IMARC Group, a leading market research company, has recently released a report titled “Corn Oil Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global corn oil market share, size, trends, and growth forecasts. 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$ 5.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 8.9 Billion by 2028, exhibiting a growth rate (CAGR) of 7.85% during 2023-2028.
What is Corn Oil?
Derived from the germ of corn kernels, corn is a type of vegetable oil extracted through crushing, pressing, and refining corn seeds. It is primarily used for cooking and frying due to its mild flavour, high smoke point, and nutritional profile. Corn oil possesses several characteristics that make it a popular choice in culinary applications as it has a light texture and a relatively neutral taste, allowing it to complement a wide range of dishes without overpowering the flavours. Its high smoke point, typically around 450°F (232°C), makes it suitable for high-temperature cooking methods like deep-frying, sautéing, and stir-frying. Corn oil is also known for its long shelf life and stability due to its low levels of polyunsaturated fatty acids. At present, corn oil finds extensive applications in the food and beverage, pharmaceuticals, and textile industries.
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What are the Growth Prospects and Trends in the Corn Oil Industry?
The rising awareness regarding numerous health advantages associated with the consumption of corn oil, such as reduced cholesterol levels and improved heart health, represents one of the key factors driving the market growth. Moreover, corn oil is a popular choice for the cooking and frying due to its neutral flavour, high smoke point, and versatility, which is contributing to the market growth. The expanding food industry, including restaurants, fast-food chains, and food manufacturers, is creating the demand for corn oil as a key ingredient in various food products, which is contributing to the market growth. The preference for lighter and milder cooking oils among consumers is acting as another major growth-inducing factor. The increasing use of corn oil in food processing, such as baking, frying, and salad dressings is fostering the market growth. The incorporation of corn oil in various functional foods and numerous nutraceutical products offering significant health benefits is further boosting the market growth. The increasing consumer preference for natural and plant-based ingredients in food products is creating the demand for corn oil as a healthier cooking option, which is leading the market toward growth. The easy availability of corn oil across various distribution channels, such as retail stores, supermarkets, and online platforms, is increasing its accessibility, thereby contributing to the market growth. Effective marketing strategies, product promotions, and consumer education campaigns highlighting the benefits of corn oil are stimulating the market growth positively. The market is also being driven by the increasing utilization of corn oil in non-food applications, such as biodiesel production, animal feed, and other related industrial applications. Other factors, such as increasing partnerships and collaborations among the key players, extensive domestic consumption and international trade of corn oil, and rising health and wellness trends, along with escalating concerns regarding environmental conservation and sustainable development, are creating a positive outlook for the market across the globe.
Who are the Key Players Operating in the Corn Oil Market?
The report has also analysed the competitive landscape of the global corn oil market. Some of the leading players include.
- Archer Daniels Midland Company (ADM)
- ACH Food Companies
- Cargill
- Abu Dhabi Vegetable Oil Company (ADVOC)
- Elburg Global
- ConAgra
- Savola Group
What is Included in Market Segmentation?
The report has categorized the market based on product type, application, distribution channel and region
Breakup by Product Type:
- Edible
- Non-Edible
Market by Application:
- Food
- Biofuel
- Industrial
- Others
Based on Distribution Channel:
- Supermarkets and Hypermarkets
- Convenience Stores
- Departmental Stores
- Others
Regional Insights:
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
Key Highlights of The Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you 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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