Nov 13, 2019

Increased Use in Convenience Foods Sustains Growth of Sweet Corn Seed Market

by Team Fact.MR

According to a new write up by Fact.MR, the global market of sweet corn seeds is estimated to grow at a sluggish CAGR of ~ 3.7% during 2017-2026, and likely to continue with its multibillion dollar revenue levels through the forecast period. Sweet corn has become an increasingly unattractive option in terms of use in animal feed. In addition, the rapid proliferation of alternatives, and the easy accessibility to fossil fuels has reduced the role in the production of biofuels.

As a food product, sweet corn has become a very popular ingredient, which can be attributed to increased global awareness about the taste and health benefits from sweet corn. Sweet corn seeds are a result of a genetic mutation, in conventional maize plants. The genetic mutation accounts for the conversion of starch into sugars within the corn kernels. The source of the genetic mutation can divide all sweet corn crops either into GMO or Non-GMO variants.

Lifestyle Changes and Inclusion in Convenience Foods Supports Growth

Apart from health awareness factors, the global sweet corn market is also on the rise owing to substantial changes in consumer lifestyles, which has resulted in the increased popularity of ready to cook products like sweet corn.

Rapid advancements in genetic engineering technology and has resulted in a wider variety of crops that provide higher quality products and superior yield quantities as well. The new products are expected to attract a large number of new customers. Favorable economic prices and faster product availability is expected to help in bolstering the growth of revenue in the sweet corn seed market.

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Processed Sweet Corn Gains Traction to Combat Seasonal Availability

Fresh sweet corn is largely sold in daily markets, owing to its seasonal nature. However, the rising year round demand for the product has resulted in producers investing in processing infrastructure, which enables an all year supply for sweet corn on a global scale. Processed products are largely marketed through contracts with a number of industry brokers.

Processing plants produce private label, branded products. Consequently, as is the trend in the field of agribusiness, merger and consolidation activity has become fairly common, which can be attributed to the increased fluidity of organizational structure relevant to ownership. Although most producers are choosing to wait for the harvest of fully grown sweet corn, a substantially smaller market of fully edible unhusked baby corn is also rising across the global sweet corn industry. However, continued opposition to genetically modified foods over health concerns is restricting global GMO sweet corn product sales.

Sweet Corn Seed Market: Competitive Landscape

The write up by Fact.MR has scrutinized a number of key players operating businesses in the sweet corn seeds market which include America Seed Co., Monsanto, Dow AgroSciences, DuPont Pioneer, Limagrain, Syngenta, KWS, Bayer CropScience, and Sakata Seed among others. All of these market participants are focusing their efforts on strengthening distribution networks, and promoting use in the food service industry.