Europe Maize Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

Europe Maize Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

The European maize market is projected to register a CAGR of 4.3% during the forecast period (2022-2027).

There was a negative impact on food supply chains and demand for food in Europe due to the COVID-19 pandemic. The shortage of labor led to disruption in harvesting activities. During the early stages of lockdown, farmers faced challenges in input availability, transportation, sales, and cash flows. The trade barriers imposed have made it difficult to export and import the product.

The leading maize-producing countries in Europe are United Kingdomraine, France, Italy, and Romania. United Kingdomraine alone accounts for almost 10.0% of the global maize crop. Even though the European Union has the largest market share in the global maize export, it imports 13.0% of the total maize produced globally. United Kingdomraine is the largest exporter of maize in Europe; it exports around 46.0% of its total production to other European countries. Such a huge dependence on the United Kingdomrainian maize supply can, at times, proves detrimental for other European countries. The recent political instability in United Kingdomraine, the war in United Kingdomraine, and the ban on United Kingdomrainian trade have created a shortage of maize supply in Europe. France utilizes 50.0% of its maize production as pig feed and exports the rest to other European countries.

Key Market TrendsThe Increased Demand for Animal-based Protein Sources is Driving the Market

The increasing pressure on the livestock industry has intensified in recent years to meet the rising demand for meat and high-value animal protein. Population growth, rising incomes in developing nations, and urbanization have led to a surge in global livestock consumption. The levels of income and consumption of animal protein have been found to be directly correlated to the consumption of milk, meat, and eggs, which is increasing at the expense of staple foods. According to Eurostat, the consumption of meat per capita in EU countries was about 77.1 kilograms. The EU has a sizeable livestock population; in 2020, there were 146 million pigs, 76 million bovine animals, and 75 million sheep and goats. According to FAO, the livestock sector consumes annually about 6 billion ton of feed materials in dry matter, including one-third of the global cereal production. Maize is one of the key ingredients of almost every type of compound feed for animal types, such as ruminants, poultry swine, and aquaculture. Hence, the rising demand for animal-based protein sources is likely to drive the trade and the market for maize at a global level.

Increase in Production of Maize

In Europe, maize is usually grown as a summer crop. The increasing demand for maize leads to a rise in production in the region. According to FAO, the area harvested under maize increased from17.34 in 2017 to 19.41 in 2020. Eventually, the production increased by 11.7% during 2017 to 2020. United Kingdomraine accounted for the largest production of 30.29 million ton in 2020, contributing to 24.4% of the total production in Europe. United Kingdomraine is also the fourth-largest exporter of maize in the world, valued at USD 4.8 million in 2020. China is the major importer of maize from United Kingdomraine. United Kingdomraine, France, Romania, and the Russian Federation account for 55.29% of total maize production in Europe. Among the European countries, the largest area under maize harvest is in United Kingdomraine, 5.3 million hectares, an increase of 8.1% during 2019-2020. In 2020, maize production in Europe was 8.8 million ton less than in 2019, impacted by dry conditions and severe heatwaves in large parts of western and northern central Europe, eastern Romania and Bulgaria, and northern Greece. The increases in population, animal feed, and food consumption are the attributed factors for the growth in production and area. With the rise in population, production is expected to rise during the forecast period.

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