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