Bangladesh Corn Oil Market Driven by Rising Focus on Health and Fitness

Transparency Market Research (TMR) offers a 10-year forecast for the Bangladesh corn oil market between 2016 and 2026. In terms of value, the market is expected to register a CAGR of 1.8% during the forecast period (2016–2026). The main objective of the report is to offer insights on the advancements in the corn oil market. The study demonstrates market dynamics that are expected to influence the current environment and future status of the Bangladesh corn oil market over the forecast period. The report aims to offer updates on trends, drivers, restraints, value forecasts, and opportunities for manufacturers operating in the Bangladesh corn oil market. 

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Factors such as increasing health consciousness, hygiene awareness, changing dietary habits and living standards and easy availability of grains are expected to fuel revenue growth of the Bangladesh corn oil market. Fewer players in specific corn oil market, lack of product innovation and increasing demand in developing economies are the several opportunities existing in Bangladesh corn oil market. In the country increased industrial usage of corn oil for various application as well as rising preferences of corn oil for manufacturing biodiesel are expected to support growth of the corn oil market in Bangladesh during the forecast period. 

A section of the report discusses how the overall competition in the market is steadily increasing. It discusses various factors shaping the internal as well as external competition in the market. Overall internal competition in the Bangladesh corn oil market is observed to be comparatively high owing to a large number of major providers of corn oil products and increasing number of small domestic players in the market. The Bangladesh corn oil industry is facing external competition from producers & distributors, which are adopting forward and backward integration strategies, and developing their own facilities to produce corn oil. Various barriers to entry in the industry are analyzed and rated on the basis of their impact on the competition level in the market. 

Fewer players in specific corn oil market, lack of product innovation and increasing demand in developing economies are the several opportunities existing in Bangladesh corn oil market. In the country increased industrial usage of corn oil for various application as well as rising preferences of corn oil for manufacturing biodiesel are expected to support growth of the corn oil market in Bangladesh during the forecast period.

In the final section of the report, a competitive landscape has been included to provide report audiences with a dashboard view. Key categories of providers covered in the report are corn oil suppliers, manufacturers, and a list of major retailers and raw material suppliers. Detailed profiles of the providers are also included in the scope of the report to evaluate their long- and short-term strategies, key offerings, and recent developments in the corn oil space. Key players in the Bangladesh corn oil market report include Adani Wilmar Ltd, Associated British Foods plc, American Vegetable Oils, Inc and Olympic Oils Ltd.

Bangladesh Corn Oil Market to Expand with a CAGR of 5.9% due to Increasing Usage of Corn Oil as Edible Oil

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.

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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.

Bangladesh Corn Oil Market Value Chain and Forecast 2016-2026

Corn oil is an increasingly competitive market in Bangladesh, with a number of external as well as internal factors shaping the overall scenario. Transparency Market Research has observed that the intense internal competition in the corn oil market in Bangladesh is owing to the presence of a number of large international as well as small domestic providers. These include Adani Wilmar Ltd, Associated British Foods plc, American Vegetable Oils, Inc., and Olympic Oils Ltd.

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External competition in this market is presented by producers and distributors. These elements have been noted to adopt forward and backward integration strategies and develop their own facilities to produce corn oil.

In terms of value, the Bangladesh corn oil market was valued at US$167,073 in 2015 and is expected to reach US$202,072 by 2026. If these values hold true, the market is expected to expand at a CAGR of 1.8% during the forecast period.

Livestock Emerges as Leading End-use Segment in Bangladesh Corn Oil Market

On the basis of type, the corn oil market in Bangladesh is bifurcated into edible and non-edible. Among these, non-edible corn oil is expected to account for dominant share of 71.4% by the end of 2016. On the other hand, edible corn oil is forecast to exhibit the highest CAGR of 2.1% between 2016 and 2026.

Based on end use, the Bangladesh corn oil market comprises food service restaurants, food processors, retail, livestock, and pharmaceuticals. By the end of 2016, livestock is expected to account for a value share of 34.9%, emerging as the leading end-use segment. However, the industrial segment is expected to register a growth rate higher than any other category, reporting a 2.5% CAGR from 2016 to 2026.

Rising Focus on Health and Fitness Boosting Growth

One of the most significant factors boosting the consumption of corn oil across Bangladesh is the changing dietary habits and improving living standards of the consumers, which can be attributed to the rise in disposable income. “Just like consumers in European and North American countries, consumers in Bangladesh are exhibiting a shift in demand toward less processed foods,” the author of the report states. “Growing health concerns and rising awareness about the benefits of switching to healthier edible oils such as olive oil, corn oil, rice bran oil, and blended oil have upped the demand for as well as consumption of corn oil.”

In addition to this, the corn oil market in Bangladesh is poised to be driven by the easy availability of grains and a higher profit margin for farmers and the overall food sector.

Low-key Branding and Promotional Activities Restricting Sales

The existence of an unorganized market, coupled with a weak distribution system, cripples the Bangladesh corn oil market. Most of the edible oil products in the country are sold in loose packets. In fact, loosely-packed edible oils account for approximately 75.0% of the overall market, with bottled edible oils accounting for the rest. “Corn oil falls in the latter category and owing to a weak distribution network for bottled edible oils, the corn oil market is likely to take a hit in the forecast period,” the lead analyst predicts.

Another factor hampering the sales of corn oil in the country is the fact that it is not used as an ingredient in traditional cooking. This can be attributed to its high price and restricted availability. In addition, low-key branding and promotional activities by manufacturers in Bangladesh is expected to hinder the growth of the corn oil market over the forecast period.

Bangladesh Corn Oil Market: Rising Focus on Health and Fitness Boosting Growth

Corn oil is an increasingly competitive market in Bangladesh, with a number of external as well as internal factors shaping the overall scenario. Transparency Market Research has observed that the intense internal competition in the corn oil market in Bangladesh is owing to the presence of a number of large international as well as small domestic providers. These include Adani Wilmar Ltd, Associated British Foods plc, American Vegetable Oils, Inc., and Olympic Oils Ltd.

External competition in this market is presented by producers and distributors. These elements have been noted to adopt forward and backward integration strategies and develop their own facilities to produce corn oil.

In terms of value, the Bangladesh corn oil market was valued at US$167,073 in 2015 and is expected to reach US$202,072 by 2026. If these values hold true, the market is expected to expand at a CAGR of 1.8% during the forecast period.

Livestock Emerges as Leading End-use Segment in Bangladesh Corn Oil Market

On the basis of type, the corn oil market in Bangladesh is bifurcated into edible and non-edible. Among these, non-edible corn oil is expected to account for dominant share of 71.4% by the end of 2016. On the other hand, edible corn oil is forecast to exhibit the highest CAGR of 2.1% between 2016 and 2026.

Based on end use, the Bangladesh corn oil market comprises food service restaurants, food processors, retail, livestock, and pharmaceuticals. By the end of 2016, livestock is expected to account for a value share of 34.9%, emerging as the leading end-use segment. However, the industrial segment is expected to register a growth rate higher than any other category, reporting a 2.5% CAGR from 2016 to 2026.

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Rising Focus on Health and Fitness Boosting Growth

One of the most significant factors boosting the consumption of corn oil across Bangladesh is the changing dietary habits and improving living standards of the consumers, which can be attributed to the rise in disposable income. “Just like consumers in European and North American countries, consumers in Bangladesh are exhibiting a shift in demand toward less processed foods,” the author of the report states. “Growing health concerns and rising awareness about the benefits of switching to healthier edible oils such as olive oil, corn oil, rice bran oil, and blended oil have upped the demand for as well as consumption of corn oil.”

In addition to this, the corn oil market in Bangladesh is poised to be driven by the easy availability of grains and a higher profit margin for farmers and the overall food sector.

Low-key Branding and Promotional Activities Restricting Sales

The existence of an unorganized market, coupled with a weak distribution system, cripples the Bangladesh corn oil market. Most of the edible oil products in the country are sold in loose packets. In fact, loosely-packed edible oils account for approximately 75.0% of the overall market, with bottled edible oils accounting for the rest. “Corn oil falls in the latter category and owing to a weak distribution network for bottled edible oils, the corn oil market is likely to take a hit in the forecast period,” the lead analyst predicts.

Another factor hampering the sales of corn oil in the country is the fact that it is not used as an ingredient in traditional cooking. This can be attributed to its high price and restricted availability. In addition, low-key branding and promotional activities by manufacturers in Bangladesh is expected to hinder the growth of the corn oil market over the forecast period.

This review is based on the findings of a TMR report titled “Corn Oil Market - Bangladesh Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2026"

Bangladesh Corn Oil Market, by Product Type

• Edible Corn Oil
• Non-edible Corn Oil

Bangladesh Corn Oil Market, by End Use

• Food Service Restaurants
• Retail
• Pharmaceutical Industry
• Food Processors
• Livestock

Corn Oil Market Emboldened for Exalted Growth by Demand for Carbon Footprint Narrowing Biodiesel Alternative

The global corn oil market has been prophesied to be boosted by the upswing demand for the product as a reliable and efficient alternative to biodiesel which can be used to ensure a cutback in carbon footprint. In a report authored by Transparency Market Research (TMR), titled “Corn Oil Market - Global Industry Analysis, Size, Share, Trends, and Forecast 2016 - 2024,” the market growth has been expected to be supported by the unchallenging availability of raw material sold at a cheaper price since corn is grown widely across the globe. The analysts have also unveiled key segments of the market in respect of end user, type, distribution channel, and geography.

The world corn oil market could invite a propelling demand on account of the need to treat cardiovascular diseases and hypertension in people with high blood pressure. Moreover, corn oil is studied to be an essential element to support immune function as it provides omega-6 and other essential fatty acids. Geographical regions such as California in the U.S. have been predicted to find an extensive application of corn oil due to their government standards of low carbon fuel usage. According to distribution channel, grocery stores could produce a decent level of demand in the market because of the soaring penetration of health food in smaller grocery outlets. However, hypermarkets and supermarkets have been anticipated to clutch a significant market share.

Germany followed by the U.K. could rake in a handsome growth on the back of a rising consumption rate to become one of the major markets for corn oil in Europe. Consequently, Europe has been prognosticated to be crowned as a leading region in the international corn oil market, also due to the rising consumer preference shifting toward healthy food products. On the basis of consumption, the U.S. could drive the North America market for a favorable growth. Owing to the surging demand for corn oil in the food sector, Asia Pacific has been envisaged to expand swiftly to become a faster growing region in the market.

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YONCA GIDA SAN. A.S., GreenField Specialty Alcohols Inc., Associated British Food plc, FEC Solutions, ConAgra Foods Inc., and Archer Daniels Midland Company are the crucial players that could be leading the global corn oil market. Along with their strategies and key product offerings, each of the players has been expansively evaluated in the report to gauge the competitive landscape of the market. Buyers of this publication can become familiar with the current as well as future trends and projections of the market vital for ensuring a tangible growth in the industry.

Corn Oil Market: Low Cost and Easy Availability of Corn to Accelerate Growth

A research study by Transparency Market Research (TMR) offers a detailed analysis of the global corn oil market. The study, titled “Corn Oil Market - Global Industry Analysis, Size, Share, Trends and Forecast 2016–2024,” provides a thorough overview, focusing on the key growth drivers, challenges, and the latest trends in the market. In addition, the product segmentation, technological developments, geographical segmentation, key applications, and the competitive scenario of the global corn oil market have been discussed in the scope of the research report.

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Corn oil is being used extensively worldwide for manufacturing hydrogenated oil and as a cooking medium across the food industry. As corn is one of the most widely grown crop, the easy availability of raw material at a comparatively low price is one of the major factors anticipated to fuel the growth of the overall market in the coming few years. In addition, the growing popularity of corn oil as a biodiesel alternative is anticipated to encourage the growth of the global corn oil market in the forecast period.

On the basis of product type, the global corn oil market can be classified into non-edible corn oil and edible corn oil. Among these types, the non-edible segment is projected to lead the global corn oil market and account for a massive share in the forecast period. The high growth of this segment can be attributed to its low rating for carbon intensity in comparison with other biodiesel feed stock. On the other hand, the edible corn oil segment is likely to witness significant growth in the next few years.

On the basis of geography, the global corn oil market can be categorized into Asia Pacific, Europe, North America, and the Rest of the World. Among these regions, Europe is projected to lead the global corn oil market and account for a key share of the market. Furthermore, Asia Pacific and North America are estimated to grow at a progressive rate in the near future. The rising demand from the food industry is the key factor propelling the growth of the corn oil market across the globe.

Some of the key players operating in the global corn oil market are Archer Daniels Midland Company, GreenField Specialty Alcohols Inc., FEC Solutions, ConAgra Foods Inc., Associated British Food plc, and YONCA GIDA. The increasing focus of key players on expansion of application base is likely to contribute towards market growth. The research study has provided an in-depth vendor analysis, providing insights into the company profiles, product portfolio, financial status, latest developments, SWOT analysis, and business strategies.

Corn Oil Maret:Share, Development and Trend 2016-2024

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

Some of the key players operation in corn oil market includes FEC Solutions, Associated British Food plc, GreenField Specialty Alcohols Inc., YONCA GIDA SAN. A.?., Archer Daniels Midland Company and ConAgra Foods Inc among others.