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The maize oil market size is forecast to increase by USD 1.71 billion at a CAGR of 7.08% between 2023 and 2028. The market is experiencing significant growth due to increasing demand in various industries. In the cosmetics and personal care sector, maize oil is gaining popularity for its moisturizing properties and high vitamin E content. Furthermore, the use of maize oil in biofuel production is escalating, driven by the global shift towards renewable energy sources. However, the availability of substitute edible oils, such as soybean and palm oil, poses a challenge to the market growth. Despite this, the market is expected to witness steady expansion in the coming years, fueled by its versatility and unique benefits.
Maize oil, also known as corn oil, is a popular edible vegetable oil derived from maize kernels. It is rich in unsaturated fatty acids, making it a preferred choice in the production of healthy food products. The market is witnessing significant growth due to its versatility in various applications, including cooking oils, food processing, and biodiesel production. The market is experiencing increased demand due to regulatory standards mandating the use of sustainable energy solutions for energy security. Maize oil is a viable alternative to traditional cooking oils like canola oil, rice bran oil, olive oil, and groundnut oil.
Moreover, the extraction methods and refining technologies used in the production of maize oil have evolved, leading to improved quality and longer shelf life. Packaging innovations have also played a crucial role in the growth of the market. Companies are focusing on developing eco-friendly and sustainable packaging solutions to cater to the increasing demand for healthy and sustainable food products. Additionally, the market is witnessing significant investments in research and development by key players such as DuPont Nutrition and Benson Hill Biosystems, Brownseed Genetics, Mazola, Impacto Bioenergia, and Sime Darby Oils, to improve the extraction processes and refining technologies. Governmental policies promoting the use of biodiesel as a renewable energy source are also expected to boost the growth of the market. The market is expected to witness significant growth in the coming years due to the increasing demand for functional foods and emulsions in the food science industry.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
The edible segment is estimated to witness significant growth during the forecast period. The market, also known as corn oil, is witnessing substantial growth in the edible segment due to its increasing utilization in cooking applications. This trend is driven by the rising health awareness and dietary preferences for plant-based oils rich in unsaturated fats. Maize oil is recognized for its nutritional benefits, including the presence of vitamin E, a vital antioxidant. Vitamin E, a fat-soluble nutrient, is known for its anti-inflammatory and antioxidant properties that help neutralize free radicals, which are harmful to health and can increase the risk of various health issues such as heart disease, Type 2 diabetes, and certain types of cancers.
In the biofuel sector, maize oil is also used for biodiesel production, contributing to economic development and sustainable energy. The regulatory bodies, including FSSAI, have set strict standards for the extraction and processing of maize oil to ensure food safety and quality. Fluid Quip Technologies, Impacto Bioenergia, Minnedosa Ethanol, and Agri Trading are key players in the maize oil extraction and biofuel production industries. Nestle and other leading food companies use maize oil in salad dressings, frying, and baking applications. The governmental policies promoting the use of maize oil as a sustainable alternative to traditional vegetable oils and biofuels further boosts market growth.
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The edible segment was valued at USD 2.96 billion in 2018 and showed a gradual increase during the forecast period.
APAC is estimated to contribute 35% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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Maize oil, also known as corn oil, is a popular vegetable oil derived from the seeds of maize. It is rich in unsaturated fats, making it a preferred choice for healthy food consumers. DuPont Nutrition and Health, Canola oil, Rice bran oil, Olive oil, Groundnut oil, and Sime Darby Oils are major players in the vegetable oils market, with maize oil being a significant portion of their product offerings. The biofuel sector has also shown interest in maize oil as a raw material for biodiesel production. Ethanol producers, such as Impacto Bioenergia and Minnedosa Ethanol, use maize as a feedstock for ethanol fermentation.
Moreover, the food industry utilizes maize oil in various applications, including salad dressings, frying, and baking. It is also used in the production of soaps, lubricants, and other industrial applications. The demand for plant-based oils, driven by dietary preferences and health awareness, has led to an increase in the production of organic corn oil. Regulatory bodies like FSSAI have set strict standards for the production and distribution of edible oils, ensuring their safety and quality. Governmental policies promoting economic development and sustainable energy have further boosted the market growth for maize oil. Fluid Quip Technologies provides advanced solutions for the extraction and refining of maize oil, catering to the diverse needs of the industry. Nestle, Agri Trading, and other food companies use maize oil in their products, highlighting its importance in the food industry.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Increasing demand for maize oil in cosmetics and personal care products is the key driver of the market. Maize oil, derived from the germ of the maize kernel, plays a significant role in various industries, particularly in the production of cooking oils and food processing. The health benefits of maize oil, such as its rich unsaturated fatty acid content and antioxidant properties, make it an essential ingredient in functional foods and food science applications. Maize oil's extraction methods and refining technologies have evolved over the years, ensuring higher quality and consistency in the final product. Packaging innovations have also played a crucial role in extending the shelf life and maintaining the nutritional value of maize oil. In the realm of food processing, maize oil's functional properties make it an ideal choice for emulsions, coatings, and encapsulations.
Moreover, its high nutrient content, including vitamins A, E, C, and B, makes it an excellent ingredient in various food applications. Moreover, maize oil's potential in the production of energy-secure cooking oils is gaining traction, especially in regions where food security is a concern. The market is witnessing growth due to the increasing prevalence of lifestyle-related diseases and the subsequent focus on healthy eating. Food safety regulations and the demand for organic food are also driving the market's growth. The retail sector is another significant market for maize oil, as consumers seek out natural and healthy alternatives to traditional cooking oils.
The increasing use of maize oil in biofuel production is the upcoming trend in the market. The market is witnessing significant growth due to its increasing utilization in various sectors, particularly in the production of biodiesel. With growing concerns over energy security and the depletion of non-renewable fossil fuels, there is a heightened focus on renewable energy sources and cleaner fuels to reduce carbon emissions. Maize oil, as a renewable feedstock, is increasingly being used in biodiesel production. This eco-friendly fuel is derived through the extraction methods and refining technologies of maize oil. Moreover, the food processing industry is another major consumer of maize oil. Its use in cooking oils and functional foods has gained popularity due to its unique properties, such as its high smoke point and stability under high heat.
Moreover, maize oil is also used in the production of emulsions, coatings, and encapsulations in the food science industry. Packaging innovations have played a crucial role in expanding the market for maize oil. The retail sector has been quick to capitalize on this trend, with organic maize oil gaining popularity due to its health benefits and food safety regulations. Lifestyle-related diseases have led to a growing demand for functional foods, further boosting the market for maize oil. In terms of regional markets, Asia-Pacific is expected to dominate The market due to its large population and increasing demand for vegetable oils.
Further, Europe and North America are also significant contributors to the market, with a focus on health and wellness trends driving the demand for maize oil. In conclusion, the market is poised for growth due to its diverse applications in various industries, including biodiesel production, food processing, and functional foods. The increasing focus on renewable energy sources and eco-friendly fuels, along with packaging innovations and food safety regulations, are expected to drive the market's growth in the coming years.
The availability of substitute edible oils is key challenge affecting the market growth. The market faces challenges due to the rising preference for other cooking oils such as olive oil, sunflower oil, mustard oil, rice bran oil, coconut oil, and groundnut oil in various regional markets. Cooking oil consumption patterns differ significantly among regions. For instance, in Spain, olive oil is highly preferred for cooking due to cultural and health reasons, while in Canada, canola oil and soybean oil are the most commonly used cooking oils. In APAC countries like India and China, sunflower oil and peanut oil are popular choices due to their health benefits. In South American countries, olive oil is widely used for cooking.
Moreover, the extraction methods, refining technologies, and packaging innovations in the maize oil industry are continually evolving to meet the changing consumer preferences and food processing requirements. Functional foods, emulsions, coatings, and encapsulations are gaining popularity in the food science industry, offering opportunities for market growth. Lifestyle-related diseases and food safety regulations are driving the demand for organic food and stricter quality standards, which in turn, impact the market dynamics. The retail sector plays a crucial role in the distribution and availability of maize oil, further influencing market trends.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Abu Dhabi Vegetable Oil Co. - The company offers maize oil which is produced at a high smoke point of 230 degrees. This high smoke point makes it an excellent choice for deep frying needs such as tempura and chips.
The market research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
Maize oil, also known as corn oil, is a popular vegetable oil derived from maize kernels. It is rich in unsaturated fats, making it a healthy choice for food applications and an essential raw material in various industries. The market is witnessing significant growth due to increasing health awareness and dietary preferences for plant-based oils. The market is witnessing demand from the food industry, particularly in the production of salad dressings, frying, and baking. Maize oil is also used in the manufacturing of soaps, lubricants, and biodiesel. The biofuel sector is a significant contributor to the market's growth, with maize oil being used as a feedstock for ethanol production.
Moreover, the regulatory landscape for vegetable oils, including maize oil, is stringent due to FSSAI guidelines and other regulatory bodies. Companies like Dupont Nutrition, Benson Hill Biosystems, and Brownseed Genetics are investing in research and development to produce organic corn oil and improve the extraction process. The biofuel production sector is also driving the market's growth due to governmental policies promoting sustainable energy and economic development. Maize oil is used as a feedstock for biodiesel production, and companies like Impacto Bioenergia, Fluid Quip Technologies, Minnedosa Ethanol, and Agri Trading are leading the way in this area. In conclusion, the market is experiencing the growth due to its versatility in various industries and the increasing demand for healthy and sustainable food and energy sources. The market is expected to continue growing, driven by factors such as health awareness, dietary preferences, and governmental policies.
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Market Scope |
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Report Coverage |
Details |
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Page number |
157 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 7.08% |
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Market Growth 2024-2028 |
USD 1.71 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
6.49 |
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Regional analysis |
North America, APAC, Europe, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 35% |
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Key countries |
US, China, Canada, Japan, France, and Brazil |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Abu Dhabi Vegetable Oil Co., Archer Daniels Midland Co., Ashwin Vanaspati Industries Pvt. Ltd., Associated British Foods Plc, Bunge Ltd., Cargill Inc., Elburg Global, Grainotch Industries Ltd., Greenfield Global Inc., Gulab Oils, Gustav Heess Oleochemische Erzeugnisse GmbH, Kush Protein Pvt. Ltd., MDECA, MWC Oil, NutriAsia Inc., Saporito Foods Inc., Savola Group, SBH Group, Shree Uday Oil and Foods Industries, and United Wisconsin Grain Producers LLC |
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Market dynamics |
Parent market analysis, market growth inducers and obstacles, market forecast, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, market condition analysis for the forecast period |
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Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
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