Corn Oil Market Size, Industry Overview, Key Players, Growth Factors And Forecast 2024-2032

(MENAFN- IMARC Group) IMARC Group, a leading market research company, has recently releases report titled
Corn Oil Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032 ”,
The study provides a detailed analysis of the industry, including the global
corn oil market
size, share, trends, and growth forecast. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights:

How big is the corn oil market?

The global corn oil market size reached US$ 6.1 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 11.2 Billion by 2032, exhibiting a growth rate (CAGR) of 6.8% during 2024-2032.

Factors Affecting the Growth of the Corn Oil Industry:

Health Benefits and Nutritional Value:

The growth of the corn oil market is significantly influenced by the perceived health benefits and nutritional value of corn oil. Rich in essential fatty acids, vitamins, and phytosterols, corn oil is often marketed as a heart-healthy cooking oil option. Its ability to lower blood cholesterol levels, combined with a high smoke point that makes it suitable for various cooking methods, appeals to health-conscious consumers. Additionally, the presence of antioxidants and its relatively low saturated fat content compared to other cooking oils enhance its attractiveness to those seeking healthier dietary choices.

Wide Range of Applications in Food Industry:

Corn oil's versatility in the food industry is another major factor driving its market growth. It is extensively used in cooking, frying, baking, and as a salad dressing due to its mild taste and high smoke point. Furthermore, corn oil is a common ingredient in many processed foods, such as margarine, mayonnaise, and snack foods. Its functionality as both a cooking medium and a flavor enhancer makes it a popular choice in both home kitchens and commercial food production.

Growing Demand from the Biofuel Industry:

The increasing use of corn oil in the production of biofuels, particularly biodiesel, is a significant driver of its market growth. As global efforts to find renewable and environmentally friendly energy sources intensify, corn oil has emerged as a viable feedstock for biofuel production. This is due to its relatively low cost and high availability. The expanding biofuel sector, driven by environmental concerns and government policies promoting sustainable energy, is thus contributing to the rising demand for corn oil, not just in the food industry but also in the energy sector.

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Corn Oil Market Report Segmentation:

Breakup By Product Type:

  • Edible
  • Non-Edible

Edible corn oil dominates the product type segment in the global corn oil market due to its widespread use in cooking and food preparation, favored for its health benefits and versatility in various culinary applications.

Breakup By Application:

  • Food
  • Biofuel
  • Industrial
  • Others

The food industry emerges as the largest application segment in the market, as corn oil is extensively used in cooking, frying, baking, and as an ingredient in processed foods, owing to its neutral flavor and high smoke point.

Breakup By Distribution Channel:

  • Supermarkets and Hypermarkets
  • Convenience Stores
  • Departmental Stores
  • Others

Supermarkets and hypermarkets constitute the largest distribution channel segment in the market, offering consumers a wide variety of corn oil brands and products under one roof, along with the convenience of easy accessibility and price comparison.

Breakup By Region:

  • North America (United States, Canada)
  • Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
  • Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
  • Latin America (Brazil, Mexico, Others)
  • Middle East and Africa (United Arab Emirates, Saudi Arabia, Turkey, South Africa, Others)

North America holds the largest market share in the global corn oil market, attributed to the region's large corn production, high consumer awareness about the health benefits of corn oil, and the widespread use of corn oil in the food and biofuel industries.

Global Corn Oil Market Trends:

The rising consumer preference for healthier cooking oils represents one of the key factors influencing the growth of the corn oil market across the globe. This is primarily due to its heart-healthy properties, such as being high in polyunsaturated fatty acids and low in saturated fats, which is boosting the market growth. This health-driven demand is particularly strong among consumers looking to manage cholesterol levels and heart health.

The market is witnessing an increased application of corn oil in processed food products, driven by its neutral flavor and high smoke point, making it ideal for frying and baking. In addition to this, there's a growing trend towards organic and non-GMO corn oil, as consumers become more health-conscious and environmentally aware. The use of corn oil in the cosmetics and personal care industry is also on the rise, due to its moisturizing properties.

Leading Companies Operating in the Global Corn Oil Industry:

  • Archer Daniels Midland Company
  • ACH Food Companies
  • Cargill
  • Abu Dhabi Vegetable Oil Company
  • Elburg Global
  • ConAgra
  • Savola Group, etc.

If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.

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