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Global Corn Oil Market to reach USD 9.14 billion by the end of 2029

Global Corn Oil Market Size study & Forecast, by Type (Edible, Non-edible) by Application (Food & Beverage, Pharmaceuticals, Cosmetics & Personal Care, Industrial, Others) and Regional Analysis, 2022-2029

Product Code: OIRFB-73211134
Publish Date: 10-04-2023
Page: 200

Global Corn Oil Market is valued at approximately USD 5.34 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 6.95% over the forecast period 2022-2029. Corn oil or maize oil is a vegetable oil that is made from corn germs. It is typically used as cooking oil due to its anti-inflammatory qualities, high smoke point, and unsaturated fatty acids. The product is one of the essential basic materials used to make ethanol. Additionally, it is gaining high traction across various sectors, such as animal feed, cosmetics, and pharmaceuticals. The surge in demand for non-GMO and fortified products, rising usage of corn oil across various industries, coupled with the change in consumer preferences towards healthier lifestyles are the primary factors that are propelling the market demand across the globe.

The rising number of government initiative in order to reduce carbon footprint is bolstering the consumption of corn oil as biodiesel, which, in turn, excels the market growth worldwide. For instance, in 2020, China aimed to adopt a 10% biofuel use as per the “Implementation Plan Regarding the Expansion of Ethanol Production and Promotion for Transportation Fuel” programme, the National Energy Administration (NEA), National Development and Reform Commission (NDRC), and other ministries proposed this implementation. Additionally, China is increasingly producing biodiesel every year. The National Energy Administration (NEA) estimates that biodiesel output increased by more than 54% from 2020 to 2021, reaching 1.7 billion litres. Furthermore, The U.S. Department of Agriculture estimates that Brazil’s ethanol production is likely to reach 31.35 billion litres in 2022. According to the International Energy Agency (IEA), Brazil and the United States produce approximately 84% of the world’s biodiesel. Hence, these aforementioned factors are likely to augment the market expansion at a considerable growth rate. Moreover, rising innovations in optimal corn oil extraction, as well as the surge in consumer awareness regarding the advantages of corn oil are presenting various lucrative opportunities over the forecasting years. However, the availability of substitute oils and fluctuations in the product price are hampering the market growth throughout the forecast period of 2022-2029.

The key regions considered for the Global Corn Oil Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America dominated the market in terms of revenue, owing to the surging demand for green fuels, along with the rising increasing applications of the product in feedstocks and food industries. Whereas, the Asia Pacific is expected to grow with the highest CAGR during the forecast period, owing to factors such as the government policies to reduce carbon footprint in Asian countries, as well as increasing initiatives to encourage biofuel consumption and increase biofuel production in the market space.

Major market players included in this report are:
Abu Dhabi Vegetable Oil Company LLC.
Archer-Daniels-Midland Company
Associated British Foods
Bluecraft Agro
Cargill Inc.
Grain Processing Corporation
Greenfield Specialty Alcohols
Ingredion Incorporated
Richardson International
Roquette Frères

Recent Developments in the Market:
 In August 2022, I.C.M. Inc signed a contract with Impacto Energia S/A and its sister company, Impacto Bioenergia, a Brazil-based energy company. According to the contract, both companies agreed to construct a new dry-mill ethanol production facility in the Brazilian states of Bahia and with an anticipated start date of Q1 2025. With I.C.M.’s exclusive Base Tricanter System, Selective Milling Technology, and Fiber Separation Technology, the new factory is set up to grind 1,700 metric tonnes of maize per day. Nine thousand metric tonnes of corn oil could be recovered at the biorefinery.

Global Corn Oil Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Type, Application, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Type:
Edible
Non-edible
By Application:
Food & Beverage
Pharmaceuticals
Cosmetics & Personal Care
Industrial
Others

By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
RoLA
Rest of the World

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2019-2029 (USD Billion)
1.2.1. Corn Oil Market, by Region, 2019-2029 (USD Billion)
1.2.2. Corn Oil Market, by Type, 2019-2029 (USD Billion)
1.2.3. Corn Oil Market, by Application, 2019-2029 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Corn Oil Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Corn Oil Market Dynamics
3.1. Corn Oil Market Impact Analysis (2019-2029)
3.1.1. Market Drivers
3.1.1.1. Surge in demand for non-GMO and fortified products
3.1.1.2. Rising number of government initiative to reduce carbon footprint
3.1.2. Market Challenges
3.1.2.1. Availability of substitute oils
3.1.2.2. Fluctuations in the product price
3.1.3. Market Opportunities
3.1.3.1. Rising innovations in optimal corn oil extraction
3.1.3.2. Surge in consumer awareness regarding the advantages of corn oil
Chapter 4. Global Corn Oil Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Futuristic Approach to Porter’s 5 Force Model (2019-2029)
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. Industry Experts Prospective
4.7. Analyst Recommendation & Conclusion
Chapter 5. Risk Assessment: COVID-19 Impact
5.1. Assessment of the overall impact of COVID-19 on the industry
5.2. Pre COVID-19 and post COVID-19 Market scenario
Chapter 6. Global Corn Oil Market, by Type
6.1. Market Snapshot
6.2. Global Corn Oil Market by Type, Performance – Potential Analysis
6.3. Global Corn Oil Market Estimates & Forecasts by Type 2019-2029 (USD Billion)
6.4. Corn Oil Market, Sub Segment Analysis
6.4.1. Edible
6.4.2. Non-edible
Chapter 7. Global Corn Oil Market, by Application
7.1. Market Snapshot
7.2. Global Corn Oil Market by Application, Performance – Potential Analysis
7.3. Global Corn Oil Market Estimates & Forecasts by Application 2019-2029 (USD Billion)
7.4. Corn Oil Market, Sub Segment Analysis
7.4.1. Food & Beverage
7.4.2. Pharmaceuticals
7.4.3. Cosmetics & Personal Care
7.4.4. Industrial
7.4.5. Others
Chapter 8. Global Corn Oil Market, Regional Analysis
8.1. Corn Oil Market, Regional Market Snapshot
8.2. North America Corn Oil Market
8.2.1. U.S. Corn Oil Market
8.2.1.1. Type breakdown estimates & forecasts, 2019-2029
8.2.1.2. Application breakdown estimates & forecasts, 2019-2029
8.2.2. Canada Corn Oil Market
8.3. Europe Corn Oil Market Snapshot
8.3.1. U.K. Corn Oil Market
8.3.2. Germany Corn Oil Market
8.3.3. France Corn Oil Market
8.3.4. Spain Corn Oil Market
8.3.5. Italy Corn Oil Market
8.3.6. Rest of Europe Corn Oil Market
8.4. Asia-Pacific Corn Oil Market Snapshot
8.4.1. China Corn Oil Market
8.4.2. India Corn Oil Market
8.4.3. Japan Corn Oil Market
8.4.4. Australia Corn Oil Market
8.4.5. South Korea Corn Oil Market
8.4.6. Rest of Asia Pacific Corn Oil Market
8.5. Latin America Corn Oil Market Snapshot
8.5.1. Brazil Corn Oil Market
8.5.2. Mexico Corn Oil Market
8.5.3. Rest of Latin America Corn Oil Market
8.6. Rest of The World Corn Oil Market

Chapter 9. Competitive Intelligence
9.1. Top Market Strategies
9.2. Company Profiles
9.2.1. Abu Dhabi Vegetable Oil Company LLC
9.2.1.1. Key Information
9.2.1.2. Overview
9.2.1.3. Financial (Subject to Data Availability)
9.2.1.4. Product Summary
9.2.1.5. Recent Developments
9.2.2. Archer-Daniels-Midland Company
9.2.3. Associated British Foods
9.2.4. Bluecraft Agro
9.2.5. Cargill Inc.
9.2.6. Grain Processing Corporation
9.2.7. Greenfield Specialty Alcohols
9.2.8. Ingredion Incorporated
9.2.9. Richardson International
9.2.10. Roquette Frères
Chapter 10. Research Process
10.1. Research Process
10.1.1. Data Mining
10.1.2. Analysis
10.1.3. Market Estimation
10.1.4. Validation
10.1.5. Publishing
10.2. Research Attributes
10.3. Research Assumption

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Data Collection:
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Market Size Estimation:
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In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
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