A moderate expansion has been estimated for the global corn oil market over the forecast period (2017-2022), according to a new study published by Fact.MR. Corn oil has been increasingly adopted as feedstock for biodiesel production, and used for producing hydrogenated oil. Revenues from sales of corn oil across the globe will reach roughly US$ 3,500 Mn by 2022-end.
Several regulatory authorities have imposed stricter rules in order to lower the carbon footprint. This has propelled demand for biofuels across the globe, which in turn is estimated to drive demand for corn oil. Corn oil finds cooking as one of the major applications, coupled with textile production, pharmaceutical preparations, soap manufacturing, and paints. Corn oil processors are now concentrating more on blending with olive oil, and rice bran oil, which provides recommended levels of polyunsaturated as well as monounsaturated fatty acids. This ensures excellent stability in taste and flavor of food. Leading players in the global corn oil market are tapping into corn producing places for increasing their productivity and gaining higher profits.
Spotlight on high quality products of food has initiated R&D activities for developing and promoting healthy food supply. Quality of product has become crucial in agricultural sector. With its number of health benefits, corn oil is gaining popularity among consumers and manufacturers since recent past. Corn oil is an indispensable value added product when derived from the remnants of the embryo/germ, and extraction of starch from the kernel’s endosperm. Extraction of corn oil is expected to enhance the economic as well as the commercial value of discarded embryo. Corn oil possesses various therapeutic properties, and so is vulnerable for numerous applications. These factors will influence growth of the global market for corn oil in the near future.
8 Key Takeaways from the Global Corn Oil Market Research Report by Fact.MR
- In terms of revenues, Europe is anticipated to remain dominant in the global corn oil market, with sales anticipated to register a steady growth through 2022.
- APEJ will continue to be the second most lucrative market for corn oil during 2017 to 2022.
- The markets for corn oil in Japan, and North America will continue to register a sluggish growth through 2022.
- Modern trade will remain the most lucrative distribution channel in the global market for corn oil. Corn oil sales in modern trade are expected to exceed US$ 1,000 Mn in revenues by 2022-end.
- Corn oil sales in specialty stores are expected to exhibit the highest CAGR, which in turn will make specialty stores the second largest distribution channel in the market by 2022-end.
- Processed corn oil is anticipated to remain preferred product among consumers in the global market. Revenues from processed corn oil sales are estimated to hold more than three-fourth market share during 2017-2022.
- Based on end-users, the retail segment will continue to be dominant in the global corn oil market, with sales poised to witness fastest expansion through 2022.
- Key players mentioned in Fact.MR’s report on the global market for corn oil include Bunge Limited, Archer Daniels Midland Company, The Adani Wilmar Ltd., Cargill Inc., Grief Inc. (Olympic Oils Limited), Associated British Foods plc, Ruchi Soya Industries Limited, Borges International Group S.L.U., and Marico Limited.
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