Transparency Market Research (TMR)
observe that the Bangladesh corn oil market is increasingly competitive due to
presence of numerous local and international players and influence of intense
internal competition. Some of the key players operating in the global corn oil
market include Adani Wilmar Ltd, American Vegetable Oils, Inc., Associated
British Foods plc, and Olympic Oils Ltd. The high competition among some of the producers and distributors are leading o adoption forward
and backward integration strategies to emerge as a service provider or
facilitate the production of corn oil by own.
Request to view Sample Report:
TMR anticipated
the revenue of the Bangladesh corn oil market was registered at US$167,073 in
2015 and expected to expand with a CAGR of 1.8% over the forecast period from
2016 to 2026 to attain value of nearly US$202,072 by the end of 2026. On the
basis of product type, non-edible segment account for the share of nearly equal
to 71.4% owing to increasing usage of corn oil as fuel and alternative for
other fuel. On the basis of end use, livestock accounted for major share and
expected to remain dominant with more than 34.9% share.
Corn oil has both
edible and non-edible applications globally while Bangladesh is one of the
major consumer and importer of the edible oil. Growing demand for edible oil is
creating lucrative opportunities in the local market in Bangladesh for coil
oil. These opportunities are attracting players to invest for improving their
production capacity and distribution channel. This local production activities
are encouraged by government as these activities makes the country independent
and reduces the import which is immensely beneficial for the corn oil market in
the country.
Additionally,
along with changing eating habits in the regions such as North America and
Europe, these habits are changing in the Asia Pacific. Changing eating habits
couple with improving living standards especially in Bangladesh is augmenting
demand for healthier edible oils such as olive oil, rice bran oil, and corn
oil. This increasing demand is driving growth of the corn
oil market in Bangladesh. Furthermore, increasing disposable income has
encouraged adoption of the corn oil which is driving growth of the corn oil
market.
In addition, easy
availability of grains and corn couple with high profit margin for farmers and
food sector is boosting growth of the corn oil market. Despite of these growth
opportunities, factors such as unorganized market, weak distribution channels,
and sale of loose packing oil are hampering growth of the corn oil market.
Additionally, lack of proper knowledge due to low branding and advertising
activities are crimping growth of the corn oil market.
No comments:
Post a Comment