The global Corn Oil market is expected to reach USD 8.83 Billion by 2027, according to a new report by Reports and Data. The growth of the market is attributed to the increasing demand from end-use applications. The increasing demand for corn oil in food applications is a major factor driving the growth of the market. Corn oil comprises a significant amount of ubiquinone and large amounts of vitamin E that provides protection from oxidative rancidity. It is commonly used as a salad and cooking oil.
Surging use of corn oil in the pharmaceutical industry is likely to fuel the growth of the market in the upcoming years. It is used in pharmaceutical preparations as a drug molecule carrier. Corn oil supplementation is considered an inexpensive and effective way to enhance the protective functionality of equine glandular gastric mucosa.
Additionally, corn oil finds application in several industries in the production of products, including salve, soap, paint, inks, rustproofing for metal surfaces, nitroglycerin, textiles, and insecticides.
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Key participants include Archer Daniels Midland Company, Cargill Inc., Associated British Food PLC, The Adani Wilmar Ltd., Grief Inc., Ruchi Soya Industries, Bunge Limited, Borges International Group SLU, Marico Limited, and GreenField Specialty Alcohols Inc., among others.
Further key findings from the report suggest:
- By product type, edible corn oil contributed to a larger market share in 2018. The growing demand for corn oil in a broad range of food and pharmaceutical application is causative of the high demand for this product type.
- By distribution channel, the offline distribution channel dominated the market in 2018 and is projected to grow at a rate of 7.4% in the forecast period. Offline channel is the most preferred channel for distribution as it includes the opportunity for customers to create personal connections with business, which is beneficial in building loyalty.
- By application, biodiesel applications are expected to witness the fastest growth rate of 9.2% in the period 2019-2027. Corn oil is a significant source of biodiesel, and with an improvement in corn oil refining technology, it will turn into a greater source of biodiesel.
- The market in the Asia Pacific region is projected to grow at the fastest rate of 9.5% in the forecast period, owing to a huge population in countries in the region, as well as an increase in demand of corn oil in the food industry.
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Product Type Outlook (Volume, Kilo Tons; 2016-2027 and Revenue, USD Million; 2016-2027)
Distribution Channel Outlook (Volume, Kilo Tons; 2016-2027 and Revenue, USD Million; 2016-2027)
Application Outlook (Volume, Kilo Tons; 2016-2027 and Revenue, USD Million; 2016-2027)
Regional Outlook (Volume, Kilo Tons; 2016-2027 and Revenue, USD Million; 2016-2027)
- North America
- Asia Pacific
- Latin America
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Objective of Studies:
- To provide detailed analysis of the market structure along with forecast of the various segments and sub-segments of the global Corn Oil market.
- To provide insights about factors affecting the market growth. To analyze the Corn Oil market based on various factors- price analysis, supply chain analysis, Porte five force analysis etc.
- To provide historical and forecast revenue of the market segments and sub-segments with respect to four main geographies and their countries- North America, Europe, Asia, Latin America and Rest of the World.
- To provide country level analysis of the market with respect to the current market size and future prospective.
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