Maize
is a food and feed crop. The maize or corn oil is used for cooking
purpose as well as in bio-fuel. In addition, the by-product is used
as fertilizer and animal feed. Due to its diversified uses, the
demand for maize oil is rising. The oil is used for salad dressing,
as cooking oil and as a key ingredient in margarine. It is also used
in food service industries.
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The
global Maize oil market is segmented by application as household
usage, agricultural usage and industrial usage. Geographically,
market can be segmented into North America, Europe, Asia Pacific and
Rest of the World.
The
key drivers of growth in this market are greater usage of maize oil
in cooking in urban areas, demand for low-calorie oil and growing
health concerns among consumers in emerging countries. Agronomist has
developed high-oil varieties of maize or corn which is extremely low
in calorie than others and makes perfect frying oil for health
conscious people. Some of the restraining factors could be Government
regulations on labeling, manufacturing and selling of the oil.
The
Maize oil market globally is expected to grow with a significant
single digit CAGR over the period of 2013- 2019. Maize oil is easy to
digest and is beneficial to health. Health conscious people prefer
using maize
oil over other edible oils having high amount of saturated
fatty acid. With rising literacy level in emerging countries,
households are undergoing tremendous changes in consumption patterns.
Some
of the key players in Maize oil Market are RPMG, Inc., Neshiel
Chemical Pvt. Ltd., Soyyi?it Group, Cargill Inc among others.
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