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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:
By Application:
Food & Beverage
Cosmetics & Personal Care

By Region:
North America
Asia Pacific
South Korea
Latin America
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 Surge in demand for non-GMO and fortified products Rising number of government initiative to reduce carbon footprint
3.1.2. Market Challenges Availability of substitute oils Fluctuations in the product price
3.1.3. Market Opportunities Rising innovations in optimal corn oil extraction 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 Type breakdown estimates & forecasts, 2019-2029 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 Key Information Overview Financial (Subject to Data Availability) Product Summary 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

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
We are dedicated to clearly communicating the purpose and objectives of each research project in the final deliverables. Our process begins by identifying the specific problem or challenge our client wishes to address, and from there, we establish precise research questions that need to be answered. To gain a comprehensive understanding of the subject matter and identify the most relevant trends and best practices, we conduct an extensive review of existing literature, industry reports, case studies, and pertinent academic research.
Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
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.
Insight Generation & Report Presentation:
After conducting the research, our experts analyze the findings in relation to the research objectives and the specific needs of the client. They generate valuable insights and recommendations that directly address the client’s business challenges. These insights are carefully connected to the research findings to provide a comprehensive understanding.
Next, we create a well-structured research report that effectively communicates the research findings, insights, and recommendations to the client. To enhance clarity and comprehension, we utilize visual aids such as charts, graphs, and tables. These visual elements are employed to present the data in an engaging and easily understandable format, ensuring that the information is accessible and visually appealing to the client. Our aim is to deliver a clear and concise report that conveys the research findings effectively and provides actionable recommendations to meet the client’s specific needs.

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