Market Size of maize seed Industry
| Icons | Lable | Value |
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Study Period | 2017 - 2030 |
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Market Size (2024) | USD 24.08 Billion |
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Market Size (2030) | USD 33.19 Billion |
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Largest Share by Breeding Technology | Hybrids |
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CAGR (2024 - 2030) | 5.49 % |
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Largest Share by Region | North America |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
Maize Seed Market Analysis
The Maize Seed Market size is estimated at 24.08 billion USD in 2024, and is expected to reach 33.19 billion USD by 2030, growing at a CAGR of 5.49% during the forecast period (2024-2030).
24.08 Billion
Market Size in 2024 (USD)
33.19 Billion
Market Size in 2030 (USD)
4.40 %
CAGR (2017-2023)
5.49 %
CAGR (2024-2030)
Largest Market by Breeding Technology
90.81 %
value share, Hybrids, 2023
There is an increase in the demand for hybrid seeds due to higher productivity, wider adaptability, and a high degree of resistance to biotic and abiotic stresses.
Largest Market by Country
42.36 %
value share, United States, 2023
The United States is the largest country because of an increase in exports, the leading producer of corn, and an increase in the demand for biofuel extraction.
Fastest-growing Market by Breeding Technology
5.76 %
Projected CAGR, Open Pollinated Varieties & Hybrid Derivatives, 2024-2030
Open-pollinated varieties require fewer inputs, such as fertilizers and pesticides, are less expensive than hybrid seeds, and are more affordable for low-income farmers.
Fastest-growing Market by Country
11.51 %
Projected CAGR, Saudi Arabia, 2024-2030
Saudi Arabia is the fastest-growing country due to the increase in the adoption of improved seeds, the increase in market prices, and the demand from the neighboring countries for ethanol.
Leading Market Player
29.79 %
market share, Bayer AG, 2022
The company has made extensive product innovations and partnerships. It also launched its next generation of corn rootworm (CRW) trait technology and herbicide-tolerant seeds.
Hybrids dominate the global maize seed market due to increased adoption by farmers and the growing approvals of transgenic hybrids in major producing countries
- In 2022, hybrids held a significant share of 90.8% of the global maize seed market by value, which increased by 20.8% between 2017 and 2022. This is because the demand for hybrids is increasing in line with the growth in the availability of a variety of traits in maize.
- In 2022, open-pollinated varieties and hybrid derivatives accounted for only 9.2% of the global maize seed market by value. In North America, the United States dominated, accounting for 89.5% of the regional OPV seed market, followed by Mexico with a 6.8% market share.
- Non-transgenic hybrids accounted for 41.9% of the global maize seed market by value in 2022, which increased by 10.6% between 2017 and 2022. This is because of growing consumer demand for food products perceived as natural and free from genetically modified organisms (GMOs). Additionally, some countries have strict regulations regarding the use and labeling of GMOs. This has led to increased interest in non-transgenic seeds.
- Transgenic hybrids are estimated to grow, registering a CAGR of 6.6% during the forecast period. The increased yield potential and reduced input costs associated with transgenic crops can lead to an increase in the adoption of these traits.
- The herbicide-tolerant corn seed segment accounted for the majority of the transgenic corn seed market because weeds reduce crop production and affect growers' profits by 30-40%, owing to crop damage.
- In South America, the usage of hybrids is 100%. GM maize hybrids were fully approved by the major producing countries in the region and insect- and herbicide-resistant corn seeds are widely available across the region.
- The increasing availability of a variety of traits in hybrids and the growing adoption of hybrids by farmers are estimated to drive the segment during the forecast period.
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North America dominated the global maize seed market due to higher area under cultivation and higher adoption of transgenic hybrids
- In 2022, maize seeds represented a significant portion of the global grain and cereal seeds market, with a 65.0% share. The maize seed market is anticipated to grow by 26.5% during the forecast period, fueled by the rising adoption of high-yielding maize varieties, the crop's role as a primary food source, and escalating demand from the livestock industry.
- North America, led by the United States, held the largest share of the global maize seed market in 2022. The country alone accounted for 39.6% of the market's value, benefiting from its high corn productivity per acre, owing to the widespread adoption of hybrids and genetically modified (GM) corn.
- Asia-Pacific was the second-largest maize seed market. The major countries in the region are China and India, which together accounted for 26.2% of the global maize seed market in 2022. The acreage under corn cultivation in China was 42.4 million ha in 2017, which increased to 43.7 million ha in 2022. The increase in area and production was mainly driven by the increased yield due to the usage of improved cultivars in the country. This advancement in cultivar development has led to a surge in seed demand across the region.
- France emerged as the leader in Europe's maize seed market, capturing 3.6% of the global share. This share is steadily rising, driven by an expanding sowing area and a growing preference for commercial seeds.
- During the forecast period, the maize seed market's growth is expected to be propelled by the increasing availability of high-yielding varieties and private companies' focus on developing stress-tolerant and disease-resistant strains.
