong rebound in the harvested productions in Romania (+46.8 %) and France (+14.5 %).
- The leading maize-producing countries in Europe are Ukraine, France, Italy, and Romania. Ukraine alone accounts for almost 10.0% of the global maize crop. The rapid rise of the livestock industry and the commercial compound feed industry is driving the demand for maize in the region owing to higher nutrition in terms of protein requirement for feeding livestock. Moreover, the increasing health awareness has resulted in a rising preference for the protein-rich diet which is increasing demand for grains including maize, thus driving the growth of Europe maize market.
- According to the USDA report, Ukraine corn production for marketing year 2022 was estimated at 27.0 million metric ton, down 14 percent from November 2022 and 36 percent from the 2021. The crop yield was estimated at 6.75 ton per hectare, down 4 percent from November 2022 and 12 percent from the year 2021. In addition, the harvested area is estimated at 4.0 million hectares, with lower 27 percent from last year.
- The French National Federation of Maize and Sorghum Seed Production (F.N.P.S.M.S.) has increased the area of maize in the spring of 2020 throughout Europe. In the European Union, it was estimated to have gone up 3 percent, reaching 15,3 million hectares, of which 9 million hectares of grain maize (+ 3 percent) and 6.3 million hectares of feed maize (+ 2 percent) in France.
