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.
The report includes an extensive study of manufacturers, strategic initiatives adopted by major companies, growth prospects, market position, and shares held by key participants to provide readers a comprehensive overview of the competitive landscape. The report also studies strategic initiatives undertaken by major companies in the market, including product launches, product innovation, and technological development, to strengthen their position in the market.
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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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For the purpose of this report, Reports and Data have segmented the global corn oil market on the basis of product type, distribution channel, application, and region:
Product Type Outlook (Volume, Kilo Tons; 2016-2027 and Revenue, USD Million; 2016-2027)
- Edible
- Non-Edible
Distribution Channel Outlook (Volume, Kilo Tons; 2016-2027 and Revenue, USD Million; 2016-2027)
- Online
- Offline
Application Outlook (Volume, Kilo Tons; 2016-2027 and Revenue, USD Million; 2016-2027)
- Food
- Biodiesel
- Retail
- Pharmaceutical
- Others
Regional Outlook (Volume, Kilo Tons; 2016-2027 and Revenue, USD Million; 2016-2027)
- North America
- U.S
- Europe
- U.K
- Others
- Asia Pacific
- China
- India
- Japan
- Latin America
- Brazil
- MEA
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Identifying the basic business drivers, challenges, and tactics adopted:
- The report provides intrinsic details and fluctuating aspects that influence the commercial dynamics of the Corn Oil market along with integral factors of the rise in the demand for the product have been mapped across vital geographical regions.
- An overview of the multifarious applications, business areas and the latest trends observed in the industry has been laid out by this study.
- Various challenges overlooking the business and the numerous strategies employed by the industry players for successful marketing of the product have also been illustrated.
- The research inspects the sales channels (indirect, direct, marketing) that companies have chosen for the primary product distributors and the superior clientele of the market.
Thank you for reading this article. You can also get chapter-wise sections or region-wise report coverage for North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
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