Myanmar Maize Seed Market Size (2024 - 2029)

The Myanmar corn market is poised for growth, driven by the significant role of maize as a cereal crop alongside traditional staples like rice and sugar cane. The collaboration between governmental agricultural bodies and international research centers is enhancing hybrid maize production, which is crucial for the seed market's expansion. Despite challenges such as rising prices and temporary production restraints, the market's potential is bolstered by increasing maize cultivation, particularly in southern Shan, where it significantly contributes to cash incomes. The market's trajectory is supported by growing demand and export opportunities, indicating a positive outlook for the maize seed sector in Myanmar.

Market Size of Myanmar Maize Seed Industry

Single User License

$4750

Team License

$5250

Corporate License

$8750

Book before:
Myanmar Maize Seed Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Market Size (2024) USD 18.68 Million
Market Size (2029) USD 24.89 Million
CAGR (2024 - 2029) 5.90 %
Market Concentration High

Major Players

Myanmar Maize Seed Market Major Players

*Disclaimer: Major Players sorted in no particular order

setting-icon

Need a report that reflects how COVID-19 has impacted this market and its growth?

Single User License

$4750

Team License

$5250

Corporate License

$8750

Book before:

Myanmar Maize Market Analysis

The Myanmar Maize Seed Market size is estimated at USD 18.68 million in 2024, and is expected to reach USD 24.89 million by 2029, growing at a CAGR of 5.90% during the forecast period (2024-2029).

  • Even though in terms of Myanmar's main crop production, it is renowned for its production of rice, sugar cane, and dry beans, among other vegetables, maize constitutes a significant cereal crop in the country. The collaboration of the Department of Agricultural Research of the Ministry of Agriculture, Livestock, and Irrigation with the International Maize and Wheat Improvement Center in turn favors the growth of hybrid maize production and eventually the seed market. Further, the increased production of maize and the rising demand from multiple industries, coupled with the growing export potential, drive the market in the country.
  • Moreover, according to the survey conducted by the International Food Policy Research Institute in 2020, the number of maize growers in southern Shan, Myanmar, has tripled in the past 10 years, with larger landholdings being more likely to farm maize. Additionally, maize is by far the most important crop grown in the areas surveyed in terms of its contribution to cash incomes. Also, hybrid maize seed has been adopted widely in southern Shan and has been accompanied by big increases in fertilizer use.
  • However, the restraints faced in the production of maize in the country have affected the maize seed market also. Maize prices have risen in 2021, according to the Yangon Region Chambers of Commerce and Industry. The rise in prices is attributed to steady foreign demand and the weakening of local currencies against the US dollar. The price stands at USD 310-330 per metric ton in the initial months of 2022, up from USD 250 in December 2021. The maize unrest has resulted in decreased exports from the country, which has subsequently impacted domestic production and, as a result, sowing seeds. Nevertheless, such restraints remain temporary, and the market is anticipated to grow steadily in the coming years.

Myanmar Maize Industry Segmentation

Maize is a Central American cereal plant that yields large grains set in rows on a cob. The report covers maize seeds used for sowing purposes and excludes the edible and feed maize seeds. Myanmar Maize Seed Market is segmented by Type (Hybrid and Open Pollinated). The report offers the market size and forecasts in terms of value in USD thousand for the above-mentioned segments.

Type
Hybrids
Transgenic
Non-Transgenic
Open Pollinated Varieties
Need A Different Region Or Segment?
Customize Now

Myanmar Maize Seed Market Size Summary

The Myanmar corn market is experiencing a steady growth trajectory, driven by the significant role of maize as a cereal crop in the country. Despite Myanmar's prominence in rice, sugar cane, and dry bean production, maize has emerged as a crucial crop, particularly in the southern Shan region, where it contributes significantly to cash incomes. The collaboration between the Department of Agricultural Research and the International Maize and Wheat Improvement Center has bolstered hybrid maize production, enhancing the seed market's expansion. The increasing demand from various industries, coupled with rising export potential, further propels market growth. However, challenges such as fluctuating maize prices and temporary production restraints have impacted the market, though these are expected to be short-lived.

The maize seed market in Myanmar is characterized by a high concentration of key players, with Charoen Pokphand leading the market. The company, along with others like Corteva Agriscience and East-West Seed Myanmar, has adopted strategies such as joint ventures and partnerships to strengthen their market presence. The majority of maize produced is utilized for human consumption, with a significant portion also directed towards the feed industry. Myanmar's status as a net exporter of maize, particularly to countries like Thailand, the Philippines, and China, underscores its growing export capabilities. The market's development is supported by initiatives such as the construction of maize dryer machines and the introduction of drought-tolerant hybrid varieties, which aim to enhance production efficiency and meet increasing domestic and international demand.

Explore More

Myanmar Maize Seed Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

    3. 1.3 Market Restraints

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Buyers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Type

      1. 2.1.1 Hybrids

        1. 2.1.1.1 Transgenic

        2. 2.1.1.2 Non-Transgenic

      2. 2.1.2 Open Pollinated Varieties

Myanmar Maize Seed Market Size FAQs

The Myanmar Maize Seed Market size is expected to reach USD 18.68 million in 2024 and grow at a CAGR of 5.90% to reach USD 24.89 million by 2029.

In 2024, the Myanmar Maize Seed Market size is expected to reach USD 18.68 million.

Myanmar Corn Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)