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Increasing Demand For Chemical-Free Food Drives Growth In The Corn Oil Market Driving Market Acceleration in the Corn Oil Industry, 2025
Corn Oil
How Large Will the Corn Oil Market Size By 2025?
Over the previous years, the corn oil market has seen substantial growth. It is predicted to escalate from $5.73 billion in 2024 to $6.16 billion in 2025, with a 7.7% compound annual growth rate (CAGR). The surge in the historical period can be ascribed to the heightened demand for biofuels, expansion in the food processing industry, growing health consciousness, a rise in disposable income, and widespread urbanization.
How Big Is the Corn Oil Market Size Expected to Grow by 2029?
The market size of corn oil is set to experience robust expansion in the upcoming years, with projections indicating a growth to $8.19 billion by 2029, reflecting a compound annual growth rate (CAGR) of 7.4%. The projected growth during this forecast period can be linked to several factors, including a rising inclination towards organic products, its burgeoning use in biodiesel, the expansion of the pharmaceutical sector, the demand for premium edible oils, and the increasing cognizance of the benefits of healthy cooking oils. The forecast period also highlights key market trends such as a tilt towards organic and non-GMO corn oil, an uptick in biodiesel production making use of corn oil, refining technological advancements in oil production, an increased adoption of corn oil in the cosmetic sector, coupled with a surge in online sales of edible oils.
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Which Key Market Drivers Powering Corn Oil Market Expansion and Growth?
The escalating demand for food items free from chemicals is anticipated to boost the corn oil market's expansion. Foods free from chemicals are produced without employing synthetic pesticides, herbicides, or any artificial chemicals. Health-aware customer preferences, environmental issues, and policy changes towards eco-friendly agriculture facilitate the growing demand for foods devoid of chemicals. Corn oil, obtained through a natural extraction process, is extensively utilized in foods free from chemicals, offering a healthy substitute for cooking and baking. For example, as per the data released by the Organic Trade Association (OTA), a business association of the organic industry based in the US, organic food sales in America reached $61.7 billion in 2022, showcasing a 4.3% rise from $59.1 billion in 2021 and exceeding $60 billion for the very first time. Hence, the escalating demand for food items free from chemicals is propelling the corn oil market.
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Which Fast-Growing Trends Are Poised to Disrupt the Corn Oil Market?
Prominent businesses in the corn oil industry are increasingly concentrating on creating cutting-edge technologies that can enhance distillers' corn oil (DCO) into a more valuable, less contaminated product to gain a market advantage. The refining process of corn oil deploys distillation technology, which separates different constituents based on their boiling points, filtering out impurities and improving its quality for numerous culinary and industrial uses. An example of this is Trucent Inc., an American fluid separation service and technology company, which launched CORE technology in June 2022. This invention enhances corn oil extraction, offering features like user-friendly skid-mounted modules and refined centrifuges, signifying substantial technological progress. This introduction could be transformative for the corn oil market, allowing ethanol manufacturers to upgrade the quality of distillers' corn oil, leading to higher-value sales to renewable diesel refineries and thus, augmenting revenue in the flourishing renewable fuel industry.
What Are the Emerging Segments in the Corn Oil Market?
The corn oil market covered in this report is segmented -
1) By Type: Edible, Non-Edible
2) By Grade: Refined Corn Oil, Virgin Corn Oil
3) By Application: Food And Beverages, Pharmaceuticals, Cosmetics And Personal Care, Animal Feed, Industrial, Biodiesel
4) By Distribution Channel: Supermarkets And Hypermarkets, Convenience Stores, Departmental Stores, Other Distribution Channels
Subsegments:
1) By Edible: Refined Corn Oil, Unrefined Corn Oil, Blended Corn Oil, Organic Corn Oil, Flavored Corn Oil
2) By Non-Edible: Industrial Corn Oil, Biofuel (Biodiesel), Lubricants And Greases, Pharmaceuticals And Cosmetics
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Who Are the Global Leaders in the Corn Oil Market?
Major companies operating in the corn oil market are Cargill Incorporated, Archer Daniels Midland Company, Wilmar International Ltd., Bunge Limited, Associated British Foods, ConAgra Brands Inc, Ingredion Incorporated, Savola Group, IFFCO, Roquette Frères, Richardson International, ACH Food Companies Inc., Lam Soon Edible Oils Sdn. Bhd., Greenfield Global, Grain Processing Corporation, Taj Agro International, Abu Dhabi Vegetable Oil Company LLC, Henry Lamotte Oils GmbH, Saporito Foods Inc., Cairo Oil And Soap, Bluecraft Agro, Elburg Global
Which are the Top Profitable Regional Markets for the Corn Oil Industry?
North America was the largest region in the corn oil market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the corn oil market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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