Newark, June 15, 2023 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 5.9 billion in 2022 corn oil market will reach USD 11.7 billion by 2032. Corn oil is a kind of oil produced from corn seeds. The substance is commonly used as cooking oil since it has several beneficial characteristics, such as a high smoke point, anti-inflammatory effects, and unsaturated fatty acids. In the food, drug, and cosmetics industries, maize oil is widely used. The bulk of maize oil is produced by the mechanical or chemical extraction of oil from corn kernel bacteria. The top three nations that manufacture corn oil are Argentina, China, and the US. Corn oil is used for frying, salad dressings, margarine, mayonnaise, and cooking. It is also used to produce biodiesel and as an alternative source of animal feed.
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Key Insight of the Corn Oil Market
Asia Pacific is anticipated to expand at the fastest CAGR of 8.6% over the projection period.
Asia Pacific is expected to grow at the fastest CAGR of 8.6% over the forecast period. A significant and expanding population is found in the Asia Pacific region, which also includes developing nations like China and India. The need for processed and convenient products, which frequently use corn oil, rises as disposable incomes grow and lifestyles change. Asia Pacific consumers are looking for better cooking oil choices due to rising health and wellness awareness. In comparison to conventional cooking oils like palm oil, corn oil is seen to be a healthier option because of its higher amount of essential fatty acids and lower level of saturated fat. The rising demand for corn oil in the region is a result of this trend.
In the corn oil market, the edible oil segment is anticipated to expand at the highest CAGR of 9.2% over the projection period.
The edible oil segment is anticipated to expand at the highest CAGR of 9.2% over the projection period. Frequently utilized as a cooking oil, corn oil has many different culinary uses. It is appropriate for a variety of culinary techniques, including frying, sautéing, roasting, and grilling, due to its neutral flavor and high smoke point. Because of its mild flavor, it goes well with a variety of foods and cuisines. To assure the quality and purity of the oil, several processing and refining procedures, including mechanical pressing, extraction with solvent, and refining processes, are used in the manufacturing of corn oil. These techniques help corn oil to remain stable and consistent as an edible oil.
In the corn oil market, the food and beverages segment is anticipated to expand at the highest CAGR of 8.5% over the projection period.
The food and beverages segment is anticipated to expand at the highest CAGR of 8.5% over the projection period. Mayonnaise, salad dressings, and other condiments frequently use corn oil as an ingredient. It acts as a thickener giving these items a creamy and smooth texture. Corn oil's neutral taste makes it easy for it to combine with other components in sauces and dressings. In the bread and confectionery industries, corn oil is used. Cakes, biscuits, pastries, and other baked items can be made with them. The consistency and moisture level of baked goods is improved by corn oil, which raises their level of quality and freshness.
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Market Dynamics
Driver
Regarding the nutrition of cattle and poultry, corn oil is utilized as a feedstock. Animal diets offer a concentrated supply of energy and vital fatty acids. The need for corn oil in the animal feed sector rises along with the increase in demand for meat and other animal products on a worldwide scale. Additionally, the demand for food goods is driven by an expanding worldwide population, particularly in developing nations. Due to its many uses and versatility in the food business, corn oil is in higher demand.
Opportunity
Emerging markets provide the corn oil industry with enormous growth potential, especially in Asia and North America. The market for convenience and processed foods made with corn oil is rising in these regions due to rapid urbanization, rising disposable incomes, and shifting dietary preferences. For the corn oil market, ongoing innovation in product development may present new prospects. This involves offering value-added goods like flavored or specialty corn oils or corn oil-based goods created for particular culinary uses that are infused with herbs or spices.
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Some of the major players operating in the corn oil market 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.
Key Segments cover in the market:
By Type
• Non-Edible
• Edible
By Application
• Pharmaceuticals
• Cosmetics and personal care
• Food and Beverages
• Animal Feed
• Industrial
• Biodiesel
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About the report:
The market is analyzed based on value (USD Billion). All the segments have been analyzed. The report analyses driving factors, opportunities, restraints, and challenges to gain critical market insight. The study includes Porter's five forces model, attractiveness analysis, Product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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