Overview
Corn
is one of the most popular feed, food and industrial cereal. Corn
flour, corn oil, popcorn, corn syrup, corn soap are some of the most
common corn products consumed worldwide. Corn oil is primarily used
as a cooking medium in food industry and for manufacturing
hydrogenated oil. In 2013, corn oil was the fastest growing feedstock
for biodiesel production in the world. Corn is one of the most widely
grown crop. Thus easy availability of raw material at lower price is
supporting the market growth across the globe.
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Corn
Oil Market Segmentation
Corn
oil market has been segmented on the basis of Edible and non-edible
corn oil. Among both of these segment non edible segment is expected
to show robust growth over the forecast period. This is supported by
the reason that corn oil is highly environmental friendly product as
it has lowest rating for carbon intensity as compared to other
biodiesel feed stocks which is driving the segment growth. Edible
segment is expected to show substantial growth in terms of volume.
Edible segment is further sub segmented as food service restaurants,
food processor, and retail (end consumers). Among all these segment
retail segment is expected to occupy the major market share. Rising
cardiovascular diseases has shifted the consumer focus towards
consumption of food containing low cholesterol which is expected to
drive the segment growth in the near future. Moreover, food processor
segment is expected to account for substantial growth over the
forecast period. Consumers are now focusing on healthy lifestyle, due
to this they carefully choose the products they buy and use. In
addition, easy access to information has made them aware about the
availability of different types of oils and fats in the market. Thus,
now food processors are trying to respond to consumer demand by
offering stable and healthy products.
Corn
Oil Regional Outlook
Global
corn oil market is also segmented on the basis of distribution
channel. The distribution channel is only segmented for retail (end
consumers). The distribution channel for retail includes supermarket,
hypermarket, departmental stores & grocery stores. Among all
these segments hypermarket & supermarket is expected to
contribute major share in the market. Groceries stores is expected to
show a favorable growth over the forecast period. Increasing
penetration of health food in smaller grocery stores is expected to
support the segment growth over the forecast period.
Geographically,
Europe is expected to be the major market in terms of value for corn
oils, owing to increasing consumer towards healthy products. Among
the countries, Germany is expected to remain major markets in terms
of consumptions for corn
oil followed by U.K. North America is expected to represent the
favorable market for corn oils in terms of consumption. U.S. is
expected to drive the growth. Increasing consumption of corn oil as a
biodiesel alternative is expected to support the market growth in the
country. Asia Pacific is expected to grow rapidly and expected to be
the fastest growing region for corn oil owning increasing in demand
of corn oil in food industry across the region.
Corn
Oil Market Drivers
Increasing
consumption of corn oil as a biodiesel alternative in order to reduce
carbon footprint is expected to support the demand of corn oil during
the forecast period. Moreover, increasing government regulation
especially important in states with low carbon fuels standards such
as California is further expected to support the market demand.
Furthermore, corn oil provides essential fatty acids like linoleic
acid (omega – 6) which is essential for immune function, as well as
it enables to lower high blood pressure in people who are suffering
from hypertension which is expected to fuel the market growth in the
near future.
Corn
Oil Market Key Players
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